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About The BYTUS PRIVATE BLOCKCHAIN

The Bytus Private Blockchain network will ensure all information is out there in the open to every user to ensure transparency and security of the highest order. Any transaction made by a user and their initiation to exchanging tokens are public information which allows for free transactions in the internal operations . The blockchain has a centralized method of confirming the transactions. A transaction can only be initiated by the owner of the private key assigned to each user making it impossible for anyone else to spend the asset tokens except for the owner.

The Bytus Private Blockchain is based on the Graphene chain protocol. Graphene is an open-source code that can significantly reduce bandwidth in the block propagation process. The graphene source code is available in numerous variations, as has been forked and adapted many times. Graphene is interesting, since it is modular in nature, so it is adaptable to different uses. Graphene technology has the capabilities for massive scalability, potentially supporting hundreds and thousands of transactions per second.

The private blockchain has attracted more than 1,000,000 retailers from around the globe which has opened up the possibilities for a Bytus-based economy. The retailers on the Bytus network accept payments through the Bytus wallet which makes it easier and safer for both parties involved in the exchange.

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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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