DigiByte (DGB) Scalability Concerns will it Slow Down With Mass Adoption in Blockchain IndustryJuly 3, 2020
Kris Merkel of Exodus.io had asked a question in his You Tube Channel after clarifying on the basics of DigiByte. Do you think whether DigiByte will scale down or will it slow down once the mass adoption is reached?
In the video Merkel Explains thus: The Digibyte ecosystem is built around two pillars of security and speed, which are both considered by Digibyte fans as limitations of similar block chains that are either not secure or are not able to scale to meet the current and future demands of its users.
DigiByte uses similar systems of transactions like Bitcoin to keep track of transactions. This system is called the UTXO system, Unspent Transaction Outputs.
This is different from other blockchains like Ethereum, TRON, Cosmos and NEO to name a few. DigiByte is a Proof of Work blockchain, which means users and miners will validate the transactions on the network.
DGB is very easy to incorporate according to Sydney Ifergan, the crypto expert who tweeted: “Good that any platform or wallet will be able to add DigiByte (DGB) anytime they like, there is no need to get special permission from anyone.”
DigiByte (DGB) Speed is Attractive
Digibyte Speed is attractive as they are able to get a new block mined every 15 seconds. To keep this block time stable, Digibyte has a real-time difficulty adjustment in a way to keep the block times stable at 15 seconds. This DigiByte difficulty adjustment is called DigiShield. And, has been added to more than 2 dozen other blockchains, including Ethereum, ZCash and Dogecoin.
Segregated Witness increases the numbers of transactions that can fit in a block by removing (segregating) the signature data (the witness) from the transaction details on the blockchain.
DigiByte was the first Altcoin to incorporate SegWit in to its code in 2017. Multi-Shield mining algorithms used by DGB like SHA256 (20%), Scrypt (20%), Odocrypt (20%), Skein (20%), and Qubit (20%).
This is important because, the more miners in the blockchain, the more secure the blockchain becomes. DigiByte can scale up to 1066 transactions per second, which is 40 times faster than the Bitcoin Network, and 10X faster than the Litecoin network.
SegWit, which is a secondary protocol enables the blazing speed transaction by making things possible with slowing non-segwit chain down. Another characteristic, which adds to the speed of the network is the rigidity of the max transaction size and variable block size. This means the block doesn’t have to be full. It can be mined at the 15 second block time.