GoByte – An Innovative, Decentralized and Secure Digital Currency

GoByte Header Image

GoByte – An Innovative, Decentralized and Secure Digital Currency

Recently I stumbled upon a new project on the http://www.bitcointalk.org forums: “GoByte“. In the following article I’m going to explain what GoByte is and what their goal is.

What is GoByte?

GoByte is a coin with ASIC resistance that uses the NeoScrypt hashing algorithm. This coin can be mined using GPUs. GoByte describes itself as fast, secure and anonymous.

I’m going to quote the longer description from their website:

GoByte (GBX) is an innovative cryptocurrency. A form of digital currency secured by cryptography and issued through a decentralized and advanced mining market. Based on Dash, it’s an enhanced and further developed version, featuring the masternode technology with 50% Reward, near-instant and secure payments as well as anonymous transactions. GoByte has great potential for rapid growth and expansion. Based on a total Proof of Work and Masternode system, it is accesible to everyone, it ensures a fair and stable return of investment for the Graphic Processing Units (GPUs) miners and the Masternode holders.

(Source)


Features of GeoByte

  • Due to the InstantSend integration, their transactions are lighting fast.
  • The GoByte network is secure thanks to POW and Masternode network which both protect transactions.
  • Because of superior, efficient and fair mining that runs using GPUs this coin is ASIC resistant.
  • The transactions that are made are completely anonymous because of the DarkSend feature of this coin.
  • GoByte is using the Dark Gravity Wave algorithm for their Difficulty Retargeting.
  • GoByte is using Masternodes to help to keep the integrity of the network and enable support for DarkSend and InstantSend

GoByte Transaction Test


Roadmap

  1. GoByte Blockchain Start
    1. Launch of the Website: DONE
    2. Windows, Mac and Linux Wallet Release: DONE
  2. Get listed on Exchanges (Note: “This is only a plan. What we want to do, is a big exchange, but currently we will try to get listed on some exchanges first.“)
    1. CoinsMarket: Completed
    2. Stock.Exchange: Completed
    3. CoinsExchange: Completed
    4. Cryptopia: Completed
    5. Cryptobridge: Completed
    6. HitBTC: Pending
    7. TradeSatoshi: Planned
    8. Bittrex: Planned
    9. Binance: Planned
    10. BitFinex: Planned
    11. OKex: Planned
    12. BitHumb: Planned
    13. UpBit: Planned
    14. Kucoin: Planned
  3. Q4 2017
    1. Genisis Block and Initial Launch: Completed
    2. Website release: Completed
    3. Windows, Mac OS, Linux Wallets Release: Completed
    4. Listing on four small/medium sized exchanges (see above): Completed
    5. Listing on useful Crypto websites: Completed
      1. CoinMarketCap.com (20th November, 2017)
      2. Masternodes.online (21th November, 2017)
      3. CryptoCompare.com (22th November, 2017)
      4. CoinGecko.com (26th November, 2017)
      5. CoinRanking.com (04th November, 2017)
      6. CoinHodler.io: (04th December, 2017)
      7. Masternode.Pro: (05th December, 2017)
      8. WhatToMine.com: (02th January 2018)
  4. Q1 2018
    1. Listing on decentralized exchanges: Completed
    2. Web Wallet: Under Dev
    3. Android App: Under Dev
    4. iOS App: Under Dev
    5. Whitepaper & Translation: In Progress
    6. Development of “Pay” module: Under Dev.
    7. “Pay” module mobile apps: Under Dev
    8. Hosting Providers with GBX Payment: Under Dev
    9. Listing on another 3 medium/big sized exchanges: In Progress
  5. Q2 2018
    1. Electronics Shop: Planned
    2. Starting the development of the “Market” module: Planned
    3. Atomic Swaps/Exchange: Planned
    4. Marketing and Awareness campaign: Planned
    5. Hiring PR team: Planned
    6. Attract Merchants: Planned
  6. Q3 2018
    1. Start development of POS Terminals: Planned
    2. Testing GBX payments on vending machines: Planned
    3. Starting development of the “Mint” module: Planned
    4. Start building the mining farm. Share profits among Masternode owners: Planned
    5. Hardware wallets for GoByte tokens: Planned
    6. Attract Merchants: Planned
  7. Q1 2019
    1. Smart Contracts: Planned
    2. Starting development of the “Social” platform: Planned
    3. Founding or Partnering with an academy for “GoByte Academy”: Planned
    4. Attract Merchants: Planned
  8. Future
    1. Visa License: Unknown
    2. AI that maps data and cryptographs it into a Blockchain: Future
    3. Quantum Ressistance: Future
    4. New Algorithm: Future
    5. BlockDAG with Phantom protocol: Future

POW and Masternode reward

POW 15 GBX
Masternode 7.5 GBX

Team

At the time of writing this article the team consists of seven members:

  • Antonio Moratti
  • Mathieu Arbez
    • Location: Paris, France
    • Age: 32
    • Job: Contemporary Artist and Curator, Video & Filmmaker
    • GoByte Position: Co-Founder
    • GoByte Tasks: Designer, Advisor, Communication/Marketing, Tech support, Tester
  • Syafiq
    • Location: Kuala Lumpur, Malaysia
    • Age: 26
    • Job: IT Security Officer, Designer, Photographer and Videographer.
    • GoByte Position: Co-Founder
    • GoByte Tasks: Designer, Advisor, Communication/Marketing, Tech support, Tester, Dev
  • Akif Rabbani
    • Location: Semenyih, Malaysia
    • Age: 20
    • Job: Developer
    • GoByte Position: Developer
    • GoByte Tasks: Developer
  • LowKey
    • Job: System/Network Engineer & Developer
    • GoByte Position: Lead Developer
    • GoByte Tasks: GoByte Core
  • mnfikri
    • Age: 25
    • Job: System Engineer & Developer
    • GoByte Position: Blockchain Developer
    • GoByte Tasks: GoByte Core, Web Developer, Tech Support
  • Logan Kugler
    • Location: Florida, USA
    • Job: Crypto Fund Manager
    • GoByte position: Advisor
    • Bio: “Logan is a serial entrepreneur who has built six companies and a vast network of world-renowned business leaders. He has written about advances in technology, including cryptocurrency, for dozens of national magazines including Popular Science, Forbes, PC Magazine, Computerworld, and ACM (the world’s largest professional society of computer scientists). Logan has been following cryptocurrency since 2012 and launched a crypto fund in 2017.”

Masternodes

Masternode Cost (GBX) 1000 GBX
Masternode Cost ($) $18567 (24th of November, 2018)
Return on Investment 224.47% (24th of November, 2018)

Statistics

These statistics are from the 24th of February, 2018 (11 AM ([UTC+1]). They probably have changed since then, just visit https://www.gobyte.network/#statistics for the updated statistics.

Network (MH/s) 26,168.0,109
Difficulty 1,193.12,040
Current Block 54073
Coin Supply 1,661,556.7

Important Infos about the Coin

Algorithm NeoScrypt
Block time 150 seconds
Estimate supply 31.8 million
Masternode Block Reward 50%
Masternode Collateral 1000 GBX
Difficulty Retargeting Algorithm Dark Gravity Wave
Premine 2.7%

Downloads

Windows (64 bit) Download
Windows (32 bit) Download
Linux Download
Mac Download

You can also download it on their website: https://www.gobyte.network/#download


Social Media and other Important Links


Summary

GoByte has a quite low total supply of coins. I assume that there’s going to be an interest in Masternodes which leads me to the assumption that many want to buy Masternodes but there are not many who would sell their GBX. This would lead to a substantial price increase.

The team already has presented an extensive Roadmap which shows that they have an accurate plan for their project. What I also have observed is that the team has completed nearly everything on the Roadmap up until now which strenghtens my trust in the team and it is more likely that they are going to fulfill their future promises and complete the Roadmap as well because of this.

I especially like the integration of Masternodes. Currently Masternodes are the new trend and it incentives people to buy GBX to set up an Masternode. This will increase demand in the coin and thus increase the price further in the future.

Their team seems to be well-rounded with enough members to complete all tasks needed to build a project like this. Unfortunately, we don’t get to know much about their previous experiences (except for Logan Kugler [See above]).

All in all, I would say that this project could be very profitable if you invest early. It would be especially profitable if you buy a Masternode because I think that the price will rise substantially.


If you’re now interested in this project just visit their website and start getting involved: https://www.gobyte.network/


Read our other articles:

http://cryptocurrency-advice.com/initial_coin_offerings/


https://bitcointalk.org/index.php?action=profile;u=1037555

Please follow and like us:

Add a Comment

Your email address will not be published. Required fields are marked *