Each month the inflation rate is reduced by 1%. New DGB coins are being generated each ~15 seconds. So that makes Digibyte totally decentralized when it comes to issuing new coins, a blockchain that anyone can participate in process of generating new coins. There is also no founders reward, which means founders don't get any amount of coins generated via mining process. Digibyte aims to keep the decentralization standard and be a one of the few high standard PoW blockchains, while it had no premine that means founders didn't issue any amount of Digibyte to keep for themselves. Similar to Bitcoin the Digibyte supply is fixed and it is at 21 billion coins with a 1000:1 ratio to Bitcoin. Being secure Digibyte tries to accomplish another goal to be able to support a large amount of transactions making the blockchain more scalable, Digibyte is one of the few UTXO blockchains with pow algorithm that supports the highest possible transaction per second capacity.]ĭigiByte is a modification of the Bitcoin protocol design that adjusts confirmation speeds and security assurances when transacting on the base layer.ĭigibyte is based on Bitcoin Blockchain standards of decentralization, proof of work algorithm generating coins via mining process. ![]() Providing high confidentiality to its users Digibyte is highly secure at the same time thanks to the blockchain technology of decentralization. Philosophy ĭigibyte provides privacy and anonymity to its users, Digibyte doesn't collect any private information of its users, no email, phone number, name or ID number is required to use Digibyte. The first Digibyte genesis block was mined on January 10, 2014, and included the headline from USA Today: “Target: Data stolen from up to 110M customers," underscoring its motivation for digital security. The DigiByte blockchain was the second major blockchain to implement Segregated Witness via a soft work in April 2017. DigiByte differs from Bitcoin in its confirmation speeds and protocol parameters that its creator, Jared Tate, deemed better for network decentralization and transaction security. ĭigiByte is an open-source blockchain based on Bitcoin that was developed in 2013 and released in 2014. Digibyte aims to have a better speed, reliable transaction fees for everyday payments, while remaining highly decentralized UTXO proof of work blockchain with a smart contracts solution. ![]() Jared became focused on the emerging technology of Bitcoin and blockchain, which evolved into him creating DigiByte.ĭigiByte was created by Jared Tate with the main goal to improve security, scalability and decentralization of a proof of work blockchain at the same time, which was once referred as a scalability trilemma by Ethereum developer Vitalik Buterin. ![]() The realization that his standard of living would be lower than that of his parents led Jared to push for a better alternative. Coming of age during the Great Recession in 2008 he faced the same financial issues as many other millennials, including student loan debt, increased living costs, unexpected expenses, and a desire to save for retirement. After high school, Jared went to attend the United States Military Academy at West Point, before transferring back to Army ROTC at the College of Idaho and contracting with the Idaho National Guard. He learned the basics of computer programming and web design at an early age from his mother, a computer scientist charged with maintaining sophisticated nuclear computer systems for the US Government, specifically the Department of Energy. Having grown up a small town in rural Idaho, Jared developed values that are anchored in both scientific and technical learning and but also a strong sense of duty to America and his fellow man. DigiByte’s founder Jared Tate created DigiByte in Idaho Falls, Idaho.
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