Symbol BCN
Established 04.07.2012
Website URL Link
Block explorer Link
Off. announcement​ Link
Founder amjuarez
Algorithm CPU mining, CryptoNight
Protocol POW
Reviews 0 / 0

Bytecoin is a decentralized, anonymous cryptocurrency launched on July 4, 2012.

Bytecoin is not a fork of Bitcoin, but a coin developed from scratch with the CryptoNote technology. In fact, many cryptocurrencies are forked from Bytecoin.

Bytecoin allows for instant and secure transactions around the globe.

Bytecoin was designed to function as a comprehensive financial system and integrate conventional businesses into the emerging cryptonomy. Bytecoin provides its users with a high level of privacy protection and a truly democratic way of mining.

Bytecoin has numerous advantages:

Untracebility and unlinkability of transactions thanks to ring signatures and one-time stealth addresses. A system of ring signatures signs a transaction on behalf of a group of random users which makes it impossible to find out who the senders or the recipients are. One-time addresses eliminate the possibility of linking transactions to wallets or see how much money is stored in a wallet.

An egalitarian PoW and analysis-resistant blockchain. The CryptoNote technology ensures privacy and anonymity of transactions. It uses a memory-bound algorithm called CryptoNight because of which GPU miners do not have any advantages in efficiency over CPU miners, while ASIC mining is not possible at all.

Bytecoin can be easily mined since this cryptocurrency is quite hardware-friendly.




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