What is Digibyte: More information about Digibyte, a proof-of-work coin
Digibyte is a cryptocurrency created on Digibyte blockchain whose transaction takes place from one peer to another without involvement by the government thus is being considered to be decentralized. Digibyte was mainly created to speed up transaction
Digibyte transaction
Digibyte transaction takes place on the Digibyte blockchain Explorer based on blocks height and timestamp. To view how Digibyte transaction takes place on the Digibyte blockchain explorer, simply follow the link below;
Date Launched
Digibyte was created in 2013 but went public in 2014 with the main objective of speeding up transaction. Since then, the developers have been keeping on improving on this coin to make sure that it is more secure and the transaction is much faster compared to bitcoin
Founder Of Digibyte
Digibyte was created by Jared Tate who is a programmer and an entrepreneur. His main objective was to make sure that Digibyte transaction becomes much faster than bitcoin as well as much more secure
Process of creating Digibyte
Digibyte is created through the proof-of-work mining process by aid of GPU, CPU and ASICS hardware in the presence of internet and electricity using the sha256, skein, qubit,groestl and scrypt algorithm. To mine using CPU and GPU, you have to download the software while to mine using ASICS hardware, you have to purchase the hardware . You can either decide to become a solo miner which is very slow thus takes a lot of time to discover a block or can decide to join pool mining by sharing your computing power which is very fast and more rewarding.
Maximum circulation of Digibyte
Unlike cryptocurrencies like bitcoin and ethereum where their reward on halving every year, for Digibyte cryptocurrency, that is not the case. Instead, the block reward will keep on decreasing by 1% every month. Upon completion of its mining process, the maximum number of Digibyte cryptocurrency that is expected to be in the Digibyte blockchain economy should be 21,000,000,000 coin
Digibyte Price
Currently, 1 Digibyte is worth more than $0.01 and its price is expected to increase over the next period of time. Digibyte is being abbreviated as DGB.
Converting my Digibyte to other cryptocurrencies
To convert your Digibyte to other cryptocurrencies such as bitcoin , you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Digibyte to bitcoin
https://www.binance.com/?ref=10776203
Storing my Digibyte
To store your Digibyte, you need a Digibyte wallet or other supported cryptocurrency wallets. You can use , coinpayment or other supported Digibyte wallets. For the safety of your Digibyte, you can use offline Digibyte wallet like Ledger hardware wallet or you can download Digibyte core wallet.
Transferring my Digibyte to other Users
If you want to transfer your Digibyte to another user, the two of you must have trust in each other. The trust should be the Digibyte address provided for the receiver while the sender must have the Digibyte balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Digibyte
If you feel that you need to learn more about Digibyte cryptocurrency, then you can follow them on their site. Here is the link redirecting you to Digibyte site
Now that you know, i think that it is time for you to start Mining some Digibyte or can purchase them if you don't have enough computing power to mine them. If you feel that i should also own some for helping you to know more about this cryptocurrency, here is my Digibyte address ;
DAuaWR2DQesMwADpknPbPpBbrQyqqAJ5Z7