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ABOUT BYTUS TOKEN

The Bytus utility token is backed by Ethereum and is the medium of exchange in the Bytus ecosystem. It provides the much needed unit of account to the Bytus users that they will be able to use to buy goods and services through Bytus’s global network of retailer . The token will represent the user’s channel width i.e. the higher the number of tokens a user has the more transactions they will be able to make in a specified time. For instance, a user who has 10 tokens will be able to make up to 10 transactions in 24 hours . Once a transaction has been made with a token it cannot be used for 24 hours. The frozen token can be brought back to the main account then. The Bytus blockchain works on POS 2.0 and the token is charged at 3% per annum on the account balance in the wallet.

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It is a private network based on the Graphene chain protocol. The main feature of the technology will be its excellent throughput. It allows for greater facilitation of micro payments, enabling us to achieve our goal of making cryptocurrency the world’s most common medium of exchange.
The Bytus wallet allows users to store almost all cryptos available in the market. Users are able to either convert them into fiat quickly and without any hassle or they can use these currencies to make online purchases on our network of sellers. The standout feature is that they do not have to pay any transaction commissions on these purchases.
The cryptobank is the institution that allows Bytus users to convert their cryptocurrencies into fiat money. Users can also use it as a currency exchange where they may change their currency into the unit of account in the Bytus ecosystem i.e. Bytus token.
It is the unit of account in the Bytus ecosystem. Any retailers you find in our network of sellers will accept the Bytus token in exchange for their goods.
We have a vast portfolio of retailers that is growing every day. These retailers become a part of our private blockchain network for the added security and the ease of conversion into fiat without heavy transaction fees.

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