Immutable storage – Once stored in the Byteball database, the data can neither be revised nor removed. Bot Store – Easily discover and add new chatbots via the built-in Bot Store. Developers have instant access to all users by publishing their chatbot https://www.tokenexus.com/gbyte/ on the Bot Store. P2P payments in chat – Chat and pay in the same app just by clicking links. Any attempt to rewrite anything contained in the chain would therefore require even larger computing resources than those that have already been expended.
- The user must find their counterpart in the #prediction_markets Slack channel and create a contract with them.
- When a contract is created on Byteball platform, it can be trusted to work exactly as agreed upon.
- Bot Store – Easily discover and add new chatbots via the built-in Bot Store.
- Users can talk to merchant chatbots on Byteball’s platform to purchase goods and services, and pay in just two clicks.
- In the past, the team has distributed Bytes and Blackbytes for free to BTC holders and to existing holders of Bytes who have linked their accounts.
However, with ByteBall, you have the opportunity to create simple conditional payments that will only verify the final transactions once these have gone through. In technical terms, you will be “binding” the payment to a specific condition. Smart contracts are created and interacted with by messaging different chatbots from Bot Store. Interacting with smart contracts is as simple as answering a few questions from a helpful chatbot. Transactions are their own blocks and don’t have to connect in a straight chain; They’re linked to multiple previous transactions and form a structure called a DAG (directed acyclic graph). As you might have understood by now, Byteball doesn’t use any blocks or blockchain.
Enter your crypto wallet address
Let’s say your bitcoin receive address is 1MJ7xew1X13okNYKRu7qA3uN4hpRH1Tfpq. The buyer sends you in wallet chat his Byteball receive address, say “5GU…”. Users can talk to merchant chatbots on Byteball’s platform to purchase goods and services, and pay in just two clicks. It’s easy to discover what chatbots are available for you via Byteball’s built-in Bot Store.
If the condition has not been met by the other party then your bytes are sent back to your wallet. This is all done in a direct Peer-to-Peer fashion and there are no intermediaries. You can read the exact requirements on the Byteball application.
Distribution to BTC Holders
Exchanges and other services are also easy to use in conversational interface. Transactions in bytes (the base currency) in Byteball are equally visible, but there is a second currency (blackbytes), which is significantly less traceable. Bitcoin was designed as an anonymous currency where people have absolute control over their money. That goal was achieved; however, it made 4 Bitcoin incompatible with existing regulations, and hence inappropriate for use in the financial industry.
If that wasn’t impressive enough, Churyumov owns SMS Traffic, a Russian technology company that offers solutions and marketing for banks, insurance, and retail firms. Attending Moscow Engineering Physics Institue from 1991 to 1997, Churyumov received his degree in Theoretical Physics. In the past, the team has distributed Bytes and Blackbytes for free to BTC holders and to existing holders of Bytes who have linked their accounts.
Byte-BTC Exchange
Highly correlated to its BTC price for the most of last year, Byteball’s USD price has recently diverged dramatically from it. One possible explanation for this temporary separation includes the projects unusually high amount of announcements and platform updates that it has released over the last several months. Byteball is an excellent way of exchanging currency through a DAG graph.
In addition to payment for storage fees, you can pay Bytes directly to other users for goods or services. To solve the problem of privacy, Byteball uses blackbytes. Blackbytes uses secured transactions improving the privacy of the transactions. If you use a card on Coinbase, your fees will be higher, but your purchases will be instant. It is cheaper to use bank transfers, but it is slow – it can take up to a week to get your coins.