The amounts you receive are proportional to your proven balances in BTC and Bytes on the distribution date, these are the rules for the November round: To prove your balances, install the wallet and chat with the Transition Bot (you find it in the Bot Store in the wallet).The bot will help you link your Bitcoin and Byteball addresses by making a micropayment or signing a message.You also receive blackbytes in proportion to your linked BTC balance and your balance in Bytes on the linked Byteball address.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.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. There are many channels with lively discussions about future developments, trading, auctions, to name just a few.Depending on the progress of other distribution methods, this round can be postponed or even canceled.
It is no longer necessary to trust any centralized exchanges.
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.
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.