A Decentralized UTXO PoW Blockchain with SegWit and Smart Contract Support.
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DigiByte (DGB) is a decentralized UTXO blockchain that was launched in January 2014. The project is built on the code of Litecoin, but with several modifications.
In February 2014, the project introduced DigiShield, a real-time difficulty adjustment mechanism which stablizes block time despite exponential changes in mining hash power.
DGB has a maximum supply of 21 billion, which will be fully mined by 2035. 0.5% of the total DGB supply was pre-mined, and distributed to early community members. The network has a block time of 15 seconds, and is mined with SHA256d (available for BTC miners), Skein, Qubit, Odocrypt (FPGA), and Scrypt (available for LTC miners) consensus algorithms.
The Odocrypt consensus algorithm was developed by the DigiByte team and automatically modifies itself every 10 days in order to prevent ASIC dominance. The algorithm was implemented in July 2019.
DigiByte is one of the first decentralized networks to implement Segregated Witness (SegWit), a first layer solution which modifies the structure of transaction blocks and improves overall network scalability. DigiByte has also allowed the implementation of smart contracts by enabling OP_codes.