What is Byteballs? / cryptocurrency

These last days I have been struck by an issue that is being trending in many social networks, on various platforms etc. it is about a cryptocurrency called Byteballs which has had in the last moments a great relevance in the world of cryptocurrencies, but that is because?

I had the opportunity to research more about it in several sources of information which I want to share with you about what is currently being a trend

source: https://www.coin-report.net/esp/byteball-coin/

Good to start the Byteballs is a cryptocurrency with a lot of potential and it's free. Byteball is among the many networks of decentralized block chains. The purpose of the platform is to achieve a purpose different from that of most cryptographers. Byteball stores physical assets, in the form of electronic data within its network, that can not be altered. Therefore, Byteball has adapted a tamper-proof storage in which the nodes of the platform link storage units with each other. Byteball uses a DAG (directed acyclic graph) to establish order; this works on the platform since the hashes of the previously stored units are necessary to confirm the transactions

The Byteball network is open to everyone. This new blockchain network allows anyone to load a new unit into the database, but only if the data bytes match the paid rate. The users within the platform are players in the confirmation of new units; they receive the paid Bytes as a fee. Then, they include the data by having the new electronic data within their existing units. More confirmations increase the number of hashes for existing units; as a result, the greater the number of units, the greater the security of the arbitrary data stored within the network.

source: https://steemkr.com/busy/@aphiso/byteball-the-most-underrated-coin-i-can-think-of

Bytes is the internal currency of Byteball users to perform transactions within the network that mainly includes a fee for storing data. However, the network allows issuing other currencies to represent the physical assets stored arbitrarily. In addition, it is possible to buy goods and services by sending alternate bytes or coins; in this case, the warehouse unit includes the value that the transactions add.

Double spending is not something you would have to worry about if you are using Byteball. The network allows the database to spend the same output in a single transaction. However, the network can only approve one based on the total order created when a single chain is selected in the DAG, the main chain. Thus, the units with hashes in previous chains or the DAG fall into the total order category.

The users choose the tokens to improve the security of the platform. Trusted witnesses are named in each storage unit. Witnesses should not spend twice due to the fact that they have real world identities; This works well if most witnesses behave within the rules. Witness units are deterministic as they accumulate to make a decision regarding total order as the final determinant.

In this platform, users have the option to store their funds in different addresses, but they may also require multiple signatures to make transactions. In addition, spending within the network may require that a couple of conditions be met; this will involve an evaluation of a certain piece of data in the database beforehand.

I hope you liked the little information collected, leave your comments :)

source: https://www.tokens24.com/es/cryptopedia/basics/que-es-byteball-y-donde-comprar-bytes-byteball