Total Coins: 3187
Total Market Cap: $ 17,108,792,331,866
24H Trade Volume: $ 5,748,498,878
ByteCoin (BCN)
BCN
$ 0.0022051652 ( -5.56%)
Mkt. Cap.
$ 0
Vol. 24H
BCN 0 ($ 0)
Open 24h
$ 0.0023348808
Low/High 24h
$ 0.0022051652 - $ 0.0023997386
Last trade
BCN 0 ($ 0) / Binance

Charts price for ByteCoin (BCN)

Loading chart ...
Loading chart ...
 

Description of ByteCoin (BCN)

 Bytecoin Origin

Release Date: 2012

The Bytecoin project was founded by a fully anonymous team. Bytecoin, was created as a digital asset based on the CryptoNote algorithm, with the main purpose of providing users with anonymous transactions. It’s meant to be mostly used as a peer-to-peer payment system. It’s worth noting that Bytecoin is one of the oldest cryptocurrencies in the market.

What is Bytecoin?

Bytecoin is an untraceable cryptocurrency that uses CryptoNote ring signatures to provide anonymous transactions. As a primarily peer-to-peer (p2p) payment system, Bytecoin has many of the same use-cases as Bitcoin.

Created in 2012, Bytecoin is one of the earliest developed cryptocurrencies. Until recently, the team behind the coin has kept themselves anonymous. Now, though, they’ve opened up multiple communication channels, removed some layers of anonymity, and even built several local communities.

The coin has a deep history with Monero, another popular privacy coin and fork of Bytecoin.

 Bytecoin functionality.

Bytecoin functions in a similar fashion to Bitcoin. But, some aspects were improved over its forefather. This primarily concerns user and transaction privacy. Additionally, the team has plans to improve on the coin’s scalability.

Transactions executed within Bytecoins ecosystem are completely anonymous, and unlinkable to one another. This feature also eliminates the possibility of address re-using.

 Block rewards are halved every four years, providing for a sensible miner reward decrease. There is also an excess block size penalty placed upon miners that attempt to bloat the system.