The current price of DigiByte is ₺0.40937. Over the last 24 hours, DigiByte has increased by +5.95%. It currently has a circulating supply of 17,636,225,574 DGB and a maximum supply of 21,000,000,000 DGB, giving it a fully diluted market cap of ₺7.22B. At present, the DigiByte coin holds the 131 position in market cap rankings. The DigiByte/TRY price is updated in real-time.
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DigiByte (DGB) is a decentralized blockchain that operates on the Unspent Transaction Output (UTXO) model. This model, also adopted by Bitcoin (BTC), offers enhanced privacy and security by making transaction history tracking more complex. DigiByte supports various features such as smart contracts, decentralized applications (dApps), and secure authentication, making it a versatile platform for a range of blockchain-based applications.
What is DigiByte
DigiByte is an open-source blockchain ecosystem that was established in 2013. Its native token, DGB, was mined for the first time in early 2014. DigiByte is inspired by Bitcoin’s technology and draws inspiration from its features. To ensure the security and integrity of the network, DigiByte utilizes five distinct variations of the Proof of Work (PoW) algorithm. These variations include the SHA-256 algorithm, which is also used by Bitcoin, as well as Qubit, Scrypt, Odocrypt, and Skein.
The DigiByte team
DigiByte is a community-driven project with a global network of volunteers and contributors. It encompasses various entities, including the DigiByte Awareness team, the DigiByte Foundation, and the DigiByte Alliance. The project was originally conceived and developed by Jared Tate, also known as the "DigiMan."
How does DigiByte work
DigiByte operates on a multi-algorithm mining approach to ensure decentralization and enhance security. This approach mitigates the risks of centralization and potential security threats. Additionally, DigiByte offers fast payment processing capabilities with its 15-second block creation time, providing quicker transaction confirmations compared to Bitcoin's 10-minute blocks.
DigiAssets, a Layer 2 solution, enables the creation and tokenization of digital assets on the DigiByte network. This L2 platform also supports smart contracts, allowing for the creation and implementation of programmable logic for asset creation, transfer, and other use cases.
Another notable innovation within the DigiByte ecosystem is Digi-ID. Digi-ID is a privacy-oriented authentication protocol that serves as a single form of identification across various Internet of Things (IoT) devices, websites, and applications.
DigiByte’s native token: DGB
Beyond being a medium of exchange, DGB tokens also have additional functions within the ecosystem – DGB tokens are awarded to miners and can be used for issuing and managing digital assets on the DigiAssets protocol layer.
DGB tokenomics and distribution
DGB tokens have a fixed supply of 21 billion, with approximately 78 percent currently in circulation. Out of the total supply, only 0.5 percent (105 million DGB tokens) was pre-mined, with 50 percent of that reserved for ecosystem development. The majority of the total supply, more than 99 percent, is allocated as miner rewards.
DigiByte follows a deflationary token issuance model, where block rewards decrease by 1 percent each month. This gradual reduction in the rate of token issuance over time helps ensure a controlled and sustainable supply growth for DGB tokens.
The future of DigiByte
The future of DigiByte looks promising with its increasing acceptance among merchants, thanks to partnerships like UTrust. The recent extension of DigiByte token support to the Guarda Wallet as loan collateral further validates its popularity and utility.
Additionally, the development of a DigiByte wallet is underway, spearheaded by RenzoDGB, an ecosystem developer. These developments indicate a growing ecosystem and highlight DigiByte's commitment to providing users with improved accessibility and functionality in the future.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 747 new posts about DigiByte, driven by 293 contributors, and total online engagement reached 51K social interactions. The sentiment score for DigiByte currently stands at 90%. Compared to all cryptocurrencies, post volume for DigiByte currently ranks at 3700. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of DigiByte.
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Posts
747
Contributors
293
Interactions
51,217
Sentiment
90%
Volume rank
#3700
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Posts
436
Interactions
49,426
Sentiment
91%
DigiByte FAQ
What is DigiByte?
DigiByte is an open-source, decentralized blockchain platform that operates on the Unspent Transaction Output (UTXO) model to enhance privacy and security. The project introduces various improvements to the Bitcoin codebase, including faster block creation time, increased scalability, and enhanced transaction speed. It also utilizes a unique combination of five different Proof of Work (PoW) algorithms to ensure decentralization and robust network security. The native token of the DigiByte ecosystem is called DGB, which can be used for digital transactions, as a store of value, and for participating in the DigiByte network.
What are the advantages of DigiByte?
DigiByte offers several advantages. Firstly, DigiByte has a fast block creation time of just 15 seconds, allowing for quick transaction confirmations and a more efficient user experience. Secondly, the platform utilizes multiple PoW algorithms, providing increased security against potential attacks and ensuring a more decentralized network. Additionally, DigiByte has a large supply of tokens, with a total cap of 21 billion, making it suitable for microtransactions and providing ample liquidity within the ecosystem.
Where can I buy DGB?
Easily buy DGB tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include DGB/USDT.
Currently, one DigiByte is worth ₺0.40937. For answers and insight into DigiByte's price action, you're in the right place. Explore the latest DigiByte charts and trade responsibly with OKX TR.
What is cryptocurrency?
Cryptocurrencies, such as DigiByte, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as DigiByte have been created as well.
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX TR does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX TR. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX TR and its affiliates (“OKX TR”) are not in any way associated with the owner or operator of the TPW. You agree that OKX TR is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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