Obyte (GBYTE), formerly Byteball, is a cryptocurrency made by Tony Churyumoff in 2016. It is a DAG-based (Distributed Acyclic Graph) cryptocurrency platform that features a number of fully functional use cases.
Unlike blockchain technology, Obyte’s DAG-based technology stores and orders transactions using a Distributed Acyclic Graph (DAG), which links storage units to one another. This removes scalability limitations commonly found on blockchains and allows users to secure each others data by referencing earlier data units created by other users. With Obyte there are no blocks, there are only transactions.
The Obyte cryptocurrency platform is very complex and offers multiple viable features that are already released and working for everyday users today. For instance, Obyte offers users an ICO platform that supports the compliant sale of security tokens. The platform features optional KYC verification, real-time statistics, and supports Bytes, BTC and ETH. Obyte also supports smart contract and dapp development and has a marketplace similar to the Apple App Store and Google Play Store. The Obyte platform also features risk-free conditional smart payments, live prediction markets and P2P betting for betting on price movements, sports, and insurance. The platform also supports textcoins, which is the ability to send the Obyte cryptocurrency via email or chat. This feature enables P2P payments in the chat app just by clicking the links. Another feature is the secure storage of your identification in the Obyte wallet.
The total supply of the Obyte (GBYTE) cryptocurrency is 1,000,000 GBYTE and the circulating supply is 703,558 GBYTE. 64.5% of the total GBYTE supply has been distributed through 10 distribution rounds and the rest of the tokens are reserved by the Obyte team for funding and further distribution.