DGB

DigiByte price

DGB
|
3.6/5
CyberScope
4.2
05/29/2024
TokenInsight
3.0
11/22/2022
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USD
USD
$0.011607
+1.18%
1h
24h
1W
1M
1Y
All

DigiByte price live data

The current price of DigiByte is $0.011607. Since 00:00 UTC, DigiByte has increased by +1.19%. It currently has a circulating supply of 17,040,096,762 DGB and a maximum supply of 21,000,000,000 DGB, giving it a fully diluted market cap of $197.94M. At present, DigiByte holds the 154 position in market cap rankings. The DigiByte/USD price is updated in real-time.

DigiByte price performance in USD

Time periodChange amount%Chg
Today$0.00013600 +1.18%
7 days$0.000084000 +0.72%
30 days$0.0013110 +12.73%
3 months-$0.00247 -17.56%

DigiByte market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.011243
Last price $0.011607
24h high$0.012132
Heat index ranking
116
Market cap ranking
154
Market cap
$197.94M
Favorited rate
Percentage of users who favorited this asset to all users
0.71%
All-time high
$0.18407
-93.70% (-$0.17246)
May 1, 2021 (3 years ago)
All-time low
$0.0025500
+355.17% ($0.0090570)
Mar 13, 2020 (4 years ago)
ICO date
01/14/2014
ICO price
The price at which this crypto was first traded
$0.0014000
Circulating supply
The amount of this crypto that is publicly available in the market
17,040,096,762 DGB
Market cap at circulating supply
Market cap = Circulating supply × Last price
$243.94M

About DigiByte (DGB)

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.

DGB 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.

You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for DGB with zero fees and no price slippage by using OKX TR Convert.