Obyte (GBYTE) is a decentralized database and cryptocurrency known as Bytes that does not use a blockchain like most cryptocurrencies. Byteball works by linking previous transactions with new ones, signing the hashes to form what’s known as a Directed Acyclic Graph. Byteball is intended as a means of transferring assets on a network or as a decentralized database.

• Highly correlated to its BTC price for the most of last year, Byteball’s USD price has recently diverged dramatically from it.
• Obyte price today is $ 10.49 with a 24-hour trading volume of $ 1,346.79, market cap of $ 7.76M, and market dominance of 0.00%.
• Showing market cap and how it’s compared to different cryptocurrencies.
• There was a time when bitcoins dominated most of the cryptocurrency market.
• With Jumio’s help, you can now securely link your identity to your byteball wallet and address.

Bitcoin is an unusual currency in that it necessarily makes all transactions public in its blockchain. 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 byteball gbyte payment contracts become much more powerful since oracles are implemented in the platform. Oracles are basically trusted third parties who monitor specific world events and import their results into Byteball as a data feed. There are several chatbots that can be discovered and accessed via the built-in Bot store.

Byteball Quick Facts

Byteball Bytes is the native cryptocurrency of the Byteball decentralized database. It however, is not a blockchain platform and does not have blocks or mining. Instead of blocks on blockchain, every https://www.tokenexus.com/ new transaction references one or more earlier ones (parents) by including and signing their hashes. All coins are issued to a genesis address from which every full moon users get free Bytes.

Obyte reached its highest price on Jan 14, when it was trading at its all-time high of $ 1,246.52, while Obyte’s lowest price was recorded on Dec 29, when it was trading at its all-time low of $ 6.81. The highest GBYTE price since the last cycle low was $ 17.84 (cycle high). The Obyte price prediction sentiment is currently bearish, while Fear & Greed Index is showing 47 (Neutral). Bytes are the native currency of Byteball, and they reflect the value of storing transactional data on the decentralized system. You use Bytes to pay for adding data to the database, and they can also be used to issue your own currencies.

What about Byteball?

DAG has non-linear functionality but allows for trouble-free future reference to any ball. It eliminates problems with blockchain’s block system and offers benefits like prompt confirmation, reduced energy consumption, and transaction finality. If you still experience problems, head over to the Obyte Discord and provide details of the problem in the #helpdesk channel. No, Obyte is a novel platform with its own DAG-based structure, consensus mechanism and eco system. Usually, the answers to most questions can be found in the various online material like this website, the Obyte Developer Site and the
Obyte Wiki. Even though most answers can be found on those sites, users often find
it faster to simply ask their questions to the communities on Discord or
Telegram.

Due to the absence of miners and blocks, there is no risk of front-running and other miner manipulation, and dApps are safer and easier to develop than blockchain-based dApps. DApps are developed in Oscript – a new language that avoids many unsafe programming patterns common in earlier dApp platforms. Thanks to its safety, Obyte is especially well suited for DeFi apps, some are already available on the platform, such as Discount Stablecoins, some are being developed. We also gather additional information from different sources to ensure we cover all necessary data or events.

Everything About Obyte Crypto

Obyte’s current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 8.31 Million. Showing market cap and how it’s compared to different cryptocurrencies. X2,x10, etc. means if the price of Obyte (GBYTE) will multiply by x2,x10, etc how much market cap it will have, and how it will compare then to the same coins. 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. Transactions are processed faster and cheaper than traditional blockchain-based cryptocurrencies because there is no mining required.

Regulations governing cryptocurrencies vary by jurisdiction and may change over time, which could impact the legality and use of cryptocurrencies. GBYTE is traded on 2 exchanges, if you want to buy it, you can check step-by-step instructions on how to buy Obyte page. Obyte Foundation is a non-profit legal entity registered in Liechtenstein. The Foundation is tasked with distributing the undistributed Bytes in ways that help adoption of the platform.

On January 18th, 2017 Byteball announced its partnership with Jumio, a leading provider of identity verification services. With Jumio’s help, you can now securely link your identity to your byteball wallet and address. Additionally, you can publicly display the verified identity of your address for others to see so other users know they are sending assets to the right the address.

• Interacting with smart contracts is as simple as answering a few questions from a helpful chatbot.
• The table above shows the price and ROI of Obyte today and previous years on the same date (Oct 14).
• 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.
• There are several chatbots that can be discovered and accessed via the built-in Bot store.
• 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.

CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions. If you’re looking for a set of practical and insightful crypto market information and data, we have the analytics tools to suit your business needs. ⚠ Trading cryptocurrencies involves risk, and may not be suitable for all investors. Cryptocurrency prices can be volatile and unpredictable, and may be influenced by various factors, including market manipulation, regulatory changes, and technological developments. The system can attach a new storage ball by signing the previous transaction hashes to it.