Skip to main content

Have you heard about Byteball ? On the 9th July I received about $280K (revealed) plus (hidden values) worth GBYTE absolutely free

Do you know about Byteball & it's fair distribution ?

Byteball is a completely new cryptocurrency with totally new consensus algorithm DAG (Directed acyclic graph). To know more about DAG algorithm you may navigate to  https://en.wikipedia.org/wiki/Directed_acyclic_graph.  DAG is Byteball's backbone where maximum crypto currencies use blockchain. For this Byteball has no block size issues, because it has no blockchain actually. Instead of blocks on blockchain, every new transaction references one or more earlier ones (parents) by  including and signing their hashes. The links among transactions form a DAG. By including its parents, each new transaction also indirectly includes and confirms all parents of the parents, parents of the parents of the  parents, and so on.  As more transactions are added after your  transaction, the number of confirmations you receive grows like snowball, that’s why the name Byteball (our snowflakes are bytes of  data).  

Mining, Fees & Money Supply

There is no PoW (Proof Of Work), no PoS (Proof of Stake), and no mining. All coins are issued to a genesis address from which every full moon we get free bytes. The fees paid for storing one’s transactions (or any other data) in the Byteball database are equal to the size of the data being stored.  If  the size of your transaction data is 500 bytes, you pay exactly 500  bytes (the native currency of Byteball) in fees. There are only 10^15 bytes (1 Million GBYTE) existed. All bytes will be issued in the genesis transaction.  Since the fees paid are returned into the circulation, the money supply will remain the same.  
 1 GB = 1000 MB ; 1 MB = 1000 KB, 1 KB = 1000 Bytes, So, 10^15 Bytes means 1 Million GB 

Some Interesting Features of Byteball


1. Conditional payments :  You set a condition when the payee receives the money. If the condition is not met, you get your money back. With this great feature you'll able to do exchange bytes to other assets or, bitcoins & vice versa without help from a middleman. A great & true P2P exchange is possible only on Byteball platform, it's sheer different from Bitsquare. 

 2. P2P payments in chat : You can pay any person via chat by adding their wallet device to your wallet device. Oh! I've forgotten to tell that a nice chat app is integrated to your Byteball wallet, it's decentralized, privacy protected & fully encrypted. 

 3. Prediction markets : Forget about Gnosis . Byteball has a strong feature to create a P2P smart contract that can be unlocked if a specific event occurs. Use it for betting on price movements and insurances also. 

 4. P2P insurance :  Buy insurance from peers to get paid in case a negative event occurs. Sell insurance for profit.  

 5. P2P betting :  Do you love to bet on soccer matches ? It's very easier on byteball platform now. Bet against other users on sports events without any middleman. 

 6. Chatbots :  Shop by chatting with a merchant's bot, pay in two clicks. Exchanges and other services are also easy to use in conversational interface. 

 7. Assets and on-chain exchange (Atomic exchange):  Bytes is the native currency of Byteball.  Any User can issue any other tokens (assets), e.g. to represent debt.  The debt can be expressed e.g.  in fiat currencies or in natural units (barrels, ounces, kWh, etc).   The issuers of the debt can reveal their real-world identities and/or  be voluntarily attested (i.e. their real-word identities be verified by a  well known third party such as CA).  This enables the use of the  existing legal system to secure against fraud.  
 8. Regulated assets :  Regulated institutions can issue assets that are compatible with KYC/AML  requirements. Every transfer of such asset is to be cosigned by the  issuer, and if there is anything that contradicts the regulations, the  issuer won't cosign. This way, banks can issue fiat-pegged assets  and stay fully compliant.  They can open demand deposit accounts and  track them on Byteball as assets.  These assets are easily exchangeable  against bytes and other assets (with bank’s approval).  
 9. Private untraceable payments : The most interesting feature is Byteball's fully private untraceable payment system.  Payments in private assets are not published to the public database. Instead, only the hash of the transaction is stored to the database,  while the plaintext of the transaction is sent directly from the payer  to the payee.  To protect against double-spends, a spend proof is  also published to the Byteball database.  The spend proof is constructed as a hash of the output being spent, so that if the same  output is spent twice, the spend proofs will be necessarily the same.  When you want complete privacy, pay in blackbytes, a cash-like untraceable currency whose transactions are not visible on the public database, they are sent peer-to-peer instead.  
10. Multi signature : For security, you can require that your funds be spendable only when several signatures are provided, e.g. from your laptop and from your phone. For shared control of funds, signatures from different people may be required.
11. On-chain oracles : When dealing with untrusted counterparties, you can lock the funds on an address that is spendable either by you or by the counterparty, depending on the events registered to the database by trusted data providers — oracles.
12. Immutable storage : Once stored in the Byteball database, the data can neither be revised nor removed.
13. Settlement finality : After certain criteria are met, a new transaction becomes final. It cannot be revised even by a powerful attacker. No guesswork about the right number of confirmations, no 51% attacks.

There are also a lot of features, to know more please, visit Byteball's official homepage : https://byteball.org/ &  Read the whitepaper.

Now, I share a superb video uploaded on wiki.byteball.org by Jore Bohne. 



In this video it shows how the conditional payment really works. So, to exchange two different assets between two individuals we do not need any other third party exchanges or escrows. All is made through P2P exchanges via smart contracts. It's a fantastic feature built on byteball platform. This is also called "Atomic Sweep". What is "Atomic Exchange ?" When two parties sign a single unit that executes both legs of the exchange, the two transactions either happen simultaneously or don't happen at all. It is no longer necessary to trust any centralized exchanges.

Buy/Sell Byteballs

  1. In-wallet Exchange Bot 
byteball:Ar2ukVqx309sX+LoC9RVOpfATgXskt+Ser5jVr3Q2FOo@byteball.org/bb#0000 ]
2. Byteball Slack Channel - OTC Trading
https://byteball.slack.com/messages/trading/ ]
https://byteball.slack.com/messages/trading_blackbyte/ ]
3. Escrowed Slack Trading Bot - OTC Trading [Automated]
https://ydx.slack.com/messages/gb_btc/ ]
https://ydx.slack.com/messages/gbb_btc/ ]
4. Decentralized Bitcoin Exchanges
https://bitsquare.io/ ]
5. Regular Bitcoin Exchange Sites
https:/cryptox.pl ]
https://www.cryptopia.co.nz ]
https://bittrex.com ]
https://changelly.com/ ]   

Participation in free Byteball distribution

On every full moon you'll get free bytes & blackbytes by linking your Bitcoin & Byteball Address. The distribution rounds will be finished when all 10^15 bytes are distributed. Here are the rules of distribution :-
BTC to bytes: 1 linked BTC of proven balance gives you 62.5 MB (0.0625 GB)
BTC to blackbytes:  1 linked BTC of proven balance gives you 2.1111 * 62.5 million blackbytes  (money supply of blackbytes is 2.1111 times more than that of bytes)
Bytes to bytes: 1 byte on any Byteball address gives you 0.2 new bytes
Bytes to blackbytes: 1 byte on linked Byteball address gives you 0.42222 blackbytes 

How to link your BTC address and its balances with the distribution? 

It's easy just download the wallet & then navigate to Bot Store. There you find a bot named "Transition Bot". Add it. Now chat with transition bot to link your BTC address. At first type "hi" or, anything then chatbot reacts immediately to display the detailed instructions. Follow carefully the instructions , and it'll done. Actually bot tell you to sign your byteball address with your Bitcoin address to link. There is also an alternative option to send a micro payment to chatbot specified bitcoin address. After 1 confirmation your Bitcoin address will be added successfully. 
Here is a full list of previous distribution rounds :
  • 1st round on Dec 25, 2016: 70,000 BTC linked, 10% distributed;
  • 2nd round on Feb 11, 2017: 121,763 BTC linked, 1.8% distributed;
  • 3rd round on Mar 12, 2017: 129,139 BTC linked, 2.0% distributed;
  • 4th round on Apr 11, 2017: 145,441 BTC linked, 2.3% distributed;
  • 5th round on May 10, 2017: 207,672 BTC linked, 2.9% distributed;
  • 6th round on Jun 9, 2017: 453,621 BTC linked, 6.6% distributed;
  • 7th round on Jul 9, 2017: 949,004 BTC linked, 11.0% distributed.
The 8th round is scheduled for the full moon of August (Aug 7, 2017 at 18:10 UTC). The balances will be snapshotted at the time of the first Bitcoin block after this date, and rules for this round are as indicated above. We will likely have more rounds until we distribute all 98%, the rules in the future rounds will change in favor of current holders of bytes. Chat with the Transition Bot to link your Bitcoin and Byteball addresses and participate, track linking progress at transition.byteball.org

Here is a full guide : 

How to link Bitcoin address for participating Byteball Free Distribution Round ?

How to sign a message with Bitcoin Private Key ? Part #01 

How to sign a message with Bitcoin Private Key ? Part #02 

Byteball is the Next Bitcoin .........


All images used in this blog are collected from byteball.org


Tags : Byteball, Cryptocurrency, Money, Video, Youtube, Bitcoin, Tutorials, 

This Post Was Published On My Steemit Blog. Please, navigate to steemit and cast a free upvote to help me if you like my post. First Time heard about Steemit ? Click Here To Know Everything About Steemit 







Comments

Popular Posts (Last 7 Days)

What I Learnt Today : 10 Unknown Amazing Facts About Animals - Part CXXXIII

  image credit (1) Japanese Macaques make snowballs for fun. (2) The chevrotain is an animal that looks like a tiny deer with fangs. (3) Turritopsis nutricula Immortal jellyfish is the only species known to live forever. (4) One million stray dogs and 500,000 stray cats live in New York City metropolitan area. Turritopsis nutricula Immortal jellyfish   image credit (5) Nine-banded armadillos always give birth to identical quadruplets. (6) The flying frog uses flaps of skin between its toes to glide. (7) It takes a sloth two weeks to digest its food.   Nine-banded armadillo   flying frogs   image credit (8) A narwhal tusk is actually an exaggerated front left tooth, and unlike most teeth, it's soft and sensitive on the outside with a tough interior. (9) Humpback whales create the loudest sound of any living creature. (10) The slowest mammal on earth is the tree sloth. It only moves at a speed of 6 feet (1.83 meters) per minute. sloth narwhal tusk   i

Earn Bitcoin by playing free fun games (non gambling)

To earn bitcoin by playing free games is very exciting. Here I give a list of all games I searched on Google. 1.  SatoshiQuiz  :SatoshiQuiz is a quiz website where users win bitcoin for correctly answering questions from various categories.. You can earn 100 to 1000 satoshi per winning quiz.  Try the new android app and get 5000 satoshis.  Download   Min withdrawal amount is 11000 satoshis & Processed once every week on Sunday.1000 satoshi fees deducted per withdrawal to prevent abuse. Premium account fees is 100000 satoshis per month.   2.  Bitcoin Riddles  :Solve riddles presented in YouTube videos and if you are the first to get the correct answer you win a prize in BTC! Minimum withdrawal is 100 bits. After signup you will get free 10 bits.  3.  Sparkprofit  : Spark Profit aims to be the world's most rewarding app! It teaches you how to profitably trade on the financial markets, and pays you cash rewards when you do well. Platform : Windows, Mac, Android &

My Original Abstract Art - “sunless flower garden”

My Original Abstract Art “Sunless Flower Garden” enjoy :) Tags : Abstract, Art, Drawing, Painting,  This Post Was Published On My Steemit Blog . Please, navigate to steemit and cast a free upvote to help me if you like my post. First Time heard about Steemit ? Click Here To Know Everything About Steemit  $3 Donation [Fixed] Donate $Any Amount

Road To My Village Home - VI

Tags : India, Nature, Photography, Travel, Landscape photography, Flowers & Plants photography,  This Post Was Published On My Steemit Blog . Please, navigate to steemit and cast a free upvote to help me if you like my post. First Time heard about Steemit ? Click Here To Know Everything About Steemit  $3 Donation [Fixed] Donate $Any Amount

What I Learnt Today : Some Unknown Amazing Facts About Dogs

What I Learnt Today : Some Unknown Amazing Facts About Dogs Dogs curl up in a ball when they sleep and this instinct help them to keep themselves warm and to protect vital organs while they sleep. Always Dog’s nose remains wet because it helps to absorb scent chemicals. At the point when dogs poop, they like to do it in alignment with the Earth’s magnetic field. Dogs’ smell power is 10K to 10 million times stronger than humans. Dogs may get jealous if they see their master showing affection toward something or another person/dog. Dogs are not colorblind, they can see various shades of black, white, blue & yellow. Some Dogs can alert diabetic patient when their sugar level drops very low. Trained Dogs can detect cancer in its early stages. Dogs only have sweat glands under their feet. Dogs have at least 18 muscles in each ear. Dogs have an excellent eye-vision during night than humans. Dog’s hearing ability is 10 times stronger than humans. Also they can

I love GREEN [My Original Work] - XII

I love green, I love tree, I love nature --- [Series XII]    Tags : Nature, Photography, Landscape photography, Flowers & Plants photography,  This Post Was Published On My Steemit Blog . Please, navigate to steemit and cast a free upvote to help me if you like my post. First Time heard about Steemit ? Click Here To Know Everything About Steemit  $3 Donation [Fixed] Donate $Any Amount

ALERT ! Hacker is now trying to sell bitcointalk.org users hacked login credentials on darkweb

Another alarming news!!! [ image source & credit ] Same hacker who selling over 60 million hacked Dropbox users login credentials, is now trying to sell bitcointalk.org hacked database !!! In May 2015 bitcointalk.org database was hacked but, no hacked data was leaked. Now, on the 3rd September, 2016 an unknown hacker is trying to sell this leaked database on the dark marketplace.  A couple of hours ago this hacker also set an sell order of over 60 million Dropbox users login credentials on the dark market. About 514.408 bitcointalk.org accounts data such as username, email address, date of birth and password was hacked and now set for sell on the dark market. About  469,540  passwords are encrypted with SHA-256 & about  44,868  passwords are encrypted with SMF password encryption.  So, Please,   Change Your Bitcointalk.org Password Immediately !!!    Source of this news :   https://www.hackread.com/hacked-bitcointalk-forum-database-on-dark-web/ This hacker al

I love GREEN [My Original Work] - XXIV

I love green, I love tree, I love nature — [Series XXIV] : Green in Town see also previous post of this series :  [Series XXIII] . sky covered with green . green yard   Tags : Nature, Photography, Landscape photography, Flowers & Plants photography,  This Post Was Published On My Steemit Blog . Please, navigate to steemit and cast a free upvote to help me if you like my post. First Time heard about Steemit ? Click Here To Know Everything About Steemit  $3 Donation [Fixed] Donate $Any Amount

holi - the festival of colours & the festival of sharing love [An Original Abstract Art] - #02

Here I share my latest work on Abstract Art -- [ Series #02 ] holi -   the festival of colours & the festival of sharing love  Tags : Abstract, Art, Drawing, Painting,  This Post Was Published On My Steemit Blog . Please, navigate to steemit and cast a free upvote to help me if you like my post. First Time heard about Steemit ? Click Here To Know Everything About Steemit  $3 Donation [Fixed] Donate $Any Amount

Half Dozen Steem Meme / The Steem Meme Project

At first I give a special thanks to  @benjojo  who is the best steem meme creator here. I love his meme collections & have not yet missed any single meme post from him. However, I’ve just created a half dozen steem meme and want to share with my steemit friends here — I love animals , so, I used animals in all my meme. meme 1- meme 2 - meme 3 - meme 4 - meme 5 - meme 6 - This is my first steem meme post. I hope you’ll enjoy ….. :) Tags : Funny, Meme, Social Networks, Steemit,  This Post Was Published On My Steemit Blog . Please, navigate to steemit and cast a free upvote to help me if you like my post. First Time heard about Steemit ? Click Here To Know Everything About Steemit  $3 Donation [Fixed] Donate $Any Amount
Back to Top