1 Level
6 Review
2 Karma
Review on Bytecoin by Adrien Dylan
Bytecoin is an open cryptocurrency. If you decide to start using the currency…
Bytecoin is an open cryptocurrency. If you decide to start using the currency, you can voluntarily take part in the operation of the network. The only thing you need to do is download special software that creates a wallet for you. Using this software, you can start sending money to other users or receive payment from them.
Pros
- Fee-free instant international payments: The Bytecoin network works as fast as the internet. Bytecoin “protects user’s money with the most secure and modern cryptographic algorithms” that “are impossible to hack”. The makers of Bytecoin claim that hacking the currency “would require immense amount of expensive electricity and computational power of a supercomputer”. For that reason, you’re the only one who can access your wallet.
Cons
- Payments on the Byte network takes a little bit of time to process, as payments require cryptographic confirmation.
