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Review on Bytecoin by Gulak Adebayo
Bytecoin (BCN) is the first cryptocurrency launched in July 2012. It is the…
Bytecoin (BCN) is the first cryptocurrency launched in July 2012. It is the first Altcoin based on CryptoNote technology. Altcoin is often called "completely anonymous cryptocurrency". It uses both ring signatures and one-off cryptocurrency addresses. There are two ways to get bytecoins. You can use your computer's computing power to help maintain your network. Or directly from the exchange (most major exchange list BCN).
Pros
- Fee-free Instant Payment: Processing takes some time, as payment requires encryption verification. Bytecoin Claims transactions are processed in about two minutes. Security: Bytecoin's creator claims "you need expensive supercomputer's electrical and computing power to hack" the currency. Because of this, you are the only person who has access to your wallet. Secure Personal Information: Bytecoin claims "it is absolutely impossible to obtain information about your financial transactions and wallet balance" unless you decide to divulge the information. Only you can manage the information displayed to business partners and third parties.
Cons
- There are lots of projects in it's category offering one or all of it's services like zcash,verge, dgb e.t.c that has achieved way better than it.
