Robust security + The Immutable Ledger
- At the core of cryptocurrency security is decentralisation. As stated before decentralisation is ensured on the DigiByte block chain by use of the MultiAlgo approach. Each algorithm in the MultiAlgo approach of DigiByte is only allowed about 20% of all new blocks. This in conjunction with MultiShield allows for DigiByte to be the most secure, most reliable, and fastest UTXO block chain on the planet. This means that DigiByte is a Proof of Work (PoW) blockchain where all transactional activities are stored on the immutable public ledger world-wide. In DigiByte there is no need for the Lightning protocol nor sidechains to scale, and thus we get to keep PoW’s security.
- There are many great debates as to the robustness or cleanliness of PoW. The fact remains that PoW block-chains remain the only systems in human history which have never been hacked and thus their security is maximal.
- For an attacker to divert the DigiByte chain they would need to control over 91% of all the hashrate on one algorithm and 35% of the other four. And so DigiByte is immune to the infamous 51% attack to which Bitcoin and Litecoin are vulnerable.
- Moreover, the DigiByte block-chain is currently spread over 280,000 plus servers, computers, phones, and other machines world-wide. The fact is that DigiByte is one of the easiest to mine coins there is – this is greatly aided by the release of the One Click Miner. This allows for ever greater decentralisation which in turn assures that there is no single point of failure and the chain is thus virtually un-attackable.
Since security is utmost priority from the begining the digibyte has made sure that one can not spend brand new minted coins for at least 50 blocks. So spending in first 50 blocks is impossible let alone double spending.
Has there been an attack on DGB?
As every chain gets battled hardened, the same is true for Digibyte.
People have tried and even succeeded at attacking DGB. Though the successful attacks were result of a bug that allowed sha256 miners to overwrite the valid chain with there own shorter chain. This bug was quickly fixed and there have been no successes since.