Obyte Turns 8: Exciting Updates, Listings, and a Glimpse to the Future
Christmas is here, and, at the same time, the Obyte birthday! Eight years ago, on December 25, 2016, the genesis unit of our Directed Acyclic Graph (DAG) came to life, bringing with it the total supply of GBYTEs and a message: “Let there be light!” — and there was light. Then known as Byteball, now Obyte, the ecosystem has fully decentralized and added numerous features over the years.In 2024, we were working to build new functions and applications, like in previous years. But perhaps, more importantly, we went through a major update last November to improve and decentralize the platform even more.Let’s explore what you can enjoy now!Perpetual FuturesObyte released the Pythagorean Perpetual Futures in January 2024 to bring a fresh twist to decentralized finance. These futures are tokens linked to an asset’s price, but unlike other futures contracts, they never expire and offer instant liquidity thanks to bonding curves. A remarkable feature is that these tokens work outside the app too, so you can use them for payments or in other DeFi platforms.These assets also come with governance tokens, letting users vote on changes, like trading fees or adding new futures. You can stake tokens for more voting power, with longer locks earning more influence. A fair presale ensures smooth distribution and helps prevent wild price swings. With this system, traders have more control, and the community helps keep things stable and adaptable to market shifts.Everything runs on Autonomous Agents that handle the futures without needing middlemen and strictly according to rules that cannot be changed by anyone. This means you get full transparency, independence, and a user-friendly experience. To get started, you just need to pick a futures token or join a presale that fits your goals. You can even create a completely new futures set if you want! Tokens can be traded anytime, giving you full flexibility to act on your strategies.New ListingsBetween February and June 2024, GBYTE, our native currency, was listed by two global crypto exchanges: NonKYC.io and Biconomy. The first one is an exchange that skips the usual identity checks (KYC), so is perfect for users who prioritize privacy since there’s no need to provide personal info to trade. GBYTE can be exchanged for USDT (Tether) and BTC (Bitcoin) here, making it a solid choice for those wanting quick, anonymous transactions.On the other hand, GBYTE also debuted on Biconomy, an exchange that applies efforts to be regulatory compliant and provides a wider range of assets and features. Biconomy offers a GBYTE/USDT trading pair on the Polygon network, making trading seamless and efficient. Users can choose to complete KYC for higher withdrawal limits and extra peace of mind.Both exchanges cater to different types of traders, giving GBYTE holders more flexibility. Whether you value privacy with NonKYC.io or prefer the regulated environment of Biconomy, both platforms enhance access to Obyte’s native token. These listings represent significant growth for GBYTE, increasing its usability and appeal within the crypto ecosystem.Spam Protection & SidechainsIn November 2024, Obyte rolled out its latest major network update, bringing some exciting improvements to its decentralized platform. One of them boosts Obyte’s defenses against spam and potential disruptions. The new system introduces dynamic transaction fees: bigger transactions now cost more, and fees rise if the network gets too busy.This smart fee structure keeps everything running smoothly, even under heavy loads and discourages attacks that could bog down the system. On top of that, an emergency OP replacement feature ensures the network stays alive and responsive, even in rare cases of sabotage, without needing a disruptive hard fork.The update also sets the stage for sidechains, opening up new potential use cases. With temporary data storage on the DAG, sidechains can use Obyte for ordering their blocks, skipping the need for separate consensus systems. This feature is handy for apps needing to post large chunks of data or for sidechains that want reliable ordering. Plus, a new GBYTE burning mechanism adds flexibility for sidechains while creating scarcity for the coin, which could benefit holders over time.Community GovernanceThe same network update from November brought another big change: the introduction of continuous on-chain voting for Order Providers (OPs). These 12 public nodes handle the crucial task of continuously sending waypoint transactions that are used by all validating nodes for ordering transactions, and now the community has full control over who gets to be on this list. Using their GBYTE balance as voting power, users can directly influence the network’s governance, making it more secure and democratic. This means no single group or hub can dominate the decision-making process anymore — a big win for decentralization!To make this process simple, Obyte has introduced a governance website where users can easily participate in votes. Whether proposing new OPs, supporting current ones, or tweaking fee structures, the platform ensures everyone’s voice can be heard. By offering a straightforward way to vote on-chain, Obyte not only boosts community engagement but also ensures the network remains adaptable, affordable, and secure.What’s next?All these updates push Obyte’s ecosystem further into the future, offering more decentralization, more options for users, and more community control.Community building, indeed, will be at the center of our attention in 2025. We’re developing new apps and engagement tools to reunite and reward our most loyal participants, and attract new ones. Stay tuned! But, for now, we can only say Happy Birthday to you as well, as an Obyte user, and a Very Merry Christmas!🎄🎁⭐️