What is an Obyte? Obyte (GBYTE), formerly known as Byteball, is a blockchain-powered cryptocurrency based on DAG technology. Koindeks.com In this article, we will examine Obyte. However, we will answer questions such as what is Obyte, what it offers, what is GBYTE coin, what is it for, how to get it, which is the subject of curiosity among users. Let’s examine this DAG-based cryptocurrency together.
What is an Obyte?
Launched on December 25, 2016, Obyte is a multi-chain cryptocurrency powered by a DAG-based Blockchain. Networks using DAG technology have a number of advantages over classical Blockchain networks. Accordingly, DAGs enable users to process in a fully decentralized environment. In addition, they work without intermediaries, free of charge, equally and openly. The team behind Obyte aims to stay ahead of its competitors with this technology.
In central ledgers, there is a single gatekeeper who decides which processes enter the ledger. However, the Obyte network has a decentralized DAG ledger. This Blockchain architecture makes gatekeepers decentralized. Accordingly, gatekeepers can be a random user in a random part of the world. Users who want to join the network with this goal have the opportunity to earn income. Obyte’s gatekeepers earn rewards in cryptocurrency for their contributions.
What does Obyte offer?
Obyte, located in Ethereum, BNB Chain and Polygon networks, has a multi-chain structure. In other words, users can easily transfer assets from the aforementioned Blockchain networks. However, Obyte’s architecture also relies on developers to produce their own applications. There are many decentralized applications available on the platform. One of them is the Bonded Stablecoins platform, which allows users to create stablecoins as they wish.
In addition to these, the platform also has its own decentralized exchange (DEX). With this DEX, users can trade assets and access a variety of investment instruments. It is also possible for them to benefit from an AMM named Oswap on the exchange. The ecosystem is also home to the project funding platform, ICO launchpad, market claims app, conditional payments and P2P insurance.
What is GBYTE? What’s the use?
GBYTE is one of two cryptocurrencies in the Obyte ecosystem. It is basically a token built on smart contracts ERC-20, BEP-20 and Polygon. Obyte’s other cryptocurrency is Byte. Byte is used for targets to pay process prices. However, GBYTE is a Byte-indexed currency traded on exchanges. 1 GBYTE in the market is equal to 1 billion Bytes. While the byte is the smallest indivisible currency, GBYTE is more suitable for the most common metrics.
What is an Obyte? How to take GBYTE?
It trades on GBYTE, Bittrex, Finexbox and QuickSwap exchanges. Interested investors must gain access to these exchanges to purchase the token.