What Is DigiByte (DGB)?
DigiByte is an original and innovative project that focuses on blockchain technology. The DigiByte chain has many great uses. For instance, it’s used for digital assets, decentralized applications, smart contracts, and even security. DigiByte is also the name of the cryptocurrency that powers the project.
If you’re interested in this project or want to learn how to obtain the DGB crypto, you’ve come to the right place. In this article, we’ll explain what DigiByte is and how to find the best DGB exchange. Moreover, we’ll talk about the DigiByte price and show you how to exchange DGB using a popular and decentralized crypto exchange platform. Read on.
DigiByte’s creators describe it as a UTXO blockchain that is truly decentralized. UTXO is short for unspent transaction output. DigiByte has no central authority and can be described as truly permissionless — much like other popular systems based on blockchain, such as the Bitcoin network.
DigiByte has been around since 2014 and was originally based on the LTC code-base, but it was an independent blockchain with its own Genesis Block. However, the platform has undergone a couple of soft and hard forks, with all of them being non-contentious. None of the forks created a chain split but instead contributed to the overall upgrade of the DigiByte network. Even though there was never an official ICO for DigiByte, the coin was launched in a transparent manner.
To sum up this part, DigiByte is one of the most forward-thinking platforms, with more than six years of careful and planned development. That’s why it’s one of the most decentralized blockchain-based projects, in addition to being the fastest, safest, and longest.
DigiByte Price Index
At the heart of the DigiByte blockchain is the DGB crypto, which you can buy and sell at a DGB exchange, much like any other cryptocurrency. That is why you may want to learn the price or how much DigiByte to USD is.
Like many other cryptos, the DigiByte price isn’t stable — it fluctuates constantly and provides a good opportunity to increase returns from price changes. Therefore, we will not talk about the current DigiByte price but will encourage you to take a look at a DGB price chart and learn more about the changes in real time.
Since DigiByte is not new, its biggest price increases happened during the times when investors started buying popular digital assets, such as BTC and Ethereum. For example, the first peak in price was reached in January 2018, shortly after BTC’s price made the first jump. DigiByte’s second increase took place in April and May 2021, following the second wave of investment increase. Simply put, even though it’s much less popular compared to BTC or ETH, DGB has been around and had its share of investors. The DigiByte price closely followed the ups and downs of the entire crypto market.
Circulation of DigiByte
The maximum supply (also called just max supply) of DigiByte that can mined is 21 billion. In other words, it is designed to be 1000:1 to Bitcoin, as the max BTC supply is 21 million.
The DGB crypto can be mined using five different algorithms. If you have some experience with mining, you are probably familiar with Sha256 or even Scrypt. In addition to those two, you can use Skein, Qubit, and Odocrypt. In other words, there’s the MultiAlgo mining option which enhances decentralization and the overall security levels of the network.
Block rewards for DGB reduces by 1% monthly, which isn’t similar to BTC-s 4-year halving. According to the official website, all DGB cryptos will be mined by 2035. After that, miners will start earning from fees charged on DGB transactions.
If you’re reading this before 2035, the chances are that not all DGB coins are mined. Therefore, the mined amount is called the circulating supply, meaning these coins are available for buying and selling.
Speaking of buying and selling, let’s take a look at how to buy DigiByte.
Ways of Buying DGB?
If you want to exchange DGB or buy it with another cryptocurrency, we suggest using Godex, a decentralized digital currency exchange site. It offers a great DGB converter and accepts more than 200 cryptocurrencies.
There are several other ways to buy DGB. You can get paid in DGB by your employee or client if that’s a possibility. Ultimately, you can ask a friend or acquaintance to send you DGB to your wallet in exchange for something else (or as a gift, if they are willing to do it).
Ultimately, feel free to research another DGB exchange and find the one that meets your needs.