Latest on ATNET:

#ftx-collapse #custodial-trading
#crypto-fundamentals #yield
BTCUSD
D HIGH
D LOW

Data:   Charts:

Kc  · 09/01/22

GBYTE, 0byte (formerly Byteball): The OG airdrop that launched the whole airdrop industry (2017)

06/27/23 · Reports · This is not a financial advice
Altcoin Trading Blog

Note: This report was written in 2017 and remains published for reference purposes.


Glossary entries for this post
stablecoins
Browse The Most Searched-For Topics
hub
dca
hub
 

Every couple of weeks, always on the full moon, the blackbytes airdrops were happening. If you signed a message with a BTC address before the deadline, you received free [giga]bytes and some hours later also some [giga]blackbytes.

While the bytes can be traded on Bittrex (by millions as GBYTE), the blackbytes aren’t traded anywhere. To trade these for bytes you need to sign up to the byteball slack channel via the autoinviter here and head to #trading_blackbyte channel. The channel has a bot that works as an order book by Gigabyte per Gigablackbyte:

On the screenshot, the top of the ask book was at 0.01290 GB/GBB and top of the bid book at 0.02008 GB/GBB.

Gigabytes per bitcoin were trading at Bittrex around 0.24 BTC ($585) before the airdrops became popular, the ratio plummeted later.

About Byteball

Byteball is a payment network that makes it easy to set conditional payments - finalize payment only if condition is met - similar to ethereum smart contracts but more user-friendly.

The way transactions are confirmed is from the high level similar to IOTA’s tangle:

Transactions created by users are cryptographically linked to each other, and once you add your new transaction, other users start adding theirs on top of yours, and the number of other transactions that link to your transaction grows like snowball.

In byteball this is called DAG (directed acyclic graph) - every new transaction references one or more earlier ones by including and signing their hashes. By including its parents, each new transaction also indirectly includes and confirms all parents of the parents, parents of the parents of the parents, and so on.

The supply is capped, there is no mining:

The total number of bytes is 10^15, all bytes were issued in the genesis transaction. Since the fees paid are returned into the circulation, the money supply will remain the same.

The difference between bytes and blackbytes is that blackbytes have enhanced privacy:

Private payments can be made using blackbytes, a cash-like untraceable currency. Its transactions are not visible on the public database that shows all payments made with (white)bytes. Blackbytes are sent peer-to-peer instead in an encrypted chat session.

Read more at bitcointalk

Byteball airdrops

If you didn’t catch the latest airdrop, there will be another one - byteball.org has a countdown.

Currently the next one is scheduled for March 2, 2018. Also, at the moment the reward is shifting towards holders of GB who didn’t sell after the airdrop:

  • For every 16 BTC you receive 0.1 GB (1 gigabyte = 1 billion bytes),
  • For every 1 GB you receive additional 0.1 GB.

Just for anyone who’s interested: To enter the byteball airdrop you needed to download byteball wallet and from it enter into a chat bot. SegWit BTC addresses were not supported.

Quite different from today’s airdrops and whitelists.

Latest Airdrops & Bounties - Updated Daily

new Ola Network Mining - Introducing Ola Network: Programmable privacy on Layer 2....
airdrop Blockgames airdrop - Get 2500 points convertible into tokens. Bonus Airdrop po...
airdrop Claim bXp tokens - Connect wallet and claim tokens.
promo Synfutures DeFi trading competition - starting Mar 10
promo PYUSD staking promo - staking promo
promo LATOKEN events - live
promo Get 10 USDT bonus from Bybit - live
promo SimpleSwap Transaction Bonus - code SsITvSMQ0Cru0ERU

Disclosure: All products featured on AltcoinTrading.NET are independently chosen, but some of the links on this page are affiliate links. Read our full content disclosure to learn more.