What is Digibyte?

DigiByte (DGB) is a blockchain project like Bitcoin, only faster, more secure, and forward thinking.

DigiByte allows you to send and receive funds instantly, across borders and without a middleman such as a bank or clearing-house. There is no sign-up, no personal details required, no minimum funds, no charge-backs, no limits, no account to open, no forms to fill out, no way to freeze funds, and no discrimination.

Unlike Dollars, Bolívar, Euro or Pounds, DigiByte is also finite in its supply. There will only ever be 21 billion in circulation by the year 2035, with no more able to be created after that. DigiByte is the perfect way to separate finance from state.

DigiByte is also backed by the best cryptography and mathematics in the world, using the same public and private key encryption that’s used to secure nuclear launch codes. It’s also open-source meaning anybody can review and contribute to the project.

DigiByte is decentralized, meaning there is no central or single point of failure that can be controlled, attacked, or taken down. DigiByte is permissionless, so you don’t have to ask anyone permission to use, send or receive DigiByte transactions.

DigiByte can also be used to store data, notarize documents, log in to websites, secure medical records and so much more!

It’s easy to get setup with and start accepting DigiByte, there’s no bank that takes a cut when you receive transactions, and all transactions are final and permanent, unable to ever be undone or rolled back.

WHAT IS BLOCKCHAIN?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participants ledger.

The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT). Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash. This means if one block in one chain was changed, it would be immediately apparent it had been tampered with. If hackers wanted to corrupt a blockchain system, they would have to change every block in the chain, across all of the distributed versions of the chain. Blockchains such as Bitcoin and Ethereum are constantly and continually growing as blocks are being added to the chain, which significantly adds to the security of the ledger.