GoByte (GBX) cryptocurrency review: technology, blockchain, wallets, prospects

Nadezhda Zakharova 09/24/2018

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GoByte (GBX) is a highly secure cryptocurrency.

If you analyze this digital asset, you will notice that its structure is quite similar to the Dash cryptocurrency - one blockchain and Masternode technology.

For reference. A masternode is a node that not only stores a complete copy of the blockchain and conducts transactions, but also performs tasks related to ensuring the operation of the network. For example, it allows mixing of transactions in currencies that are anonymous.

Features of the crypto asset

The GoByte cryptocurrency has a reward system reaching almost 50%.

Transaction speed is instantaneous, regardless of volume.

This allows you to avoid waiting for the transfer to take place, as when working with other digital currencies.

The security system ensures complete anonymity of transactions.

The digital asset is based on a common system – Proof-of-Work, as well as Masternode.

The crypto asset is available to all market participants. It allows you to provide a stable return on investment for GPU owners.

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GBP exchange rate to major world currencies

The decreasing or increasing rating of the British currency can be traced from the ratio to the money of other countries. The stable high value of the pound is ensured by the efforts of UK banks and the Monetary Policy Committee aimed at maintaining the position of the national currency in the world market. And this work is independent of external economic and political factors.

The current exchange rate of GBP to the main currencies of the world allows you to verify this. So 1 pound sterling costs:

Euro, € (EUR) 1.239

US dollar, $ (USD) 1.413

Swiss franc, Fr (CHF) 1.348

Japanese yen, ? (JPY) 152.8

Capitalization of the GBX crypto coin and its value

Today, the cost of one crypto coin is $7.51. In total, there are more than 1.1 million coins in circulation. The project capitalization is $8.3 million.

Against the backdrop of a general decline in the exchange rate of digital currencies, the value of GBX coins also decreased.

The historical maximum value was recorded in mid-January 2022, when the crypto asset was trading at $80 per coin.

It is worth recognizing that the exchange rate is highly dependent on general market trends. Therefore, with the increase in the cost of other altcoins, the increase in the price of GoByte will not be long in coming and the capitalization of the project will increase.

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Gobyte Forecast for 2022

Data from Coinmarketcap.com
In mid-January 2022, the Gobyte (GBX) rate against the dollar without any preconditions rose above 80 USD, and has now returned to its usual values ​​of 14-17 USD. Given the lack of a strategy to promote the Gobyte platform, it is unlikely that the price will exceed 20 USD in the near future.

Release dates for the Whitepaper and full Roadmap have not been announced, so those who have already invested in GBX should stay tuned. It is hoped that the development team will reveal more about themselves and their plans.

For those who have not yet invested money in this project, it would be wiser not to invest, at least until the situation becomes clearer. The prognosis for Gobyte is not very favorable.

At high volatility, if the rate rises again, only experienced traders, especially scalpers, will be able to make money. It is not advisable for beginners to trade on such days, because Asian investors, pumping up small cryptocurrencies with their money, can leave the market at any time at the most favorable price for them. And in order to predict such a moment and make money on the Gobyte exchange, you need experience in trading on exchanges.

Blockchain Goubyte

As noted, Goubyte was implemented on the Dash blockchain.

It is known that the Dash blockchain has never had any security problems and has not been seriously attacked by hackers.

There is even a story where the developers hired 60 thousand hackers to hack their blockchain and thereby be able to identify the most vulnerable spots.

Blockchain GoByte , where you can see block information and check the GBX :

• https://explorer.gobyte.network:5002/
• https://gobyte.ezmine.io/

Blockchain GoByte took the following components from Dash:

• Protocol.
• Full nodes with payment for supporting the chain.

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What is Gobyte?

Official website Gobyte.network
As of March 2022, the Gobyte cryptocurrency (GBX) has the following characteristics:

The official website has only an English-language interface.

Technology/Algorithm

Description of the Gobyte system from the developers
The Gobyte blockchain borrowed the following elements from DASH:

1. Full nodes with payment for maintaining the chain.
2. Protocol

The currency is issued by GPU mining; the blockchain is based on the Neoscrypt algorithm.

Masternodes

Reward for Gobyte miners using the Proof of Work algorithm and for masternodes.
The Gobyte ecosystem contains full nodes, masternodes, which are run by groups of volunteers and have the right to vote when making decisions important to the community.

The entire chain of transactions is stored on masternode servers. Each full node pledges 1000 GBX to have a vested interest in the benefit of the entire ecosystem. Node owners receive rewards for completing two tasks:

1. Storing the full version of the blockchain.
2. Maintaining the operation of the network, in particular performing PrivateSend functions.

As a reward, masternode owners receive 50% of the profits of Gobyte miners.

For owners of a full masternode node

Instructions for setting up a masternode are available on the project’s official website.

Private Send

PrivateSend is a service for enhanced protection against de-anonymization. The amount that one person wants to send to another is divided into shares of the established values ​​(0.001; 0.01; 0.1; 1; 10) and sent to random masternodes. When activating PS, the user only needs to indicate the number of such shuffles (usually from 2 to 8).

Masternodes mix the inputs for these transactions with the inputs for any other payment transaction taking place at that time. Thus, two pairs of senders and recipients can hide their data at once. Without PrivateSend, the blockchain is still resistant to traffic analysis and decryption.

Advantages and disadvantages of Gobyte

Roadmap
The disadvantages of GBX are as follows:

1. The Whitepaper has not been written, the project's mission is defined only in general terms.
2. There is no information about the developers on the official website.
3. The list of investors is unknown.
4. The Roadmap is not drawn up as a separate document; it is a list of two points: create a website and release your own wallet for cryptocurrency.

There is no clear promotion strategy or offers for partners.

The only advantage that can be noted is that the coin has not fallen below the 1000th place in the Coinmarketcap rating, that is, it is among the lowest liquid assets.

Mining cryptocurrency GoByte

Crypto asset mining is available on GPU. It is based on the Neoscrypt algorithm.

Currently, the reward for one block is 15 GBX.

Moreover, this figure decreases annually by ~8.33%.

GBX mining pools:

• https://asia1.gobyte.network/
• https://us1.gobyte.network/
• https://beardedpool.fr/

You can use CCminer to mine crypto coins.

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Pound sterling banknotes

UK banknotes have common denominations: £5, £10, £20 and £50.

The current £5 note (reverse) features an image of Sir Winston Churchill, Nobel laureate and Prime Minister of Great Britain during the Second World War.

On the other side (obverse) is Queen Elizabeth II, the reigning monarch.

The £20 note features Adam Smith and the £50 note features Matthew Boulton and James Watt.

Charles Darwin is featured on the £10 note (reverse), which was withdrawn from circulation in March 2008.

The Bank of England is the central bank of Great Britain. He is also known as the "Old Lady" of Threadneedle Street. The bank is responsible for the design and printing of banknotes.

He began the transition from traditional paper banknotes to polymer banknotes. On 13 September 2016, the Bank of England issued its first £5 note, made from a polymer substance.

The Bank of England has two very large denomination notes called the Giant and the Titan. They are worth £1 million and £100 million respectively.

These notes are not in circulation, instead their purpose is to allow authorized banks in Scotland and Northern Ireland to have an equivalent value in Bank of England notes.

£5 2016

portrait of Elizabeth II

portrait of Winston Churchill

£10 1999

portrait of Elizabeth II

portrait of Charles Darwin

£20 2006

portrait of Elizabeth II

portrait of Adam Smith

£50 2011

portrait of Elizabeth II

portraits of Matthew Bolton and James Watt

Creating a crypto wallet and storing funds

The developers suggest using the official Gobyte wallet.

There are three versions of the program:

• Windows 32-bit, 64-bit.
• Linux.
• MacOS.

By visiting the official website https://gobyte.network/, you can download and install the wallet for free.

It is planned to soon introduce a mobile version of the crypto wallet and issue a debit card that allows you to cash out crypto coins and make transfers to bank accounts.

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Pound sterling currency information

Currency circulation territory: Great Britain | Guernsey | Jersey | Isle of Man | South Georgia Island and South Sandwich Islands | islands of Tristan da Cunha | British Antarctic Territory

Exchanges supporting GoByte (GBX). Exchange and withdrawal to fiat

Today, buy GoByte at:

• Cryptopia;
• Stock Exchange;
• Crypto Bridge;
• Coin Exchange

Trading platforms offer the following currency pairs for exchange and withdrawal to fiat:

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Currency exchange in the UK

If necessary, currency exchange in the UK is possible in banks that are open from 9 am to 3.30 pm daily. The offices of large banks are also open on Saturdays. There are also many exchange offices at airports, train stations, and hotels, where currency transactions are carried out around the clock.

You can use some post offices and ATMs, which are widespread throughout the country. However, banks will offer the most favorable rate, plus a small commission - 0.5% -1%. All operations are carried out with a passport. Visa, MasterCard, American Express cards, as well as credit cards and traveler's checks are used.

Crypto asset forecasts and prospects

Experts suggest that in the near future, the digital asset will show stability and sustainable rate growth. There are certain prerequisites for this.

The asset is interesting for investors and, accordingly, against the backdrop of a falling market, they will invest money in it.

In addition, according to unconfirmed information, an additional issue of cryptocoins is expected, the volume of which will amount to more than 10 million units.

It is for this reason that it is advisable to buy cryptocurrency while its value has fallen.

It is worth noting that even the smallest increase, for example, 3% per week, will increase your capital by 800% by the end of the year.

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Origin of English currency

Sterling is the oldest European currency that is still in use today. The origins of the English currency have a rich history. The first silver coin was introduced in 775. Money was minted from silver, and exactly 240 coins came out of 1 pound of the highest standard metal. Since then, 1 pound sterling has been the constant national currency of Foggy Albion.

Subsequently, there were coins of various denominations made of gold, silver, copper, tin and other metals: sovereign, guinea, shilling, penny. In 1971, the decimal system was adopted and all money was replaced by one coin - the penny, and 1 pound became equal to 100 pence.

Advice from Sravni.ru: The British pound is not as widespread in the CIS as the euro or dollar, but this does not stop the currency from being a reliable instrument for preserving capital and a stable way to invest in times of crisis. On the international Forex currency exchange, pairs involving the British pound are considered one of the most volatile, highly liquid and promising.