Cryptocurrency is a vast domain that is crowded by a great number of brands. It is pretty obvious that no single brand of cryptocurrency can possibly claim to be a comprehensive solution to address all requirements of people. Byteball Bytes have been able to offer a trustworthy option of making payments that can facilitate both peers.
Byteball or GBYTE cryptocurrency offers a unique way of linking transactions with each other by leveraging a cryptographic method. This results in addition of new transactions on top of old ones resembling the formation of a snowball. This also explains the name ‘Byteball’.
Byteball is designed to offer an exclusive feature of conditional payment to build trust between two strangers. Byteball Bytes guarantee a secure transaction that safeguards interests of both parties.
Every payment through Byteball Bytes is backed by smart contract feature that can ideally be applied in transactions wherever there is possibility of negative events. The peer to peer applications can be found in sports betting with facility of zero fee crypto exchanges and can also facilitate insurance payments.
Payments of Byteball Bytes are synonymous with instant confirmations and outstanding scalability with no involvement of blocks and miners. The fees are also extremely low. The storage of Byteball data leverages DAG (Directed Acyclic Graph) instead of blockchain that suffers from constraints of scalability as well as concerns of a block-size. DAG also enables GBYTE users to protect each other’s data as past data which is formed by other users is always referenced.
Block-less design of Byteball Bytes exudes simplicity because absence of blocks means no transactions as users themselves are supposed to reference their past transactions by adding every transaction at the end of Directed Acyclic Graph. It also obviates role of miners who will take their own sweet time for creation of a new block. Moreover, users are not left guessing about whether your transactions are included by miners in particular block.
One more distinct feature of Bytes cryptocurrency is availability of an option that provides total privacy of paying out which is as good as paying in cash. BlackBytes facilitates complete anonymity of a peer to peer transaction which would never be visible on a public database.
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