OByte is a decentralized platform for storage and transfer of value. Transactions that transfer value are stored in a DAG-based structure which, unlike blockchains, allows unrestricted access for everybody with no blocks and no block producers.
Byte is the native token of the platform, it is the only token that can be used to pay for fees. Fees are redistributed among other participants of the network according to protocol rules. The fee is exactly equal to the size of the transaction data in bytes.
One can issue custom tokens on the platform, these tokens have their own rules. Both Bytes and custom tokens can be used for payments and making smart contracts enforced by all participants of the network. The platform allows storing data by oracles, and smart contracts can depend on data posted by oracles. Users are able to attest any information about themselves by linking it to their OByte addresses, such information can be e.g. user’s real name. Access to custom tokens and some applications can be restricted only to attested users, for example one can issue a token that is available only to KYCed users or only to accredited investors.