Review on Bytecoin by Othere Obtentus
Security and anonymity
Bytecoin is a private, distributed open source cryptocurrency that enables anyone to contribute throughout the advancement of the Bytecoin project.
BCN has one critical distinction from most other cryptocurrencies. It is the very first CryptoNote based altcoin. Industry professionals also call BCN an absolutely anonymous currency. One of the other benefits of this cryptocurrency include using ring signatures and also each-time cryptocurrency addresses. Another special characteristic of BCN is that it's not created from a bitcoin code fork. It was built from the very scratch, instead. The transactions will take a little longer to process, as transactions include cryptographic validation. Also, Bytecoin safeguards client funds with one of the most secure and advanced cryptographic algorithms that are supposedly impossible to hack.
Pros
- Based on CryptoNote
- Ring signatures
- One-time cryptocurrency addresses
- Free instant international payments
- Total anonymity
Cons
- Transaction speed is a bit slow
- Market statistics not much impressive
