Here's a small intro before we begin. I will be making a small series of facts about DigiByte. I am making this series because there seems to be a lot of confusion around some of these subjects. Simple as that, hope you vote, follow and share these for the whole world to see. So without further adieu. Here we go.
DigiByte Fact No1: Transaction Speed and Block Time
As I have witnessed. People seem to be confused about DigiByte transaction speed and block time. There have been many charts and comparisons that I have had to correct as some people just don't seem to understand the difference between transaction speed and block time.
Let's get these two sorted out.
First of all transaction speed is the time a system takes for it to complete a transaction and block time is the average time of what it takes for the network to generate a new block.
DigiBytes transaction speed is 1-2 seconds.
DigiByte has a block time of approximately 15 seconds.
So you see it is obviously very important to differentiate these two.
So what does all this mean you might ask. Well it means that when you send, let's say 1 DGB, 100 DGB or 1000000 DGB from a wallet to another wallet, it takes only 1-2 seconds for it to transfer because of the high transaction speed. The DGB received on the other wallet can not be used imidiately but after it has "matured" somewhere below 15 seconds because of the block time.
Oh and don't get TX (TXN) and TPS (TX/s) confused. These are as follows:
TX (TXN): Transaction
TPS (TX/s): Transactions Per Second
DigiByte can handle 560 TPS today. This means it can handle all the transactions of the TOP 50 blockchains out there combined and still not have any issues. Also as DigiByte scales in time, it will do a whopping 280,000 TPS by the year 2035. Of course this all is done on the blockchain so there is no compromise on decentralization or security as nothing has to be managed or handled off chain.
Looking at DigiByte there really is no reason to go off chain. The proof is in the pudding.
Here's something to think about. As of writing this there is NO other minable UTXO coin out there that can match these lightning fast speeds and with it's 5 mining algorithms providing a greater security than most other coins as it is not even susceptible to 51% attack, but more on that on another DigiByte fact.
Keep in mind that DigiByte does not compromise when it comes to Security or Decentralization.. Maybe a bit on marketing ;) But hey, it's a community driven coin after all. There is no company. No CEO. This puppy can't go under. Ever.
For more information. Check out DigiByte website @ https://digibyte.io
Don't forget to Vote, Share and follow if you are looking forward for the next DigiByte Fact.
P.S. If you can point out any mistakes, please comment below and I will fix asap. Oh and don't try to fud, I will always check the facts and that is a rap fact.
Cheers!
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