Obyte
GBYTE
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
GBYTE (Obyte) is a legacy DAG-based distributed ledger platform with features such as Oscript smart contracts, self-sovereign identity, and private transactions. While the project maintains a long-running active presence with a clean security track record (no protocol-level exploits, a patched 2022 wallet CVE, CertiK Skynet score of 78.63/BBB, and an active Immunefi bug bounty), it suffers from severe liquidity and market traction challenges. Development has slowed to a maintenance posture with limited recent visible milestones, community engagement is thin, and trading volume is negligible (~$5,100 daily) alongside a >99% drawdown from all-time highs. Supply distribution is mature with ~94% circulating and no major vesting overhang, and live on-chain governance exists but exhibits low voter turnout. No qualifying red-flag events were established.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Obyte (GBYTE)
GBYTE is the native asset of Obyte (formerly Byteball), a directed acyclic graph (DAG) based distributed ledger platform. The network does not use traditional blockchain blocks, instead utilizing a DAG data structure alongside a 12-address Order Provider committee for transaction ordering. The platform supports native functionality including Oscript smart contracts, self-sovereign identity, private currencies, textcoins, and Internet of Things (IoT) integrations.
The tokenomics of GBYTE feature a fixed, non-inflationary supply structure, with approximately 94% of its total supply (around 941,246 GBYTE out of roughly 996,000 total) in circulation. In addition to its native DAG ledger, a wrapped ERC-20 version exists via the Oswap bridge. In November 2024, the network executed a mainnet upgrade introducing on-chain governance, allowing token holders to vote on network parameters and elect Order Providers.
Obyte has experienced a severe market drawdown, falling roughly 99.6% from its all-time high of $1,185.39 to a market capitalization below $5 million, accompanied by low daily trading volumes and thin governance voter turnout. From a security standpoint, no protocol-level hacks or fund drains have been recorded, and the project maintains an active bug bounty program on Immunefi alongside a CertiK Skynet evaluation. A historical client vulnerability (CVE-2022-25642) allowed cross-site scripting and potential remote code execution through crafted chat messages in Obyte wallet versions prior to 3.4.1, which was resolved in a subsequent update.