The Byteball brand.
In the cryptocurrency field, Byteball functions as a brand name, as do Bitcoin, Ripple, Ethereum, Dash and all the 500+ others. The space is becoming increasingly commoditized, and as Bitcoin loses its dominance a crypto brand needs a unique selling point in order to stand out from the crowd. The Byteball USP at this point in time is its conditional-payments feature. No single crypto brand is going to be all things to all people, for buying a coffee, buying a house, immigrant workers sending money back home weekly, a store of value just in case, a simple contract, a complex contract, validating real estate ownership, and lots more. A crypto must select its best niche market and concentrate on that.
Byteball features
• The killer feature is the Smart/Conditional Payment. You set a condition for how the payee receives the money. If the condition is not met, you get your money back. This substitutes for trust between strangers because neither is able to scam the other.
• This smart-contract feature has many real-world peer-to-peer applications, including:
no-fee crypto exchanges
sports betting
selling or buying insurance concerning negative events like a flight delay.
• Private payments can be made using blackbytes, a cash-like untraceable currency. Its transactions are not visible on the public database that shows all payments made with (white)bytes. Blackbytes are sent peer-to-peer instead in an encrypted chat session.
• Chatbots are fun and faciliate real-world transactions, including shopping with a merchant and paying with two clicks.
• There are the usual features like transactions cryptographically linked to each other in a decentralized, immutable (unchangeable), blockexplorer-like record; irrevocable, unstoppable payments with no third-party involved; storing savings untouchably outside the system; multi-signature security; yada yada yada. Tiny transaction fees though. Oh yes, no blockchain or miners.
