Presentation and definition of the crypto-currency Byteball Bytes (GBYTE)
- Name of the crypto-currency : Byteball Bytes
- Abbreviation GBYTE
- Where to buy Byteball Bytes ? Binance
- Creation Date : December 2016
- White paper of Byteball Bytes
- Web Site Byteball Bytes
A crypto-currency distributed free of charge
Byteball Bytes is a crypto-currency launched by Anton Churyumov. It allows you to perform transactions in a decentralized manner and securely, without the intervention of any intermediary. The particularity of this virtual currency lies in its distribution : it is distributed free of charge to all users with Bitcoins and Bytes. It is a form of distribution with innovative, which has the objective to quickly spread the chips, and to make known the currency more quickly. The first distribution of Byteball was carried out on 24 December 2016. Each month, a new distribution takes place. For information, Iconomi has recovered almost 10% from the first distribution.
How to use Byteball ?
To test Byteball, you just need to visit their website to download their Wallet. Once the wallet is installed, you must start a discussion with the bot to receive your first free chips.
The technology Byteball
Byteball differs from other currencies because the network has no blocks. This therefore avoids the potential problems related to the size of the blocks. The system works thanks to a GOA, directed graph acyclic. In summary, each new transaction will reference one or more transactions (“his parents”) and will include and sign its “hashes”. In this way, each new operation will confirm that a significant number of transactions, since it will confirm its parents, parents of its parents, etc., The name of Byteball, which literally means “Ball-byte” represents precisely this snowball effect in the transaction confirmation.