DigiByte
Current price
$0.0034
−2.02%24h
LiveUpdated 38s ago
TodayDigiByte falls 2.0%, outpacing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.58%
- 24 hours−2.02%
- 7 days−15.21%
- 30 days−16.05%
- 1 year−49.85%
DigiByte's move in context
Beating the market today
−2.02% today against −3.26% for the market as a whole, a gap of 1.2 points. Small gaps like this are common, so they don't point to anything specific.
Part of a slide
−15.2% over 7 days and −16.1% over 30 days: the recent move continues the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About DigiByte
Overview
DigiByte is a decentralized cryptocurrency that was created to address issues prevalent in the Bitcoin network and to improve on the existing technologies in the blockchain space. Its core mission is to provide a fast, secure, and scalable digital currency that empowers users worldwide. One of DigiByte's distinguishing features is its rapid transaction times, which allow for near-instantaneous payments. It also boasts a strong security model with multi-algorithm mining, making it resistant to attacks. Additionally, DigiByte aims to facilitate a range of applications beyond mere currency, including smart contracts and digital asset management.
Technical Features
DigiByte employs a unique combination of five mining algorithms, including Sha256, Scrypt, Groestl, Skein, and Qubit. This multi-algorithm approach enhances security and decentralization by allowing various types of hardware to participate in the mining process. The consensus mechanism of DigiByte is based on the Proof of Work (PoW) protocol, which ensures that transactions are verified through computational power. With a block time of just 15 seconds, DigiByte is significantly faster than Bitcoin. Its network architecture is also designed for scalability, allowing for thousands of transactions to be processed per second, with a maximum supply cap of 21 billion coins. Furthermore, DigiByte’s blockchain technology incorporates advanced security features such as long-range attack protection and a unique feature called DigiShield, which detects and mitigates the difficulty adjustments for mining.
Use Cases
DigiByte aims to serve multiple purposes within the blockchain ecosystem. One of its primary use cases is in decentralized finance (DeFi), where users can utilize DigiByte for various applications such as lending, borrowing, and yield farming. Additionally, it is gaining traction in NFTs (non-fungible tokens) by providing a platform for artists and creators to tokenize their work. DigiByte is also positioned as a viable solution for cross-border payments, reducing the cost and time associated with traditional wire transfers. With the ability to support smart contracts, DigiByte facilitates trustless transactions and decentralized applications (dApps), enhancing its functionality in various industries.
Development Background
DigiByte was launched in January 2014 by Jared Tate, who aimed to create a faster, more secure cryptocurrency than Bitcoin. Over the years, the DigiByte community has grown, with numerous contributors supporting its development. Notable events include the implementation of DigiByte’s multi-algorithm mining in its initial stages and the continuous improvements in its technology. The cryptocurrency has faced challenges but remains active in innovation, branching into various sectors and continually updating its roadmap to adapt to the evolving blockchain landscape.
Community and Ecosystem
The DigiByte ecosystem thrives on a robust community of developers, enthusiasts, and users committed to its growth. The community is decentralized, with no central authority controlling the project, promoting a culture of collaboration and innovation. DigiByte has partnered with several organizations and platforms to expand its use cases and utility. Various applications and projects have been built around DigiByte, including wallets, exchanges, and DeFi platforms, contributing to its vibrant ecosystem.
Future Potential
The future potential of DigiByte remains promising due to its technological advancements and broad use cases. As the cryptocurrency landscape evolves, DigiByte’s capabilities in facilitating fast, secure transactions position it well amid increasing demand for digital currencies. Upcoming developments in its roadmap include enhancing its smart contract functionality and expanding its ecosystem to encompass more applications and partnerships. With a focus on sustainability and continuous improvement, DigiByte aims to be a significant player in the global cryptocurrency market.
DigiByte market
- Position by market cap among the coins we track.
- #208
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $62.96M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.00339High $0.00364
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $0.1781
- Now 2% of itReached 1 May 2021 · Needs +5,138% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 18.52B DGB
- 88% of max
- Coins that exist now and can be traded.
- The most coins that can ever exist. Some coins have no limit.
- 21B DGB
- The most coins that can ever exist. Some coins have no limit.
DigiByte converter
1 DigiByte = $0.0034
