What Is Gobyte?
GoByte is a brand-new cryptocurrency that has been recently developed. It’s a type of digital currency that is said to be completely secure through the use of a cryptography. It is issued through a decentralized mining system and market. The platform is based on the Dash system and is further taken and resolved with a unique version still in development. There is a specific masternode technology apparently that offers a 50% reward base and nearly immediate, completely secure payments. Not only that, but it is all said and done in an anonymous way with all transactions.
How Does Gobyte Work?
Gobyte is said to be one of the largest emerging start-ups that uses cryptocurrency. And it has supreme potential for very fast, rapid growth and expansion. There is a proof work system, that is a developed and available for everyone. It’s all based on a proof of work environment that is said to make it all stable and accessible, as well as safe for everyone who uses it. They use advanced GPUs or Graphic Processing Units as miners that hold the Masternodes.
- Algorithm – This is a hashing algorithm developed on a NeoScript.
- Block Reward – The rewards for blocks are 15 GBX and decrease by 12% each year.
- Max Supply – There is a maximum supply of 31.8 million available for the network.
The Gobyte Blockchain is said to be super-fast, nearly like the speed of light and transactions operate in the same manor for instantized integration with InstaSend. It’s also designed to be one of the most secure networks according to the company. They use a POW system and masternode type of network that is designed to help protect all transactions. The platform is completely resistant to Asic issues. It’s said to completely surpass other systems currently being used and mining runs on GPUs.
The benefits of using Gobyte are said to be many. For one, as stated, the algorithm is Neoscrypt. And the block time is only 150 seconds. They are projecting a supply of about 31-32 million. And again, the masternode is 50% of the block reward. You do need a 1000 GBX for masternode capability apparently. And the block reward of 15 GBX will drop by at least 12% throughout each year. There is superior difficulty as well for retargeting making it a completely unique platform. And the Dark Gravity Wave is said to be one of the most advanced technologies on the planet. The entire system is said to be one of the most advanced when it comes to privacy and security.
All transactions are promised to be 100% anonymous and secure through the darksend project. This is what makes retargeting difficult apparently and it works through the dark gravity wave. The masternodes are what is promised to keep the entire platform transparent and honest. It works in conjunction with instant send.
Gobyte GBX Conclusion
If you’re into cryptocurrency or looking to get into the industry, mining is the way you make the real money. GoByte could be a great company to work with, but we will have to see after they’ve been in operation for some time. There are a lot of companies in the works, many of which are not trustworthy and should be avoided.