Know ByteCoin

If you are a mid to long term investor who invest for good 1 to 3 years of period then not investing in ByteCoin (BCN) would be sheer foolishness. BCN is bound to grow 100 folds in next one year as all major exchanges would be listing it very soon along with Wallets like Jaxx have announced their plans to add BCN.  Leading online cryptocurrencies payment gateway GoURL is also adding BCN to the list very soon. So, the best time to invest in BCN is TODAY !! So how do you get started with BCN ? If you an existing crypto investor, You probably hold some BTC or other coins which can be traded for BCN on popular exchanges like HitBTC , Poloniex , Cryptopia . You can now either keep them in your exchange or bring them to your wallet.  USERS NEW TO CRYPTOCURRENCIES If you are a new investor and like me have decided to start investments journey with ByteCoin, then below are the steps to be followed -  Step 1 Get The Wallet Download the ByteCoin wallet for your OS ...

If you are also one of the guys who waited for months to get BCN trading done on Poloniex then today is the time for you start. Yes, You can scream in joy and jump all you want.  Special Thanks to the BCN community and Team Poloniex for resolving it.  To mention a few -  @sydney40  @BCN_Official @CNTrade @ciscohite Special thanks to @jorritjaap for solving the wallet sync issue. and all our friends who signed the petition and voted for us on Poloniex.  Happy BCN Trading

The Bytecoin Wallet needs a Bytecoin node to connect to in order te retrieve information from the blockchain. By default the wallet will start a local node. On first start this node needs to download all the history of the entire blockchain (around 7 GB) from the Bytecoin network. This can take several hours or even days depending on your connection. The process can be much quicker if you grab the blockchain and download it directly from the  Bytecoin site . But you can also connect to a remote node. This will work out-of-the box, which is great if you want to just connect and get going with your wallet or as a backup if your local node is not preforming. Setting the connection to remote node is done in the preferences settings. From auto selection (which defaults to embedded) switch to remote daemon. That’s it! Just launch the wallet and you are connected. Below are the nodes you can connect to in RPC mode -  node.bytecoin.ninja - port 8081 bcnrps.ebrahma.com - p...

BitCoin emerged as the financial revolution and shocked all banks, governments & other concerned institutions. Having a universal currency is not a distant dream now but with the technological advancements in the field of mining, original dream of "The Great Satoshi Nakamoto" also got disrupted. In his whitepaper he mentioned -  "Proof-of-work is essentially one-CPU-one-vote." Please refer to the snapshot from original whitepaper below -  Now all those who think ByteCoin is fork of BitCoin, Its not. These are two entirely different codebases actually.  Bytecoin  (BCN) has a very different proof of work, called CryptoNight. As referred above, Satoshi’s  whitepaper  states that one CPU should be equal to one user vote. However, his assumption did not hold, since FPGA farms and ASICs were soon to emerge and provided their holders with extreme advantage over other users. There have been several unsuccessful attempts to address this issu...

I was reading an investment article recently and when I apply the key take aways from that article to my investment in Bytecoin, I realise there could not any better time or currency for me to invest it. Below are some basic rules of investing picked from that article -  Markets tend to return to the  mean  over time. So if you think you have missed the flight when ByteCoin (BCN) was at its historical peak, You are wrong. History keeps repeating itself and ByteCoin would be touching minimum 10 cents very soon.  There are no new eras, so excesses are never permanent. Today markets might be flooded with BCN but the moment graph start touching the new heights, people will start considering it as an alternative investment vehicle and will hold the coins for as long as possible leading to ByteCoin deficit in the market and even higher prices.  The public buys the most at the top and the least at the bottom. What do you think when people re...

All transactions are carried out each 120 seconds. Miners ensure that the transactions are processed correctly and provide cryptographic protection of transactions and personal data. However, miners cannot access users' financial data since Bytecoin protects the identity of the sender and the receiver, and conceals the sum transferred. As a reward, miners receive roughly 65,000 BCN (Currently 4848 BCN) each 120 seconds. Such approach allows both new money emission and zero-fee transactions. Bytecoins are gradually getting more expensive over time, since the emission is limited to 184.47 billion BCN. The number of Bytecoin emitted each 120 seconds is slightly decreasing. As a result BCN gains value and exchange rate increase. While currencies with sharp decrease of reward per block are exposed to intense declines in network power, Bytecoin emission is decreasing slowly, which protects the currency from economic shocks.

Untraceable payments The ordinary digital signature (e.g. (EC)DSA, Schnorr, etc...) verification process involves the public key of the signer. It is a necessary condition, because the signature actually proves that the author possesses the corresponding secret key. But it is not always a sufficient condition. Ordinary signature Ring signature is a more sophisticated scheme, which in fact may demand several different public keys for verification. In the case of ring signature, we have a group of individuals, each with their own secret and public key. The statement proved by ring signatures is that the signer of a given message is a member of the group. The main distinction with the ordinary digital signature schemes is that the signer needs a single secret key, but a verifier cannot establish the exact identity of the signer. Therefore, if you encounter a ring signature with the public keys of Alice, Bob and Carol, you can only claim that one of these individuals was the sig...

Bytecoin cryptocurrency works according to the principles that are radically different from ones the fiat currencies and their digital analogues use. We have created the currency that is convenient and reliable to use in the internet. Alongside with this it needs modest amount of energy and human resources. This permits to get along without transaction fees.   Your money is safe with Bytecoin Bytecoin is resistant to hacks. Cryptographic algorithms that we've used to power the currency are impossible to crack. An attempt to figure out your account key would require enormous amount of resources which makes an attack unprofitable.   Easy to mine on an average PC You can increase Bytecoin network security through currency mining for which you get rewards in BCN. Bytecoin algorithms offer no advantage to GPU mining which means that you can mine with gain even on an average office computer. There is no need in buying ASIC devices.   Bytecoi...

The proof of work mechanism is actually a voting system. Users vote for the right order of the transactions, for enabling new features in the protocol and for the honest money supply distribution. Therefore, it is important that during the voting process all participant have equal voting rights. CryptoNote brings the equality with an egalitarian proof-of-work pricing function, which is perfectly suitable for ordinary PCs. It utilizes built-in CPU instructions, which are very hard and too expensive to implement in special purpose devices or fast memory-on-chip devices with low latency. We propose a new memory-bound algorithm for the proof-of-work pricing function. It relies on random access to a slow memory and emphasizes latency dependence. As opposed to scrypt, every new block (64 bytes in length) depends on all the previous blocks. As a result a hypothetical "memory-saver" should increase his calculation speed exponentially. Our algorithm requires about 2 Mb per i...

Here is the roadmap's visual representation with the features described below. Image areas are clickable. All of the updates mentioned on this page are in active research or development stages. This page is updated with each new release.

Bytecoin is an open decentralized cryptocurrency. Anyone interested can join Bytecoin network and take part in currency development. As well as the Internet, Bytecoin is international by its nature. Bytecoin allows safe and secure transactions around the globe and offers the convenience of instant fee-free money transactions. In order to distinguish Bytecoin network from Bytecoin currency, the latter is referred to as BCN. For instance, current Bytecoin emission rate is 65,000 BCN each 120 seconds. Learn more about Bytecoin Bytecoin employs open source technology. You can familiarize yourself with  the source code and cryptographic algorithms of all programs . If you happen to be a mathematician, a cryptographer, or a programmer we're eager to  discuss  any technical details about Bytecoin that you might find interesting.