What is Bytecoin?
Bytecoin (BCN) is a cryptocurrency started on July 4, 2012 . Bytecoin was developed from scratch and is based on the CryptoNote technology. So Bytecoin is not a Bitcoin fork, but a unique cryptocurrency.
- True anonymity & data protection
- Untraceable payments uses ring signature
- Unlinkable transactions with random data by the sender
- Blockchain analysis resistant
- Only CPU-mining & ASIC-resistant
- POW mechanism is a voting system for users
- Algorithm: CryptoNight
- Block time: 120 seconds
- Difficulty retarget each block
- Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/2^18 where MSupply = (2^64 - 1) atomic units and 'A' is amount of already generated coins
- One coin is divisible down to 8 decimal places (divisible up to 10^8)
- Total coins: 18,446,744,073,709,551,616 atomic units (= 184.46 billion BCN)