ByteCoin (BCN) digital is the private untraceable cryptocurrency launched in 2012. Bytecoin is the first enterprise-ready solution. Fee-free instant international payments Bytecoin network exists in the Internet and works almost as fast as the Internet itself. Some time is required to process the payment, as it requires cryptographic confirmation.
Your funds are reliably secure Bytecoin protects users money with the most secure and modern cryptographic algorithms. They are impossible to hack. The hacking attempt itself would require immense amount of expensive electricity and computational power of a supercomputer. You are the only one who can access your wallet.
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Bytecoin could be an alternative to Bitcoin?
Like every other cryptocurrency prevailing in the market that followed the original concept of cryptocurrency influenced by the Bitcoin this currency also came up with some improvements and developments on the line.
First of all the main priority of the ByteCoin cryptocurrency will be to maintain the anonymity of the users in all transactions. However, Bitcoin lacks in that as the transactions are constantly tracked and analyzed by the firms all over the world provided that the BTC addresses aren’t that much simple to keep fully disconnected from their owners.
Like other cryptocurrencies focusing to provide competition to Bitcoin, Bytecoin came up with a real private and anonymous addresses. Their blockchain technology is enhanced with a unique technology which is known as the ring signature technology. Each addresses is sent to a different server during different transactions. The data is then blended and shortened and it picks up new information and leaves behind some more at every step. This makes the transactions totally anonymous and almost impossible to track.
Most other cryptocurrencies have already found this drawback of Bitcoin that is of anonymity and the top 10 are really good at it using the same ring signature technology. So why is ByteCoin (BCN) any different?
They have this one very important appeal and that is they can make it easier for the average guy use. ByteCoin’s official wallet is extremely easy to use and their concept and technology are very well organized. Many people are paying close attention towards ByteCoin’s current development and overall acceptance.