Byteball Bytes (GBYTE) has announced what many have regarded as its biggest achievement since its launch. The company has unveiled an intuitive usernames system that will be used in making transactions. The new system will help in solving one of the biggest challenges attached to cryptocurrencies. The challenges of big and bulky addresses that in many cases leads to mistakes and errors.
Despite the market experiencing a slump, the company has been attracting a lot of positive attention in the market. The coin has gone up, adding 7.38% in the last 24 hours. Even with this raise however, the coin has been depressed dropping from a high of $1,058.49 in January to $61.14.
Apart from Byteball Bytes, other projects like Bitcoin Cash and DASH has have in past suggested developing similar systems. Byteball Bytes’ system is however still under development and the company is yet to launch its full version.
Connecting to Byteball wallet through Steemit
Byteball users can also be assigned a username by connecting to their Byteball wallets using a Steemit username. The new system seem to be paying off from the word go. Since the launch, the company has seen the number of users rise to 68,000 accounts.
The EOS network
The idea of a username system has been applied before by the EOS network. However, Byteball, being an older coin claims it is in a better position to solve the challenge of being a minable digital currency and is very much ready for widespread adoption. In the recent days, Byteball has been attracting a lot of attention and has gained substantial popularity for being one of the platforms that offer token generation.
According to information on the project website, the Byteball username payment system is ideal for compliant security tokens. The system, according to the company, can be used without the worry of whether the tokens will be accepted as legal or not.
The recent growing interest in tokenized investment and security tokens is expected to further drive demand for the Byteball project. The Byteball project is not a blockchain but rather a network that is based in Directed Acyclic Graph. It has a lot of resemblance to IOTA (MIOTA) and NANO (NANO).