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Review on DigiByte by James Griffis
DigiByte’s supporters argue that it’s the sleeping giant of cryptocurrency…
DigiByte’s supporters argue that it’s the sleeping giant of cryptocurrency. According to its fans, it’s on the cutting edge of crypto-technology. It hosts a network that’s faster, more scalable, and more secure than other major currencies. Over time, they argue, its superior technology will win out against Bitcoin, Litecoin, and other top digital cash options. DigiByte has a dedicated community and nearly 100,000 nodes across the globe.
Pros
- the best project I joined. transaction speed too fast. DigiByte launched its genesis block on January 10th, 2014. At launch, it used a single proof of work algorithm. Soon after, however, DigiByte conducted a hard fork to introduce a total of five proof of work algorithms. Splitting the mining between algorithms encourages decentralization and increases the security of the network.
Cons
- A new DigiByte block is mined approximately every 15-18 seconds. Each of the five mining algorithms mines one block every 1.5 minutes. Within each block, transaction sizes are limited. DigiByte was also the first to implement Segregated Witness technology, helping keep its blockchain small and scalable. The fast blocktime combined with four years of existence means DigiByte has the longest blockchain currently in existence. Longer even than Bitcoin’s.
