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Frequently Asked Questions for end users on zbyte
The zbyte wallet is an essential tool for managing your digital content on Web3. It acts as a secure and user-friendly vault for storing your digital assets, including Non-Fungible Tokens (NFTs).
With the zbyte wallet, you can rest assured that your digital possessions are well-protected and under your full control. It empowers you to have complete ownership of your content, ensuring you can access, transfer, and showcase your assets and collectibles with ease and confidence.
zbyte is an open platform designed specifically for Web3 applications. Developers utilize zbyte to craft decentralized applications, commonly known as “dApps,” while end users can easily explore and engage with these dApps.
Web3 refers to the next generation of the internet, which is designed to empower users like you with greater control and ownership over your digital presence and assets. Unlike the traditional Web2, where centralized entities govern much of the online experience, Web3 leverages blockchain technology to enable decentralized applications (dApps). This decentralized approach ensures transparency, security, and privacy, granting you more autonomy when interacting with digital content, making transactions, and managing your digital assets. In essence, Web3 puts the power back into your hands, allowing you to have a more personalized, secure, and self-sovereign online experience.
Smart tokens are digital assets you can own. They are created by brands, communities, or content creators and may give you access to unique benefits, discounts, and experiences. You can safe-keep them in your zbyte wallet and interact with them.
A blockchain is a revolutionary technology that records and stores information in a secure and transparent way. Instead of being controlled by a single entity, like a bank or a company, a blockchain is decentralized, which means many computers around the world work together to maintain and update the records on a shared digital ledger.
Every piece of information added to the blockchain is stored in a “block,” and each block is connected to the one before and after it, forming a chain of blocks—hence the name “blockchain.”
Blockchains are most famous for their use in cryptocurrencies, but they can also be used for various other purposes, such as keeping track of ownership for digital assets, enabling secure voting systems, and much more. The transparency, immutability, and decentralization of blockchain technology offer numerous benefits and exciting possibilities for the future of the internet and digital interactions.
Accessing your zbyte Wallet is designed to be both secure and convenient. When signing in, you have the option to use your preferred social identity (e.g., Microsoft, Google, or Facebook) for authentication. Rest assured that your social media password is not stored on the zbyte platform, enhancing the safety of your account.
Once you’ve signed in and while your session remains active, you won’t need to repeat the authentication process.
For added protection and the ability to access your Wallet from different browsers or devices, we recommend setting an additional Wallet passphrase. To do this, navigate to the “Profile” section within the zbyte Wallet (located in the top right corner, represented by your Avatar or your first name initial). From there, select “Profile” and then “Security Options.” Here, you can create a passphrase that is easy to remember yet strong enough to keep your Wallet secure.
If you’re curious about the technical aspects of this process, zbyte uses secure MPC (Multi-Party Computation) technology to safeguard your account. While traditional Web3 wallets utilize a single keyphrase to generate the private key, MPC divides the keyphrase into three parts. One part is linked to your chosen social media login, another part is securely stored in your browser, and the third part is created when you set up your secure passphrase. To gain access to the private key, two out of the three parts are required, ensuring robust protection for your Wallet.
Protecting your privacy is a fundamental principle of the zbyte platform. When you sign up using a social login (e.g., a Microsoft, Google, or Facebook account), your social identity remains securely stored within zbyte and is never shared with developers, dApps, or any external entities (*).
The only information shared with application developers is your Wallet address, a standard Web3 pseudo-anonymous (**) identifier that does not contain any personal details. Additionally, zbyte ensures that you have full control over what specific information you choose to share with a particular dApp or its developer/brand.
For a comprehensive understanding of our privacy practices, you can review the zbyte Privacy Policy at zbyte.io/privacy-policy. Your trust is essential to us, and we are committed to maintaining the highest standards of privacy and security throughout your experience on the zbyte platform.
(*) zbyte may use standard Web analytics tools such as Google Analytics and Pendo to enhance the platform’s performance and usability. The data collected through these tools is solely accessible to zbyte and the respective tool providers.
(**) Please keep in mind that the Wallet address is not entirely anonymous. As with all public blockchains, any transactions you conduct can be seen by everyone, potentially allowing inference of certain information about you.
The ZBYT token (symbol: $ZBYT) holds significant utility within the zbyte platform, enhancing your experience while interacting with Web3 applications and blockchains.
In the world of blockchain transactions, you may encounter “gas fees,” which are required to complete transactions. Different blockchains and applications may use different cryptocurrencies for these fees. However, the zbyte platform simplifies the user experience by enabling you to transact across all supported blockchains using the single ZBYT token.
Beyond covering transaction fees, the ZBYT token also serves as the payment method for dApps available in the zbyte dApp Store. Depending on the pricing model set by developers, you can use ZBYT tokens for one-time payments or subscriptions to access and utilize these dApps.
Additionally, as an end user, you may have the opportunity to earn ZBYT tokens. Some dApp developers may offer rewards for trying out and promoting their applications, providing an incentive for active participation within the platform ecosystem.
Blockchain transaction fees, often called “gas fees,” are a unique aspect of the Web3 ecosystem that differs from traditional payment methods on the Internet (Web2).
In the conventional Web2 environment, you might pay for apps and services using a credit card, either as a one-time payment or through subscriptions. Additionally, certain apps and services may be offered for free but funded through a business model that the enterprise or developer has, potentially based on selling your personal data.
However, Web3 operates on a decentralized model, where security, storage, and computing power come from a network of multiple computers and participants. Monetization based on selling personal data is discouraged on Web3. Instead, to cover the costs of maintaining the expansive and highly secure network infrastructure on blockchains, certain fees, known as transaction fees or “gas fees,” are applied when performing actions such as transferring, using storage, or executing smart contracts on the blockchain.
The good news is that the zbyte platform is designed to shield you, as an end user, from most of these complexities. The platform enables developers to handle gas and transaction fees on your behalf if their business model permits them. This way, you can enjoy a smoother and more straightforward user experience. That being said, occasionally, you may see a transaction fee payment request, and you can quickly pay the fee with the ZBYT token.
The zbyte platform currently operates on “TestNet” of blockchains only. During this phase, the only way to obtain ZBYT tokens is to request free test tokens from within the zbyte Wallet. To do so, enter the wallet at wallet.zbyte.io, click on the wallet balance, and choose the “Add” function.
Once the zbyte platform goes onto MainNet, you will be able to use the same “Add” function to explore ways to obtain tokens.
The zbyte dApp store will be a one-stop shop for you to discover and download Web3-enabled applications (dApps).
It is quite similar in user experience to traditional app stores for mobile and desktop applications. However, it operates in a decentralized way, applying Web3 principles. It brings together developers of innovative Web3 dApps and an audience of end users.
Log into wallet.zbyte.io with your chosen social login. Locate your profile icon on the top right of the wallet screen – a round profile icon with your profile image or your first name’s initial. Click/tap the profile icon to open the profile screen. Below your profile information is a green box with your Wallet address (it starts with 0x).
As an end user, you interact with the zbyte platform primarily through the applications (dApps) that were built using this platform.
In addition, you will own a zbyte Wallet, which you use to interact with the dApps and which contains your digital assets.
To sign into your zbyte wallet or sign up for the first time, visit wallet.zbyte.io/
To learn how to develop Web3 dApps on the zbyte platform, please visit zbyte.io.
zbyte Foundation is the non-profit responsible for overseeing the growth and evolution of the open-source zbyte platform, its community, its $ZBYT token, and the dApp store.
The zbyte Foundation will establish a DAO (Decentralized Autonomous Organization) to operate the zbyte platform in a decentralized manner.
We greatly value your input and are committed to enhancing your experience on the zbyte platform. To provide feedback or seek support, please visit zbyte.io/enduser-support.