Quote from: Jumbley on May 14, 2018, 12:27:15 AM

Quote from: MiCoSa on May 13, 2018, 11:42:10 PM

Quote from: bitChipper on May 13, 2018, 10:48:15 PM

Ok I don't think bitcoin transactions are that slow anymore....also someone explain to me why lightning is so bad for crypto?

Also I would like someone to explain to me how Digibyte is so much faster other than that it has quicker block times? Isn't the block size of DGB variable as well?

Im just trying to understand how any crytpocurrency could scale, keep everything on chain and still manage an enormous throughput of transactions per second. Every merchant shouldn't be expected to download a 12GB(?) blockchain to accept payments, maybe you guys have some sort of light client though?

Aside from my pessimism, I do think this coin is really solid in terms of community and development, it's an old project that has been time tested and has shown price action similar to other large cap currencies....wish I would have just bought alot and held it back in 2014. Cry

Definitely a good one to speculate on though, it will pump again to ATH's and hopefully stay there, I think a good target for a future floor is 1100-1400 sats...it will probably need to get listed on binance though unfortunately....they have everyone by the balls right now Sad

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Ten minute blocktime... So just imagine: In ten years you can go to wallmart and pay with Bitcoins there. There are 6 persons in front of you in the queue. Each person needs 30-60 minutes until there payment is verified... Not slow?

Lightning will help avoid the above scenario, but in my opinion, it is a security risk. You make transactions without the original blockchain... I think it will never be as secure as using the original blockchain. Bitcoin is great. It is the fantastic idea of Nakamoto Satoshi, who gave it to us. But from technical point of view, there are much better coins out there today. One of these better coins is definitely Digibyte...

Although anyone can open a lightning channel, unless you have one open with the big boys or someone else that has, it wont be that useful to you. Effectively they will control gateways to cheap fast transactions using the bitcoin network and normal decentralized use will remain expensive and slow. https://bitcointalk.org/index.php?topic=408268.msg36956534#msg36956534

DigiByte does have light SPV node mobile wallets for convenient use, not to store all your dgb in though. The 15s blocktime is achieved by having 5 algo mining with each algo having an average 1 min 15s blocktime, this means the average time is 15s for a block to be found over all 5 algos. It is unlikely that it will become much faster than this due to the validation process. The cost of memory is getting cheaper, so the burden to users should become less critical as blocks get larger. I believe blockchain pruning will at some point also be introduced too....exactly what happens here I can't tell you yet (It's one for Jared to explain, perhaps)....but it isn't difficult to imagine that you could lock past blockchain events up, perhaps even using DiguSign for example and negate the need to hold the entire blockchain but still be certain if it was intact and true or not.

Thanks for all the information, good post. I knew that the 5 algo mining was certainly an innovative spec of DGB, i think that its what separates this coin from others. This digusign concept sounds interesting for sure. We will see where blockchain tech goes in the coming years...maybe just like people couldnt comprehend streaming video over the internet when everyone was using 56k dial up, blockchain tech will advance enough to where the thought of downloading the entire chain isnt a big deal.