What is Digibyte’s Greatest Feature or Asset?

I’m Back! I want to thank every one of you who took the time to read my first post “My Crypto Journey”. Thank you all for the kind words, the words of encouragement, and for sharing some of your own personal stories. A fun feature that is included with my WordPress™ subscription is the “stats” tab.  Using this feature I am able to see exactly which country each and every visitor hails from (unless y’all are spoofing your location using a VPN). To say Digibyte is a decentralized, global blockchain would be pretty accurate based on my anecdotal evidence. In less than a week my blog received 100+ unique visitors from 24 countries. Visitors to the site clicked from all over the world. From the United States, to Slovenia, to China, to Chile, to Australia, and even 1 visitor from Jersey (the country, not the state). The strength and reach of the Digibyte community is something to behold. I tweeted out the link to that first post and it has received at least 27 re-tweets and 75+ likes. That may not sound overly impressive, but when you consider the fact that prior to that tweet I had a grand total of 3 followers (not a typo, that says 3 followers), I’d say those numbers are insane. I would also like to shout out all of the people on Reddit and Telegram who gave me love and likes on those platforms. Anyway, enough babble, time to get to the new entry.

What is Digibyte’s Greatest Asset or Feature?

This is my attempt to list the things that make Digibyte the greatest blockchain on planet earth, and then try to add my own personal description and commentary on the subject matter. First, I will list the honorable mentions, then at the end I will give what I believe are the top 3 assets or features. Without further ado.

  • Digi ID – Open source project that allows users to login to nearly any account using the safety and security of the Digibyte blockchain. No more need to remember a 43 character password that must contain at least 1 of each of the following: Symbol, Number, Uppercase Letter, The Blood of Christ, and a Strand of Hair from your Neighbor’s 2nd Born Child. Digi ID will simplify any login by only requiring a QR code scan. This will then send an encrypted message to the website containing the login information.
  • Digi Assets – Tokenizing of assets on the Digibyte blockchain. Digibyte has already been a leader in security and speed, now it aims to be a leader in the token game. Move over Ravencoin and Ethereum, Digibyte is here to improve the usability and scalability of tokens by creating easy to use tools and interfaces. This will allow a person such as myself (I have the technical background of a 2-year-old chimp) to easily create and transact tokenized assets on the Digibyte  blockchain. Though it has not been officially released, I imagine an online marketplace where the end-user does not know or care how the tech works, but knows that all assets are legit and fraud proof.
  • Dandelion – Security layer soon to be implemented on the Digibyte Core. Will make it difficult to identify the users IP address, so that way you know your stash isn’t subject to a physical attack by a thug stalker, who also happens to be a tech genius (hey, you never know).
  • 100+ Exchanges – Do you want to cash out your DGB for fiat (boooooo!), or swap to other cool projects such as Bitcoin, Litecoin, Vertcoin, or whatever else floats your boat? Whatever you choose, you can now do at more exchanges than my score for Mila Kunis on my celebrity crush scale (a solid 99).
  • 5 Mining Algorithms – Just another amazing security function of the Digibyte blockchain. The use of 5 different mining algorithms ensures the blockchain is safer from attacks (not from the thug stalker this time, sorry). The Digibyte team has also created Multishield (formerly known as Digishield), to compliment the 5 mining algorithms. Multishield adjusts difficulty in real-time for each algorithm automatically ensuring a 51% attack is nearly impossible (not completely impossible as Charlie Lee himself graciously pointed out).
  • 5+ year track record – Naysayers will say this is a negative. You will hear “5 years and still barely a top 50 project”. I respond to those naysayers with a question.” How many projects that were top 50 projects in January 2014 are still in the top 50 today?” The answer for those keeping a tally is 6 (including Digibyte). That is correct, 6! Sorry Hobonickels, Fedora Coin, Copper Lark, and Quark, but you did not stand the test of time (yes those were all real cryptos in the top 50 according to Coin Market Cap 2014 snapshot). The other 5 coins in case you were wondering: Bitcoin, Litecoin, Doge, XRP, and Dash. Thousands have come and went in those 5 years and 6 projects have stood the test of time and maintained consistency in the top 50.
  • Decentralization – 200,000+ nodes (I wish this number were updated for better or worse, so I could state this claim more confidently). No CEO, no Board of Directors, no Investment Management Firms, no scammy ICO. Digibyte can certainly make the claim that is one of the most decentralized blockchains in existence. If I want to appoint myself Digibyte’s official CDB (Chief Digibyte Blogger), I most certainly can. I don’t need Jared Tate’s approval, the developer’s approval, or anybody’s approval for that matter. Now that I say it out loud to myself “Chief Digibyte Blogger”, I kind of like the ring to it.
  • I, Eric Henjum, hereby declare myself Digibyte’s official CDB. All those opposed say “Yep, he has that power, nothing I can do about it”.
  • Innovation – The fact of the matter is, Digibyte has consistently and actively been evolving the blockchain space since its inception in 2014. Since it was forked from Litecoin, Digibyte has been under a constant state of transformation. The Digibyte of January 2014 looks nothing like the Digibyte of today. This should probably be in my top 3, as all of the innovations made to Digibyte have been at the forefront of the crypto space as a whole. Many features created by the Digibyte developers have been used on numerous other blockchains and done so completely open sourced. Few projects can make the claim that they have evolved as much as Digibyte. Digibyte has gone from Litecoin’s youngest baby sibling to the grown up, more masculine, more handsome sibling that everybody admires and tries to replicate. Pretend cryptos are the Wahlberg brothers. Bitcoin is like Jim, Arthur, Paul, and Robert Wahlberg combined. Very important in the family structure and helped their younger brothers become who they are today. Then comes Litecoin, the Donnie Wahlberg of the family. The better looking, more successful brother, but still has quite a few flaws. Last comes Digibyte, the Mark Wahlberg of the family. The sexiest, most loved of the bunch (The Funky Bunch).
  • Transaction Fees – Nearly non-existent. Even if Digibyte becomes the most widely used crypto and worldwide adoption happens, the fees would still be minimal. Enough Said.

Digibyte’s Top 3 Features or Assets (According to Me)

3.      

Speed – This is initially what caught my eye, like Mila Kunis standing in a room full of rejects. Digibyte has an average transaction time of 15 seconds, compared to Bitcoin’s 10 minute transaction time and Litecoin’s 2.5 minute transaction time. My 5th grade math skills tell me that Digibyte is 10x faster than Litecoin, and 40x faster than Bitcoin. Due to Digibyte’s block size increase, coded to double every 2 years or so, it also leads in the Transaction Per Second (TPS) race. Bitcoin currently sits around a whopping 6 TPS, while Litecoin can handle over 9x that of Bitcoin at 56 TPS. Digibyte makes that look like Child’s Play (not the epic 80’s movie). Digibyte currently has the ability to handle 560 TPS, which is currently 10x faster than Litecoin and 93x faster than Bitcoin. This year (2019), Digibyte will again double its block size and will be able to handle up to 1,080 TPS. By the year 2035, Digibyte will be able to handle 280,000 TPS. To put that into perspective, Visa currently handles about 1,700 TPS based on their official claim of 150 million transaction per day. Theoretically, Digibyte could handle 24,192,000,000 transactions per day by 2035 (That is over 24 billion transactions per day!)

2.

Jared Tate – Jared is the creator and founder of Digibyte. Jared is not the President, the CEO, or self-appointed dictator (though I suppose he could if he wanted to be). Every person in the Digibyte community already know’s Jared’s importance as the creator and lead developer. We see his continuing commitment and passion for the project. We see him remain humble, where others have drowned in their own ego. We see him engage the community members and encourage the efforts of every individual (he even liked my tweet!). We witness him volunteer crazy amounts of his personal time to these efforts. We have seen first hand the man’s genius and leadership skills. Jared does all of this with no promise of riches, as he is not holding any bags of a pre-mined ICO. He chooses to stay partially in the shadows while feverishly working and developing the Digibyte project. Jared Tate does not dream of being a celebrity like Craig S. Wright, or bask in the glow of the lime light like Charlie Lee. He doesn’t sweat cockiness out of every pore like Richard Heart, or pressure young girls into sexual favors like EOS’s Brock Pierce(Too Far?). Jared Tate is still Jared Tate, and that is what sets him apart from so many others in this space. If I could make my own personal crypto creator dream team it would look like this: Satoshi himself (the Michael Jordan of the team), Jared Tate (the Scottie Pippen who glues the whole team together with his creativity and unselfishness), and Vitalik Buterin (the Dennis Rodman type whose lovable strangeness and inner genius makes sure the team is cohesive). Although we recognize Jared Tate’s work ethic and genius within the community, he still flies under the radar in the crypto community as whole (and I would bet he prefers it that way). 

1.    

The Community – I touched on this in the intro, but this community is undoubtedly Digibyte’s numero uno asset. To those who are here, and to most who are reading this, it comes as no surprise. This community has so many big personalities like the Youtube influencers like Digibyte Dan, and The Crypto Mug Investors (My Digibyte People!!!!!, What’s Good Guys?). To the educators of the bunch like CryptoCurrently and Amon Unlimited, whose valuable skills showcase Digibyte’s technological advances as well as other works of the community. To the members of the Digibyte Awareness Team (DGBAT), who tirelessly work spreading the Digibyte Gospel, and working countless hours behind the scenes ensuring Digibyte stays a leader in the crypto world. To the core development team doing all of that nerdy coding that continues to make Digibyte the greatest blockchain in existence. To the countless others in the Telegram groups, Reddit, Twitter, Youtube, and all over other social media outlets. We come from different countries, different religions, different political affiliations. Some of us devote nearly every passing moment contributing to the project, some of us may only check periodically for updates and silently cheer from the sidelines pulling for the underdog. No matter our differences or our contributions, we all have at least one thing in common.

We Are Digibyte!

My Crypto Journey

The smell of latex and hand sanitizer penetrated my nose. The bright light pierced like a thousand daggers as the cold air hit my lungs with the fierceness of a brutal January blizzard in Minnesota. Why! Why did I have to leave the comfort of my Mother’s womb?…….Nah! Just kidding.

Flash forward 28 years or so. It is the spring of 2015. I have never been the type of gambler that blows their whole paycheck at the casino, but was longing for the days of blowing $20 dollars in online Texas Hold’em. The government had all but shut down these sites and squashed all online gambling in general here in the United States. I had a few beers that night while reminiscing about all of the money I had lost on Poker Stars. So, began my search for an alternative poker fix. It only took a few minutes to discover multiple options. There was a major catch however. All of these sites were using this mystery currency called Bitcoin to gamble. Not really wanting to be lumped in with the drug dealers and human traffickers I had associated with Bitcoin, I decided to keep searching. After a few more beers and no luck, I decided to try out a site called “Nitrogen Sports”. Not only did this site have Texas Hold’em, but also the glorious world of sports gambling, which I had only experienced in my couple trips to Las Vegas. Now all I needed is to purchase Bitcoin, and I’ll be gambling to my little heart’s content. I did a little more research using the Google machine, and quickly realized Bitcoin was much more than some digital play currency for pimps and dealers. One problem still…..how do I purchase this stuff. It seems like any exchange that exists are scams waiting to steal your money(Mt. Gox, I’m looking at you), or some shady Chinese company looking to steal your bank account info. I did come across this relatively new exchange that was gaining tons of popularity and had all the makings of a legit company. My gut was still telling me not to give this company my bank account information, but 8 Budweisers were telling me to give Coinbase all my money. The Coinbase app made purchasing Bitcoin really quick, painless, and easy(didn’t have KYC yet, so no I.D. required). Unfortunately, I never got to play Texas Hold’em or bet on sports that night, as I had to wait what felt like an eternity for my bank account to get approved and my Bitcoin to be deposited. About 7 days later, I had my nearly 0.5 Bitcoin that I had purchased for $100 and was primed to get my gamble on. I transferred the funds to Nitrogen Sports, which was way easier than I presumed it was going to be. I brought my Bitcoin to the virtual poker room with all the giddiness of a 6-year-old boy unwrapping a Nintendo on Christmas, just to have my dreams crushed. The poker room was dead. I got socks for Christmas. Well, I could always bet on sports. One problem. I bet most of my Bitcoin on Minnesota sports teams(if you follow Minnesota sports, you would realize how foolish this was). A few bets on the Twins, future bets on the Timberwolves, Twins, and Vikings to win their respective championships, and my Bitcoin was gone(well mostly gone and this will be relevant later in my story). My gambling career was over.

Gambling may never work out for me, but I found this thing called Bitcoin, which kind of mixed gambling, investing, and freedom in one nutty little experiment. I decided to contribute $50 dollars a month to this experiment, partially as a speculative investment and partially as a middle finger to Fiat(oh, all of the fun lingo I’ve learned). I became emotionally invested in the Bitcoin Scaling debate(I chose the side of the r/Bitcoin gang on Reddit). I began studying Ethereum and was intrigued by smart contracts and Dapps. The whole time I continued putting $50 a month into Bitcoin. Eventually, I had 3.5 bitcoin to my name and had only invested about $800. This is now the spring of 2016 and my wife and I decided that we would start saving to purchase a home. That meant no more internet play money would be bought. That summer was spent saving all of our fiat for a house and enjoying my son play baseball. Bitcoin was no longer on my mind and I was taking a break, beside the intermittent checking of Coin Market Cap. If you think I’m about to tell you that I hodled(lingo) and sold my Bitcoin at its peak, or I found Digibyte one warm Summer’s night, you would be greatly underestimating the path of this winding crypto journey. By the middle of summer 2016, I was experiencing my first pump(lingo). Bitcoin’s price had shot all the way to over $700. After telling my wife with pure joy and excitement that my play money had tripled in value, she had convinced me to sell so we could help cover moving costs. I sold that 3.5 Bitcoin, for $2500(Over 3x what I had initially invested), and I sold right at Bitcoin’s peak. I’m a genius! Bitcoin dumped(lingo). It retreated almost instantly back into the $500’s and I was feeling great about my decision. That’s right boys and girls, I sold at Bitcoin’s peak, if you would like to sign up for trading classes and tutorials, you are looking at crypto Warren Buffet. We used our money to help with moving costs and moved into our new townhouse, complete with a pool table in the mancave.

While watching the Vikings stomp their opponents in the mancave surrounded by Minnesota sports memorabilia, I remembered I could throw away more money at these worthless Minnesota teams. Fired up the old Nitrogen Sports app and found that measly 25 cents that I had left in my account had ballooned to over $1. I purchased $50 dollars worth of Bitcoin on Coinbase, but while I was waiting, I decided to make some crazy parlay(gambling lingo) with that remaining Bitcoin. I made a 15 game parlay on that weeks NFL games, betting the spreads and money lines, concluding with Sunday night’s match of Green Bay vs. New York Giants. If you think I am about to tell you I hit every game of the parlay……you are right. After watching the first 14 games of the parlay play out exactly has I predicted, it all came down to that Sunday night matchup. For those that do not know how a parlay works, you bet on multiple outcomes, you either hit everyone exactly correct and you win a huge payout, or you miss just 1 outcome and you lose your bet. So, even if I hit on the first 14 games, but lose this last one, I win NOTHING! I bet the Giants to cover +7.5 meaning a Giants win, or a Giants loss by 7 points or less and I win over $500 worth of Bitcoin. 4th quarter and the Giants are down 23-9. Giants have the ball with under 3 minutes remaining and Eli Manning finds Odell Beckham Jr. in the back of the end zone(And I mean the back. The play had to be reviewed as there was only a half blade of grass between his toes and the white line). Odell ran to the sideline and hugged the kickers net that he assaulted the previous week(google it). I also was hugging inanimate objects with pure joy. The Packers ended up running out the clock and the Giants lost by exactly 7 points. This time I was going to invest my earnings and get back into the crypto game.

To be honest, my wife felt really bad about convincing me to sell my initial Bitcoin investment for the house, and she had urged me to buy some more crypto. I followed her advice, but this time Bitcoin was off my radar. I wanted to put this money in some other projects that had promise in my eyes. I went on Coin Market Cap and studied the top 20 coins or so. As far as I could tell Bitcoin was still king, but 2 projects really caught my attention. Litecoin and Ethereum. Litecoin was a fork off the Bitcoin blockchain and by my estimation was 4x better in every category. 4x faster(2.5 minute blocks), 4x supply(great for price adoption), and only 1/4 the price of Bitcoin(lies). Litecoin was superior in my eyes and based on supply should be 1/4 Bitcoin’s price, but was closer to 1/200 Bitcoin’s price. Mentions of segwit and atomic swaps confirmed this notion and I could not believe how undervalued Litecoin was(and still is). I could potentially swap my Litecoin for Bitcoin in the future using a decentralized smart contract, in my basic knowledge of the cryptosphere, it only seemed logical Litecoin’s price would eventually catch up to Bitcoin’s. The creator of Litecoin was also a huge plus for me. He was a current employee at Coinbase(yes, I heard the rumors of it being added to Coinbase), he was outspoken, smart, funny, and witty. Some people really seemed to hate Charlie Lee, but I found him charming and a breath of fresh air in the mostly dull crypto space. I decided to buy an even 100 Litecoin for less than $400 dollars, and with the rest I decided to buy an even 10 Ethereum for just over $100. Ethereum was intriguing because of smart contracts, Dapps, and there strange, yet charming founder(Vitalik Buterin). Again, I stepped away from crypto for quite some time. Settled into the new house, and by next summer I was again watching my son’s baseball team. I hadn’t even been checking prices and was just enjoying life outside of crypto. I had heard the news that Litecoin was added to Coinbase a while back, but figured there wouldn’t be that much price movement. Boy, was I wrong. My 100 Litecoin were now worth over $4,000 and my 10 Ethereum were now worth over$3,000. That $500 was now worth over $7,000 in less than a year. I again started checking prices daily.

Thanksgiving 2017, I am eating dinner with my wife’s family and telling anybody who would listen about Bitcoin, Litecoin, and Ethereum, and all I received back were blank stares and looks of confusion. I tried explaining how crypto was going to the change the world and was met with not only skepticism, but they were convinced I was caught up in a Ponzi scheme or some new virtual, internet cult. I proudly showed them my gains I was making and the next day showed them how those insane gains had gone up another 50% over night, which I think only made them more skeptical. That next couple of weeks were very strange. I started dreaming about Lambos, Moons, and Chickun. I really started to think it could put me on the Forbes list, or at least a list of nicest cars on my block. I watched in disbelief as my portfolio mooned to over $10,000. I told myself if Litecoin hits $200 dollars I was selling at least half my stack. For a guy like me, who mostly lives paycheck to paycheck, this is life changing money already. It didn’t take long. December 11th I was habitually checking Coin Market Cap every 5 minutes, which had become customary over that 2 weeks, when I watched as Litecoin spiked above $200. I seriously considered faking sickness so I could leave work early to cash out. I resisted, but once 5 o’clock hit, I was out that door like Usain Bolt at the sound of the starting gun. I called my wife to tell her the good news, she was mildly excited, but reminded me my 11-year-old son had a choir concert at 6:30. I would not have enough time to transfer the funds from my ledger to Coinbase and make it to the concert. I begrudgingly went to the concert( I love my son, but man was that a tough decision). Got home rather late, sleepy from the excitement of a choir full of 11 year olds, and found the laptop dead. After the choir concert, most my excitement had vanished and I was feeling YOLO. F*ck It! Let it ride. HODL til the day I die! I hardly slept a wink that night and woke up tired for work. Again checking the price every 30 seconds this time, because the price was just accelerating. I’d check the price and then 30 seconds later, Litecoin would be up another $10. By the time I arrived home Litecoin was over $300. I quickly dug my ledger out of safe keeping, and started incrementally transferring funds to Coinbase and transferring to my bank account. I ended up selling half my stack(50 Litecoin and 5 Ethereum), totalling almost $20,000 at the time of sale. I decided to HODL the other half. This…..was life changing money. I paid off my wife’s car, 2 credit cards, and some small misc. bills(I know not very exciting, no Lambo, but the proud owner of a 2012 Kia Sportage). I watched in dismay as the bulls ended in January, but I still had money in the game and was looking to further my understanding of ALL crypto.

After I watched those insane gains come plummeting back to earth from the moon and leaving a crater in my soul, I decided it was time to find the next Bitcoin, Litecoin, or Ethereum. This time I was going to investigate ALL projects. I brought up Coin Market Cap again and started with the top 50 coins, then the top 100, then the top 200, and I even dabbled in the 200-300 range. Researched all of the ICO’s(really liked BAT), read numerous white papers(boring and full of BS), explored the communities on Twitter, Reddit, Telegram, etc.(mostly angry and disgruntled), but only 1 I kept coming back to. You guessed it…….Ripple. Well….actually the opposite of everything Ripple stands for….Digibyte. Thats right, the little coin nobody ever really looks at. Everything about the coin, is originally why I fell in love with crypto in the first place. Can I use it o gamble with…Check. Can I purchase a cup of coffee for very low fees and extremely fast…..check. Is it decentralized….check. Is it safe……check. But there was even more. The creator and developer of Digibyte is still very active in the community and still actively developing and growing Digibyte. The other members of the community are just as passionate as Jared Tate about the project and very, very rarely angry or disgruntled. Price matters, but is about 10th on the list of worries or focus of the community. The positivity of the community was such a breath of fresh Minnesota air after sludging through the cess pool of other communities. The goals are clear: Remain decentralized, remain open source, continue the growth of the blockchain, focus on security and privacy, and most of all stay passionate. I decided to put most of my remaining portfolio into Digibyte. Through the ups and downs(mostly downs in terms of price) of 2018, I myself stayed focused on development and learning. Price just doesn’t seem to matter anymore. I try to stay active on Reddit, Twitter, and Telegram, mostly just trying to spread the good news of developments to Digibyte. To be honest I could really care less if Digibyte drops to $0.000001 or not. I am in this project until the end. This community is intelligent, fun, passionate, and friendly.

I’ve decided my way of contributing to this cause, is to write some boring blogs that may or may not interest anybody in the crypto community. I want to write about my experiences and also write about upcoming developments in the space and share some knowledge. I hope you enjoyed my first post and if you made it all the way to end….Congratulations! Please comment on the post and I will send you 25 DGB.

P.S. The picture used for this post and my profile pic was created by my talented mother. This was a special Birthday commission 🙂 I found a picture on Google and she drew and painted it for me(freehand).