DigiByte is an open source, blockchain network, and a decentralized digital asset. It has three different layers (1) Application layer, (2) Digital Asset/ Public Ledger Layer and (3) Core Communication Protocol/ Global Network Layer. The top layer is for intelligent contracts and decentralized applications. The center layer is the public directory where the native DigitByte coin can pass over and act as the backbone of the network. The lower layer is the system’s main architecture which includes the autonomous servers, consumer applications, and the connectivity between them.
The cryptocurrency digibyte is referred to as the DGB symbol. Digibytes are non-destructible, counterfeited or hackable digital properties, which make them perfect for protecting valuable objects such as money, information, property or significant digital data. On January 10, 2014, the DGB block of genesis was released which was led by the founder and creator of DGB, Jared Tate. Without initial selling of the token it was launched. The approach uses multi-algorithms to provide various proof of mining methods (PoW) and to increase mining efficiency, thus making Digi-byte mining pools available. This avoids centralization and avoids a 51 percent assault on the network.
What makes DigiByte so special is its unique characteristic: it alternates between the five various mining algorithms (Scrypt, SHA256, Qubit, Skein or Groestl). The production cap for Digibyte is also 21 billion. Thus, DigiByte fulfilled its goal which focused on accelerated efficiency, decentralization, and security of transactions.