Obyte (GBYTE)

Obyte (GBYTE) is a cryptocurrency, formerly known as Byteball, designed for secure financial transactions without the need for intermediaries. It was founded by the Russian entrepreneur Sergey Ivancheglo in 2016. The team behind Obyte wants to make it the premier blockchain platform for distributed applications. By eliminating intermediaries in transactions, they aim to reduce third party fees and provide more security. Obyte transactions are also near-instant, which makes it a great solution for day-to-day transactions. Obyte uses a distributed ledger technology called directed acyclic graph (DAG) instead of a traditional blockchain. DAG does away with blocks and miners in favor of wallets that act as independent nodes of the network. These nodes process transactions without the need for a third party and each wallet acts as a check and balance for the others. This makes Obyte a great solution for charging low transaction fees. Unlike many other cryptocurrencies, Obyte has no native tokens. This means you can use the platform to store and transact any kind of asset. This includes regular currency but also items such as stocks and real estate. To use the platform, you will need to download the Obyte wallet. Once the wallet is installed, you'll be able to purchase GBYTE (Obyte's native cryptocurrency) on cryptocurrency exchanges. The Obyte wallet uses a process called attestation to facilitate trust in your transactions. This involves proving your identity to the other party via real world data. Once you have GBYTE, you can use it to transact with other users of the Obyte platform. This includes buying and trading assets, sending money, and purchasing goods and services. Obyte has a number of advantages over traditional fiat currencies. It is faster and more secure than banks, and has lower transaction fees since it does not require a third party. It also allows you to send and receive payments or assets anywhere in the world with little or no delay. You can purchase GBYTE from a number of popular exchanges, including Bittrex, HitBTC, CryptoBridge, and ChangeNOW. It is also available for purchase on LocalBitcoins, where users can trade peer-to-peer. Obyte is a unique cryptocurrency that provides users with secure and near-instant transactions with low fees. It also offers a great platform for a wide range of use cases - from buying and selling assets to day-to-day financial transactions. With its innovative technical features and strong team behind it, Obyte is sure to become a major force in the cryptocurrency world.