Question 1

What is DigiByte (DGB)?

Accepted Answer

DigiByte is an open-source blockchain and asset creation platform, initiated as a fork of Bitcoin in October 2013, with its genesis block mined in January 2014. It is a public blockchain and cryptocurrency that uses five different algorithms to enhance security. DigiByte's structure comprises three layers: a smart contract "App Store," a public ledger, and the core protocol with nodes for transaction relay. The primary aim was to improve upon Bitcoin's security, capacity, and transaction speed​.

Question 2

What makes DigiByte (DGB) unique?

Accepted Answer

DigiByte differentiates itself from Bitcoin by diversifying security, speed, and capacity. It employs five separate algorithms to bolster security and prevent ASIC miners from gaining excessive control. DigiByte also introduced DigiAssets, a platform for launching digital assets, decentralized applications (DApps), and smart contracts, with DGB as its native token. Governance structures within DigiByte operate on a voluntary basis, emphasizing the principle that the network should remain open source and publicly accessible​.

Question 3

Who are the founders of DigiByte?

Accepted Answer

Jared Tate, also known as "DigiMan," is the creator of DigiByte. He played a pivotal role in its development and growth before temporarily stepping back in May 2020.