February 26, 2021

How to buy ByteBall Bytes (GBYTE)

byteball

Mainly from its impressive method of recording web information, Blockchain technology has always been considered one of the most important digital breakthroughs to date. However, the use of such carries discrepancies that compromise its adoption and usage. With an end goal of eradicating the setbacks that Blockchain entails, ByteBall was developed. With its forward and cutting-edge technologies, data connection and verification were revolutionized.
Far from Bitcoin’s usual process of linking blocks to another linear chain, Byteball’s archiving process uses multiple previous data transactions to connect new information to its database. With this structure, the lodged transactions then form a pattern called DAG (Directed Acylic Graph). To note, this pattern allows unyielding storage for any type of data, but the most laudable advantage that this feature carries is its highly flexible and payment system. Commendable enough, this does not require users any deep technical know-how since the system enables an easy experience in creating and organizing smart contracts.

DAG: Explained

By copying one or several hashes from previous balls, GBYTE’s storage units create a strong linkage with one another. In the same manner, transactions are also linked by signing the hashes of existing transactions to a new one. This continuum does not only establish a consistent method of data confirmation, it also creates a partial order in which the storage balls can be referred to. More so, ByteBalls are devoid of block size failures as it does not utilize the same technology as Bitcoin.
There are several advantages that data linkage carries. For one, DAG allows rapid confirmation of data since it does not rely on miners to do the verification process. It also renders definite calculations which, unlike Bitcoin, determine the number of confirmations without going through probability assessment. Lastly, users are not daunted with high energy burdens since it only requires minimal energy to keep its network working.

ByteBall Salient Features

What set ByteBall apart from other blockchain competitors in the market are the advantages it carries. These are:

  • Wide Selection of Asset Classes- The system functions as both storage and a mean to transfer values of different asset classes including fiat currencies, bonds, shares, and commodities.
  • Intensive Level of Security- The use of GBYTE is impressively anonymous and highly secured as it automatically sends payments and messages without any trace
  • Free Distribution- Many newly-developed cryptocurrencies were then introduced through Initial Coin Offering for profit. With GBYTE, this was not the case as the team behind it decided to dispose large portions of its supply for free.
  • Situation-Based Payments- Means of payments are not definite since GBYTE only executes risk-free payments when the criteria for the smart contracts are fulfilled.
  • P2P Insurance and Betting- GBYTE put so much emphasis on how its users will interact without any interference. With this goal in mind, GBYTE introduced customizable peer-to-peer smart payments. With this kind of setup, users are provided with a transparent avenue for betting and selling insurance.

Issues with ByteBall

While the cryptocurrency trading community lauds several features made available to ByteBall users, it simply cannot escape the criticism of some.
Several users, while quick to foreground that they have taken a liking to the blockchain, pointed out that it does have a couple of shortcomings. One user cited that he was simply turned off by the fact that GBYTE, like other cryptocurrency tokens out there, lacks the capability of using fiat for it. Despite this not being exclusive for GBYTE, the fact of the matter is, the expectations are high for the cryptocurrency given that it has positioned itself to be used for a myriad of uses such as paying for air travel and sports betting.
Another thing that some users took issue with is ByteBall offers’ costs. It could be cheaper given the niche that it is trying to establish its clout on. And the features that are being paid for are not that efficient either as some would suggest. One of the offerings that were highlighted in forums is the sports betting service. The problem lies when the user places a bet against the bot–the resulting quotes are not at par with its commercial counterparts. This is defeating as, a user raises, no middlemen need not meddle with the affairs of the one who bets. With the quotes not being up to par, the blockchain’s aim of charging lesser costs is defeated.
The third criticism that ByteBall had received from the online community is that some of its features are challenging to use. For instance, the peer-to-peer sports betting is an entirely complicated affair in that a player would still have to connect with other players through Whatsapp. Once this is done, the user will have to chat with them so as to have them send their wallet address. Afterward, the user would be compelled to go through numerous processes which involve inquiries of things that are not necessarily common knowledge and entirely private. As a user had put it, the process had been “cumbersome”.
The last issue that certain users raised was the difficulty of having to navigate through ByteBall’s user interface. For someone who would want to take peer-to-peer betting, one could note that the interface is not at all intuitive to navigate through.

Conclusion

Directed Acyclic graph

What was initially working as a five-man team, Byteball has grown and expanded since it was first introduced to the market. The founder, Anton Churyumov, utilized his executive experience in tech to revolutionize the existing Blockchain trend; thus GBYTE was developed. With GBYTE’s intelligent way of connecting data into Directed Acyclic Graph, the usual problems that Blockchains encountered were then reduced. More impressively, the use of its flexible and versatile payment conditions, Byteball has secured its name as one of the leading providers of smart contracts.
However, for ByteBall to completely reach its potential in the market, it must address the issues on costs and end user experience. Mind you, these might easily be chalked up as individual preference. But then, if a user raises a concern that pertains to functionality that had compromised his or her experience, then it should be addressed and duly resolved.