What is the Originator of Cryptocurrency-Bytecoin?

BCN (Bytecoin) is a non-traceable, decentralized cryptocurrency. Private, instant trading has been conducted since 2012 and it is one of the oldest cryptocurrencies. Bytecoin is primarily intended to address the anonymity of Bitcoin transfers.

Bytecoin is also the first cryptocurrency using CryptoNote technology. It uses the CryptoNight algorithm, which is more conducive to resisting ASIC mining machines to prevent over-concentration of computing power. The consensus mechanism adopted is the POW.

1. Advantages of Bytecoin

Many technology enthusiasts have summarized the advantages of bytecoin BCN as the following 6 points:

(1) Untrackable transactions: BCN includes two anonymous technologies, bit commitment and stealth address, which make the transaction chain untrackable and uncorrelated;

(2) Unlinkable transfer: Only the user knows the balance of the bytecoin wallet, the recipient and the transaction history, etc. If the user uses BCN, only the user can manage the wallet;

(3) Free instant international payment: All payments are immediately recognized and processed by the network within two minutes, and any byte currency user can immediately transfer any amount of money to any place in the world;

(4) Equal mining: Same efficiency with CPU or GPU for bytecoin mining;
(5) Powerful and flexible API: The bytecoin API has multiple purposes and multiple levels to meet the special needs of users. It is simple, fast and convenient to start the approval of the bytecoin payment process;

(6) Modular code base: It's easy to build a user's application on top of the bytecoin code module, and anyone can build their own bytecoin-based applications without having to explore cryptography and C++ details.

 

2. Disadvantages of Bytecoin

Although this project has many advantages, it also has some shortcomings, which is why the originator of the cryptocurrency has been silent for sveral years.

(1) The bytecoin price has been relatively low since its launch, and it did not break through $0.02 even at the highest price.

(2) As a veteran project released in 2012, the technology is original and excellent, the current popularity does not match the popularity it deserves, and even the Monroe coin developed by bytecoin completely crushes it in terms of market, price and popularity. The rebranding of bytecoin is very rare, PR is not satisfactory, and even the first community leader was welcomed until mid-July 2017.

(3) Bytecoin is an encrypted digital currency item with an extremely high original attribute. It is an anonymous private currency. Many features are very attractive, but there are many competitors.

Fortunately, so far, 2018 is a promising year for the small currency of BCN, it is one of the seven cryptocurrencies that gained a lot of money in 2018. In January, bytecoin market transaction price was close to $0.0057. At the beginning of May, its price was $0.018 (the highest historical price).

In addition, It also has an ambitious marketing strategy that reveals plans to expand into Asia, the Middle East and the African continent (pay more attention to bytecoin reddit news for more information).

In general, BCN should pay more attention to publicity and promotion. After all, what is the significance of the project if it is not known?

 

 

 

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