DigiByte is a public, rapidly growing, decentralized blockchain.
From the year 2014 through 2035 21 billion DigiByte be created in 21 years.
DigiBytes are digital units or "digital assets" that cannot be destroyed, counterfeited or hacked, making them ideal for digitally representing objects of value like currency, information, property or important digital data.
DigiByte was created by Jared Tate.
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Think of a series of Excel spreadsheets linked together.
Blocks occur on the DigiByte network every 15 seconds. Think of a block as an Excel spreadsheet that records all the transactions that occur on the DigiByte network in the span of 15 seconds.
Mining is the proof of work cryptographic process that secures the DigiByte blockchain and allows for new DigiBytes to be minted.
DigiByte is unique in the fact that it has five independent mining algorithms that further enhance DigiByte's security.
The Genesis block is the first block in the blockchain. DigiByte's Genesis block was generated on January 10, 2014. The Genesis block for DigiByte was hashed from the headline: "USA Today: 10/Jan/2014, Target: Data stolen from up to 110M customers."
UTXO is geek-speak for “unspent transaction output.” Unspent transaction outputs are important because fully validating nodes use them to figure out whether or not transactions are valid– all inputs to a transaction must be in the UTXO database for it to be valid.