One of the two Obyte currencies. When you want complete privacy, pay in blackbytes, a cash-like untraceable currency whose transactions are not visible on the public database. They are sent peer-to-peer instead. Blackbytes work better on laptop/desktop machines with more CPU power than smartphones.
Blackbytes is the name of one, the first, defined private asset in Obyte. Obyte supports user-defined assets, the assets has properties such as private or public, amount of coins, coin-denominations and if any authentifiers is required for transferring, or if the asset is transferrable.
Blackbytes are defined as a private asset, meaning its never posted to the public Obyte database, it is ever only transferred when Obyte wallets have paired, private assets are sent encrypted through the Obyte network from device address to device address. When used over Tor, blackbytes become anonymous, and only the device-address can be known to the Obyte network.
To verify that a peer has not sent the same blackbyte to another peer before attempting to trick you into accepting it again, a spend-proof is posted to the public Obyte database. Upon receiving the blackbyte your full-wallet/light-wallet-hub provider, checks the spend-proof. The spend-proof does not contain amounts or sender/receiver information, it is merely a signature.
If blackbytes are traded on a centralized exchange, the exchange would have enough information to reveal the origin and destination of blackbytes, and amounts traded, which defeats their purpose.
Blackbytes hence can only be traded on decentralized exchanges, with conditional payments in the Obyte wallet. Peer discovery has to happen outside the Obyte wallet. Such an exchange is yet (August 2018) to appear.
- Start a light wallet on one of your computers/smartphones, do not use revealing device name for the wallet, pick something like localhost or Obyte.
- Enable Tor in the Global settings menu, this requires that you have tor installed or Orbot on Android, a tor-proxy for any Android app.
- Send your blackbytes to this wallet, and use it to trade with and pay for goods and services.
All private assets
With wallet version 2.3, you can send any private asset by textcoin, not only Blackbytes. To maintain privacy, Blackbytes are sent peer-to-peer and contain the entire history of the coin. That is why they carry a lot more information than public textcoins and have to be delivered as digital files.
So, unlike regular textcoins sent as Bytes, Blackbyte textcoins must be transferred via a medium which permits the sending of digital files, such as email or WhatsApp.
- Technical discussions
- @loyce's bitcointalk Blackbytes FAQ
To receive blackbytes (BB/GBB) if you do not have any yet, try doing it this way: start a chat with paired device, click INSERT ADDRESS in chat menu, now the owner of the blackbytes can click your address and he will see an option to send blackbytes to you. You will need some bytes in your wallet to pay the fee for the blackbyte transfer.
It is also possible to trade BTC and GBB as described in Trading#Peer-to-peer_Byte-BTC_exchange, only using GBB instead of GB.