What is ByteBall? The Cryptocurrency With No Blockchain

By1stWMR

What is ByteBall? The Cryptocurrency With No Blockchain

It’s slow or sometimes even very slow, it’s horribly expensive, etc. Our society needs a way to enforce contracts, make them certain, make the environment safe, and encourage creation of value. To create the new visual identity byteball we are going to hire an external agency with extensive experience in rebranding. Once we had our options and conditions clear enough we decided to hire a naming agency to help us structure and finalize this process.

The future is decentralized

• You could therefore structure your very own escrow smart contract that will pay the recipient once someone else has verified that the condition has been met and only after a certain period has elapsed.
• There are no doubt numerous other examples that one can think of.
• There is not that much volume on these exchanges currently with total daily volume on Bittrex at roughly $614k.
• Further enhancing its ecosystem, Obyte launched a public decentralized data cloud portal, integrating this with the product suite of QORPO.
• So what sort of functionality is available for those users of ByteBall?

If they don’t have a wallet yet, they are prompted to install one in order to receive the money. In the past, the team has distributed Bytes and Blackbytes for free to BTC holders and to existing holders of Bytes who have linked their https://www.tokenexus.com/ accounts. They have now distributed 64.5% of its total supply for free over a total of 10 airdrops over the past year. In addition to payment for storage fees, you can pay Bytes directly to other users for goods or services.

Byteball Rebranding to Obyte — The next step to real-world adoption

• Its aim is to support work that improves the Byteball ecosystem.
• There’s many interesting uses of peer-to-peer smart contracts that can be carried out on Byteball’s network.
• By linking transactions to one another in the system, Byteball aims to create safe contracts that can be trusted to execute exactly as agreed upon.
• Additionally, the platform has implemented staking and bug bounties, incentivizing the community to participate in the network’s security by identifying and reporting potential security issues.

The technology and features are solid, so once they gain more exposure, Byteball could potentially become incredibly popular. Byteball has a second currency that can be used on its platform – Blackbytes. Unlike Byte transactions that are completely visible on the DAG, Blackbytes are significantly less traceable. Blackbyte data is not recorded in the public database; Instead, the transaction data is sent directly peer to peer. The platform has also been a fertile ground for the development of unique DeFi applications.

The Future of Byteball — The Byteball Foundation

Obyte is a cryptocurrency platform that operates on a directed acyclic graph (DAG) rather than a traditional blockchain. This innovative approach allows for the decentralized storage and transfer of data, including cryptocurrencies. Launched on December 25, 2016, Obyte stands out by eliminating the need for miners and blocks, which are common in other cryptocurrency networks.

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