What is DigiByte?
DigiByte is a professional & transparent decentralized cryptocurrency that has been designed to address several of the weaknesses of Bitcoin & Litecoin. As the Bitcoin & Litecoin marketcap grows it is likely there will be even more price volatility and commodity speculation which will result in fewer transactions for goods and services as was originally intended with crypto currencies. As such, we as the development team felt it was best to create Digibyte with a total coin supply of 21 Billion DGB. This will help reduce price volatility once DigiByte is tied directly to the USD and or Euro/Yuan while keeping in parity with the number 21 success of Bitcoin. This will help encourage DigiByte to be adopted as a transactional currency and not as a speculative commodity. We are now seeing the death of the common home based Bitcoin miner and the emergence of large ASIC mining companies. We as a development team feel this centralization of hash power goes against the main principle upon which Bitcoin was created. Given this reason and others we have decided to use Scrypt with Digibye. Scrypt is a tried and tested algorithm that has experienced much success in the crypto community. We feel there is no need to re-invent the wheel here. From our research we have concluded that even if ASIC scryt miners are developed they will not give anywhere near the difficulty boost that was seen with Bitcoin and more than likely will not be cost effective to develop or purchase. Just as Facebook overtook MySpace or Chrome over took Internet Explorer so will a scrypt based coin over take Bitcoin. Bitcoin has done very well and paved the way but it will not be the king of crypto currencies forever. It is facing several issues right now including; slow transactions, limited coin supply and centralization of hash power. When studying new internet technologies rarely has the first to market ever stayed on top for long. Lycos was overtaken by Google, Napster has since been replaced by many others. More importantly there is room for several crypto’s just as there is for Visa, MasterCard, American Express and Discover. We have Wells Fargo, Bank of America, JP Morgan Chase and many more. We have PayPal, Western Union, OkPay and others. There is room for a professional crypto currency like DigiByte. We feel DigiByte has a huge amount of potential right now. Our goal is for DigiByte to become a professional currency with a solid name and a bit of DigiMan marketing fun. Everyone knows what a megabyte or a gigabyte is, so why not use DigiByte’s as a store of monetary value on your pc, tablet or smart phone? How many DigiByte’s can your wallet hold? ★★ DigiByte★★ : Come for the excitement, stay for the community, live for the future! Why use DigiByte?
- Speed: DigiByte is Blazing fast! Much faster than Bitcoin & Litecoin, fast enough to buy coffee at Starbucks in a few seconds!
- Transactional Currency: With 21 billion coins, Digibyte will become primarily a worldwide currency traded for goods & services and not a volatile speculative commodity like Bitcoin.
- Community: DigiByte was planned and designed for over a month before launch. Now, we open the community up to all those wishing to participate and contribute to its success.
- Fair Launch: DigiByte was announced over 3 days ahead of time. It was delivered at the exact minute advertised with a countdown timer for a fair launch. Over a half million dollars in hardware were thrown at the network in the first few minutes alone.
- Transparency: The pre-mine of DigiByte is publicly posted and is used to further the long-term success of DigiByte.
- DigiByte Name: You store data in megabytes & gigabytes. Why not store money with DigiBytes?
- 21 Billion Total Coins
- 60 Second Block Target
- 1st 3 days reward will be 16,000 per block
- Then 8,000 DGB Per Block, Reward Halves Every 2 Years
- 0.5 % Pre-Mine (105 Million)
- Scrypt, POW
- Difficulty Re-Target every 2.4 hours or 144 blocks