NiceBytes is a new cryptocurrency based on the ByteBall platform and smart contracts. Find out everything you need to know about this new project today in our review.
NiceBytes, found online at NiceBytesorg, is a dual chain that uses direct acyclic graph (DAG) technology and the Byteball platform along with the Ethereum ERC20 protocol. Using these two chains, the development team has created a cryptocurrency with “a non-recurring, fully-deterministic emission and a fundamentally unpredictable deflationary effect, which is based on the quantum uncertainty principle,” explains the official website. That’s a fancy way of saying the tokens are being released for free via a randomized airdrop.
The NiceBytes development team wants their token to be the preferred unit of exchange for cryptographic tools and assets. The goal is to enable convenient and speedy transactions while also allowing token holders to receive a bonus in exchange for holding tokens.
NiceBytes has launched with a unique slogan. In an introductory video, the team referred to their coin as “the token that brings complete satisfaction.” One of the reasons NiceBytes “brings complete satisfaction” is because the token pays stakers returns of up to 400% per year.
With that in mind, let’s take a closer look at how NiceBytes works.
What Is NiceBytes?
The “nice” part of NiceBytes is that token holders will receive a return of 400% per year on their balance. If you hold NiceBytes in your account, then you’ll receive a return as high as 400% per year.
This ROI is only guaranteed for the first calendar year from the date of launch. It’s unclear what the ROI will be from that date forward.
How does NiceBytes generate returns of 400% per year? NiceBytes isn’t launching some investment scam. Instead, your returns of 400% occur entirely in NiceBytes tokens. NiceBytes is airdropping tokens to customers every 24 hours. You have the potential to gain 2% returns every 24 hours by receiving tokens through the airdrop.
How will tokens be airdropped to users? Which users will receive more tokens? NiceBytes will use a random number generator to decide which wallets get tokens. Similar to a lottery system, NiceBytes will distribute tokens “based on the principles of quantum computing.” Specifically, NiceBytes plans to use the Idquentique randomizer, a randomization tool made by a Swiss company.
NiceBytes is listed under the symbol NBT.
NiceBytes also calls itself a “dual chain” token. The two chains used by NBT include Byteball (which uses blockchain-like DAG technology) and Ethereum. NBT tokens are available on both Byteball and Ethereum. You’ll be able to exchange tokens 1:1 across the chains.
The NiceBytes official website claims that the value of tokens is expected to rise over time. How can the value of tokens rise when NiceBytes is airdropping tokens every day? Won’t an increased supply reduce the price? Here’s how NiceBytes answers that question:
“Why will the price for tokens rise? Emissions of NiceBytes cryptocurrency are limited. It can’t be mined. So the regular airdrop will stimulate the storage of tokens and wallets, raising their exclusivity on the market. All you have to do is wait for which percentage the unbiased machine will send you today. But in any event, you will make a profit.”
That second sentence seems self-contradictory. Airdrops continuously increase the supply of tokens available, but these same airdrops also raise the exclusivity of the tokens? Huh?
Let’s take a closer look at how NiceBytes plans to distribute tokens.
The NiceBytes Distribution Plan
NiceBytes has a unique distribution plan. The vast majority of tokens are being airdropped to users for free. A portion will also be sold. Here’s how it breaks down:
- Airdrop Reserve (80%): 8 billion tokens worth $80 million USD
- Team and Reserve Fund (8%): 800 million tokens worth $8 million
- Token Sale (8%): 800 million tokens worth $8 million
- Initial Distribution: 300 million tokens worth $3 million
- Email Drop: 100 million tokens worth $1 million
The airdrops will occur every 24 hours for a full year. The token sale for NiceBytes tokens began on April 10, 2018, which is also the same date the email drop occurred. Meanwhile, the first airdrop is scheduled to take place on May 9, with airdrops continuing every 24 hours for a year.
The valuations above are based on a token price of $0.01 per NBT, which is the price of tokens during the NiceBytes token sale.
How Is NiceBytes A Dual Chain Token?
NiceBytes uses both the Ethereum blockchain and the Byteball platform. An NBT token is an ERC20 token on the Ethereum blockchain, but it can also be represented by a unit on the Byteball network.
Byteball’s network uses directed acyclic graph (DAG) technology, which means it doesn’t have blocks like a traditional blockchain, although each Byteball transaction still refers to its parent transactions similar to how a blockchain works. Transactions link to one another in multiple ways to form a graph instead of a strict chain.
In any case, NiceBytes aims to use the high transactional capacity of Ethereum, the low transaction costs of Byteball, and the smart contracts on both networks to create an ultimate cryptocurrency. Users can transfer NiceBytes tokens (NBT) between Ethereum and Byteball in a 1:1 ratio to take advantage of either chain.
The NiceBytes Token Sale
The NiceBytes token sale began on April 28. Tokens are being sold at a price of $0.01 USD during the token sale.
NiceBytes aims to raise $8 million USD during the token sale. That money will be used to spread awareness of NiceBytes.
About trust NiceBytes coin On NBT
- Token Symbol: NBT
- Token Sale Starts: April 10, 2018
- Total Supply: 10 Billion
- Token Standard: ERC20
Who’s Behind NiceBytes?
NiceBytes publishes no team information online. The company’s whitepaper and website don’t feature any information about the development team, their experience, or their location. The company’s Github page and social media pages have limited activity.
NiceBytes claims to be the world’s first dual chain token. The token, NBT, exists on both the Ethereum blockchain as an ERC20 token and as a unit on Byteball. You can swap tokens at a 1:1 ratio between both exchanges to take advantage of either platform – like the low transactional costs of Byteball or the easy storage of ERC20 tokens.
NiceBytes is launching with an unusual mechanism in place: the company plans to airdrop 80% of its total supply of NiceBytes tokens (NBT) to users. NiceBytes will automatically distribute a random number of tokens to anyone holding NBTs in their wallet. Users can earn up to 400% per year (in NBT tokens) simply by holding tokens in their wallet and waiting for the airdrops to arrive.
The airdrops are occurring every 24 hours, which means the supply of NBT tokens is constantly increasing. Naturally, you’d think this increasing supply would lower prices. However, NiceBytes claims the price of their token is expected to increase over time. It’s not totally clear how or why the price would increase, however, or how NiceBytes plans to compete with other tokens.
To learn more about NiceBytes and how it works, visit online today at NiceBytes.org.