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      Byteball Bytes

      Byteball Bytes

      Total Supply
      1000000
      Circulating Supply
      703558
      Max Supply
      0

      Byteball Bytes(GBYTE) price, charts, marketcap

      1 GBYTE = 26.580000 USDT 0.00%

      About Byteball Bytes

      The Byteball network was launched in December 2016 by founder and chief developer Tony Churyumoff. At the same time, the first GBYTE coin distribution took place. Rather than using blockchain, Byteball stores and orders transactions using a Distributed Acyclic Graph (DAG), which links storage units to one another.Just like other common cryptocurrencies, such as Bitcoin and Ethereum, Byteball allows you to initiate a payment by specifying the receiver’s wallet address and the amount you want to send. However, one key difference is that Byteball makes it possible to send conditional payments – in other words, the person you’re sending GBYTE to will only receive the funds once they have met the other conditions you specify as part of the contract.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.

      Read more about Byteball Bytes

      Read less about Byteball Bytes

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      Total Supply
      1000000
      Circulating Supply
      703558
      Max Supply
      0
      Total Marketcap
      6106883
      Volume
      0.00
      Open
      26.58
      High
      26.58
      Close
      26.58
      Low
      26.58

      Charts

      Byteball Bytes

      Exchange

      Period

      all 1y 6m 3m 1m 7d 1d

      Index

      Chart Type

      CoinExchangeData Loader

      History of Byteball Bytes(GBYTE)

      Byteball Bytes like all other cryptocurrencies is based on the model of the first actual cryptocurrency, Bitcoin. However, before Bitcoin’s and Byteball Bytes’s time , cryptocurrencies were much more different, relying instead on a centralized power structure rather than the decentralized governance we see today. If it weren’t for the works of cryptographers such as David Chaum, Wei Dai, Nick Szabo and Hal Finney, who established some of the ground concepts for modern cryptocurrencies, Bitcoin, Ethereum and Byteball Bytes would not exist today. However, the most important reason why Byteball Bytes was made possible is thanks to a person or a group of people under the alias Satoshi Nakamoto. He took the concepts that cryptographers before him established and managed to create an actual peer-to-peer electronic money system that couldn’t be counterfeited. If Satoshi Nakamoto didn’t create Bitcoin, it is hard to say if Byteball Bytes or most cryptocurrencies would exist today.

      Byteball Bytes is a cryptocurrency with the symbol GBYTE and it’s price ticker on our website is 26.58. Its current price is 26.58 and the total change over the past 24 hours is 0.00. Byteball Bytes boasts a volume of 0.00 in the past 24 across your selected exchanges.

      Byteball Bytes Characteristics

      Cryptocurrencies like Byteball Bytes use strong cryptographic protocols, or very complex computer code to secure transfers of information, in order to create a safe system that is notoriously difficult to crack. The programmer of digital currencies such as Byteball Bytes base these protocols on complex mathematic and computer engineering fundamentals, creating a structure that makes it impossible to replicate funds for Byteball Bytes and also hides the identities of the parties involved on any transaction on Byteball Bytes network , unless the participants freely disclose their information.

      Byteball Bytes Operates on a Blockchain

      Byteball Bytes, like most cryptocurrencies operates on a blockchain, a new and disruptive technology that offers benefits for storing, securing and transferring information that was not otherwise possible before its inception. The idea of blockchain was first discovered in 1991 by Stuart Haber and W. Scott Stornetta, however it was not until an anonymous person or group under the alias of Satoshi Nakamoto that created the first functional blockchain (Bitcoin’s blockchain) and improved on the ideas of Haber and Scornetta to create a truly functional distributed ledger.

      You can imagine the blockchain that Byteball Bytes is based on as a giant, distributed database where every transaction’s information is recorded and then spread on a massive network of connected nodes or computers. The information for transaction of Byteball Bytes is then multiplied and stored on each individual node, so in order to change it you would have to access he majority of the Byteball Bytes’s nodes at the same time, which has so far proven to be impossible.

      The advantages that Byteball Bytes runs on a blockchain are that it is very cost effective to run, compared to other centralized resources, due to the cost of operating being split amongst all the network participants.

      No one can alter the defining characteristics that govern Byteball Bytes base, unless certain conditions are met and changes are implemented by the developer team or a network wide consensus is reached for the changes to be applied.

      One disadvantage of operating on a blockchain is that generally, transactions with Byteball Bytes are final, meaning that is very unlikely that a transaction can be rolled back if a mistake occurs. Be careful when transacting cryptocurrencies such as Byteball Bytes and make sure you double check all the details of the transaction before submitting it.

      Byteball Bytes also boasts a higher degree of safety, as the mechanisms of the blockchain are incredibly hard to crack

      Byteball Bytes Advantages

      Decentralized Point of Control

      Byteball Bytes (GBYTE) is defined by a decentralized governance system, which does not rely on a single point of control to manage transactions on the network in the same way a bank would. Because of this Byteball Bytes’s network features a distinct advantage that makes it very difficult to counterfeit or imitate. Another advantage of being decentralized is that any attacks on Byteball Bytes’s network will have to be in multiple places at the same, whereas a bank or any centralized system will have an host of servers in one place.

      Cost Efficient

      Generally speaking, auditing records is a time consuming and expensive process, whereas for Byteball Bytes which stores all its records on the blockchain, this can be done with minimal effort and in a much shorter time.

      Establishing a Digital Identity

      You can create your own identity on the Byteball Bytes blockchain, which can be though of as an account of sorts. Whenever you open an “account” on the Byteball Bytes blockchain, you will be given a private key, which lets you interact with the blockchain, and a public key, which let others identify and interact with you.

      Immutable

      Since all information that is transmitted on the Byteball Bytes blockchain is stored and secured on a wide network of computers or nodes, you can always be sure that the information presented is valid and has not been tampered with.

      Byteball Bytes Supply Details

      Byteball Bytes is distinguished from traditional fiat currencies due to way the supply works for most cryptocurrencies. Another interesting fact about Byteball Bytes’s supply is there can be two other types of supply aside from the maximum supply. One is the total supply which indicates the amount of coins there are currently in existence. For Byteball Bytes the total supply is 1000000. This is the sum of all Byteball Bytes units that have been mined or created since the network’s creation. . The other one is the circulating supply which for Byteball Bytes is 703558. This can be different that the total supply due factors such as funds being locked in escrow, coins being locked in masternodes.

      How to Store Byteball Bytes

      There are a few way to store your Byteball Bytess , and they all involve a certain types of both physical and electronic wallets. Regardless of what kind of wallet you will use, in order to access your Byteball Bytes funds you will need to have a private key and a public key. With the private key, you can access your funds and send them to whoever you like, just as long as it is an address that Byteball Bytes is compatible with. Never ever disclose your Byteball Bytes private key or also called private address, as this will give anyone who has it full control over your wallet. The other type of key is the public key or address, which is used for other people to send Byteball Bytes to your wallet, and this one can be freely disclosed but it can be used to identify you if a name is ever associated with your public address.

      Byteball Bytes Paper Wallet

      The only physical and non-electronic way to store your Byteball Bytes is through a paper wallet, and this is possibly the safest way to protect your Byteball Bytess. Simply write the private and public keys of your Byteball Bytes wallet on a sheet of paper, however you will need access to an electronic device should you choose to send or move your Byteball Bytes funds to another address. The risk here is losing or damaging the sheet of paper with your Byteball Bytes public key.

      Byteball Bytes Hardware Wallet

      You can store Byteball Bytes on a device like a Trezor or USB drive. You are able to make online transactions by plugging them into any any net enabled device to send Byteball Bytes to another address. Usually the hardware device that you store your Byteball Bytes on is offline which is a great security advantage. Please conduct proper research before purchasing any hardware wallet to store Byteball Bytes funds on as many are outdated or of poor quality.

      Byteball Bytes Desktop Wallet

      Desktop wallets are a convenient and easy way to store your Byteball Bytes coins. Find a reliable wallet software that support Byteball Bytes install it on your PC and that’s pretty much it. It can be dangerous if any virus infects your PC or if any physical damage comes to it, which can result in the loss of all your Byteball Bytes funds.

      Byteball Bytes Online Wallet

      For online wallets, they operate in the cloud and your private and public keys for your Byteball Bytes funds are stored in the cloud as well. Very handy if you plan to access it from multiple devices but they also put your Byteball Bytes at great risk due to security breaches in the cloud storage which is not that unheard of.

      Byteball Bytes Mobile Wallet

      The most easy-to-use method of storing Byteball Bytes is on a mobile wallet. It is a simple smartphone application where you set up an account and you can use it to send Byteball Bytes by scanning a QR code or even use it to pay in any shops that accept Byteball Bytes. However, your Byteball Bytes funds can be lost if your phone is damaged or if its security is breached.

      Byteball Bytes Summary

      Byteball Bytes’s network can be defined as a payment system, with accounts, transactions and balances. You can store Byteball Bytes on one of the wallet types mentioned above and it will act as your own personal bank account that you are responsible of maintaining and keeping your private keys secure. Byteball Bytes as a cryptocurrency allows you to make secure transactions and you can always check the transaction details by checking the Byteball Bytes public ledger, if applicable. This revolutionary method of being your own bank assured that Byteball Bytes and other cryptocurrencies will play a vital role in the way we conduct transactions and how we define currencies in the future.

      What you can do with Byteball Bytes on CoinExchangeData.

      You can add Byteball Bytes to your watchlist on our platform, in order to keep better track of its price movements. Another handy way to always be up-to-date with any prices changes is to add alerts for Byteball Bytes and you can do so by set up your personalized alerts by creating an account and going to the alerts tab. Charts and price metrics for Byteball Bytes are readily available and we guarantee that the information supplied by CoinExchangeData is as accurate as possible. All the volume and price information regarding Byteball Bytes reflects the same information you can find on exchanges, so it is very easy to find the best exchange to purchase or sell Byteball Bytes on. Our converter lets you find accurate conversion quotes for Byteball Bytes against other cryptocurrencies and most traditional fiat currencies. You can use it to see if exchanging Byteball Bytes for another digital currency can be a more profitable investment or just to check the value of your portfolio.

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