What is ArtByte (ABY)?
Future of ABY Cryptocurrency and know how to buy ABY

#1 - What is ArtByte?

ArtByte: The Basics

  1. The virtual currency that lets you support your favourite painter, musician, photographer, designer, model, or writer; ArtByte is a cryptocurrency like no other. ArtByte gives fans the opportunity to support their favourite artists financially, rewarding the worldwide community of artists for their work.

ArtByte Development

  1. This digital currency was created by the non-profit ArtByte Foundation and launched in May 2014.
  2. Core team members include founder and president J. Michael Cabaniss, lead developer Peter Bushnell, Oliver Simon, and Mikko Ohtamaa.
  3. ArtByte was developed by combining the features of other cryptocurrencies such as Litecoin, Peercoin, and Dash.
  4. Later in March 2015, ArtByte's core wallets, forums, seed servers and mining pools were upgraded to meet public demand. The Twitter and Reddit Tipping apps, which enabled fans to tip the artists in ArtBytes, were released.
  5. In January of the following year, the ArtByte Music Store was opened, which accepted ArtBytes as payment for purchasing songs created by musicians having profiles on this platform.
  6. Bonuses for participation in community forums were introduced in March 2017. During the same time, Segwit was enabled, which allowed the use of lightning networks, atomic swaps and smart contracts.


#2 - What are the advantages of ArtByte?

  1. All sorts of artists are supported by the platform - painters, sculptors, editors, photographers, filmmakers, models, designers, writers, dancers, etc.
  2. ArtByte miners stand to profit from bonuses obtained by mining this token.
  3. The foundation describes ArtByte technology to be free from technical jargon and hence easily understandable by the average layperson. Its whitepaper does not mention its technical implementation. Instead, it talks about its model in simplified terms.
  4. It has been said that the ArtByte denomination is more intuitive. For example, a tip of 100 or 1000 ArtBytes is easier to understand as compared to a tip of 0.000183 Bitcoins.
  5. Artists can sell their work for ArtBytes, and fans and artists alike can earn ArtBytes by participating in related community forums.
  6. Artists get more exposure as the ArtByte foundation promotes them on social media streams such as Twitter, Reddit, Facebook, and Pintrest. Moreover, artists themselves can post their gigs or projects in community forums in order to attract a greater audience.


#3 - How to buy and store ArtByte?

How to buy ArtByte

  1. You can purchase ArtByte tokens from exchanges such as Bittrex, LiteBit.eu, and Cryptopia.
  2. With CoinSwitch, it gets even easier. The largest cryptocurrency conversion platform, CoinSwitch will compile a list of exchanges for you to execute your trade from one place.

How to store ArtByte

ArtByte wallets include an online, web-based version, and another app-based variant. Different wallet apps are available according to the operating system, namely Mac, Windows and Linux. These can be downloaded from the official ArtByte website itself.


#4 – What is the future of ArtByte?

Also Read: Complete Analysis of ArtByte | Live ArtByte (ABY) Price Charts And Predictions

  1. Since its inception in 2014, ArtByte has struggled compared to other cryptocurrencies to hold its ground. As of July 2018, the token’s market capitalization is $3.7 million, and the total supply is 792,537,250 ABY. The price of a single ArtByte is equivalent to $0.00477432 as of the same time.
  2. It has seen more than a 50% drop in its value between October 2017 to July 2018.
  3. Despite its underwhelming performance, it has been predicted that this price will increase by over 58% in September 2018 and by over 37% by December 2018. Certain fluctuations in the price are bound to take place, with the price predicted to drop by over 25% in April 2019.
  4. Many exciting developments have been proposed for the upcoming years including a Virtual Reality ArtByte Art Gallery.

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#5 - How is ArtByte different from other cryptocurrencies?

  1. ArtByte isn't just your typical buy-hold-sell type of cryptocurrency, there is so much more to it. With ArtByte, you have the chance to support the creative worldwide community, which includes over 25,000+ artists. ArtByte has been tailored specifically to meet the financial needs of artists.
  2. This currency and its usage has been targeted to be appealing to non-technical audiences, whereas the trade of other cryptocurrencies generally requires a certain technical know-how.
  3. ArtByte can not only be traded via exchanges, but also via the ArtByte Music Store and Tipping apps.
  4. The ArtByte team likes to point out that it has hundreds of thousands of followers on various social media platform including Twitter, Facebook, Reddit, and various ArtByte community forums.
  5. The linux source code has not been released on purpose, so that large mining pools don't overshadow or block out individual miners.


#6 - Should you invest in ArtByte?

  1. When you buy ArtBytes and use them to tip your favourite artist, the team would like you to believe that you are truly making a difference in the world. Essentially, if you want to help some creative individual earn money for his/her daily bread, go ahead and get those ArtBytes.
  2. Other investors may well point out to the promotion of ‘social media following’, instead of the technical implementation in its whitepaper, or a strong roadmap and future plan, being key issues.
  3. The coin has also consistently lost value and holds a marginal share of the total cryptocurrency market capitalisation.
  4. Of course, all of this can change. This is the crypto industry after all.
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