A year ago, Byteball distributed free cryptocurrency to Estonians . This time, Byteball is redistributing free cryptocurrency, but now the cryptocurrency platform has a new name – Obyte . If you previously received free cryptocurrency by proving your first email@example.com e-mail address, now the cryptocurrency is distributed with an ID card, Mobile ID or Smart-ID for proving your real name .
What is Obyte?
Obyte is a cryptocurrency platform based on an acyclic graph (not a blockchain) on which other developers can build chat bots. When interacting with chat robots, users can pay with Bytes cryptocurrency ( GBYTE on stock exchanges). The directed acyclic graph also uses IOTA cryptocurrency , which uses discussion power instead of service fees. According to Obyte , IoT (Internet of Things) devices do not have such resources to ensure network security, and instead the amount of the transaction in the database is used for service fees, ie a transaction that takes up 500 bytes of space also costs 500 bytes.
Why did the name change?
During the last 2 years of operation, the team has repeatedly received feedback (especially from native English-speaking users) that the name Byteball is too reminiscent of a toy for dogs. In addition, there was strong pressure from other users to change the name to something better. If you haven’t used this cryptocurrency anymore in the past year, now is the time to take a look at how this cryptocurrency platform has evolved in the meantime .
Why is cryptocurrency distributed to Estonians again?
In fact, Obyte has been distributing cryptocurrency money to citizens of many countries for more than a year, but recent changes make it much easier and cheaper for citizens of the Baltic States to do so than citizens of Estonia, Latvia and Lithuania. Smart-ID, which makes it easier and cheaper to identify a person than when taking a passport webcam. In addition, Estonian e-residents can now associate their real name with the Obyte cryptocurrency address.
Why is it necessary to associate your real name with a cryptocurrency address?
Most cryptocurrencies are pseudo-anonymous, which means that all transactions are publicly visible to everyone, but as long as it is not known who owns an address (read: account number), it is not known who made the entry or to whom the entry went.
In addition to the usual debit / credit settlement known in accounting, cryptocurrencies also differ in that they use the UTXO model, which means that only the previously unused output can be used for each subsequent payment input, and the remaining amount in each entry can be returned to the next address. payment input.
This means that a user’s wallet can automatically create hundreds of addresses in a short amount of time, and each new payment looks like a brand new user. However, this makes it almost impossible to determine if you are distributing cryptocurrencies to only one user or one hundred. Verifying a real name and associating it with an address allows you to differentiate between addresses that belong to unique users.
Is tying your real name secure?
Thanks to private and public key cryptography, your name and other personal information is not stored in the public cryptocurrency database, but only in your cryptocurrency wallet application. Only a unique hash code is stored in the public database. Each user still has control over whether or not they want to reveal their name in an encrypted conversation with the other party. If the user discloses their name, the other party can also use a public hash to verify that the published information is true.
What do I need to do to get free cryptocurrency?
If you don’t already have the Obyte Wallet app, you can download it from the Obyte website . The application can be downloaded to both mobile (Android / iOS) and PC (Windows / Mac / Linux).
If you already have the Obyte Wallet app but don’t have $ 0.5 worth of Bytes cryptocurrency, you’ll need to find someone who can send you cryptocurrency worth that or someone who has already verified their real name and shares a smart voucher code.
What is a smart voucher?
If the person who transferred the required service fee to the new user received a bonus for referring a new user when verifying the e-mail address, then when verifying the real name, each verified user can create his / her own smart voucher , which will reward the new user’s referrer.
Where can I get a smart voucher?
If you don’t know anyone who knows someone who has Obyte cryptocurrency, join the Obyte community in Discord and ask for a smart voucher from there. After linking your name, you can also add an Obyte frame to your Facebook account picture or put your Obyte logo on the header picture to let others know that you can get a smart voucher from you.