Obyte

Obyte (GBYTE) is a distributed ledger platform that uses a directed acyclic graph (DAG) instead of a blockchain. It was originally launched as Byteball and later renamed. The platform supports smart contracts and autonomous agents, enabling conditional payments and decentralized applications without traditional blocks or miners.

Obyte orders transactions using a DAG structure, where each new transaction references previous ones. Witnesses, selected by the community, periodically sign the DAG to establish a consistent order. This design allows fast confirmation without miners, while smart contracts and autonomous agents run on the platform. GBYTE is the native token used for fees and data storage.

GBYTE is the native cryptocurrency of the Obyte platform. It is used to pay for data storage on the DAG, to place deposits for smart contracts, and to interact with autonomous agents. GBYTE also serves as a medium of exchange within the Obyte ecosystem for various decentralized applications built on the platform.

Unlike blockchain-based systems such as Bitcoin or Ethereum, Obyte does not use blocks or miners. Instead, it relies on a DAG where every transaction references prior transactions, and witnesses help establish order. This structure aims to provide faster confirmation and lower costs. Obyte also supports autonomous agents, which are smart contracts that can operate independently with their own addresses.

Obyte (GBYTE) is a cryptocurrency launched in 2016. Obyte has a current supply of 1,000,000 with 941,246. 42584233 in circulation.

Obyte is currently priced at $5.23, down 0.92% in the last 24 hours. It is ranked #1222 by market capitalization. Over the past 7 days, GBYTE is up 6.41%.

Obyte has a market capitalization of $4.92M. The 24-hour trading volume is $14,418.28, reflecting the total value of GBYTE traded across all exchanges in the last day.