Review on Bytecoin by larueer kenbe

Name: Bytecoin
Item: Bytecoin
Rating: 3

September 15, 2018

For those who are looking forward for a way to take advantage of…

For those who are looking forward for a way to take advantage of cryptocurrency without having their actual identity linked with the transactions, this network is a way to provide the much needed privacy for them. It has different applications for businesses, customers and investors. However, it has been under the use of people from last few years. It has built up a strong reputation over this time. It is really easy to use and worthy to consider for those who are looking forward for more security with their cryptocurrency.
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Pros

Bytecoin is a private and decentralized cryptocurrency which features an open source code. Well, anyone can take part in developing this network. It stands out from the crowd when it comes to security and privacy. However, it markets itself as a solution for people who are looking for financial privacy with the help of cryptocurrency. With the help of this coin, users can perform private transaction quickly by sitting anywhere in the world to any other place in the world. However, all the transactions on this network are completely untraceable and you will have to pay no extra fees. It is because it is bound through the internet and it is automatically international, it is different from fiat currencies that have their own areas.

Cons

The reliability of this network comes directly from the fact that users help. You will have the option to let some of your computer’s power to be allocated for the operations of this network. However, the reliability of this network is determined by combining computational power of the computers that are processing the transactions. However, the processing power increases as the number of computers increase which increase the reliability of this network. It means while every single transaction, the money within your wallet will remain protected. However, the safety of your money isn’t dependent on the reliability of a network and it always remain safe.