Unlike other DAG currencies that have seen enormous growth in the last month, Byteball is still quiet and is waiting for its sudden rise.
Disclosure: This is a Sponsored Article
Byteball has a fixed amount of fees equal to the transaction size in bytes. This is a huge advantage nowadays, and it is ridiculously low compared to the bitcoin and ethereum fees. This is achieved through the DAG structure, which at the same time eliminates scalability issues and, thanks to unlimited scalability, the Byteball network becomes more resistant to attacks as the number of transactions increases. This has huge benefits but it’s not all that makes Byteball a unique project.
Byteball distributed their initial ‘Bytes’ via ‘airdrop’ (distributing certain amounts dependent on the amount of BTC of holders) and cashback partnerships with merchants. Dealers and service providers can apply for a refund of 10% of the invoice amount in the form of bytes to customers. You can even get a refund of 20% if you pay via Bytes. By means of wallet, there is an option to manage individual ICOs as Titancoin did. This has resulted in a very large initial place in the market instead of, what has become the industry standard, creating an ICO.
Beyond this, Byteball is offering smart contracts. These contracts have extensive capabilities, such as being able to bet on sporting events. Another advantage is that you are able to send Bytes to email accounts by inputting the recipient’s email address and via chat apps such as Telegram and WhatsApp.
For those who like to guard their privacy, there are the so-called ‘BlackBytes’ which are defacto secondary currency and are used for fully anonymous and untraceable transactions.
We should also remeber one important thing – a lot of computer experts think that the evolution of quantum computers will be very dangerous for typical blockchain currencies; Byteball provides much better security in the event of a network attack using quantum computers.
You may be interested
Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?Brian Evans - Jun 23, 2018
At press time, bitcoin is retaining its $6,100 price from yesterday. The currency fell to this position from $6,700 after Japan’s Financial Services Agency (FSA) sent notifications…
Are Centralized Exchanges Breaking the Crypto Promise?Brian Evans - Jun 23, 2018
Exchange hacks are becoming the new normal. Just two weeks after Conrail’s $37.2 million hack, it was time for Bithumb’s $31 million hack, with the difference being…
Irish Crypto Exchanges On The Receiving End As Banks Close AccountsBrian Evans - Jun 23, 2018
A study conducted by Amarach Research and Red Flag recently revealed that the number of people in Ireland who currently own cryptocurrencies is around 120,000, or about…