Mary | Satoshi Club:<\/strong> Hello, Satoshi Club! We are happy to announce that our guests today are from Digibyte! Welcome to Satoshi Club:grinning: @hanskoning<\/a> @RudyBouwman<\/a> @Rutger_Krijnen<\/a><\/p>\n\n\n\n Rutger Krijnen:<\/strong> Hi guys! Nice to e-meet you all from the Satoshi Club Channel! My name is Rutger Krijnen, co-founder of the DigiByte Foundation: https:\/\/digibytefoundation.io\/<\/a> GoldRocket27: <\/strong>Hi all and welcome @hanskoning<\/a> @RudyBouwman<\/a> @Rutger_Krijnen<\/a>!<\/p>\n\n\n\n Rudy Bouwman:<\/strong> Nice to be invited in this group for this AMA. My name is Rudy Bouwman and I’m the secretary and vice-chair of the DigiByte Foundation. I have been working in the Information Technology for more than 30 years. I have an education in Information Technology and finished a study Senior Management at the Institute of Social Sciences in The Netherlands. Starting as a computer engineer, I developed my career in different management positions and the last 20 years I have a position as shareholder and Director in a IT Maintenance company. In 2017 I started learning about Blockchain Technology and was convinced about the revolutionary impact on society and felt the need to be involved. I have applied my knowledge and business experiences as core member of DigiByte by reaching out to companies, building and maintaining international relations, and looking for integration opportunities and development of real-world use cases for DigiByte. I also was involved as CMO and Co-Founder of the DigiByte Awareness Team back in May 2018. Together with Hans and Rutger I am one of the Founding board members of the DigiByte Foundation. As a volunteer, I joined as Secretary and Vice Chairman. The Foundation is here to empower the DigiByte community, to be a voice of the community as a whole and to protect the principles of true decentralization. The DigiByte Foundation is still very young and therefore rapidly developing.<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> How old is DigiByte Foundation? Was it founded with DigiByte project or later?<\/p>\n\n\n\n Rudy Bouwman:<\/strong> DigiByte Foundation got registered in January this year (in The Netherlands). The DigiByte project is already around for almost 7 years<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Yes, i know about DigiByte priject:grinning: it was around all the time i am in crypto)<\/p>\n\n\n\n Hans Koning: <\/strong>Hello everyione. My name is Hans Koning. Mary | Satoshi Club: <\/strong>Good connections is the key<\/p>\n\n\n\n Hans Koning:<\/strong> Yes and also building good connections! As DigiByte is 100% permission less and decentralized, we got listed and integrated everywhere 100% for free, as DigiByte is truly decentralized, just like Bitcoin!<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>What are the main functions of Foundation?<\/p>\n\n\n\n Hans Koning: <\/strong>Nice question. Mary | Satoshi Club:<\/strong> Yes, i think there isn’t even one person in crypto space that haven’t heard about DigiByte, your commynity incredibly active<\/p>\n\n\n\n Hans Koning: <\/strong>Very much so. Mary | Satoshi Club: <\/strong>Btw, DGB was one of the first coins I bought in May 2017 on Poloniex) so I have a special relationship with you. But my account was hacked and hackers sold everything))) while I restored it DGB was already on its road to the moon).<\/p>\n\n\n\n GoldRocket27: <\/strong>Sad old story;)<\/p>\n\n\n\n Rutger Krijnen: <\/strong>Ah! thats a hard story indeed! I hope you got back in on time! And indeed: one of the hard lessons in Crypto is: Not your keys, not your Coins! Yes, we like trading, but for storage you must use your own wallet! For DigiByte there are a ton of good choices for wallets: https:\/\/digibytewallets.com\/<\/a> . As you can see, DigiByte has their own secure wallets on Mobile and PC and MAC and DigiByte is integrated in all the leading wallets!<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Yes, it was the best lesson i got:grinning: <\/p>\n\n\n\n Rudy Bouwman:<\/strong> DigiByte mobile wallets are available in more than 55 languages<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Yes, i was so glad when saw, that it is available in Ukrainian language :+1: my personal thank to you:grinning:<\/p>\n\n\n\n GoldRocket27: <\/strong>I use Russian. And this is very convenient.<\/p>\n\n\n\n Rutger Krijnen: <\/strong>Ah awesome! So you use the Official DigiByte Mobile wallet in Russian language?<\/p>\n\n\n\n GoldRocket27: <\/strong>Yes of course! Please give Link for our community too<\/p>\n\n\n\n Rutger Krijnen: <\/strong>The links are here available on the official DigiByte Website: https:\/\/digibyte.io\/en-us\/#downloads<\/a> . oh, by the way, the official DigiByte website is also available in Russian and many other languages: https:\/\/digibyte.io\/<\/a><\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> This is how community orientation looks:+1: good job! Also, i have one question) I know that you haven’t been listed on Binance for a long time, despite all the requests of the community, what had changed in June 2020? Did you make CZ offer, that he couldn’t refuse? \ud83d\ude09 <\/p>\n\n\n\n Rudy Bouwman:<\/strong> We always have been speaking with the Binance team, in all these years, despite the personal issue between our founder Jared Tate and CZ. Especially since we have the DigiByte Foundation and it has been recognized as representative of the community, the communication improved a lot.<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Congratulations with this listing<\/p>\n\n\n\n Rudy Bouwman: <\/strong>Also the fact that Coinbase is reviewing DigiByte is a milestone.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Wow, haven’t heard about this:wink: That would be great <\/p>\n\n\n\n Rudy Bouwman: <\/strong>Coinbase tweeted about that about a month ago. There are several projects on their radar and we are one of them.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>I missed this tweet i think, but it’s great, now all our members who also miss it will be informed 😀<\/p>\n\n\n\n Rudy Bouwman: <\/strong>Review doesn’t mean listing, but I think we tick all their boxes. Mary | Satoshi Club: <\/strong>I wish you success in this:+1: hope they will choose your project!<\/p>\n\n\n\n Ok, guys, thank you\nfor great introduction :grinning: Are you ready for questions from\npart 1?<\/p>\n\n\n\n Hans Koning: <\/strong>Yes, lets go for it!<\/p>\n\n\n\n Q1 from Telegram user @iulya_i<\/em><\/p>\n\n\n\n Please present to us the features of the Digibyte blockchain. The number of tokens, transactions, algorithms and so on<\/strong><\/p>\n\n\n\n Rutger Krijnen: <\/strong>This is a very good question, but also it needs multiple answers! First: DigiByte is\nthe ultimate merchant coin: you can actually use it at the point of\nsale, because its so fast and cheap to use. 1 second wallet2wallet\ntransactions and 15 second Block times! While still maintaining the\nutmost security possible. Next to that, the global DigiByte community\nis growing fast, creating adoption for DigiByte. We also work\ntogether with parties that do great for global crypto adoption and\nparties to create further adoption!<\/p>\n\n\n\n Second:\nAuthentication: Digi-ID is a very secure method of Authentication. It\nuses the same cryptographic signing methods as used for securing the\nDigiByte transactions. The beauty of it is that you dont need any\nusernames and passwords. So they are also not stored on any server.\nSo they cannot be exposed when a third party is hacked as we have\nseen so often, leaving all usernames and passwords exposed! See:\nhttps:\/\/www.digi-id.io\/<\/a><\/p>\n\n\n\n Third: Proof of\nAuthenticity: proof of authenticity of electronic content. You can\nuse the DigiByte blockchain to put a checksum of any electronic\ncontent on it to proof that is is the original. The DigiByte\nblockchain is used for this on a daily basis, check out V-ID as our\npartner that have worked out this use-case very good!\\<\/p>\n\n\n\n Fourth: DigiAssets.\nThe DigiAssets innovation has just left the station and we can expect\ngreat things of that. DigiByte has recently developed and released\nDigiAssets! https:\/\/www.dgbwiki.com\/index.php?title=DigiAssets<\/a>\n. It is a more simple form of a smart contract, yes, its limited, but\nit is highly secure and fast. The use cases for DigiAssets are just\nstarting to show and will amaze us in the future. Also we are looking\ninto quantum computer resistant algos to be ready for the future.<\/p>\n\n\n\n Rudy Bouwman: <\/strong>DigiByte is no ICO and no company behind. It’s a grassroots community movement. We’re all unpaid volunteers. The coin is mined over time. There was just a 0,5% premine that was spend on developement in the first year<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Do you have an exact number? In which part of the world or country do you have the most nodes?<\/p>\n\n\n\n Rutger Krijnen: <\/strong>The number of downloads of the DigiByte full node are very impressive:<\/p>\n\n\n\n But the total number of active nodes is smaller ofcourse, its running in the thousands if you do a node crawler at this moment.<\/p>\n\n\n\n GoldRocket27: <\/strong>Wow! This is incredible! As volunteers, people in love with their work achieve such success.<\/p>\n\n\n\n Rudy Bouwman: <\/strong>There is another pillar in the make: DeFi. We are working with Ren to create renDGB token, to make DigiByte interoperable for i.e. DeFi products.<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Oh, you go ahead of my question:joy: it’s so hot topic now:grinning:<\/p>\n\n\n\n GoldRocket27: <\/strong>DeFi is hot topic:wink:<\/p>\n\n\n\n Hans Koning:<\/strong> Sushi anyone?<\/p>\n\n\n\n \nMary\n| Satoshi Club: <\/strong>wait, i need\nto stop laughing<\/p>\n\n\n\n Rutger Krijnen:<\/strong> Also: remember that next to being a real global distributed blockchain and coin, Digibyte has no large pre-mine and also a fixed amount! this makes DigiByte in the long run a very value project, like an improved version of Bitcoin.<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>I like your use cases and impressed by them and see, that you are not going to stop in development 😀<\/p>\n\n\n\n Rudy Bouwman:<\/strong> True, we are so much more than just a cryptocurrency!<\/p>\n\n\n\n Hans Koning: <\/strong>That is indeed very true. GoldRocket27: <\/strong>Nice plan \ud83d\ude09<\/p>\n\n\n\n Q2 from bitcointalk user let098765<\/em><\/p>\n\n\n\n According to your website,everyone that is working on the DigiByte blockchain is an unpaid volunteer who devoted their time and skills to a project they believe in. How intriguing is it, and how possible is it as we knew that being a developer is a tough job? Do you have any deal with the them while working with Digibyte? Is this still ongoing until now?<\/strong><\/p>\n\n\n\n Rudy Bouwman: <\/strong>When looking back since its creation 7 years ago we have seen an ongoing developement. DigiByte is forward thinking and have pioneered in several tech developments like DigiShield, now applied in many other blockchains. Rutger Krijnen: <\/strong>Very good question! This is one of the true unique characteristics of DigiByte! Many projects out there rely on ICO money getting in, or they continue to sell tokens from their premine chests. The dangers of these projects is that one day, the money is gone and if they dont have a product that actually makes profit, they are bankrupt. This is happening a lot and we will see more and more projects disappear in the near future. DigiByte can never go bankrupt ever! As its purely community driven. Yes, we also have a bounty system in place. Where developers can get Digibyte that is donated by the community to build the next project. This model has been proven for 7 years now and counting. you can see that we had 7 major DigiByte generations and we are working on the 8th. We can never plan an exact date for release, but eh, that happens a lot, also in paid projects 😉<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>So, you have community fund? Can you disclose how big it is?) Who controls it?<\/p>\n\n\n\n Rudy Bouwman: <\/strong>It’s transparent on our website. We’re still very young, and not well funded, but it needs time. GoldRocket27: <\/strong>yes indeed, we can see that it works. 7 years of your progress and popularity tell us about it<\/p>\n\n\n\n Mary | Satoshi Club:<\/strong> Does your Foundation have partners?<\/p>\n\n\n\n Rutger Krijnen: <\/strong>Next to that, also other independent community funds have been setup and executed in the past. The last one was for the development of ProgPow algorithm, that was succesfully funded by the community and now in execution.<\/p>\n\n\n\n Rudy Bouwman:<\/strong> Yes, if you look at our homepage and sroll down you can see our sponsors\/partners, like Threefold, ChangeAngel, Safe Haven, etc www.digibytefoundation.io<\/a><\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Yes, we had Safe Haven in our group some days ago:grinning: But i thougt it was partnership with DigiByte, not Foundation)<\/p>\n\n\n\n Hans Koning: <\/strong>\u201cWho controls community fund?\u201d – There are 2 answers to that. Rudy Bouwman: <\/strong>DigiByte is a decentralized neutral project. Partnerships with mutual agreement should be with the DigiByte Foundation.<\/p>\n\n\n\n Q3 from Telegram Username @Aleurich<\/em><\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>It’s a bit covered:grinning: we already saw advantages, but may be you can add something)<\/p>\n\n\n\n Rudy Bouwman: <\/strong>It didn’t affect the technical development, as history has proven. As mentioned, DigiByte developers are forward thinking and have pioneered in different technologies. Mary | Satoshi Club: <\/strong>I haven’t seen problems in your marketing:joy:it’s a skill, because if there were problems we didn’t notice them)<\/p>\n\n\n\n Hans Koning: <\/strong>What are the advantages of being a project that has grown completely thanks to the community? Rutger Krijnen: <\/strong>The main advantage of not having an ICO is that you actually CAN be community driven decentralized crypto currency and blockchain! A lot of other projects have centralized funds in the hands of a few holders. They can exit the project, dumping their holdings, make centralized decisions. Decentralization is a concept that is talked about a lot, but rarely fully understood. As it is a multi layered concept that needs to be looked on from different aspects like: Blockchain nodes, Tokenomics, Mining, Holders and coin distribution. DigiByte ticks all the boxes, just like bitcoin. And on topics like mining some even more so!<\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>That’s true and a lot of users are really affected by dishonest projects.<\/p>\n\n\n\n Rutger Krijnen: <\/strong>That is why DigiByte is here for the long run, building a value proposition for many years to come!<\/p>\n\n\n\n Q4 from Telegram Username @eraybukucu<\/em><\/p>\n\n\n\n DigiByte has up to 5 types of mining algorithms: SHA256, Scrypt, Myr-Groestl, Skein & Qubit, what is the difference between 5 types mining?<\/strong><\/p>\n\n\n\n Rutger Krijnen: <\/strong>The correct mining algos for DigiByte are now: Five individual SHA256 , Scrypt , Odocrypt , Skein & Qubit.The main differences are that you need different hardware to run the algos. This leads to further mining decentralization. Also very important: Having 5 mining algos together with Mulitshield, protects DigiByte against 51% attacks!<\/p>\n\n\n\n Rudy Bouwman: <\/strong>Odocrypt is ASIC resistant, it recreates itself every 10 days<\/p>\n\n\n\n GoldRocket27: <\/strong>tell us more about this. how exactly does it work<\/p>\n\n\n\n Rudy Bouwman:<\/strong> https:\/\/www.dgbwiki.com\/index.php?title=DigiByte#DigiByte_Mining<\/a><\/p>\n\n\n\n Mary | Satoshi Club: <\/strong>Is 51% attack possible? Did you have any attempts?<\/p>\n\n\n\n Rutger Krijnen: <\/strong>We have had many attempts, never successful! As you need the absoluut majority on 3 out of 5 algos and over 80% on a fourth. And as we have a majority of hashrate on 3 algos, you also cannot rent the hardware to try!<\/p>\n\n\n\n Q5 from bitcointalk user bitmartbounty <\/em> <\/p>\n\n\n\n Digibyte is unspent transaction output (UTXO) BLOCKCHAIN, kindly explain the major difference and similarities BETWEEN a UTXO blockchain and a conventional Blockchains<\/strong><\/p>\n\n\n\n Rutger Krijnen: <\/strong>The UTXO Proof of Work blockchain is the original form of blockchain. Its proven battle hardend and can run 100% decentralized. DigiByte also has this vision and uses this proven technology. There are many other types now invented, like Proof of Stake, so you could see them as unconventional.<\/p>\n\n\n\n Rudy Bouwman: <\/strong>UTXO transactions sound complicated, but they really are fairly simple. UTXO or unspent transaction outputs are used in cryptocurrency transactions. These are the transactions that are left unspent after someone completes a transaction, similar to the change someone receives after conducting a cash transaction at the store. Mary | Satoshi Club: <\/strong>Thanks for the answers, as i know you hurry guys, so we will speed up and now you will have 6th question:grinning:<\/p>\n\n\n\n Rudy Bouwman:<\/strong> Thank you. Normally AMA is an hour, so we are working overtime now \ud83d\ude42<\/p>\n\n\n\n Q6 from Telegram user @alex_satang<\/em><\/p>\n\n\n\n The blockchain space is very competitive. What are your plans to remain in the top and innovate the space? To remain a top project, you need to always innovate, except Bitcoin of course 😁<\/strong><\/p>\n\n\n\n Rudy Bouwman: <\/strong>We have the best technology, but that doesn’t sell itself. We are aware of that. Hans Koning:<\/strong> It is also important to know that we as DigiByte do not see ourselves on an island, but reach out to other projects, and if possible work together towards for instance adoptation. There is room for plenty of us, so united we stand, divided we fall (and fail).\u2026<\/p>\n\n\n\n Rutger Krijnen: <\/strong>First of all, DigiByte doesn’t see other projects as competition. We are putting our energy fully on making DigiByte an even greater succes! We believe that there will be multiple projects that will have multiple solutions in the future. And DigiByte will be one of the important ones.<\/p>\n\n\n\n Q1 from Telegram user @Nickkiii<\/em><\/p>\n\n\n\n How\ndo I become a part of the Digibyte movement, is Digibyte open to\neveryone or do we need an application?<\/strong><\/p>\n\n\n\n Rudy Bouwman: <\/strong>DigiByte is permissionless, and anyone can join! No application is required. If you have skills like marketing or developer skills, you are happy to join one of our official channels and start working on stuff. Q2 from Telegram user @yzmoney<\/em><\/p>\n\n\n\n are\nthe board members for the digibyte foundation chosen? Do you think\nDGB may migrate to PoS as PoW coins are wasting too much energy\ncompared to current PoS coins ? Thank you<\/strong><\/p>\n\n\n\n Hans Koning: <\/strong>As you know we are all volunteers, the Board members included. We initially “volunteered” to set up the Foundation, and decided to become Board members. Ultimately the community can elect us, or decided to impeach us. As a decentralized foundation, we are merely the voice of the community, and like our technology, we do not want to be a single point of failure in persons too.<\/p>\n\n\n\n Q3 from Telegram user @Brucedt<\/em><\/p>\n\n\n\n #DigiByte<\/a>\nis currently going well and is receiving positive attention. What\nwill you do to get more exposure and adoption? What is the #DigiByte<\/a>\nmessage for the Community today?<\/strong><\/p>\n\n\n\n Hans Koning: <\/strong>In a way a very simple one: join us! Q4 from Telegram user @Gutike95<\/em><\/p>\n\n\n\n What\nreally is the mission and vision of this DigiByte project? just\ndevelop a platform that generates rewards to its users through dApps\nwith the security of smart contract?<\/strong><\/p>\n\n\n\n Rudy Bouwman:<\/strong> We are like LEGO: We offer the playground and the LEGO blocks for others to build. Q5 from Telegram user @KeymerS<\/em><\/p>\n\n\n\n I\nunderstand that DigiByte has one of the fastest chain link speeds of\nall, but why not improve it even more like Harmony’s 5 sec? is it\npossible to do it in DigiByte?<\/strong><\/p>\n\n\n\n Rutger Krijnen: <\/strong>That is a very good question! Remember that DigiByte is hard money: fixed supply, no counterfeit possible, ultra secure with Proof of Work UTXO blockchain, 5 mining algos and MultiShield against 51% attacks. DigiByte also is actually usable at the point of sale. Both online and in the brick and mortar stores. Because the transactions are within 1 second visible in your wallet and within 15 seconds confirmed in the blockchain. This is the fastest possible! DigiByte used fundamental Microsoft research on the fastest blocktimes possible in a true decentralized global UTXO POW blockchain. and as we use 5 parallel mining algos, we are 5 times faster than that. So fasters times are not possible, unless you leave the true proven security of POW UTXO. And we do not want that. We need to stay secure!<\/p>\n\n\n\n Q6 from Telegram user @tungvodoi206<\/em><\/p>\n\n\n\n How\nhas Covid-19 affected the fulfillment of your goal? What goals are\nyou focusing on at the moment?<\/strong><\/p>\n\n\n\n Hans Koning:<\/strong> 1. liquidity; exchanges and point of sale Q7 from Telegram user @erven12<\/em><\/p>\n\n\n\n Since\nDIGIBYTE is GLOBALLY DECENTRALIZED Hans Koning: <\/strong>No.
I have been active in the DigiByte community from 2016 onwards. I like to connect people and companies in the blockchain space
to create awareness, integration and adoption of the DigiByte blockchain and coin! I am looking forward to this AMA!\\<\/p>\n\n\n\n
I have been in the forefront of nascent technologies for more than 25 years, and lives by the motto \u201cEven if you fall on your face, you are still moving forward\u201d. Either as advisor, investor, or as an observer, ever since the birth of the internet I am committed to learn and guide new technologies in finding its way into society and businesses from a non-technical perspective.
I find it important what technology can do socially, economically and as a tool for empowerment, rather than how it works. This resulted in a long track record of helping companies grow and succeed sustainably in all corners of the world. I pride myself in having achieved a unique combination of hands-on experience from being involved in the blockchain world and crypto community for 5 years, and on the other hand academic research and insights from my research PhD (public blockchain governance). I am Co-Founder and Chairman of the DigiByte Foundation.<\/p>\n\n\n\n
The Foundation focuses on a few topics:
– creating awareness
– promote adoption
– outreach
– development
– advocacy
But more importantly we are a foundation that is driven by the community. Everyone in our community can and should get involved, and help decide what focus and projects we should support.<\/p>\n\n\n\n
I really appreciate you pointing this out. We do think DigiByte is one of those projects everyone likes and no one hates.
The reason for that are various. But indeed community is a keep component of that. The DigiByte community is compared to none; vocal, omnipresent, supportive, warm, critical, and always looking out for each other.
We would love it if you all could be part of our community too.
www.digibytefoundation.io<\/a> is a good place to start.
:blush:<\/p>\n\n\n\n
So let’s see \ud83d\ude42<\/p>\n\n\n\n
First: DigiByte is an independent blockchain. Unlike many other “tokens” that do not have a blockchain, DigiByte is a globally decentralized true Proof of Work UTXO blockchain. DigiByte was started almost 7 years ago and now has thousands of nodes spread all over the world. Also, the mining of DigiByte, done on 5 mining algos, is truly decentralized, much more compared to Bitcoin. Check out our official DigiByte Wiki for all the detail information: https:\/\/www.dgbwiki.com\/index.php?title=Di<\/a> . DigiByte has 4 major pillars of use-cases:<\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/P1-7.jpeg\")
<\/figure>\n\n\n\n
DigiByte is always forward thinking; keeping an eye on the future and developments.
We all need to be aware of the fact that blockchain and crypto is still a very new and not mass adopted phenomenon. We might be active in this space for a while allready, but the big developments are still to come.
We want to be at the center of that, and leading that development.<\/p>\n\n\n\n
The community has seen an incredible growth over all these years, so more and more people are joining the teams for marketing and development. Being volunteers means also that we can’t go bankrupt and nobody can take DGB down. One of the responsibilities of the foundation is to make sure the project doesn’t stall. So we are monitoring suggested developments, provide bounties, etc. Also we are taking away any single point of failures (if any).<\/p>\n\n\n\n
We’re relying on sponsors and donors.
https:\/\/digibytefoundation.io\/financial-statement\/<\/a><\/p>\n\n\n\n
From a technical and legal point of view, the Board of the Foundation controls the funds, and is in charge of dispersing the funds.
However, we have added an additional governance layer to that, so that we as the Board make suggestions as to which projects to support. We then make a recommendation to our community, to which our community can vote yes or no. When the vote is passed, the foundation disperses the funds. We call this “request for opinion”.
So far we had 4 votes in the community:
https:\/\/digibytefoundation.io\/requests-for-opinion\/<\/a>
Additionally, when a donor registers at the DigiByte Foundation he\/she can select their donation is allocated to. In that way there are 2 ways forthe community to control where the funding goes.<\/p>\n\n\n\n
DigiByte did not conduct any ICO or similar fundraising in its early days. Do you think this has affected the development of this blockchain? What are the advantages of being a project that has grown completely thanks to the community?<\/strong><\/p>\n\n\n\n
In regards of marketing it was more difficult, but with the DigiByte Awareness team we have proven since 2018 that we were able to do many things without money. We’re listed on more than 100 exchanges including some of the top ones, without paying anything. The advantage of being a community:
https:\/\/medium.com\/datadriveninvestor\/digibyte-a-project-without-risks-f6ad9908a904<\/a><\/p>\n\n\n\n
The short answer is a sustainable blockchain. With that we mean that when a blockchain is developed ‘for the people by the people’ it automatically is adopted as a concept. DigiByte is not a blockchain that you need to adept to, but a blockchain made and designed with you in mind, and with you at the helm.
A lot of projects have a community purely focusing on price. Although there is nothing wrong with holding coins\/tokens to make money, there is – better said should – be more to a blockchain project than the value of the coin. The reason we have such a large supportive community is precisely for that reason: we are inclusive and decentralized.<\/p>\n\n\n\n
A UTXO is the amount of digital currency remaining after a cryptocurrency transaction is executed.
UTXOs are processed continuously and are responsible for beginning and ending each transaction.
When a transaction is completed, any unspent outputs are deposited back into a database as inputs which can be used at a later date for a new transaction.<\/p>\n\n\n\n
So we are working on building bridges to other projects, and to the commercial world.
We already are producing real world use cases, but we want to leverage that to a much higher level.
Ideas about that are currently being discussed in the team<\/p>\n\n\n\nPart\n2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n
The best way is to start here:
https:\/\/t.me\/DGBatAdvocates<\/a><\/p>\n\n\n\n
We want you to be part of the community, to further help, form and shape the future of blockchain.<\/p>\n\n\n\n
We have the best technology, there is no doubt.
Our mission is to bring this technology to 3rd parties that could commercialize it.
But we want and need o protect the decentralied nature, therefore we have the foundation.
Mission: Empower the community, decentralize the world.<\/p>\n\n\n\n
2. promote adoption
3. get more community involvement
4. advocacy
5. future developments, like DeFi for instance<\/p>\n\n\n\n
\nfrom the word DECENTRALIZED\ncome also the phrase “TOKEN BURN or COIN BURN” cause it\nwill not just control your circulating supply and give more\nincentives to investors
\nbut also TOKEN BURN can make a project\nfully DECENTRALIZED
\nso
\nIs DIGIBYTE have plan about token\nburn?<\/strong><\/p>\n\n\n\n
For the simple reason there was a minimum of pre-mining, and that was premined is being used for the development of the DigiByte blockchain.<\/p>\n\n\n\n