Byteball Bytes is the native cryptocurrency of the Byteball platform, which is a decentralized system that allows for secure peer-to-peer transactions. Bytes are used as the unit of value for transactions within the Byteball ecosystem.
One unique feature of Byteball Bytes is that transactions do not require the typical blockchain structure found in most cryptocurrencies. Instead, Byteball uses a Directed Acyclic Graph (DAG) technology called the “Byteball network” to process transactions. This allows for faster confirmation times and scalability compared to traditional blockchain systems.
Users can send and receive Bytes to anyone around the world without the need for intermediaries like banks or payment processors. Additionally, Byteball Bytes can also be used to create and execute smart contracts, which are self-executing agreements with the terms of the contract directly written into code.
Overall, Byteball Bytes serve as both a medium of exchange and a means of executing smart contracts within the Byteball ecosystem, offering secure and efficient transactions without the need for a traditional blockchain structure.
