In the last week, we have witnessed a calming in the crypto world. The value of individual coins has slowly grown. Investors are beginning to look for new opportunities, one of those interesting coins is Byteball, a currency based on DAG (directed acyclic graph). The system is different from blockchain‘s mining coin creation. In DAG, each subsequent transaction in the system contains data to solve the previous one.
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Recently, we have seen the steep growth of the price of XRB (Raiblocks), which has been renamed to Nano and similarly, the second most well known DAG coin, called IOTA, has also passed steep growth . Byteball differs greatly from these other DAG currencies. Byteball distributed their initial “Bytes” back in 2016 via cashback partnerships with merchants and by distributing certain amounts depending on the BTC total in an account. This approach was unique in contrast to the industry standard, creating an ICO.
The team around the founder Tony Churyumoff is constantly active and puts great emphasis on the ease of use of Byteball applications. If you want to succeed today, it’s important that ordinary people are able to use your technology, and that’s what Tony and his team is trying to achieve.
DAG currencies have unquestionable advantages over currencies using the classic blockchain, whose problems we could see late last year with Bitcoin and its unprecedentedly high fees well over $50.
“While Blockchain is plagued by problems from miners to slow transactions, DAG‘s
distributed acyclic graph foregoes this problem and allows for faster transactions, better
scalability, transaction finality and many other features which are steadily placing it on top
of the game,” says Byteball’s founder Tony Churyumoff.
Byteball has partnered up with CONNAX to explore the possibilities of integratingByteball technology into protected microcontrollers. “The partnership represents a step up – industrial application of DAG technology,” explains СONNAX’s CEO Alex Cohen.