A Quick Comparison of DigiByte (DGB) and Bitcoin (BTC): Which Is Better?
A Quick Comparison of DigiByte and Bitcoin
Do you know that many cryptocurrency investors fail to compare the currencies and make decisions regarding trading? For example, it’s difficult to read all the pages out there comparing DGB and BTC. How about we do it for you and compare the currencies in one single article?
This article is one perfect place to understand DGB and BTC histories, features, and many other facts. Moreover, you get the chance to learn how to convert DGB to BTC with Godex.io. If you are interested, let’s get started now.
Table of Contents
History of the Currencies
Bitcoin started in 2009 from a whitepaper published by an unknown person called Satoshi Nakamoto. The inventor was the world’s first to make a decentralized digital currency.
DigiByte first came into existence officially in 2014. In 2017, a separate transaction signature (SegWit) was created for better blockchain operation as the first altcoin. DigiAssets and the DigiByte Foundation were launched in 2019 and 2020 respectively.
Comparing DGB and BTC
- Bitcoin: A SHA-256 algorithm is used for the blocks and the other algorithm to create difficulty adjustments. Miners use the difficulty adjustments to compete for hash power.
- DigiByte: DigiByte uses five algorithms for mining – Sha256, Scrypt, Skein, Qubit, and Odocrypt.
- Bitcoin: The Bitcoin system successfully protected the decentralized nature of the coin despite having external influence to control it.
- DigiByte: Multiple algorithms help the currency exercise better decentralization than other digital assets.
Security and Safety
- Bitcoin: The SHA-256 algorithm provides safety to Bitcoin.
- DigiByte: There is a 51% chance of hacking possibilities for the PoW consensuses.
- Bitcoin: Bitcoin has a speed of four transactions per second.
- DigiByte: DGB has a transaction speed 40 times that of Bitcoin.
- Bitcoin: The average fee for transactions is $29.02.
- DigiByte: The average transaction fee for DGB is $0.0005.
Demand and Adoptions
- Bitcoin: Bitcoin’s popularity is increasing day by day due to preservation of value.
- DigiByte: DGB is less popular, and mass demand is yet to be discovered.
Which Currency Is Better?
In terms of safety, speed, and mining operations, DGB is much better than Bitcoin. The 40-times transaction speed difference can be a game-changer in the industry. On the other hand, Bitcoin has better popularity and demand among investors.
In different use cases, both currencies have strengths. BTC has limited supplies and so creates massive demand. In contrast, DGB is fast, cheap, and has better scaling opportunities. So both can serve two different user bases.
Exchange DGB and BTC in Godex
- Select the currencies.
- Input wallet address.
- Deposit the currencies to start the exchange.
- Godex will start an anonymous exchange process.
- A completion page will appear.
We studied all the factors to compare DGB and BTC and present this quick guide to you. Both assets have their own strengths and weaknesses. We discussed how DGB can provide better fees, speed, and security.
On the contrary, BTC can significantly challenge DGB in terms of popularity. Since you might be interested in BTC after reading this article, you can try the Godex platform to exchange DGB for BTC. Just remember that the choice of the coin is always up to you.
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