Next generation cryptocurrency platform Byteball has announced a second round of token distribution, scheduled for February 11th, 2017, at 00:33 (UTC) to coincide with the next full moon. This follows the first free bytes token offering held on Christmas Day 2016. Like the earlier launch-day giveaway, the bitcoin community, along with existing bytes holders, will benefit from the distribution.
The Russian-based Byteball differs from other cryptocurrencies by adopting Directed Acyclic Graph, an alternative to blockchain technology which mitigates scalability issues that have been experienced by some other networks. The platform that aims to give people greater control over their funds through ease of use and user readable smart contracts. The ecosystem includes cryptocurrency wallets, a bot supported marketplace and a private untraceable currency amongst other features. It also integrates payments with an encrypted chat e.g., a recently launched trading chatbot allows people to exchange BTC to bytes and vice versa. Byteball has a maximum cap of 10^15 bytes, out of which 99% are to be distributed in multiple rounds.
During the platform’s launch on December 25th, 2016, Byteball offered bytes, it’s native currency, and blackbytes, an untraceable private currency, for free to the bitcoin community, proportional to their BTC holdings. The exercise saw over 70,000 BTCs linked to the distribution. Similarly, the second round of free distribution will be proportional to bytes and bitcoin holdings of the cryptocurrency community. The platform will be offering 0.1 gigabytes for every GB, and 0.0625 GB for each BTC held by the eligible community members.