Obyte (GBYTE): how it works, supply and reviews
In short
- Type
- DAG-based ledger, not a blockchain; there are no miners or block producers
- Maximum supply
- 1 million GBYTE (10^15 Bytes), all created in the genesis unit
- Risks and caveats
- Wallets must keep an Order Provider list close to their hub's list, or light wallets may fail to send transactions.
- Checked
- 1 November 2026
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Key facts
- Ticker
- GBYTE
- Official site
- obyte.org
Key facts checked on 1 November 2026 against official sources.
What is Obyte
Obyte (formerly Byteball) is a cryptocurrency network built on a DAG (directed acyclic graph) instead of a blockchain, with no miners. Its native currency is the Byte, traded as GBYTE. The mainnet launched on 25 December 2016.
Network and consensus
| Parameter | Details |
|---|---|
| Type | DAG-based ledger, not a blockchain; there are no miners or block producers |
| Consensus | Order Providers (formerly called witnesses) post transactions regularly so full nodes can agree on transaction order |
| Launched | Mainnet launched on 25 December 2016 |
| Block time | Finality is deterministic; a transaction can take up to about 30 minutes to become stable at low traffic |
| Smart contracts | Autonomous Agents: rule-based programs that run on the DAG and hold assets |
| Programming language | Tokens are native assets handled by the core protocol |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 1 million GBYTE (10^15 Bytes), all created in the genesis unit |
| Issuance | No mining or staking issuance |
| Initial distribution | 99% of Bytes and Blackbytes to be given away free; 1% reserved for the founder |
| Fee burn | Fee equals the transaction size in bytes (about 800 Bytes for a typical payment) |
What GBYTE is used for
- Bytes pay transaction fees: 1 Byte of fee for each byte of data added to the ledger.
- 1 GBYTE equals 1 billion Bytes; GBYTE is the unit traded on exchanges.
- Blackbytes are a separate privacy currency on Obyte whose amounts and recipients are not shown on the public ledger.
- Bridged GBYTE exists as ERC-20 tokens on Ethereum and other chains.
Who develops and governs Obyte
- Founders
- Founded and developed by Anton (Tony) Churyumov
- Foundation
- Obyte Foundation, a charitable foundation registered in Liechtenstein (formerly Byteball Foundation)
- Governance
- The Foundation is run by a three-member Foundation Council
- Legal entity
- The Foundation is funded mainly from undistributed Bytes donated by the founder
- Open source
- Core library ocore is open source under the MIT licence
History
| Date | Event |
|---|---|
| 25 December 2016 | Mainnet launches as Byteball. |
| August 2017 | The free BTC-holder airdrop is judged not to bring real adoption; new distribution methods start. |
| 17 January 2019 | Byteball is renamed Obyte. |
| March 2021 | 770,677 GBYTE (77.07% of supply) have been distributed. |
Security and audits
- Obyte states it has deterministic finality: a stable transaction cannot become unstable again.
- Obyte says no transaction can be changed or censored by Order Providers once it enters the ledger.
Security incidents
No security incident is recorded in the sources checked on 1 November 2026 (the company’s own channels and incident databases): defillama.com/hacks, hacked.slowmist.io/search, rekt.news/leaderboard, obyte.org/faq
Risks and caveats
- Wallets must keep an Order Provider list close to their hub's list, or light wallets may fail to send transactions.
- A transaction can take up to about 30 minutes to become final when traffic is low.
- Undistributed Bytes are held and spent by the Obyte Foundation, funded by the founder's donation.
Official links
- Website: obyte.org
- Whitepaper: obyte.org/Byteball.pdf
- Source code: github.com/byteball
- Blog: blog.obyte.org
Questions and answers
What is Obyte (Byteball)?
Obyte, formerly Byteball, is a DAG-based cryptocurrency network without miners; its currency is the Byte, traded as GBYTE.
Who created Obyte?
Anton (Tony) Churyumov founded and developed Obyte; the Obyte Foundation in Liechtenstein distributes undistributed Bytes.
What is the total supply of GBYTE?
1 million GBYTE, all created in the genesis unit; Bytes cannot be mined or staked.
When did Byteball become Obyte?
Byteball announced its new name, Obyte, on 17 January 2019.
Sources
- Obyte — Home
- Obyte — FAQ
- Obyte — Technology
- Obyte — Distribution
- Obyte — Tokens
- Obyte — Autonomous Agents
- Obyte — Blackbytes
- Obyte — Obyte Foundation (legal)
- GitHub — byteball/ocore
- Obyte blog — Byteball Rebrand (17 January 2019)
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