[Crypto projects](https://revain.org/projects/) › Obyte

# 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

## Key facts

- **Ticker**: GBYTE
- **Official site**: [obyte.org](https://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](https://defillama.com/hacks), [hacked.slowmist.io/search](https://hacked.slowmist.io/search/), [rekt.news/leaderboard](https://rekt.news/leaderboard/), [obyte.org/faq](https://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](https://obyte.org/)
- Whitepaper: [obyte.org/Byteball.pdf](https://obyte.org/Byteball.pdf)
- Source code: [github.com/byteball](https://github.com/byteball)
- Blog: [blog.obyte.org](https://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](https://obyte.org/)
- [Obyte — FAQ](https://obyte.org/faq)
- [Obyte — Technology](https://obyte.org/technology)
- [Obyte — Distribution](https://obyte.org/distribution)
- [Obyte — Tokens](https://obyte.org/platform/tokens)
- [Obyte — Autonomous Agents](https://obyte.org/platform/autonomous-agents)
- [Obyte — Blackbytes](https://obyte.org/platform/blackbytes)
- [Obyte — Obyte Foundation (legal)](https://obyte.org/legal)
- [GitHub — byteball/ocore](https://github.com/byteball/ocore)
- [Obyte blog — Byteball Rebrand (17 January 2019)](https://blog.obyte.org/byteball-rebrand-the-next-step-to-real-world-adoption-6a0a924390de)

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Page updated: 2026-11-01

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Source: https://revain.org/projects/obyte/