What is Bytecoin?
A group of unidentified programmers decided to design a secure and decentralized cryptocurrency in 2012. This is how the Bytecoin was made. Fun point is that all company representatives are working using various nicknames. The chief aim of Bytecoin is to fix Bitcoin’s challenge with the huge requirement of power. As the code of this crypto coin is an open-sourced anyone can be engaged in the construction process of Bytecoins. The Bytecoin greatly appreciates the safety and secrecy of its users. A multitude of nodes are powering the Bytecoin and it’s operating on a blockchain. The key element of this system is CryptoNote. This is a protocol formed by Nicolas van Saberhagen and it lets Bytecoin be more lightweight for computers, ASIC-resistant and CPU-minable. This indicates that a common user can mine the Bytecoin. Also, this protocol supplied some big improvements to the system like the feature of unlinkable transactions or immunity to the blockchain analytics and many extra good things that keep the secrecy of the user on the highest level. The Bytecoin lets users generate numerous on-time addresses from a particular set of keys. As a result of reducing the emission period, the BCN gains value and is becoming more costly. In March 2019 the market capitalization of BCN equalled $137 million.