It's a post-blockchain technology that achieves true decentralization by getting rid of big power centers and middlemen, such as miners. The team claims that due to the absence of blocks and miners, access to Obyte ledger is decentralized, disintermediated, free (as in freedom), equal, and open.
Obyte claims to be the first DAG-based cryptocurrency platform to support dApps. Due to the absence of miners and blocks, the team claims that there is no risk of front-running and other miner manipulation, and dApps are safer and easier to develop than blockchain-based dApps. DApps are developed in Oscript - a new language that avoids many unsafe programming patterns common in earlier dApp platforms.
Obyte is connected with other popular networks, such as Ethereum, through Counterstake -- a truly decentralized cross-chain bridge developed by the Obyte team in 2021.
The team believes that Obyte is especially well suited for DeFi apps. Some notable DeFi apps that exist only on Obyte are:
* Bonded stablecoins: stablecoins based on bonding curves, since 2020.
* Oswap DEX: an AMM DEX with increased APYs for liquidity providers and leveraged trading without liquidations for traders. Since 2020.
* OSWAP Token: a governance token for Oswap DEX based on a bonding curve specifically designed for this purpose. Since 2023.
* Kivach cascading donations: a cascading donations platform for helping fund open-source projects on GitHub. Since 2022.
* Prophet prediction markets: a prediction markets platform based on bonding curves for trading bets on future events, such as sports and cryptocurrency prices. Since 2022.
Other features include:
* self-sovereign identity,
* private untraceable currencies,
* sending crypto to email using textcoins,
* and extremely small-footprint libraries suitable for small IoT devices.
How to Buy GBYET on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing GBYET. Some reputable platforms include LBNK, Okx, Kraken, and others.
Step 2: Register an Account
Here, we'll register an account on the OKX (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing GBYET.
Step 5: Purchase GBYET
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of GBYET you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy GBYET.
Step 6: Store Your GBYET
After purchasing, you can choose to store your GBYET in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and GBYET assets, be sure to use a strong password and enable two-factor authentication.
GBYET Price:The price fluctuates daily, and as of March 30, 2024, the highest price for GBYET was $1195.99.
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