Review on Bytecoin by Syed Adnan
It is an old generational cryptocurrency.
It is a crypto currency that allows users to interact anonymously with others. Moreover, it is one of the oldest projects. It has gone private and guaranteed the protection of its users from third parties who want to engage in transactions.
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However, there are other competitors in the privacy currency, such as Monero and Dash, whose development has operated more strongly in recent years, and they have developed better and more privacy features.
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For example, Dash can use its InstantSend protocol to guarantee transactions within seconds. In addition to ring signatures, Monero has added other privacy technologies such as stealth addresses, ring privacy transactions and bulletproof.
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Pros
- It is a decentralized blockchain platform, so the more users are on the platform, the more secure the network.
- If you set a high anonymity level for your transactions, will not know where you will receive the money or where you have sent it.
- Easy to mine on an average computer.
- Over time emission rates are decreasing which means that the value of each currency is increasing slowly.
- Innovative security measures ensure that it cannot be hacked.
Cons
- A large take on currencies or a great use case and a limited supply can do that well. It does not tick these boxes as they are not likely to receive widespread adoption because of their supply.
