The next generation cryptocurrency platform, Byteball will soon embark on the next round of token distribution. The second round, scheduled for the next full moon, i.e. February 11, 2017, at 00:33 (UTC) follows the first free bytes token offering held on Christmas Day 2016. Like the earlier launch-day giveaway, the Bitcoin community along with existing bytes holders stand to benefit from the upcoming distribution round.
During the platform’s launch on December 25, 2016, Byteball offered bytes (native currency) and blackbytes (an untraceable private currency) for free to the Bitcoin community, proportional to their BTC holdings. The exercise saw over 70,000 BTCs linked to the distribution.
Similarly, the second round of free distribution will be proportional to bytes and bitcoin holdings of the cryptocurrency community. The platform will be offering 0.1 gigabytes (GB) for every GB, and 0.0625 GB for each BTC held by the eligible community members.
“In the new distribution, 1 GB holding receives the same share as 1.6 BTC. 1 GB is currently traded at 0.05 BTC.”
Byteball stands apart from other cryptocurrency offerings by adopting Directed Acyclic Graph (DAG), an alternative to blockchain technology. It allows the platform to avoid scalability issues like the ones currently faced by the Bitcoin network.
Byteball is a cryptocurrency platform that aims to give people greater control over their funds through ease of use and user readable smart contracts. The ecosystem includes cryptocurrency wallets, a bot supported marketplace, a private untraceable currency, and more. It also integrates payments with an encrypted chat e.g. a recently launched trading chatbot allows people to exchange BTC to bytes and vice versa.
Byteball has a maximum cap of 10^15 bytes, out of which 99% are to be distributed in multiple rounds.
Byteball is an initiative of a Moscow, Russia-based development team. The innovative cryptocurrency uses DAG protocol instead of the conventional blockchain, eliminating scaling issues. Byteball is a complete cryptocurrency ecosystem launched on Christmas day, 2016.