What is DigiByte?

DigiByte is an open-source blockchain project founded in late 2013 and released in early 2014. It operates as a decentralized digital currency and supports various applications including digital assets, smart contracts, and decentralized applications. The blockchain utilizes five proof-of-work algorithms for security and has a total supply cap of 21 billion DGB tokens. Governance is community-driven, with no central authority or initial coin offering involved in its funding.

DigiByte's architecture consists of three layers: the top layer for applications and digital assets, the middle layer for transaction security, and the bottom layer for network communication. Transactions are confirmed every 15 seconds, significantly faster than Bitcoin and Litecoin. The system employs advanced features such as real-time difficulty adjustment and MultiAlgo mining to enhance security and decentralization.