Review on Obyte by Pedro O. Alvino M.
A project to observe
The Byteball network was launched in December 2016 by founder and chief developer Tony Churyumoff. At the same time, the first distribution of GBYTE coins was produced. Instead of using blockchain, which is something other than other types of launches, so Byteball stores and orders transactions using a Distributed Acyclic Graph (DAG) that links storage units to each other.
Like other common cryptocurrencies, such as Bitcoin and Ethereum, Byteball allows you to execute a payment specifying the address of the recipient's wallet and the amount you wish to send. However, a key difference is that Byteball makes it possible to send conditional payments, however, despite being launched in 2016, it had little performance since the position of the native token is at number 257, and it is still in few exchanges. which makes it less possible to use the Platform.
Pros
- Decentralized platform that allows tamper-proof data storage
- Built through DAG technology
- It allows sending conditional payments; in other words, the person to whom GBYTE is sent will only receive the funds once they have fulfilled the conditions that you specify as part of the contract
- It allows private payments to be made using Blackbytes, which are described on the official Byteball site as an impossible to track currency whose transactions are not visible in the public database.
Cons
- Your native currency is limited in a few exchanges
- The price of the currency may be undervalued
