DigiByte (DGB) – Info
A coin that has adopted the Bitcoin "21" figure but increased the supply to 21 billion - with over 5 algorithms to mine with (Scryt, Sha-256, Qubit, Skein, Groestl) - in order to keep mining local and in the hands of many. A 60 second block target, a 0.5% premine and a block retarget every 2.4 hrs or 244 blocks.
DigiByte: Refers to the entire DigiByte network or a single monetary unit on the payment network. 21 billion DigiBytes will be created over 21 years.
Block: A grouping of all transactions sent over the DigiByte network within a 30 second time frame. Think of a block as an excel spreadsheet that lists the address location of all DigiBytes at a given point in time in history. New DigiBytes are brought into circulation as each block is discovered on the network through a process called mining.
Mining: Mining is how transactions are processed on the network. Anyone can become a miner by donating and using their desktop, laptop or mobile phone computing power to help process transactions on the DigiByte network. DigiByte has made this process even easier with our 3 click mining software for beginners.
Blockchain: The DigiByte blockchain is the entire history of all blocks discovered on the network & therefore all transactions made on the network. Each block references the proceeding block all the way back to the beginning of the network to what is known as the genesis block. By linking blocks (spreadsheets) together an accurate, secure accounting of all up to date DigiByte ownership is made by decentralized consensus.