Blockchainless Cryptocurrency
One of the most interesting aspects of the digital currency revolution is the degree and speed of its innovation. Emerging from relative obscurity out of a crowded field of hundreds of new coins comes Byteball, which seems determined to break new ground.
On 6 December, 2017 Bitcoin Wednesday is proud to present its inimitable creator, Tony Churyumoff. Byteball, forgoes proof of work and the blockchain architecture for a more efficient DAG-based algorithm that shares some similarities to IOTA’s Tangle. While the rest of the world is trying to decide whether Bitcoin or Blockchain technology is here to stay, Tony will unveil the new paradigm contained within Byteball, which includes:
- An alternative, blockchain-less vision of security and trust, which Tony feels is Byteball’s unique proposition;
- Elements for a secure, open and decentralized environment for peer-to-peer transactions;
- Anonymous transactions;
- A system without miners which rewards those who are the first to confirm a transaction;
- A daring distribution model that eschews an ICO and gives away its tokens for free; and
- Smart contracts that are easy for anyone to read or write, even non-developers.
He will talk about what innovations are ahead for Byteball, and also ask and answer the question, “How much should we pay for storing 1 byte of data in a global database, permanently?”
Tony Churyumoff is the founder and chief developer of Byteball, a cryptocurrency platform he launched in December 2016 after two years of development. By December 2017 it already had a market cap of more than $ 170 million even though he distributed its native tokens for free. He previously co-founded, developed and sold several businesses in the fields of payments, information security and telecommunications. He has a PhD in physics and math.
Six Questions with Tony Churyumoff
1. What inspired you to create Byteball?
Initially, a desire to simplify blockchains by getting rid of the blocks.
2. What was the key to its early success?
Releasing new technology that was functional before the announcement.
3. What are your goals for the future?
To become the preferred environment for many kinds of economic activity.
4. Can you describe who you are as a person in a few sentences?
Had a few businesses, two of them were with successful exits.
5. Do you have any hobbies?
Paragliding.
6. What do you want the Byteball world to look like in the future?
An ecosystem where many businesses are founded and thrive.
