Post
Topic
Board Announcements (Altcoins)
Merits 1 from 1 user
Re: BYTEBALL: Totally new consensus algorithm + private untraceable payments
by
Random-String-Symphony
on 31/03/2018, 08:13:46 UTC
⭐ Merited by scambust (1)
It is good news for Byteball community. Byteball platform and its services have become more popular and used by more projects (maybe due to its convenience).
A new ICO on BB Platform : Worldopoly
I also look at Worldopoly, that is likely potential project which can change the gaming industry based on taking advantage of powerful blockchain hashrates). However, I will discover about the project more when I have spare time.
Worldopoly is the world’s first mobile game combining AR, AI, Geolocationing, Blockchain, and DAG.
Again, Bot Store shows us its amazing functions.
Wordopoly ICO Bot is already added to the Bot Store.
Congratulations!

I don't get how Worldopoly will use Byteball. As far as I read from their official website, Worldpoly will be using ERC-20 ETH tokens. Maybe in-game transactions? Then why get into the trouble of using ETH tokens?

They continuously use "Blockchain / DAG" everywhere in the whitepaper, so they probably haven't decided which one to use. They want it for transfer of in-game objects between players.
From the whitepaper: "we chose Ethereum as our base platform because of its customization possibilities and the constant improvements of the computing platform itself." They then go on to describe all of the drawbacks of using this kind of technology for games, they do a good job of describing why it's probably a pretty bad idea.

Mainly transactions speed, fees and irreversibility. A DAG based solution would help with the first two and they think they have figured out some kind of "safety measures" for the last one. They say they want a "risk free environment", so probably some kind of hybrid, not pure DLT. Maybe centralised first then on "commit" by player write to the Blockchain / DAG. Clever marketing will make hardly anyone care about this.

In their own words:
"ByteBall platform is not used yet so widely as Ethereum, but Byteball uses not blockchain technology, but DAG, that solves the above potential issues of Ethereum: the response time in ByteBall is less than 1 sec, the commission for making a transaction is cheaper than Ethereum’s more than in 1000 times and now is on average $ 0.0001. Until we are sure that one of the platforms is much more attractive for our users, we will support both platforms. Tokens released on one platform can be exchanged for tokens from another platform in a 1:1 ratio." [Page 33 from the WP]

Not much of a choice if you ask me, but ICO teams right now are probably too afraid to switch 100% to Byteball because of community backlash, can't just ditch Ethereum and get away with it. This will happen more and more as the serious projects start building their applications. They will find out the hard way that Ethereum doesn't scale and won't for a few years. Then you start looking at alternatives but there are almost none. Byteball is the only working platform on which you can actually build your stuff. A lot of projects never actually release anything so they don't have this problem.

The future is bright for Byteball.