1 Level
22 Review
20 Karma
Review on Bytecoin by Lenon Cabrera
Basically Bytecoin is a currency that was born in the first generation of the…
Basically Bytecoin is a currency that was born in the first generation of the Blockchain in general, has a lot of experience and travel that makes it totally reliable without any doubt, however, both its technology and promotion throughout the ecosystem could improve its value over time, allowing for greater adoption and its growth in price.
Pros
- Bytecoin is a decentralized currency, where one of its main characteristics is the privacy it has, since no transaction carried out within its network can be tracked. Additionally, transaction fees are almost nil and are executed instantaneously which makes Bytecoin an excellent alternative to protect people's assets and more when large money transfers are made, because thanks to its cryptographic algorithms nobody can see who was the sender and receiver of the money and of course the amount that has been transferred. Another interesting feature is how the Bytecoin network becomes more secure and reliable, since it is proportionally linked to the total computing power of all the computers that maintain the network; and the more reliable computing power over time it becomes. All this makes Bytecoin safe for its implementation in natural and legal persons. The objective of the currency is self-regulation, frankness and egalitarianism that makes it work efficiently and with minimal costs. It is present in the exchanges with the greatest volume in the whole ecosystem.
Cons
- Due to its exaggeratedly high total supply, the currency does not have a great progress in the price in the medium or long term, which makes investors discouraged to participate in it. It is necessary to create communities in other countries, which translates into the need for more publicity about it and extending it to all regions of the world. The Wallet has had certain failures. Its technology and operation must be updated as the competition increases more and more having very good projects that also offer privacy and security to a greater extent.
