DigiByte (DGB) is an open-source blockchain and cryptocurrency that was created as a fork of Bitcoin, with development starting in October 2013 and the genesis block mined in January 2014. It aimed to improve upon Bitcoin's security, capacity, and transaction speed.
Here's a breakdown of DigiByte:
Key Features:
* Multi-Algorithm Mining: DigiByte uses five different proof-of-work (PoW) algorithms to enhance security and prevent mining centralization. These algorithms rotate, making it more difficult for specialized hardware (ASICs) to dominate the network.
* Faster Block Time: DigiByte has a block time of 15 seconds, which is significantly faster than Bitcoin's 10-minute block time, allowing for quicker transaction confirmations.
* DigiShield: This is a difficulty adjustment mechanism that retargets the mining difficulty in real-time to protect the network from hash power fluctuations and ensure consistent block times.
* DigiAssets: This feature allows for the creation of customizable crypto assets on the DigiByte blockchain, representing various things like traditional financial assets or legal documents.
* Digi-ID: A decentralized authentication system that aims to eliminate the need for usernames and passwords by sharing cryptographic data without revealing personal information to applications.
* Decentralization: DigiByte emphasizes decentralization. It had no ICO (Initial Coin Offering) and no significant pre-mined coins. The project is driven by a global community of volunteers, including the DigiByte Foundation and the DigiByte Awareness Team.
* Max Supply: DigiByte has a maximum supply of 21 billion coins, which will gradually be mined until approximately 2035, after which the network will rely solely on transaction fees.
Current Price and Market Data (as of May 13, 2025):
Please note that cryptocurrency prices are highly volatile and can change rapidly. Based on the search results, here's an overview of DigiByte's current status:
* Price: The live price of DigiByte (DGB) is fluctuating around $0.0098 to $0.0113 USD. Different exchanges may show slightly different prices.
* Market Capitalization: DigiByte's market cap is approximately $173 million to $189 million USD.
* 24-Hour Trading Volume: The 24-hour trading volume is roughly $4.8 million to $9.4 million USD.
* Circulating Supply: There are approximately 17.68 billion to 17.69 billion DGB coins in circulation.
* Maximum Supply: The maximum supply is 21 billion DGB coins.
* Price Change: In the last 24 hours, DGB has shown a price change ranging from +1.27% to +7.78%. Over the past week, it has seen a significant increase, with some sources reporting gains of over 20%.
Where to Buy DigiByte:
DigiByte is available for trading on various cryptocurrency exchanges, including:
* Binance
* KuCoin
* Kraken
* HTX (Huobi)
* Gate.io
* Binance US
* Easy Crypto (especially for South African Rand (ZAR) purchases)
* Cointree (Australia)
Recent News and Developments:
* There was a report around April 17, 2025, highlighting DigiByte's increasing number of nodes and comparing it to Bitcoin's node count, suggesting growing decentralization.
* Bullish momentum was observed in mid-April 2025, with price increases and high trading activity reported.
In summary, DigiByte is a long-standing cryptocurrency focused on security, speed, and decentralization, offering features like multi-algorithm mining, fast block times, and asset creation capabilities. While its price is subject to market volatility, recent data indicates some positive price movement and ongoing development within its network.
It's important to conduct thorough research and understand the risks involved before investing in any cryptocurrency.
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