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Unbounded scalability, fast confirmations, no miners, no blocks, low fees.Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain.When two parties sign a single unit that executes both legs of the exchange, the two transactions either happen simultaneously or don't happen at all.It is no longer necessary to trust any centralized exchanges.
The first distribution round took place on Dec 25, 2016 when the network launched, over 70,000 BTC was linked, and 10% of the total supply of bytes and blackbytes was distributed.
Users just add their transactions to the end of the DAG themselves, they don't have to wait when miners create a new block and there is no guesswork whether miners will include your transaction in the block.
The consensus algorithm used to protect from double-spends is based on establishing a total order within the DAG. There are many channels with lively discussions about future developments, trading, auctions, to name just a few.
For security, you can require that your funds be spendable only when several signatures are provided, e.g. For shared control of funds, signatures from different people may be required.
When dealing with untrusted counterparties, you can lock the funds on an address that is spendable either by you or by the counterparty, depending on the events registered to the database by trusted data providers — oracles. Mass adoption requires wide distribution, that's why 98% of all bytes and blackbytes are to be distributed for free.
Use it for betting on price movements, sports betting, and insurance.