Cryptocurrency Byteball Bytes (Gbyte) is a currency that first appeared in 2016. It was created according to the decentralization system on the type of DAG scheme in 2016. Such cryptocurrency in several moments stands out significantly from those currencies that were built on the basis of the blockchain, and in certain points completely coincides with them.
Using DAG technology, Byteball Bytes cannot be obtained thanks to mining. All due to the fact that the coins were distributed by the founder of 2 phases. The total amount of coins is 1,000,000. Byteball Bytes has its own trade designation Gbyte.
History of creation
The name comes from the English word Snowball, which means a snowball. It was from this word that BYTEBALL went – it turns out, a larger com from bytes. Only in this case is an information ball.
This cryptocurrency technology does not use blocks. Absolutely any translation has a link to the one that was before. These links perform operations on each other and form a special guide to the acyclic graph among themselves.
It turns out that each transaction has basic data about “mother”, “grandmother”, “great -grandmother” and so on. Such a “connection” of bytes reminds the developer of this project a certain snow turnover.
The main technological uniqueness of this cryptocurrency is that the DAG system is used, not Blockchain. The main component of generation in the program is each next translation.
All transactions retain links to those that were before, make hashs for them and enter the data. Then, the main network creates a “tree” of translations, and then each of them receives the status of the confirmed and does not change. In the case, if the transaction fell into the main chain, then it is called as completed and it cannot be somehow changed.
All translations immediately find their confirmation, and there is no way to make any changes, even the slightest deviations. And this option is the main advantage for commercial projects. Thanks to this, the participants themselves can independently choose the “type” of the operation: anonymous or public.
If necessary, the operation can confirm and produce a third party. The third party can be of any type: exchanges, banks, etc.D. Options “Third Party” allows you to protect their transactions from scammers at the level of legislation.
On the other hand, the translation can be made anonymous. In such a situation, the program saves only the hash, and all personal information remains classified.
The Bayteball program works in full force, and transfers transfers. The developers themselves put it as an excellent platform on which you can create various projects, especially on commercial topics. In addition, the platform itself can act as the soil to create and transfer assets for other network participants.
|Anonymity||High, complete hidden IP|
|Number of coins in circulation for today||645222 (1000000) Gbyte|
|The maximum possible number of coins||1,000 000 gbyte|
|Capitalization for today||384 074 848 $|
|Cost for today||595,2600 $|
|Website||https: // byteball.Org/Index.HTML.ru|
|When starting||2016 added to the exchange|
|Exchange where you can find currency:||Cryptox;
In this cryptocurrency there are no blocks and users of protocols – no, even configurations. Moreover, there is no mining in the system. All such processes are replaced by DAG system. The system creates a structural operation, it consists of the main goal.
Objectives are building a thin line of hierarchy of appeals: the championship is given to transactions that were made earlier. In a situation where double expenses occur, such an operation is performed, and later transfers are instantly blocked.
The main chain is determined by simple and not complex criteria. Simply put, the advantages on the side of participants with a more authoritative status, they are called witnesses. The right to be a “witness” is given after calculating the frequency of inclusion of the user in the operation of another user. A more detailed explanation of all actions is in “white paper ICO”
Why is it worth investing?
This coin is relatively young, and has no great appreciation and popularity in the currency market. The technology of work is quite relevant and it has prospects, it has no significant disadvantages. Therefore, experts predict that in the future the quotation of this currency will grow.
Compared to other currencies, Byteball Bytes does not have a speculative basis. Gbyte is aimed at commerce and constant use in the economy, not trade in a speculative way.
During 2017, Byteball Bytes showed a rapid growth of quotation. In July, the cost of one currency practically reached – $ 900. In the fall, this course decreased slightly, then again the course began to crawl up and is now in a stable line – 550 – 600 $.