Byteball and Its Development in 2018

Feb 10, 2018 at 10:59 // News
Guest Author
Byteball and its development

In recent weeks, we have witnessed a high amount of rush selling throughout the crypto sector, be it in Bitcoin, Ethereum and every other cryptocurrency. This sell off affected the entire sector and the value of cryptocurrencies dropped by 70-90% of their maximum value.

This rush selling offers new opportunities for investors who have only just discovered cryptocurrencies and for those who were unwilling to buy cryptocurrencies for a high price. In recent weeks, currencies using DAG technology instead of the classic blockchain have earned their deserved attention. One of these currencies is Byteball, which boasts some very interesting features.

Byteball is one of the few currencies that does not go through rapid ups and downs as we can see in other coins. It has a very strong user base and thanks to this its growth is gradual but stable. It allows users to create bets of all kinds (such as on a flight delay or the weather) using the smart contracts with conditionals. All public assets are able to be sent as textcoins, not just Bytes. It also provides private payments in the form of a secondary Blackbytes currency.

These are just a few of the interesting and useful features that Byteball contains. In short, we could say that the Byteball concept is based on simplicity and seeks to allow the general public access to the world of cryptography. A team of persistent developers, headed by Tony Churyumoff, are working on the project.

Since the start of 2018, the Byteball team have been successfully raising awareness of this lesser-known cryptocurrency. One of the first proofs of success comes from the recently signed partnership with CONNAX.

CONNAX, which is currently developing its IoT solution with its partners Microsoft Azure IoT Hub, Circular Devices and iLEDea, provides a reliable technology platform which enables secure mass deployment and configuration of connected devices. The generated private key on the Byteball DAG platform will remain within the trusted area of secure microcontroller and will never leave the security contour.

All mathematical operations will be performed within this trusted environment. СONNAX’s CEO Alex Cohen says: “The partnership represents a step up – industrial application of DAG technology.”

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