So is BYTE IOTA's biggest competitor
Which is better?
From my research so far they are apples to oranges, they are both strong contenders and probably going to end up as duel kings of DAG crypto.
IOTA = Internet of things.
Byteballs = DAG for people, smart contracts.
At the moment IOTA is worth $116 million, essentially a top ten crypto in terms of market cap. To me this tells me the marketcap is mature.
I have bought a few IOTA although not too many as the marketcap is already huge.
IOTA is designed for the internet of things and attempts to allow the internet of things to transfer value fast and without the scaling limits of a blockchain.
Then we have Byteballs which isn't aimed at IoT but rather being a DAG crypto for the people with smart contracts.
Importantly the marketcap of Byteballs is quite small and not as huge as IOTA.
I would say that Byteballls is an early stage DAG crypto and IOTA a late stage fully mature DAG crypto.