As the blockchain industry started to grow in popularity and appeal in front of the eyes of many investors as well as developers, there have been numerous blockchain networks that were developed as a means of meeting market demands.
One such network is the DigiByte blockchain network, which aimed at doing things a bit differently soon after Bitcoin blew up in popularity.
Today, we are going to go over just about everything that you need to know when it comes to the DigiByte network, non-fungible tokens (NFTs), as well as why and how you can deploy your own on top of the network. Let’s dive in.
- DigiByte is what is known as a UTXO blockchain network, one that utilizes proof-of-work (PoW) as an algorithm through which miners can secure the network and verify the transactions.
- It is a fully decentralized, open blockchain network popular due to its asset creation abilities, decentralized application functionalities, security as well as speed.
- Anyone has the ability to develop dApps and NFTs on top of DigiByte in the form of DigiAssets.
- NOWNodes enables users to access the network’s node through the usage of an API key that users can get for free.
What is DigiByte?
DigiByte is a rapidly growing open-source blockchain network that was originally developed in 2013 and released in 2014.
It was created as a response to the demands at the time which were required by blockchain networks, one which competing networks couldn’t quite live up to. As such, ever since its time on the market, it has grown to become one of the safest, quickest, longest, and most decentralized UTXO blockchain networks.
DigiByte, as a blockchain network, is broken into multiple layers. There’s the application layer, which is the user-facing layer where anyone can get access to the DigiByte decentralized applications (dApps) and even interact with its native cryptocurrency token, DGB.
Then there’s the consensus layer, which is the layer where the transactions get recorded, which allows miners to manage the release of new DGB cryptocurrency.
Additionally, there’s also the network layer, which is the foundation layer of the blockchain that is responsible for defining the communication and operation procedures of all of the devices that run the software. DigiByte also uses five different mining algorithms, including Sha256, Scrypt, Skein, Qubit, and Odocrypt.
Why use NFTs on DigiByte?GET ACCESS TO DIGIBYTE
The top player through which DigiByte operates is similar to an app store that has clear, real-world uses. What this means is that all types of digital assets can be created with the DigiAssets Protocol on top of the DigiByte blockchain network. This includes Decentralized applications (dApps), smart contracts which leverage the rigidity and security of the blockchain network, and non-fungible tokens (NFTs).
The main reasons why someone might be interested in developing and using NFTs on DigiByte are the following:
- DigiAssets can be used to securely represent anything that is found within the physical world, from tangible assets such as real estate or cars to scarce digital pieces of art. This also includes signed documents, such as deeds, as well as medical bills, which can be protected.
- DigiAssets, as an ecosystem as well as a platform, already has interested parties that are planning to or are currently building their platforms.
- DigiAssets utilizes unique aspects of the decentralized blockchain network as a means of enabling a higher level of security, scalability, and decentralization.
With all of this in mind, we will now be going over how you can build and deploy non-fungible tokens (NFTs) on top of DigiByte.
Building and deploying non-fungible tokens on Digibyte
- Step 1: Login to DigiassetX
In order for you to be able to build NFTs on top of DigiByte, you will need to navigate to the official DigiassetX website and login in order to begin the process.
DigiassetX specifically is an NFT creator platform as well as non-fungible token (NFT) auction platform that has many other services incorporated within it.
DigiassetX is, at the time of the creation of this guide, DigiByte blockchain centrix. What this means is that DigiassetX has developed version 3 of DigiByte’s digiassets layer, and has made it open-source so that anyone can use it and build on it.
- Step 2: Check the number of DigiAsset Nodes Available
When we take a look at the DigiAsset Nodes map, we can see that there are a total of 11 DigiAsset Nodes spread across 10 locations on a global scale.
- Step 3: Setting the client up
First, navigate to the official website and click on “Install”.
Here, you will be able to pick from multiple versions of the software. These include:
- Rasberry Pi 4 8GB
You will download a file called “v3beta12_win”, or a different one depending at the point in time when you download it.
Run the .exe file.
A command-prompt menu will pop-up, that will look like this:
You will need to wait for it to install.
Next, take the address in the user interface, and type it into your web browser.
- Step 4: Creating the Asset
Once it has been installed, you can set up your own core wallet and stream it. You will need to gain access to a node that will provide you with the data that you require, such as block height for example, This is where you can utilize NOWNodes.NOWNodes will allow you to connect to the DigiByte (DGB) node through the utilization of a free API key that is provided by the service.
You get access to an API that has an uptime of 99.95% and can have a consistent level of performance whenever you need to get access to data from the node that occurs on top of the DigiByte blockchain network.
Note that DIgiByte also offers some node data for free, however, note that the overall experience might not be filled with as much detail.
Once it has been installed, and once you open the app through your web browser, you can click on “Asset Creator” in order to begin the creation of your NFT.
Here, you can choose a file that you want to include as your image.
Then you can give your asset a name, description, asset count, divisibility and website.
Note that this user panel gives you access to rules.
Here, you can enable or disable Know-Your-Customer (KYC) requirements, Royalties, Deflation, and Expiry.
Note that you can also create smart contracts in the “Smart Contract” tab so you can deploy it.GET ACCESS TO DIGIBYTE
DigiByte is a blockchain network and not a non-fungible token (NFT).
As the interest surrounding DigiByte increases and more people get involved with development on top of its network, its value will likely go up, but there is always some level of risk involved with this.
This is dependent on your risk appetite. If you are a type of investor that wants to diversify their portfolio, DigiByte might be a logical next step if you genuinely believe what it has to offer is solid.
DigiByte is an excellent blockchain network that has stood the test of time and has maintained the appeal of both developers as well as creatives. The network will only grow over time, and it has never been easier to connect to a DGB node and start development on top of the network.