Envisioned in 2013 and launched in 2014, DigiByte follows the old-school cryptocurrency ethos of being community-run and not-for-profit. With the Bitcoin codebase as a foundation, DigiByte made significant changes to the protocol in the software fork to introduce better privacy protection and transaction throughput. The blockchain that records transactions with native coin DGB and DigiAssets is secured by five different mining algorithms to prevent consensus attacks. New blocks are produced every 15 seconds. As of August 2022, almost 75% of the total supply of DGB has been mined.
DGB can be used to transfer value across the network, and mint and use DigiAssets. These are digital assets that can represent data, tokens, and even smart contracts.
The DigiByte Foundation, run by volunteers, promotes and raises awareness of the project. The team underlines that they never held a token presale with a supply pre-mine of only 0.5% to fund initial development.