Network Token

ByteBall (GBYTE)

Byteball is a decentralized system that allows tamper proof storage of arbitrary data, including data that represents transferrable value such as currencies, property titles, debt, shares, etc. Storage units are linked to each other such that each storage unit includes one or more hashes of earlier storage units, which serves both to confirm earlier units and establish their partial order. The set of links among units forms a DAG (directed acyclic graph).

There is no single central entity that manages or coordinates admission of new units into the database, everyone is allowed to add a new unit provided that he signs it and pays a fee equal to the size of added data in bytes. The fee is collected by other users who later confirm the newly added unit by including its hash within their own units. As new units are added, each earlier unit receives more and more confirmations by later units that include its hash, directly or indirectly.

“We have proposed a system for decentralized immutable storage of arbitrary data, including data of social value such as money. Every new unit of data implicitly confirms the existence of all previous units. Revision of past records similar to that in 1984 becomes impossible, as every new unit also implicitly protects all previous units from modification and removal.”