Byte Ball is where one can easily store arbitrary data without the risk of them being interfered with. This includes data that represents transferrable value; examples are currencies, debt, property titles and shares.
There is linkage of storage units such that each storage unit includes one or more hashes of earlier storage units. These then serve both to confirm earlier units and establish their partial order and the resulting set of links that join the units forms a Directed Acyclic Graph (DAG).
With the addition of new units, each earlier unit receives more and more confirmations by later units that include its hash both directly and indirectly. Byte Ball has an internal currency called Bytes that is used to make payments for adding data into their decentralized database.
Some of its advantages include: Risk-free conditional smart payments, P2P insurance and betting and prediction markets among others.
Founder: Anton Churyumov Release Date: Dec 25, 2016
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