Today I bought another 3K Digibyte coins!!
Bitcoin is a great coin and idea, it has opened people’s minds to this idea of the blockchain as well as ICO’s which has brought forward so many great ideas from different individuals and teams.
But when it really comes down to it, the technology is old and shows no signs of upgrading.
What does that mean for other innovative blockchains inching their way into the market?
The blockchain/coin that I wanted to bring to your attention today is DigiByte (DGB).
What I want to do is compare DGB to BTC and then move on to some information on DGB and why it has already helped the blockchain since its launch in 2014. We will be looking at Scalability, Speed, Security, Decentralization, Adaptiveness, and Manageability. I want to show the comparison of a blockchain that is growing and showing change through time, compared to the ultra giant BTC.
Scalability – Transactions per second = (TPS)
BTC: 4 TPS
Western Union: 30 TPS
PayPal: 130 TPS
Visa: 2,000 TPS
DGB: 280 TPS
By 2020 DGB hopes to reach transaction speeds of 2000 to match Visa and move on to ultimately reach a speeds of 280,000 TPS!
Speed -
BTC: 10 MINUTE Block Times
DGB: 15 SECONDS Block Times
As you can see, it is much quicker than BTC.
Security -
BTC: 1 Mining Algorithm:
- SHA-256 (ASIC Mining)
DGB: 5 Mining Algorithms:
- SHA-256 (ASIC Mining)
- Groestl (GPU Mining)
- Skein (GPU Mining)
- Scrypt (ASIC Mining)
- Qubit (GPU Mining/CPU Mining)
This is done through a process known as MultiShield, an upgrade of the well-known and used DigiShield. MultiShield breaks the mining process equally into 5 different pieces, which gives you 20% per mining algorithm. Digishield is utilized by huge names such as, DOGECoin.
Both MultiShield and DigiShield are hardforks of Digibyte
Decentralization -
BTC: 7,400 Nodes
DGB: 43,000 Nodes
This is the number of full nodes per coin, ultimately leading to DGB being more decentralized than BTC.
Adaptiveness –
BTC: 2 Week Delay on difficulty adjustments
DGB: Real-Time difficulty adjustments
Manageability –
BTC: 21 Million Coins to be released to the public
DGB: 21 Billion Coins to be released to the public
What pricing are we looking at for the coin?
12/19/2017 – 227 Satoshi ($0.04)
Where can I buy DGB?
Bittrex
I think this coin is going to do very well and I think the technology behind it is far too good to die.
We will see digibyte grow moving into 2018, get it while it is cheap!
Nice write up but it's HODL, HODL, HODL!
Sorry hodl, Hodl, HODL! Be sure to keep an eye on Digibyte!