Review on Obyte by francis fernandez
Obyte: a platform for asset management based on the DAO system
Obyte is a platform that operates a digital currency through the application of acyclic Directed Graphs (DAG) that are compatible with decentralized applications to allow the exchange of assets; through a free distributed ledger.
Token:
Gbytes tokens allow network operations to be carried out and can be traded in the platform's native wallet without the need to resort to other external exchanges.
Technology:
Obyte is a pioneer project in the use of DAG technology in the cryptocurrency industry.
DAGs are mathematical and computer algorithms aimed at the development of distributed systems and networks with similarities in operation with respect to that implemented by blockchains.
Within the Obyte platform infrastructure the function of DAGs is to join vertices to build an immutable history to create a relationship known as edges instead of blocks.
This network works without the intermediation of miners due to the absence of blocks; reason for which it has greater decentralization, low cost and open source.
The use of DAGs in the network supports reliable and freely accessible decentralized applications due to the absence of miners. For this they rely on the Onscript protocol that creates barriers against unreliable programming languages usually used by blockchains.
The Obyte network also offers privacy to its cryptocurrencies and applies an ideal fingerprint system for the Internet of Things technology to allow the sending of digital assets through the use of email and text currencies.
Cryptocurrency purchase:
The currency can be acquired in exchanges using credit cards and bank transfers as a form of payment.
Pros
- It is a decentralized platform.
- Offers digital currencies without the possibility of trace risk
- Allows you to send digital currencies through emails using text currencies.
- The network supports smart applications.
Cons
- The cryptocurrency has low value in the market today.
