Behind the development is the Byteball company. Not much is known about most of the developers, the team is rather covered up. The founder is Anton Chuyumov. He founded several Internet companies, such as Teddy ID and Platron. Before that, he studied physics and mathematics in Russia, but then turned to the business world. He began development in 2014 when he discovered the DAG.
Byteball Coin advantages and disadvantages
The distribution method of the GBYTE Coins also received a lot of criticism. Surely many were happy to get some coins for free. However, the coins were distributed in such a way that the more Bitcoins you had, the proportionally more Byte ball coins you received. Those who already had lots of bitcoins were rewarded the most. Not the fairest method.
Behind the crypto currency is a special technology that is not entirely new, but has not been used by any other crypto currency so far. The Directed Acyclic Graph system has a few advantages over the blockchain, such as scalability. Other blockchains could eventually become too slow and the transactions could last forever. The forecast looks good because there is a very sustainable framework behind the coin.
The GBYTE coin price has developed particularly well so far, and traders’ confidence seems to be there in any case. But this also means that buying Byteball Coin is very expensive. The price has shown that it can go up for the coin properly. But first you have to invest a lot more than with many other Altcoins.
Create Byteball Wallet
The crypto currency has already entered the stock markets at a very high level. At the beginning of 2017, the Byteball Coin price was 20 euros. At the end of January it was already 80, then the price fell in the course of February and in March to around 50 to 60 euros per GBYTE coin. In April and May the GBYTE coin price rose continuously and was quoted at over 200 Euro. At the end of May/beginning of June the coin experienced a rally and reached over 600 Euro per GBYTE. In July it was then almost 800 Euros. After that, the price fell somewhat, in August it was mostly between 200 and 300 euros.
In the course of September, October and November 2017 the GBYTE Coin lost further value and was between 100 and 200 Euro. In mid-December the price picked up again and was quoted between 400 and 600 euros. In January 2018 things looked even better, with the crypto currency averaging over 600 euros and reaching a peak of almost 1000 euros per coin. In February, the price fell again to around 300 euros.
The Byteball Coin forecast: So far the coin followed the general developments on the market. However, the price is far higher than most other crypto currencies. The GBYTE coin will certainly remain in the three-digit range in 2018, but the price can fall or rise again at any time. The crypto currency is extremely volatile and it is worth keeping an eye on it.
The official Byteball Wallet can be downloaded from the developers website. There is an installer for iOS, Android, Windows, Mac and Linux. The installations should run smoothly if you just follow the instructions.