Byteball (token — GBYTE) is a DAG-based decentralized cryptocurrency system — without blockchain and mining, but with fast and fixed transactions that can be either hidden or confirmed through a third party.
The Byteball team aims to solve Bitcoin’s problems. The coins are distributed for free, but only to BTC owners who have verified their wallet on the Byteball network.
Why free? Developer Anton Churyumov refers to Metcalfe’s law, where the capitalization of Bitcoin depends on the number of active users. Thus, to become popular, Byteball must be owned by as many people as possible.
In addition to bytes (the system unit), the user also receives “dark bytes” — tokens for private payments that cannot be traced. The full information is transmitted to the recipient from the payer directly and is not registered in a public database.