DGB AMA Recap with CryptoProfitCoach(6th June, 2020)

🔷 DigiByte AMA Recap🔷

We organized AMA successfully with DigiByte Team on 6th of June, 2020 in our Telegram Group. The following Hon’ble team member were present:
Hans Koning — Chairman of the DigiByte Foundation
Rudy Bouwman — Secretary & Vice-Chairman of the DigiByte Foundation
Rutger Krijnen — Treasurer & Co-Founder DigiByte Foundation
Nigel Borreman — Core Member DigiByte.

CryptoProfitCoach with DigiByte Team

Crypto admin | @CryptoProfitCoach Never PM for Funds
Really excited for the AMA here with Hon’ble DigiByte Foundation Officers:Hans Koning, Rudy Bouwman & Rutger Krijnen, and Nigel Borreman, core member of DigiByte.
I Welcome them on behalf of community members to enlighten us regarding #DGB project.

Rutger Krijnenadmin
Hi All! nice to e-meet you all! My name is Rutger Krijnen and I am active in the DigiByte community from 2016. i have played many roles in DigByte, contributing on many levels. I am also a co-founder of the DigiByte Foundation. And am looking forward to this AMA in the Crypto Chant Box!

Rudy Bouwman
Hello, Nice to be here. Thanks for the AMA. We’re ready to answer as much as possible questions.

Nigel Borreman
If you have questions after the AMA you are free to join https://t.me/DigiByteCoin and fire your questions away!

Telegram
DigiByte Official Discussion :white_check_mark:
Donate — dgbwiki.com/index.php?title=Donate
News — @DGBalerts
Support — @DGBSupport
Rules — @digibyterules
Price — @dgbwaves…
Check out https://t.me/OfficialDigiByteGroups for all DigiByte groups!

Telegram
DigiByte Telegram Groups
All DigiByte groups that are currently available on Telegram by DigiByte members. If you would like us to update that list please contact @TheUnamatrix or @Sinone

Rudy Bouwman
I’m sorry but I will be only here for 30 minutes, but the other team members will continue :)

Crypto admin | @CryptoProfitCoach Never PM for Funds
As per usual, I’ll start things off with some introductory questions before then opening up to the community for Q&A. Top questions / participants will receive rewards = )
Starting out really basic, can you provide a high level description of #DGBcoin and as well as the utility of #DGB Wallet?
Hans Koning
Hello everyone.
My name is Hans Koning, and am part of the DigiByte Foundation. Been in crypto and blockchain for a few years, and believe it is much more than technology, but a social phenomenon.
Sure let’s first describe ourselves a little. The DigiByte project is already over 6 years old, but the Foundation is pretty young. It just started this year and it is rapidly developing. We are however DigiByte Community members for a long time, and all voluntary dedicated to the project. The Foundation is setup to empower the community, be the voice of the community. Moreover we are looking for ways to help the project with their development, marketing, awareness, and we are here to protect the principles of decentralization.
Now to your question…
DigiByte was founded in 2014 by Jared Tate. DigiByte is not an ICO, there is no company behind it, but it’s community driven without any authority. All volunteers. It’s the oldest and longest UTXO blockchain. Moreover it’s one of the fastest chains with fees that are close to zero. Security is being obtained by the use of 5 different mining algorithms and tens of thousands of active nodes. DGB coins are mined over time. The circulating supply is around 13B, max. supply is 21B in 2035. Currently we’re moving between #30 and #40 on CoinmarketCap.
DigiByte has its own mobile wallets on iOS and Android, in over 55 languages.

Crypto admin | @CryptoProfitCoach Never PM for Funds
Can you share some of the biggest “lessons learned” after navigating the crypto ecosystem for over years now? Alternatively, could be lessons learned from your professional experience — but looking to keep it specific to crypto = )

Rudy Bouwman
The biggest lesson I think is that people need to understand that you should never leave coins on an exchange. Not your keys, not your coins. I would advise to just use custodial exchanges for trading, but I would never leave my coins on there. For custody it’s better to use hardware wallets or wallets where you own your keys. I have seen too many times people losing their coins because they’re being hacked. It’s time that people should not use usernames and passwords anymore, but use blockchain technology like Digi_ID or AntumID for secure authentication.
There are still too many bad actors in this space, so regulations are very welcome. This space is still not mature enough.

Rutger Krijnenadmin
The DigiByte Wallets support storing, sending and receiving DigiByte at a very high speed. And the Mobile Wallets also support DigiAssets! DigiAssets is a secure, scalable secondary layer on top of the global DigiByte blockchain that allows for the decentralized issuance of assets, tokens, smart contracts, digital identity and much more. DigiAssets can be used to securely and cryptographically represent anything we find in the real world. From real-world assets such as real estate, airplanes, boats and cars to scarce digital pieces of art and music. Signed documents such as wills, deeds, and purchase orders to medical bills and advertisement data and info can be protected as DigiAssets. There are also a lot of third party wallets that support DigiByte: https://digibytewallets.com/
DigiByte Wallets | Send, Accept, Store DGB & DigiAssets
Compare and choose your DigiByte Wallet. Start transacting on the blockchain and accept DGB payments.
[Photo]

Crypto admin | @CryptoProfitCoach Never PM for Funds
thanks for enlighting us
How did the concept of DGB and DGBAT originate and what is possible with the DGB blockchain?

Nigel Borreman
In 2014 Jared Tate, the founder of DigiByte, discovered Bitcoin, and saw the flaws in speed and scalability. So he used the code to create a better blockchain, with his own genesis block. So in that time DigiByte was created.
DGBAT (DigiByte Awareness Team) is founded in May 2018 by the community to perform the marketing for DigiByte, by outreach, awareness and education. They want to encourage the adoption by making the DGB coin available on many exchanges and payment processors.
There is a lot possible with the DigiByte blockchain, because it’s very secure and the transactions are fast. Moreover it’s open-source, and permissionless. Anyone can use it and start developing on it. There are already a lot of use cases, which we will elaborate further in the AMA.

Crypto admin | @CryptoProfitCoach Never PM for Funds
sounds great
Can you share some of the biggest “lessons learned” after navigating the crypto ecosystem for over years now? Alternatively, could be lessons learned from your professional experience — but looking to keep it specific to crypto = )

Rudy Bouwman
The biggest lesson I think is that people need to understand that you should never leave coins on an exchange. Not your keys, not your coins. I would advise to just use custodial exchanges for trading, but I would never leave my coins on there. For custody it’s better to use hardware wallets or wallets where you own your keys. I have seen too many times people losing their coins because they’re being hacked. It’s time that people should not use usernames and passwords anymore, but use blockchain technology like Digi_ID or AntumID for secure authentication. There are still too many bad actors in this space, so regulations are very welcome. This space is still not mature enough.

Speaking from my personal experience, crypto has impacted me in many ways. I think what first blew me away was speed, (self)control, and a global community. Being able to make transactions with anyone in the world, all hours of the days, without a third party made me feel proud, happy and in control. That never changed!

Crypto admin | @CryptoProfitCoach Never PM for Funds
thanks for sharing your valuable experience with us Sire :blush:
What are the topmost utilities of DGB token in DigiByte ecosystem?
Which types of more utilities you’ve planned to add? What is Digi-ID? How will our data be secure in it?

Rudy Bouwman
The DGB Blockchain has many use cases: 1st: the ultimate merchant coin, because of the instant transaction speed, fees close to zero and mobile wallets, 2nd: the blockchain can be used to validate and verify digital content for proof of authenticity, 3rd: the wallet technology can be used for secure authentication on online platforms, but also for i.e. access to buildings, and 4th: You can create DigiAssets on the DigiByte Blockchain, a digital representation of anything you can think of. You can issue, store, send and receive and burn assets.

Crypto admin | @CryptoProfitCoach Never PM for Funds
very promising :+1:

Crypto admin | @CryptoProfitCoach Never PM for Funds
thanks for sharing your valuable experience with us Sire :blush:
Hans Koning

My pleasure. Am sure my experience are not that much different from other crypto enthusiast I would imagine. Once you experience the real “crypto feel” it is hard to see the value added of third parties and intermediates.

Crypto admin | @CryptoProfitCoach Never PM for Funds
Which types of more utilities you’ve planned to add? What is Digi-ID? How will our data be secure in it?
Rudy Bouwman

Digi-ID is a very secure method of Authentication. It uses the same cryptographic signing methods as used for securing the DigiByte transactions. The beauty of it is that you dont need any usernames and passwords. So they are also not stored on any server. So they cannot be exposed when a third party is hacked as we have seen so often, leaving all usernames and passwords exposed! See: https://www.digi-id.io/

Digi-ID Website
Digi-ID — Blockchain Open Auth
The blockchain-based cryptographic solution to handling user authentication. Powered by DigiByte blockchain.

Crypto admin | @CryptoProfitCoach Never PM for Funds
What’s the key contribution of DigiByte to the mainstream adoption of digital payments? Are there any current initiatives in regards to possible partnerships/ applications being placed on the DigiByte Blockchain?

Rutger Krijnen

Digital payments with cryptocurrencies are growing but there is still a long way to go. But DigiByte is one of the best in class: You can actually use DigiByte at the Point of Sale in a brick and mortar store and Online. Because it’s so fast and cheap to use, and very safe of course, thanks to the high security of the DigiByte blockchain. Within 1 second the transaction is visible in your wallet and within 15 seconds is confirmed on the Blockchain. Many payment processors and plugins have integrated DigiByte as one of cryptocurrencies you can pay with. A growing number of companies now accept cryptocurrency as a payment option, like Shopify and Microsoft. Moreover, DGB has mobile wallets in over 50 languages, that makes global adoption of DGB for digital payment a lot easier. There are many initiatives in regards to partnerships & applications. The latest partnership is with Threefold. They are building a decentralized internet. We’re currently exploring mutual application of both technologies

Crypto admin | @CryptoProfitCoach Never PM for Funds
thanks for sharing your experience and technoligcal detalis about DigiByte
What is the uniqueness of DIGIBYTE project that cannot be found in other project that´s been released so far ? What influence do we have in the crypto industry?

Nigel Borreman

Unique is definitely the active DigiByte community. DigiByte is a grassroots movement and we even see after 6 years, our community is still growing day by day. DigiByte has the most active community on social media. Also, after more than 6 years the development is ongoing to make the chain even more secure, and we have real world use-cases being developed. If you just look at the top 10 coins, the majority has no business case. The influence of DigiByte is very big, and that brings fear to some of the established projects and powers. That’s a reason why some still ignore us, at least for now. No one and nothing can dodge the DigiByte movement.

Crypto admin | @CryptoProfitCoach Never PM for Funds
yeah sure :+1:
Now focusing on the team a little bit — what are some key differentiators the #DGBcoin team has that make it particularly well-equipped to accomplish your goals ?
Hans Koning
We’re all volunteers. No salaries are being paid. This means that all team members are involved because of their passion in the first place. This is a very important factor for success. We have team members from all over the world, all with different skills. We have people that a great in coding, we have UI/UX developers, outreach officers, advocates, business developers, etc. All professionals with day-time jobs, deploying their experiences and skills in their free time to contribute to the DigiByte project.

That is also the key asset of DigiByte; the community. The community is the most important part of DigiByte. DigiByte is opensource and with only volunteers. No company with paid employees, so no risks as well.

We invite everyone to join this ever growing community, be it as an investor, a tech/developer, an enthusiast or in any other role you see fit.

Crypto admin | @CryptoProfitCoach Never PM for Fundsadmin
Glad to know about your passion for blockchain and DGB project…very inspiring..:blush:
Switching gears to the competitive landscape — what sort of projects do you identify as #DGBcoin’s biggest competitors?
Alternatively, if you don’t think there are direct competitors, what sort of trends or obstacles do you think need to be overcome in order for #DGBcoin to capture more market share?

Rudy Bouwman
We don’t see any other project as a competitor. Every project is different with their own unique features and unique selling points. There are lots of areas where we could even help each other and work together. All we have to do to overcome the obstacles and get a bigger market share is to continue what we’re doing now: keep building and developing, create awareness, educate people, protect the project and its features, and looking for global opportunities for collaboration. The recently founded DigiByte Foundation will be an important vehicle to make sure that continuity is guaranteed and even can be accelerated thanks to funding by donors and sponsors.

Crypto admin | @CryptoProfitCoach Never PM for Funds
Sure we wish good for DGB :+1:
Could you please enlighten us regarding DGBAT? Please enlighten us in this regard also.

Rutger Krijnen
As mentioned before DGBAT is founded in May 2018 by the community to perform the marketing for DigiByte, by outreach, awareness and education. It’s a mixed team of dedicated community members that want to help the DigiByte project. They can be considered as part of the core team. They are active on marketing on may areas, like working with exchanges, payment processors, creating materials for social media, creating videos, interacting with the global DigiByte community, sharing messages, organizing meet-ups and joining events, and many more. They are always encouraging active community members to join and help, and more important, they are building bridges to other communities and projects.

Crypto admin | @CryptoProfitCoach Never PM for Funds
very inspiring for us:+1::blush:
What are some of the major achievements that the DGB project has achieved and what milestones are planned in the upcoming months/years?

Nigel Borreman
There are too many major achievements to be mentioned, but if we focus on development, we can say that DigiByte is always forward thinking. We became the world’s first blockchain to install SegWit (Segregated Witness). DigiByte is the inventor of MultiShield. MultiShield is the advanced version of the original DigiShield (because of its multi algo mining). It creates an asymmetric realtime difficulty adjustment, and this technology is now even widely implemented in many other blockchains, like Ethereum, Zcash, Bitcoin Cash, Dogecoin and over 25 others.
There is a complete list of milestones on our DGBWiki: https://www.dgbwiki.com/index.php?title=Roadmap_and_Milestones
Because we’re all volunteers, there are no defined projects and ETA’s for the future, but we are working on another mining algo, we are looking at quantum computing resistance, we are looking for real world use-cases and we are looking for more partnerships. But as always, we underpromise and overdeliver.

Rudy Bouwman
Sorry I have to leave now :(
It was a great pleasure being here, and we’re looking forward to the future of crypto together!
The rest of the DigiByte team will continue answering question.

Crypto admin | @CryptoProfitCoach Never PM for Funds
Thanks for being with us Sire:+1:

Rutger Krijnen
Thank you Rudy for joining the DigiByte AMA!

Crypto admin | @CryptoProfitCoach Never PM for Funds
moving ahead….
How DGB empower investors, companies, developers, and its users to deliver impactful solutions and bring value to global people?
Hans Koning

As soon as there are people interested we are getting the right people involved to see how we can support and what needs to be done. Also, if we see opportunities ourselves, or have ideas, we are trying to connect with the right people to explore the concept and see what needs to be done to make it viable.

We already have done great things together with Antum, like the authenticator and password manager, and with companies like V-ID, that use the DGB blockchain to validate certificates.

We were also involved in the development of a tracing app for Covid-19, that has been presented to several governments. And currently we are working on more projects where our secure technology and DigiAssets will be hopefully groundbreaking.

In short we are not only open for ideas, we are actively pursuing all possible ways to boost adoption of the DigiByte blockchain and coin.

Crypto admin | @CryptoProfitCoach Never PM for Funds
very inspiring and promising :+1:
Alright last question before I open things up for Community members — what are some exciting milestones #DGBcoin has in the coming months? Any big news/announcement ?

Rutger Krijnen
We never do announcements of announcements. We publish things when they are confirmed and ready. As mentioned we under promise and over deliver. So we can tell that we recently released the Testflight version of the new DigiByte Mobile wallet for IOS with DigiAsset support. We are very proud of that release! We will ask the global DigiByte community soon to translate the new functionality in all the major languages of the world. All I can further say is that there are a lot of exciting things in the pipeline and they will be announced when they are ready!

Crypto admin | @CryptoProfitCoach Never PM for Funds
Always exciting for #DGB coin holders = )
I think we can open things up to community Q&AQuiz. Reminder that top participants will receive a reward! Community members are allowed to post their questions for next 10 minutes. 10 Best Question will be picked up by Mr. DGB Officer to answer. completely on his discretion. Question picked up by Mr. DGB Officer to answer will make Question raiser eligible to receive rewards from Mr. DGB Officer.
You can drop your questions/queries here Mr. DGB Officer will answer to enlighten.

Sen
The Digi ID looks awesome, but is possible use It in more that 1 device at the same time? Digi ID can support It?

How Digibyte solve the UTXO model weaknesses of the storage of inneficent data?
Nigel
No only 1 unique ID per Digi-ID (your crypto seed) We use SegWit and other scaling solutions for that.
Rutger
MultiAlgo and MultiShield are of paramount importance for the security, speed and decentralization of DigiByte. These are one of the big differentiators compared to Bitcoin. MuliAlgo was activated in September 2014, this hard fork allowed for multi-algorithm mining. Its purpose was to create a number of different proof of work (PoW) mining methods to accommodate the different types of mining capabilities that exist, such as dedicated ASIC mining, GPU and CPU mining. This allows for a larger number of people to access DigiByte mining and therefore it creates a more decentralized blockchain with the coins reaching groups who were unable to mine the coin on its original single-algorithm (Scrypt)fork.
Nigel
DeFi and DApps are the two hotcakes now in the blockchain world. How will DigiByte tap into these potential markets and make the best out of them?
Jejelane
Hans
Great question. The strength of DigiByte is that we are a pure blockchain, meaning truly decentralized, same as Bitcoin. No one owns DigiByte, we are not a company, we have no employees. That is something we have over other projects.
Ultimately the market — you the crypto users — will recognize that, and only want to do transactions via true DeFi.

We beleive in DeFi, and feel we are well catered and suited to be a significant player.

Mít Tơ Trader
We all talk about Positive points/Pros/Good Points & Features of any Project, no one Project tell about there Cons. So can you tell us Honestly the Cons & Lacks of DGB ?
Nigel
The cons are that we are not an ico, because we don’t have a lot of funds to spend on marketing and have to rely on donations, but that is a blessing in disguise since: There is no CEO or a company controlling the DigiByte blockchain. The founder, developers and the community are unpaid volunteers that eliminate the bankrupt risk.
Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)
Abimbola
Currently what is the most useful utility that digibyte has? (i.e. online shopping, value reservation)

What is your opinion about masternodes in blockchain, and if you think it is a possibility for your network?
Nigel Borreman
Payments, DigiAssets, Digi-ID and Cyber Security

Marcel
What are the advantages of Digibyte Project & what is the real life utility and role of DGB token in Digibyte Project?
Is Digibye is good project for Long term investment?

Hans Koning
One word: community. The community is the most important part of DigiByte. Even we, the active core members, are part pf the community. DigiByte is o…
Nigel
Its Easy to use, Much faster, Always secure and more Manageable than Bitcoin. For speculation head over to https://t.me/DGBwaves

Telegram
DigiByte Price & Speculations :thought_balloon::crystal_ball::chart_with_upwards_trend::chart_with_downwards_trend:
Donate — dgbwiki.com/index.php?title=Donate
News — @DGBalerts
Support — @DGBSupport
Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)
What is Digi-ID? What are its functions and benefits to users?
Jejelane
https://www.youtube.com/embed/pLrQycud5GI?autoplay=1&loop=1&modestbranding=1&iv_load_policy=3&rel=0&showinfo=0
YouTube
What is Digi-ID
Digi-ID is a fast and secure way to log in to website, applications, or even building security powered by the DigiByte Blockchain Find out more at www.digi-i...

Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)
First, i want to thanks to the team and congrat all for the project and the efforts made until here on this project. I believe a lot in this project.
For me, the best project on the space.
I had my own research about blockchain projects and i found DGB this year (i’m new on the space, about 10 months). After doing my research i have no doubt that DGB its one of the best, if not the best project i had found in the space. So, i’m very glad to join this AMA.

My question is:
Which specific about technology and strategy of DGB that make you believe it will be successful and what does DGB plan do to attract more users in the upcoming time?

Thanks
Harsha
Hans
One word: community. The community is the most important part of DigiByte. Even we, the active core members, are part pf the community. DigiByte is opensource and with only volunteers. No company with paid employees, so no risks as well.
The community is everything. All can contribute and be part of the community, and add value, and help improve the DigiByte blockchain.

If you think your skills are useful for DigiByte, you can become an active community member on social media and even join the DigiByte Advocates or DigiByte Awareness team.

AngeI
Where will you look at your project in the next 5 years? Will there be enough funds to run the project in the next 5 years?
a user
I see a broader adoption of DigiByte technology and awareness. Big usecases and secure many things in life. Yes we are still here since 6 years and The founder, developers and the community are unpaid volunteers that eliminate the bankrupt risk.
Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)

Lanre
As per website, you mentioned we can Mine DGB with 5 algorithms which are Sha256, Scrypt, Skein, Qubit and Odocrypt ….

So, Why Digibyte choose 5 Different algorithms rather than any single Algorithms>?
Hans
It increases the speed and security.

Sumit
How does the DigiByte platform guarantee that none of the items uploaded in its format can be hacked, considering the incidents that have left many systems vulnerable? what makes it different?

While transactions are faster that means there will be a highest commission page compared to bitcoin?
a user
We have implemented DigiShield for that, check out https://www.dgbwiki.com/index.php?title=DigiShield
Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)

Rutger
Great question! The true power of DigiByte is its grassroot growth. the Global DigiByte Community has grown 100% organically over the last 6 years, without any help of any company. The power of this is that DigiByte can grow this way, because its one of the most easy and fast to use crypto currencies in the world, only real users and real people. Now we have come on a crossroad, staring to create partnerships with companies like: V-ID, Antum-ID, Threefold that are using DigiByte technology in the real world. This will be our jumping board to the next phase of awareness and adoption.But we will always stay true to our core: the Global DigiByte Community! That is what made DigiByte big and will continue to propel us in the future!
Marcel
Digibyte is obviously very beneficial to we crypto users. However, how do you plan for Digibyte to be useful and beneficial TO the majority non-crypto people?
a user
We want to make DigiByte accesible for everyone. Like we translated the DigiByte Mobile app in 55 languages and our DigiByte.io in 35 languages in only 3 weeks all unpaid volunteer work. And many other things like send and receive DigiAssets from your mobile phone or directly burn them there too.
Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)

Dr Monica
Where are your coins used? What are the main applications products and services Digibyte provide for users?
a user
Check out https://www.dgbwiki.com/index.php?title=DigiByte#DigiByte_Ecosystem
Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)

Jonathan tross
Is Digibyte platform fully Decentralized?

Many users like the Centralized Platform, How can You combine the Benefits of Centralized As well as Decentralized Platform?
a user
Yes, check out https://www.dgbwiki.com/index.php?title=Decentralisation
Nigel Borreman (:bangbang:NO PM READ BIO:bangbang:)

Lee
What has been DGB contributions to the recent COVID-19 so far, in DGB, in research and other relevant ways?
Hans
Yes, in the Netherlands the DigiByte team was part of a coalition to build an app to combat the spread of COVID-19. That is a government project, so that always take some time unfortunately. The team of which DigiByte was part, performed well, and was able to address all concerns as privacy, open source, immutability etc.

Crypto admin | @CryptoProfitCoach Never PM for Funds admin
Thanks DigiByte for sharing such valuable experience/information with us

DigiByte:
Thank you for hosting good sir.

Feedback and comments are always welcome 😊

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