Obyte Token Price, Charts & Market Insights Your Crypto Hub

Click the button below to open or install Obyte (Byteball) app on your device and claim your funds. Highly correlated to its BTC price for the most of last year, Byteball’s USD price has recently diverged dramatically from it. One possible explanation for this temporary separation includes the projects unusually high amount of announcements and platform updates that it has released over the last several months. Please make sure you fully understand the risks involved in cryptocurrencies and thus not invest money that you can not afford to lose.

  1. Byteball is a decentralized database with it’s own native cryptocurrency, Bytes, that unlike most does not require PoW or PoS mining and does not have a blockchain nor blocks.
  2. They have now distributed 64.5% of its total supply for free over a total of 10 airdrops over the past year.
  3. This occurs about every 10 minutes due to the nature of the protocol.
  4. You will be paid out a certain amount that is based on the outcome of some external event.

You can help by providing translation of the wallet, by actively answering questions from other users on the social media platforms and community servers. You can keep an eye out for projects that might benefit from using the features provided by Obyte and generally be an active community member. The GBYTE token is utilized to pay transaction fees on the Byteball network and for voting in certain decentralized governance decisions. Byteball has gained support from a variety of exchanges, wallets, and merchants, and is increasingly being used in real-world applications. ByteBall’s other key feature is it easy to use, peer-to-peer smart contracts. These smart contracts allow anyone to create contracts with conditions and if those conditions are not meant then your money will get sent back to you.

Byteball also allows for private, untraceable transactions using its 'Blackbytes' currency. Byteball Bytes (GBYTE) is a DAG-based cryptocurrency developed by Anton (Tony) Churyumov. Byteball is a peer-to-peer, decentralized database that provides for the tamper-proof storage of data. 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.

This smart contract simplicity also means that less coding mistakes such as the Parity wallet freeze are likely to occur. The platform can handle thousands of transactions per second without compromising performance or security. This makes it ideal for applications such as online gaming, micropayments, asset trading, and more. When you have attested an email address using the Email attestation bot, anyone can make payments to you from their wallet using only that email address.

What is Byteball (GBYTE)?

The system can attach a new storage ball by signing the previous transaction hashes to it. Johnny Sessa is a blockchain investor with a dual-concentration MBA specializing in Finance and Mergers & Acquisitions. Available directly in Byteball’s wallet, the Bot Store gives users a current list of available chatbots.

The CoinCodex Cryptocurrency Price Tracker

For example, if your transaction's data consumes 800 bytes of disk space, the fee to submit that transaction to the DAG will be 800 Bytes of the currency. In addition to its core features, Obyte also offers a range of tools that make it easier for developers to build applications on top of the platform. These include APIs for integrating with external services, https://cryptolisting.org/ libraries for creating custom smart contracts, and various other resources. Byteball is geared toward providing a platform for fast and secure transfer of value, while using a novel system for governance and consensus. Transactions on the Byteball network are confirmed by witnesses, who are a select group of nodes that have been approved by the community.

Other Great Projects

Transactions are their own blocks and don’t have to connect in a straight chain; They’re linked to multiple previous transactions and form a structure called a DAG (directed acyclic graph). Unlike Bitcoin, which links blocks in a linear chain, Byteball joins newly uploaded information to its database by attaching it to multiple previous data transactions. Building upon each other, the transactions form a structure called a DAG (directed acyclic graph). Private payments can be made using blackbytes, a cash-like untraceable currency. Its transactions are not visible on the public database that shows all payments made with (white)bytes.

One of the disadvantages of a Bitcoin payment is that once it has been paid, there is no way to get it back. Hence, if you need to make a payment based on certain conditions having being met, then you will have to use some form of an escrow service. Byteball is an interesting project that many in the Bitcoin community may have heard of recently.

What is ByteBall? The Cryptocurrency With No Blockchain

In order to reduce transaction spam on the network, ByteBall makes use of transaction "Witnesses" who will charge a fee of 1 byte per byte of data that is stored on the DAG. As you can see, all of the transactions in the DAG are cryptographically linked to one another. Other transactions will be added on top of yours when they are entered.

Obyte Quarterly Returns

The table above shows the price and ROI of Obyte today and previous years on the same date (Jan 30). Obyte's current circulating supply is 739,529 GBYTE out of max supply of 1.00M GBYTE. The Obyte team has built a number of truly unique, first-of-a-kind apps and features, mostly in the DeFi space. If that wasn’t impressive enough, Churyumov owns SMS Traffic, a Russian technology company that offers solutions and marketing for banks, insurance, and retail firms. Attending Moscow Engineering Physics Institue from 1991 to 1997, Churyumov received his degree in Theoretical Physics. Crucial to its success, the Byteball teams believes its technology must be widely adopted for it be successful.

Wallet identity verification is practical for payments that make a user declare their identity for legal purposes such as ICO events. Smart contracts are created and interacted with by messaging different chatbots from Bot Store. Interacting with smart contracts is as simple as answering a few questions from a helpful chatbot. Byteball’s conditional payment contracts become much more powerful since oracles are implemented in the platform.

Byteball is novel, not only in dispensing with a blockchain, but also in launching without an ICO. While Byteball has come in for criticism by some detractors, the concept undoubtedly has its benefits including fast and irreversible transactions. There is a number of additional features that come with Byteball including blackbytes which is the name for tokens used to send untraceable payments which aren’t recorded in the public database. Mainly from its impressive method of recording web information, Blockchain technology has always been considered one of the most important digital breakthroughs to date. However, the use of such carries discrepancies that compromise its adoption and usage.

Users then have the ability to disclose their identity during payments if they elect to do so. Commission fees create a consistent system of value byteball gbyte transfer that aligns the interests of all Byteball’s stakeholders. It also prevents users from spamming useless messages to the database.