Mineable? If so how is it mined?
The Bytecoin (BCN) is a mineable cryptocurrency with a particular blockchain. In fact, it is the very first currency that depends on CryptoNote technology that uses CryptoNight mining algorithm. On the other hand, mining a Bytecoin is very easy but it is considered as one of the first-born cryptocurrencies. Nevertheless, you can mine this cryptocurrency by using either GPU or CPU depending on the version of your operating system.
Maximum Circulating Coins
The Bytecoin has total maximum circulating coins of 184.47 billion BCN. In fact, every after 120 seconds the total of BCN coins was being decreased slightly.
Bytecoin which is an anonymous cryptocurrency was successfully launched last July 4, 2012. After it was launch, several improvements were made, such as multiple value transactions as well as a lot of security updates. In fact, it has been forked for 25 times, however, the team behind Bytecoin remain transparent since their team focuses on privacy.
On the other hand, on March 2015, the Bytecoin project developers proclaimed their roadmap for various future releases. And some of these improvements are a payment getaway that is capable sending and receiving hundreds of transactions at the same time, smart contracts, and blockchain-based assets.
Nevertheless, the main goal of this project is to enhance the blockchain technology, stabilize the current system, and increase security.
What Makes It Different?
Even though Bytecoin is not popular compared to Bitcoin, Monero, and other cryptocurrencies, this cryptocurrency is highly praised. When it comes to privacy it is far better compared to other existing privacy tools. Simply because it protects user’s privacy with anonymous and impassive transactions. In addition, it guarantees every user a higher degree of anonymity. The official wallet of Bytecoin is very easy and simple to use as well as an all-around extremely streamlined.
It also utilizes different mining algorithm known as the AES command systems that are intended for x86 microprocessors. Even so, it is equipped with a larger amount of memory that makes mining in GPU less effective compared to other currencies like Bitcoin.
The Bytecoin cryptocurrency, on the other hand, is resistant to attacks and hacks since it uses a powerful algorithm known as CryptoNight.
Who is Behind Bytecoin (BCN)?
Amjuarez, Nicolas van Saberjahageed, Alexander, David Inostroza, and Diego Valencia are only a few of the many persons that are behind the development of Bytecoin cryptocurrency. It is a decentralized and an open-source cryptocurrency that comes with untraceable payments. In the year 2013, the original implementation of Bytecoin was written using C++.
However, the Bytecoin network values the self-regulation by means of a decentralized network just like any other cryptocurrencies. Since it is an open-source, anyone who is interested in this project can join the Bytecoin.
Official Website: https://bytecoin.org/
Announcement Thread link to BitcoinTalk: https://bitcointalk.org/index.php?topic=512747.0
Github source code link: https://github.com/bcndev