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How ByteCoin (BCN) is the Only Coin Fulfilling Satoshi's Vision

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 issue with new proof-of-work functions, but up to this date only CryptoNight satisfies Satoshi’s original vision.

Secondly, Bitcoin is admittedly pseudonymous. Its blockchain is a ledger open to anyone, which makes any payment traceable and linkable. However, we believe that financial privacy is an important feature of electronic cash. Your transactions history should not be accessible to third parties, no matter if it’s government or marketers.
To address this issue Bytecoin has made sophisticated adjustments to the original cryptocurrency design. We were first to introduce both ring signature and one-time private keys (stealth addresses for each of the transaction’s outputs).
So it is time to accept the fact and invest in true cryptocurrency of the time.

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  1. Unknown17 February 2018 at 09:54

    Nice to meet your post. So good. Have you another site like investbitcoinira.com. I want to know more details about bitcoin.
    Thank you

    ReplyDelete

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