ByteBall (Gbyte) - innovative DAG-driven cryptocurrency

In two words Byteballs (BB) are the linked storage units of decentralized database. The balls are linked together in a sense that each one of them includes a few hashes that validate some of the earlier storage units. If someone will be good enough to visualize all ByteBall links he gets the instance of directed acyclic graph (DAG). Due to the DAG topology every Byteball has a hash of the entire DAG's history prior to it.

Opposite to bitcoin, that is obliged to keep in its blockchain the multiple addresses to avoid address reuse and joining outputs from different transactions the BB hides the entire inputs and outputs, and publish only their hash.

The DAG topology means no architectural limits on scaling so it overcomes easily all limitation associated with blockchain based cryptocurrencies such as bitcoin.

Another advantage of BB is the build-in declarative smart contracts language which is very easy to understand. It is not Turing-complete and powerful as Ethereum's Solidity but it is able to solve many practical business tasks that operate exactly as user expect. It empowers the users to actually use the smart contracts and move value in ways that were not available to them before Byteball.

The Byte token fuels the Byteball's DAG and acts as a value transfer vehicle. The client allows to group bytes into kilobytes (KB), megabytes (MB) and gigabytes (GB).

Byteball has a totally new consensus algorithm that requires to trust 12 entities called witnesses on the network. Those witnesses must be honest, well-behaved and incentivized.

Conditional payments in Byteball allows you to set a condition when the payee receives the money. If the condition is not met, your money are back to you.

It also uses untraceable blackbytes that serve for peer-to-peer payments with complete privacy with transactions that are not visible on the public database.

Byteball is one of the most revolutionary projects after Bitcoin was launched. It solves Bitcoin scalability limits and gives many advantages to Byteball users.