Description of DigiByte: Digibyte was developed by Jared Tate in 2013 as a Bitcoin fork and was launched in January 2014. Tate is now involved full-time in
the development of Digibyte and all the funding for the project comes from donations to the DigibyteShow more [+] foundation. Digibyte's largest user-base is found in the Netherlands.
While Digibyte shares a lot of functionality with Bitcoin, it has a few major differences. It has a very short blocktime of just 15 seconds (compared to Bitcoin's 10 minutes), thus allowing more transactions to go through the blockchain in any given timespan. Digibyte;s network doubles the number of transactions by halving the block time every 2 years. A unique feature of Digibyte is that Digibyte alternates between 5 different mining algorithms, namely (Scrypt, SHA256, Qubit, Skein or Groestl). Additionally Digibyte's supply limit is at 21 billion.