Obyte, previously known as Byteball, is a decentralized platform that focuses on data management and smart contracts. Unlike traditional blockchains, Obyte uses a directed acyclic graph (DAG) structure, which allows transactions to be confirmed without the need for mining. This design aims to reduce transaction costs and increase speed.Obyte employs a unique way to store data and execute smart contracts, making it versatile for various applications, such as payments, data storage, and decentralized applications. It also supports conditional payments and multi-signature capabilities.One of the standout features of Obyte is its emphasis on privacy. Transactions can be conducted privately, giving users greater control over their data and financial information. The native currency of the Obyte platform is called Byteball coins (GBYTE), which can be used for transactions and as a means of measuring value within the ecosystem. Overall, Obyte aims to provide a more efficient and user-friendly alternative to traditional blockchain solutions.