DigiByte is an open-source blockchain based on Bitcoin that was developed in 2013 and released in 2014. DigiByte differs from Bitcoin in its confirmation speeds and protocol parameters that its creator, Jared Tate, deemed better for network decentralization and transaction security. The DigiByte blockchain was the second major blockchain to implement Segregated Witness via a soft work in April 2017. The first Digibyte gensis block was mined on January 10, 2014, and included the headline from USA Today: “Target: Data stolen from up to 110M customers,” underscoring its motivation for digital security.
DigiByte mines with 5 different algorithms (compared to Bitcoin’s 1 mining algorithm), which the core developers chose to improve protocol security. 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 four hard forks: DigiShield (February 18, 2014), MultiAlgo (September 1, 2014), MultiShield (December 10, 2014), and DigiSpeed (December 4, 2015).