GoByte has a network and cryptocurrency. The GoByte Network is independently developed as well as modular with all the modules using the same blockchain as their core. The cryptocurrency, GBX, is secured by cryptography, and an advanced and decentralized mining market issues it.
The GoByte cryptocurrency, GBX, is based on Dash but with enhancements. It has masternode technology that includes a 50 percent reward and payments that are secure, nearly instant, and anonymous. At the time of writing, you can buy, spend, or trade GBX on Cryptopia, CoinExchange.io, Stock Exchange, and CryptoBridge, and it just added HitBTC to this list. You can also use Karsha to buy GBX using your local currency.
What Is the GoByte Network?
The GoByte Network is modular and based on blockchain technology. Despite using the same blockchain for their core, each GoByte module is developed independently. This lets each module work together to create the secure, quick network. Because the network is modular, it is possible to update each module independently without worrying about this affecting other modules.
The developers behind the GoByte Network are working to create new, innovative modules that they will later merge with the existing ones. Every module has a dedicated development team, including a senior developer. In that way, GoByte can give developers the chance to create nearly anything they want.
It is important to note that most cryptocurrencies focus on a single ability, such as a vertical application or transaction speed. By contrast, GoByte uses its modularity to allow developers to work toward any and all goals.
What Figures Should You Know?
GoByte displays live network statistics on its website. At the time of writing, the network was running at 26,698.9 MH/s with a difficulty of 785 The current block was 86,468 and the coin supply was 2,147,992.8
What Are Some Advantages of GoByte?
One of the strongest traits of GoByte is its “super-fast” speed, as the InstantSend payments take under a second to confirm. GoByte is also secure, as masternode servers and miners around the world confirm all transactions. Miners will appreciate that GoByte is ASIC resistant for efficient, fair mining via GPU. Thanks to PrivateSend, financial information, such as balances and activity history, remains private. The masternodes support both InstantSend and PrivateSend while ensuring network integrity. Finally, GoByte includes difficulty retargeting with Dark Gravity Wave.
Mining GoByte
Gobyte uses the NeoScrypt Algorithm, which is ASIC resistant. We have written a separate full guide on How to Mine GoByte.
What Are Other Rewards?
There are also rewards for hosting masternodes and PoW. The Proof-of-Work reward is 15 GBX and decreases by 8.33 percent every year. The masternode reward is 50 percent or 7.5 GBX.
What Is the Pay Module?
The Pay module is the largest module on the GoByte network and was the first. It is both a cold wallet and a payment gateway. This module works directly on the blockchain, making it possible to create then execute transactions that the masternodes and miners confirm later on.
GoByte Pay delivers an intuitive interface that is designed to work on mobile devices, web browsers, and desktop computers and to be simple enough for even those with limited technological experience to understand. There are also applications for both Android and iOS.
With GoByte Pay, you can receive and send GoByte (GBX) in just seconds. The module has built-in web wallet integration and a payment gateway, so merchants can account for every transaction, including in store, in app, and on the web. GoByte Pay can support multiple currencies in one account, as well as multiple wallets. There are notifications for transfers and payments, and fund transfers within the network are completely free. The system supports two-factor authentication, and the team is working on third-party issuer integration for MasterCard.
GoByte Pay tackles the problem of high fees found on many cryptocurrency networks and exchanges. There are no transaction fees within the GoByte Pay network, and the only fee is for withdrawals to GoByte addresses that are not within the module. This can include third parties, local wallets, and exchanges. The fee is no more than 3 percent and is based on verification level, with some users have no fee. Merchants with masternodes do not have to pay for withdrawals, while those without masternodes pay either 0.001 GBX or 2 percent, whichever is higher.
What Has GoByte Already Achieved?
GoByte’s roadmap is relatively young compared to other blockchain projects. It began in Q4 of 2017 with the website launch and the wallet release for Windows, Mac, and Linux. That quarter also saw it listed on four exchanges, Whattomine, Coinmarketcap, and Masternode Monitor Website.
During Q1 of 2018, GoByte worked on the white paper, mobile and web wallets, and payment gateways (both applications and GoBytePay). The team also worked to attract merchants and get listed on more exchanges.
What Does the GoByte Roadmap Look Like for the Future?
Q2 of 2018 will see the addition of the electronics shop and multiple projects beginning, including the Market Module for GoByte Market and development of the exchange. This is also when GoByte will hire a PR team, attract more merchants, and work on the awareness and marketing campaign. In the third and fourth quarters, the team will continue to attract merchants and start developing the POS terminals. This is when the team will test GBX payments for vending machines, as well.
The second half of 2018 will also include beginning development for the Overwatch and Mint modules. This is when the team will begin building their mining farm and share the profits among the masternode owners. GoByte will launch the hardware wallets for its tokens, as well.
Q1 of 2019 will see a continuation of attracting merchants. It will also add masternode features and smart contracts and start developing the “Social” platform.
Conclusion
GoByte provides a network for developing applications via modules, a unique method for creating projects on the blockchain. It also offers the ability to mine, giving users a way to earn GBX. GoByte combines a digital payment system and cryptocurrency with low fees, providing users with the ability to accept or use crypto for payments.
