What is DigiByte?

DigiByte is an open-source blockchain initiated in late 2013 and launched in early 2014. It utilizes a UTXO model and features five Proof of Work algorithms for enhanced security and decentralization. The blockchain supports various applications, including digital assets through the DigiAssets protocol, smart contracts, and decentralized applications. With a maximum supply cap of 21 billion DigiBytes and an average block time of 15 seconds, the network aims to facilitate high-speed transactions with minimal fees.

The DigiByte governance model operates without centralized control, as there is no CEO or entity overseeing it; instead, it is maintained by a community of volunteer developers. The architecture consists of three layers for infrastructure, transaction security, and communication. This design enables real-time difficulty adjustments and features like the Odocrypt algorithm, which prevents ASIC mining centralization.