DigiByte Surges 13%

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DigiByte’s Token is on Fire! 🚀 13% Surge in 24 Hours!

So, you wanna know what’s cookin’ in the world of DigiByte? 🤔 Well, let me tell you, folks! Their native token, DGB, has gone from zero to hero, soaring by 13% in just 24 hours! 🚀 That’s like me going from a pauper to a prince (but without the dignity, of course) 😂.

According to crypto.news, DGB (DGB) has gone up by 13.2% in the past 24 hours. On March 25, the token reached a new weekly high of $0.009392, and I’m sure the DigiByte community is doing the cha cha slide! 💃🏽

At press time, DGB is trading hands at $0.925. Its market cap has increased alongside its price surge, currently amounting to around $162 million. That’s like me winning the lottery (but without the taxes, of course) 🤑.

DGB is a peer-to-peer cryptocurrency and blockchain protocol that was launched in 2014. DGB tokens are usually used to facilitate payment for decentralized application and smart contract transactions on the blockchain. In other words, it’s like a digital wallet for your digital dollars! 💸

The tokens can be mined through a proof-of-work consensus using computational power to solve complex mathematical problems, validating transactions, and adding them to the blockchain. It’s like a digital game of “mine, mine, mine!” 🎮

Both DGB and BTC rely on a proof-of-work mechanism to secure their blockchains. While DigiByte also follows a PoW model, it employs five different mining algorithms, which are SHA-256, Scrypt, Skein, Qubit, and Odocrypt. It’s like having a Swiss Army knife for your mining needs! 🗡️

DGB’s multi-algorithm approach helps to prevent the centralization of mining power and makes the network accessible to a wider range of hardware—from ASICs to GPUs and CPUs. It’s like a digital melting pot of mining goodness! 🌎

At the moment, DGB’s circulating token supply is at 17.60 billion, which is around 83.8% of its total supply. Meanwhile, there is still approximately 3.40 billion DGB that can be mined or around 16.2% of its total supply. It’s like a digital treasure hunt! 🏴‍☠️

Why is DigiByte’s token trending?

The DGB token has been on the rise since the blockchain has been considering an upgrade to its system called the Taproot Activation process through the BIP-9 soft fork. So far, 95% of its blocks have indicated support for DigiByte adopting the Taproot Activation model. It’s like a digital popularity contest! 🤩

According to the site, Digibyte has already begun the process of Taproot activation. However, it is not fully active yet. It’s like a digital countdown to the big reveal! 🎉

Initially deployed on Bitcoin in 2021, the Taproot upgrade is a collection of protocol updates that introduce new features that change the way blockchains process transactions. With the Taproot upgrade, transactions require less data and less work as multiple signatures can be combined for verification, rather than being aggregated individually. It’s like a digital speed bump for your transactions! 🚧

Additionally, it can also improve smart contract functionality on the blockchain. In Bitcoin’s case, this feature expanded on the types of transactions that could be processed through native smart contracts on the blockchain. It’s like a digital superpower for your smart contracts! 🦸‍♂️

Another key benefit brought in by Taproot is the reduction of fees on the blockchain. The upgrade is able to streamline how data is processed, therefore cutting down on resources which leads to lower costs for users. This is one of the reasons why the upgrade is highly anticipated by the DigiByte community. It’s like a digital discount for your transactions! 🎁

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2025-03-25 15:12