This data may include digital assets that can be traded on the peer-to-peer network. The Byteball crypto currency attracts Ethereum Code attention with free Airdrops.
Byteball Coin – What is this crypto currency?
The crypto currency is all about smart payments and the peer-to-peer network. The Byteball Coin is not part of a blockchain like most crypto currencies. The Directed-Acyclic-Graph-System (short: DAG) is used for the Byteball Coin development.
Ethereum Code development not easy
This system does not consist of a chain of blocks like a block chain. Instead, the transactions are confirmed by linking to each other. The more people buy and use the Byteball Coin, the more verifications are performed. Unlike most crypto currencies, GBYTE Coin development does not require proof-of-work or proof-of-stake. This also eliminates the need to dig for new coins. The coins are issued completely free of charge to the users who hold them Ethereum Code in the Byteball Wallet. How much depends on the amount of coins held.
Within the network, the crypto currency is used to upload data. The fee for this upload corresponds to the size of the data. So 1 byte costs 1 byteball bytes. Another area of application is conditional payments, which belong to Smart Payments. The user can define the conditions and send byte balls at the same time. If the conditions are not met, the coins will be returned. For example, insurance or betting can be arranged.
An intermediary is not required, the Byte ball network is peer-to-peer and the Smart Payments regulate the payment and conditions on their own. Chatting is also possible via this P2P network. The functions of the network are usually controlled via the eWallet. This is the official Byteball Wallet. The eWallet can be made accessible to multiple devices, allowing multiple people to manage digital assets together.
Digital asset management is another feature of the P2P network. The coins can be tokens for digital assets such as currencies, certificates, debts, etc. This allows trading in digital assets via the P2P network. Transactions with the crypto currency have the advantage that they are almost completely anonymous and cannot be traced. Only the sender and receiver have the transaction data, only the HASH, that is, the encrypted data, is located on the DAG. Furthermore, the data is secured via KYC and AML requests. Once the data is on the DAG, it cannot be changed.
A special feature of the GBYTE crypto currency is the way the coin is distributed. This is 98% free of charge. This should help to spread the crypto currency. The distribution is done via Airdrops, where coins are distributed for free if you own bitcoins or byte ball coins. How many you can get depends on the amount you already have on your wallet. In addition, users receive 10% of the purchase value in byte balls when making purchases via partner portals.
Byteball Coin – Who is behind the crypto currency?
The Byteball company is behind the development. Not much is known about most developers, the team tends to lay low. The founder is Anton Chuyumov. He founded several Internet companies, such as Teddy ID and Platron. Previously he studied physics and mathematics in Russia, but then turned to business. In 2014, he began development when he discovered the DAG.