If you've been following my blog over the past few months you'll know im a bit of a cryptochaser and FIM (Free Internet Money) is my favourite. If there's an Airdrop out there I've probably sign up for it and posted about it to get more people involved but the FIM's have dried up as the market as been bearish as ever over the past few months.
## Steem Hype Train
Every so often something hits steem and Steemians lose their minds for the next week or so all posting their opinions about it, Happened with DMania, Steem Monsters and now this Byteball thing. I have to admit I havn't jumped on many of the hype trains of late and completely ignored the Steem Monsters and was about to do the same to Byteball until I saw it was pretty easy to score a couple of dollars which I thought I could use to power up my account.
## How to claim Byteball?
* Use my [link](https://steem-byteball.org/#ZCTV5H6HUOITVYGGDJBMRN3FTN54GRSZ )
* Download the Wallet
* Select "Receive" tab to copy your address
* Send me your address in the thread below
* I will quickly approve your request
* Click on "Chat"
* Then "Bot Store"
* Then "Steem Attestation Bot"
* Click the "..."
* Enter address and sign in
* That's it, free Byteball to do with as you wish!
## How the Byteball payouts work?
The airdrop is rewarded to the following Steem accounts:
* Steem reputation above 30: you get a $10 reward
* Steem reputation above 40: you get a $20 reward
* Steem reputation above 50: you get a $40 reward
* Steem reputation above 60: you get a $80 reward
* Steem reputation above 70: you get a $160 reward
Since im on a rep of 56, I got to claim $40 dollars, $20 to spend and $20 locked into a Smart contract
## Why is Byteball giving away money to Steemains?
Byteball believes that mass adoption requires wide distribution, that's why 99% of all bytes and blackbytes are to be distributed for free. Since Steem is one of the few remaining places on the internet with an active cryptocurrency loving audience it makes sense to want to get the fanatical bunch that we are involved in their project and using our current profile as a KYC of sort.
If you have a crappy reputation and you still want to earn more Byteball there is some good news for you. Currently there are several ways to particpate in getting some more Byteball if you're keen on it and the instructions are available on their website.
## Not the first Aidrop and surely not the last
In the past, they also distributed Bytes to BTC holders and existing holders of Bytes. Users used to link their BTC and Byteball addresses and were receiving new Bytes in proportion to their existing balances in BTC and Bytes. This distribution was split into several rounds.
The first distribution round took place on Dec 25, 2016 when the network launched, over 70,000 BTC was linked, and 10% of the total supply of bytes and blackbytes was distributed. In the subsequent rounds, the total distributed supply reached 64.5%:
## What is Byteball?
Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
Blockless design is simpler because there are no blocks, there are only transactions. Users just add their transactions to the end of the DAG themselves, they don't have to wait when miners create a new block and there is no guesswork whether miners will include your transaction in the block.
The consensus algorithm used to protect from double-spends is based on establishing a total order within the DAG. This is achieved by selecting a chain, called main chain, which gravitates towards units issued by commonly recognized reputable users — witnesses.
**ATOMIC EXCHANGE**
When two parties sign a single unit that executes both legs of the exchange, the two transactions either happen simultaneously or don't happen at all. It is no longer necessary to trust any centralized exchanges.
**MULTI SIGNATURE**
For security, you can require that your funds be spendable only when several signatures are provided, e.g. from your laptop and from your phone. For shared control of funds, signatures from different people may be required.
**IMMUTABLE STORAGE**
Once stored in the Byteball database, the data can neither be revised nor removed.
**REGULATED ASSETS**
Regulated institutions can issue assets that are compatible with KYC/AML requirements. Every transfer of such asset is to be cosigned by the issuer, and if there is anything that contradicts the regulations, the issuer won't cosign.
**ON-CHAIN ORACLES**
When dealing with untrusted counterparties, you can lock the funds on an address that is spendable either by you or by the counterparty, depending on the events registered to the database by trusted data providers — oracles.
**SETTLEMENT FINALITY**
After certain criteria are met, a new transaction becomes final. It cannot be revised even by a powerful attacker. No guesswork about the right number of confirmations, no 51% attacks.
**For more information on Byteball**
* [Website](https://byteball.org/)
* [Wiki](https://wiki.byteball.org/Main_Page)
* [Whitepaper](https://byteball.org/Byteball.pdf)
* [Coinmarketcap](https://coinmarketcap.com/currencies/byteball/)
## Have your say
Have you heard about this Byteball thing? What do you make of it? Why is the value so darn high for this obscure cryptocurrency? Also whats with the 75% value smart contract lock in period? So many questions I need to be answered and I'm not keen on reading another whitepaper. If you have done a review on Byteball in a post or video, drop your link and ill check it out.
## Let's connect
If you liked this post sprinkle it with an upvote or esteem
## Follow me
If you don't already, consider following me @chekohler
## Previous posts in this series
* [Claim $2 In Free $XZC Tokens in the ZCoin Airdrop](https://steemit.com/cryptocurrency/@chekohler/claim-usd2-in-free-usdxzc-tokens-in-the-zcoin-airdrop)