News Release - Gorbyte: Bitcoin Upgraded

PRESS RELEASE

July 18, 2017

Gorbyte: Bitcoin upgraded – A second Canadian crypto-network –
A more stable digital currency – Free financial transactions worldwide forthcoming – A new generation crypto-network.

Gorbyte promises to develop a crypto-network with similar security features as Bitcoin, similar ability to support distributed applications as Ethereum, but using a new cooperative consensus mechanism.

Gorbyte’s founder, Giuseppe Gori, announced that the company is now out of stealth mode and has published its web site. The web site includes introductory, technical and marketing information.

Gorbyte’s cooperative consensus will allow the elimination of miners, rewards, and fees. This will reduce the network energy costs to essentially zero, with consequent currency value and environmental advantages.

Furthermore, anyone with an online device will be able to become a node of the network and perform financial transactions for free, as a reward for sharing their resources with the network.

Gorbyte will also introduce elasticity in the money supply. Its rebased currency value in Gors, the Gorbyte currency in users’ wallets, will be more stable. This will improve its usability for salaries, loans, contracts and other normal currency uses.

Gorbyte wants to develop the preferred Distributed Operating Environment (DOE) for blockchain applications, supported by its free basic service model and enhanced by a profit-sharing scheme.