DigiByte is a UTXO blockchain founded by Jared Tate in 2013, making it one of the oldest altcoins. DigiByte kicked off in 2014 and did not have any token sale. DigiByte uses the Proof-of-Work consensus algorithm and new coins are issued through mining. The supply is limited and a total of 21 Billion DigiByte will be mined within 21 years since its launch, which is 2035.
DigiByte was built on three different layers. The top layer is meant for the smart contracts, Dapps and tokens. DigiByte ledger is placed in the middle layer and the third layer consists of the decentralized nodes. DigiByte already implemented the Segregated Witness to the chain for quicker transactions and it is estimated that DigiByte is 40 times faster than Bitcoin. In 2020, Digibyte Foundation, a non-profit organization was formed by the community members to promote the development and adoption of DigiByte.