What is Bytecoin (BCN)?

Jun 20, 2018 at 19:00

Coin overview

Bytecoin: Anonymous transactions on the blockchain

Functioning similar to Bitcoin, Bytecoin was launched in 2012 to focus on anonymity and security of users, dubbing itself “the first private untraceable cryptocurrency.”

Bytecoin said it is an open-sourced decentralized cryptocurrency with untraceable payments and is based on the CryptoNote technology—the first to use it.

Transactions on the platform are done over the Internet, therefore it can be done by anyone anywhere in the world, ensuring instant reliability. It also stresses on privacy because they are untraceable—minus additional fees.

The team behind Bytecoin—listed on its website Bytecoin.org—comprise of various developers. It was made for individuals for transactions with privacy; it was made for businesses to provide a business cooperation based on blockchain technology; and for investors to store their funds in a private and secure way.

Its underlying cryptocurrency is BCN, which can be bought through an exchange or one can participate in network maintenance and receive the token as a reward.

Where to buy?

As said earlier, BCN can either be bought or mined. If you decide to buy the cryptocurrency, it is available in Binance, HitBTC, Poloniex, Cryptonator, Coinspot, Alcurex, Changelly, Godex and Stocks.Exchange.

Is it mineable?

BCN has a total supply of 184.47 billion. It is an open process so any user can join in the mining activity. It can be mined in mining pools such as Minergate, Eobot, Bytecoin.party, Bytecoin.uk, Bytecoin Tuga, Bytecoin-pool.org and Bytecoin.cloud.