1 Level
6 Review
1 Karma
Review on Bytecoin by Son Hueng Min
Transaction processing requires a significant amount of computing resources…
Transaction processing requires a significant amount of computing resources. Users who join the network can allocate time to the computer to process the transaction. As a reward they receive the BCN. This process is called mining.
Pros
- The transaction fee will be calculated based upon what the user would like to pay. The higher the fee they will offer the faster their transaction will be processed. This fee will be regulated by the market. Higher fee, the faster processing of transactions, lower fee, the transaction will be processed slower. About smart contracts, that is more directly connected with Ether. The Bytecoin team is working on anonymous tokens but this is still a good deal away.
Cons
- The community is not big enough and not connected.
