GOBYTE – An innovative and secure crypto coin

GoByte is a digital currency; it is not printed and never will be. They are held electronically and nobody has control over it either. They’re produced by people and businesses, creating the first ever form of money known as a cryptocurrency. While normal currencies are seen in the real world, GoByte runs through billions of computers all around the world. From GoByte in the United States to GoByte in India, it has become a global currency. However, the biggest distinction it has from other currencies is that it is decentralized. This means that no specific company or bank owns it.

GoByte (GBX) is an innovative cryptocurrency. A type of digital currency secured by cryptography and issued through a decentralized and propelled mining market. In view of Dash, it’s an improved and further developed version, highlighting the masternode technology with 50 percent Reward, near-instant and secures payments and in addition anonymous transaction. GoByte has extraordinary potential for quick growth and expansion. In view of an aggregate Proof of Work and Masternode framework, it is available to everybody; it guarantees a reasonable and stable return of speculation for the Graphic Processing Units (GPUs) miners and the Masternode holders.

Why GoByte?

GoByte Window, Mac, and Linux Wallet are now released. All wallets are now ready for download (Windows, Mac, and Linux).  GoByte can be used anonymously to buy any kind of merchandise. International payments are extremely easy and very cheap. The reason of this is that GoByte is not really tied to any country. They’re not subject to any kind regulation. Small businesses love them because there’re no credit card fees involved. There’re persons who buy GoByte just for the purpose of investment, expecting them to raise their value.

Masternodes

Compared to Bitcoin, where each node is equal, GoByte has special privilege nodes called Masternodes. Masternodes can be seen as computer servers, setup to serve the users of a particular cryptocurrency network. In GoByte’s case, they enable the InstantSend and PrivateSend features. In the future, they might even be used to assist in “Atomic swaps” (the trading of one digital currency to another cryptocurrency, without the need to trust a third-party).

Anyone can setup and add a masternode to the GoByte network. To create a masternode, a user needs to lock in a fixed amount of coins. For GoByte, the creation of a masternode requires you to lock in 1000 GoBytes as collateral. You won’t lose the 1000 GoBytes, they just enter an unspendable state. Users can then either setup a server to host the masternode themselves or ask a service provider to do so on their behalf.

Masternode coins allow a different strategy when it comes to investing. First off, because a certain number of coins are needed to be locked in as collateral, the supply of the currency will diminish. This drives demand higher as the supply comes off the market. Secondly, masternodes also generate yield, hosting a GoByte masternode generates GoBytes. The yield varies mostly according to the masternode count currently active on the network and is payed daily.

Masternode Rewards

GoByte masternode holders passively earn 50% from the mining block rewards (at the time of writing this article: 7, 5 GBX) which in turn favors the masternode holder with good ROI values over time. Do note, however, there are diminishing returns. So when the network grows with more masternodes the mining block rewards will be shared over the increased number of masternodes.

Your return on investment per masternode depends on:

  • The current value of the masternode coin
  • The frequency of payouts
  • The cost to host the node (if applicable)
  • The initial cost of the coins needed to start the masternode

InstantSend

Within the GoByte wallet, you have the option to enable InstantSend. With this feature enabled your transactions will be processed near instantly through the masternode network. InstantSend also solves the double-spending problem without the longer confirmation time needed compared to other cryptocurrencies like Bitcoin. The InstantSend system does require slightly higher fees though.

Bitcoin transactions are horrible cumbersome and increasingly less suited to digital cash because transactions take a long time to confirm. Through the speed of InstantSend, it might be possible in the future for GoByte users to for example buy a coffee or a soda from a vending machine or (small) goods and services online instantly, without heavy fees. This makes GoByte a true digital currency: for use and not as a commodity.

PrivateSend

We all value our privacy very highly. GoByte protects your financial privacy by masking the origins of your funds. This is available through the PrivateSend system. This feature allows mixing your transactions in between several other transactions making it hard to identify any specific transactions. PrivateSend is entirely an optional privacy feature.

GBX MASTERNODE STATS

Based on actual data over the past 24 hours

ROI (annual): 482.80% / 76 days
Paid rewards for masternodes: 4,140.2010 GBX
AVG masternode reward frequency: 13h 36m 31s
Masternodes total: 131
Supply: 366,395 GBX
Coins locked: 313,000 GBX (85.43%)
Required coins for masternode: 1,000 GBX
Masternode worth: $28,546.10 / 1.94496 BTC

 

Successful GoByte Marketing often results from innovative businesses simply accepting payments to open up new niches. Many businesses have had great fortunes with using GoByte, which further strengthens the economy by giving more uses for the cryptocurrency. The almost non-existent fees and the inability to reverse transactions is a huge selling point for business, where traditional payment methods (like credit cards) could leave the business with losses.

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