Byteball Interview (Part 2): Technical Strengths, Blackbytes, Distribution Rounds and Cashback System
Part 2 of the interview with CryptKeeper, the Community Manager of Byteball. The second part of the interview deals with the technical strengths of Byteball, the blackbytes, the upcoming distribution rounds and the cashback system. The first part can be found here: Byteball Interview (Part 1)
In a more general way, what are the technical strengths or even the technical superiority compared to other cryptocurrencies?
Let me summarize the key features:
• use of the innovative DAG technology: no blocks, no miners, no POW, no POS, no limitation of the number of transactions
• user-friendly wallets on all platforms
• multi-signature support
• smart contracts can bind transactions to conditions. This is similar to Ethereum. The advantage of Byteball is its simple operation, as the creation of a ‘Smart Payments’ is done directly within the wallet
• dialogue-based interaction via chatbots for airdrops, GB/BTC exchange, sports betting, insurance against flight delays and much more
• oracles for feeding data into the chain, e.g. BTC rates, sports results or flight data
• generation of assets with defined properties, such as private blackbytes
• Blackbytes provide private, untraceable value transfers (such as cash)
• encrypted chat between wallet users
Although other cryptocurrencies cover parts of these functions, the complete range combined with the user-friendliness of the wallet is unique!
What developments will there be in the area of the completely anonymous Blackbytes?
There’s not much I can say about that. The chief developer is extremely tight with information about coming features, as you can see from the fact that there is no roadmap for Byteball. Many users have asked for Blackbytes to be added to exchanges (such as Bittrex). Tony refused to do so because he sees this as a concentration of user data that would undermine the private nature of Blackbytes. Nevertheless, there are now two portals for Blackbyte trading: BEEP (http://www.beeb-bot.com/) and Freebe (http://freebe.byte-ball.com/). The two exchanges are operated by independent Byteball developers. So you can see that there are already independent community developments here. No longer is everything in the hands of the Byteball team.
Byteball does not use a detailed roadmap because it is preferable to deliver finished and tested software when it is finished and tested. What are further developments currently worked on?
Even without a roadmap, I can safely predict the imminent implementation of human-readable asset identifiers in the wallet. There was already a lively exchange between Tony and third-party developers in our slack and the technical specification has already been completed. Since the start of the Titancoin ICO it is urgently needed because the identification via the hash value is very impractical.
Our chief developer Tony has just put an ICO chatbot for Titancoin in the bot store — without making any hint beforehand. He is an outstanding developer and always good for surprises.
For end users, a light wallet on the mobile phone is always practical. For Android such a wallet is already available. There is currently no Byteball wallet in Apple’s official AppStore. Are you working on an iOS wallet?
The wallet for iOS is available from the very beginning and is also used by some users on iPhones. Unfortunately, the requirement is an Apple developer license, so that you can install the app — only on your own device. Apple’s restrictive admission policy has so far prevented the Byteball wallet from being included in the AppStore. But we’re still at it!
Only half of all bytes are currently distributed. Since you get additional bytes for owning bytes during the distribution rounds, you get about 50% of your stock for free due to compound interest. I know that no exact statement is made, but will the number of distributions be maintained, i.e. approx. 4–5 further distribution rounds, where you get 10% bytes each and in addition the double amount of Blackbytes again?
Probably not. After the payout rate for Bitcoin holders has already been cut down and the airdrop for October suspended, Tony recently cancelled the December airdrop. More detailed information will be announced in mid-November. I think that the distribution of coins will continue but in other ways. With the Byteball Cashback Program, there is already an alternative way to get free bytes.
Currently, bytes are only traded on smaller exchanges such as Cryptox (european exchange, tested by me personally: problem-free deposit and withdrawal possible) or Bittrex. Is this due to the fact that not all bytes are distributed yet and can it be that if all bytes are distributed soon and the ecosystem is fully functional, more exchanges will follow and therefore more trading will take place? Are there any specific statements about this from other crypto exchanges?
With Bittrex (https://bittrex.com/Market/Index?MarketName=BTC-GBYTE) we have one of the most efficient crypto exchanges at all and are very happy about it. To Cryptox (https://cryptox.pl/) one can say that this small and fine stock exchange even passes on the received airdrop bytes to its customers. For the sake of completeness: Byteball is also traded on Cryptopia (https://www.cryptopia.co.nz/Exchange?market=GBYTE_BTC). With CryptochangeX (https://cryptochangex.com/markets/gbytebtc) a London stock exchange has just opened, which has also listed bytes. Soon, even trading against Fiat will be possible! As far as I know, there are no actual statements from other exchanges to list Byteball.
The BTCGERMANY.de advertising customer “Anycoin direct” has paid its complete annual booking with bytes within the Byteball Cashback Program and thus received 20% of the booking price reimbursed. Are there other partnerships that use the cashback program on a larger scale?
This booking was actually the biggest in the cashback program so far. Other cashback partners tend to have a constant flow of many smaller transactions.
(English translation of https://www.btcgermany.de/byteball-blackbytes-cashback/)
Update: in January 2019, the project rebranded to Obyte: https://medium.com/obyte/byteball-rebrand-the-next-step-to-real-world-adoption-6a0a924390de
