The DigiByte Platform was created with three fundamental pillars: decentralization, security, and fast transactions. With cybersecurity in mind, the first DigiByte block was mined on January 10, 2014. It included the headline from USA Today: "Target: Data stolen from up to 110M customers," hashed into the Genesis Block to mark the importance of security in digital transactions.
Decentralization is at the core of DigiByte, and it has over 100,000 servers, computers, phones, and nodes worldwide. DigiByte uses a multi-algorithm approach for mining and consensus, to make 51% attacks less potent.
DigiByte is mined with five different algorithms: Scrypt, SHA-256, Qubit, Skein, and Odocrypt. DigiByte transaction confirmations take a few seconds, on average, and new blocks are added to the blockchain every 15 seconds, on average. The DigiByte blockchain has executed five major hard forks: DigiShield (February 18, 2014), MultiAlgo (September 1, 2014), MultiShield (December 10, 2014), DigiSpeed (December 4, 2015) and Odocrypt (July 19, 2019).
DigiByte pioneered asymmetrical difficulty adjustment mining with DigiShield, which is now a widely used technology and utilized by many other networks. The difficulty re-targeting for DigiByte takes place continuously after every block, unlike other blockchains like Bitcoin, where the difficulty is recalculated every two weeks.
DigiByte employs the SegWit approach to achieve more efficient block usage. Segregated Witness or better known as SegWit, is a technique of separating transaction data in a way that fills in the block more efficiently. SegWit has been a feature added to a handful of blockchains, e.g., Bitcoin, and leads to significantly lowered fees and network load. DigiByte is considered to be one of the fastest public UTXO-based blockchains, with 15-second block timings.