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ByteCoin News

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  • Bytecoin (BCN) Upcoming events for the next 7 days October 16, 2019
    I will be bringing you upcoming events/announcements every 7 days. If you want improvements to this post, please mention /u/houseme in the comments. We will make improvements based on your feedback.   https://kryptocal.com | /r/kryptocal | Android | iOS | Telegram Interactive Bot (add cryptocalapp_bot) | Telegram Channel @kryptocal   ADD AN EVENT If you […]
    /u/cryptocalbot
  • Web wallet Recovery Code October 15, 2019
    Hi, how do you obtain a recovery code for the web wallet? Or are my coins just gone? submitted by /u/tgwaste [link] [comments]
    /u/tgwaste
  • Dear Community! October 15, 2019
    We’ve found a lot of suspicious companies that have similar names to Bytecoin. We want to remind our users that you can find the list of where you can buy/sell Bytecoin in the ecosystem section on our site. Please be careful! submitted by /u/BCN_official [link] [comments]
    /u/BCN_official
  • What is wrong with my wallet? October 9, 2019
    When I start downloading the blockchain, this message immediately appears. This message appears 3 or 5 times, then the synchronization process continues successfully. This is normal? Or should I replace the wallet and start the synchronization process again? https://i.redd.it/l9jabu81kfr31.png submitted by /u/lex6086 [link] [comments]
    /u/lex6086
  • The volume is dying October 6, 2019
    Volume (24h) ---------> $3,464 USD submitted by /u/SamerX [link] [comments]
    /u/SamerX
  • Just upgraded to 3.5.1, need to figure out how to move blockchain files to a different drive October 5, 2019
    Hey all, So I am waiting for the blockchain to fully sync with the new 3.5.1 (was running a much older version). Currently on Windows 8.1. After it's done, I would like to move the files to another drive, and point the BCN client at them. Other than making shortcuts in %appdata%, is there something […]
    /u/JTD121
  • How to Get Free Bytecoin with Instant Payout October 4, 2019
    submitted by /u/samair8 [link] [comments]
    /u/samair8
  • Bytecoin sitting in 10th place in the Battle of the Privacy Coins October 2, 2019
    submitted by /u/ContrastCrypto [link] [comments]
    /u/ContrastCrypto
  • Max’s Corner: Après Moi, Le Déluge, Or What To Make Of The Repo Bailout September 30, 2019
    submitted by /u/BCN_official [link] [comments]
    /u/BCN_official
  • When BCN20 ?! September 25, 2019
    Just When ? submitted by /u/SamerX [link] [comments]
    /u/SamerX

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What Is ByteCoin ?

Bytecoin (BCN) is the first cryptocoin using the CryptoNote technology that was released in July 2012 along an open source code created for anonymous cash settlement. Impassive and anonymous transactions are what protect the privacy of the Bytecoin users.

This currency is independent and evolves separately from Bitcoin and its alternatives. The unique CryptoNote technology is the starting point for the making of Bytecoin.

Bytecoin makes use of software that’s available for free to anyone. Crypto coin uses the Proof-of-work principle, also known as “Proof of work performance”.

Bytecoin uses a different mining algorithm as the AES command system is the one actively used for the x86 microprocessors with big memories, resulting in less efficient mining on the GPU when compared to Bitcoin.

The algorithm used is CryptoNight, a one of a kind type. The ring signature is the core of the algorithm and this is what give today’s top program anonymity. Ron Rivest, Yael Taumann and Adi Shamir invented the cryptographic foundation for the protocol in 2001, but it was E. Fujisaki and K. Suzuki who finished it in 2007.

Daniel Bernstein, an American mathematician, proposed the EdDSA scheme which is now the signature algorithm. Further transaction blurring was added to that base.

Because of CryptoNote and the obscuring added to the protocol, submissive mixing is given: all transactions in the system are done anonymously and everyone involved can use credible deniability, should a capture take place.

Bytecoin promotes itself as a totally incognito altcoin. Bytecoin mentions the next characteristics:

International payments with no limits and on the spot: the Bytecoin network is just as fast as the internet. Almost not transaction is processed on the spot since confirmations are needed for them to take place. However, Bytecoin says their payments will be done in no more than 2 minutes.

Safety: Bytcoin uses modern and secure crypto algorithms to protect the money of their users, and these algorithms are currently impossible to hack. [citation needed] Those who created Bytecoin said that one will need a lot of electricity and computing power from supercomputers to break into a crypto currency, which is expensive.

Safe personal details: Bytecoin affirmed that there’s no way to obtain any information regarding the financial transactions of an user, nor their wallet’s balance, especially if they don’t ever want to disclose this data. It is up to the user to share these details, as well as what exactly they share with a third party.