Dom Hofmann took to Twitter to reveal the new “looping video app” will go live in spring next year.
It already has its own website and social media accounts in place ahead of the launch.
Vine was founded in 2012 and acquired by Twitter before its official launch in January 2013.
By the end of 2015 it had around 200 million active users.
The platform quickly became popular for posting short videos including stop-motion animations and comedy sketches that went viral on wider social media.
However, in October 2016, Twitter announced it would discontinue the Vine mobile app and end the ability for users to post to the platform.
Then, in early 2017, it morphed the service into Vine Camera app, in which users could still record six-second videos but could only save them to their camera roll or upload them to Twitter.
It was met with a muted response and the six-second medium has since largely disappeared from social media.
Hofmann is yet to offer any more details on how Byte will work or an exact launch date. However, he confirmed it was the “V2” self-funded project he had previously teased online that was in development but was delayed earlier this year because of “financial and legal hurdles”.