Bytecoin (BCN) Will Be Listed On Atomars

What is Bytecoin?

Bytecoin has grown a reputation as a controversial project and cryptocurrency. Even though the project was not fully approved by the community, it ranks as one of the world’s top 40 crypto coins as of today.

The Bytecoin network was launched in July 2012, with over 80% of the coins pre-mined. There was initial rancor in the community at the early stages of the launch, as the identities of team members were hidden. With the growing skepticism and mistrust developing within the Bytecoin and general crypto community, they decided to reveal the names and structures of their departments. The cryptographic protocol specialists include Yael Taumann, Ron Rivest, and Adi Shamir, while Suzuki E. and Fujisaki E. are the people responsible for project buildup.

How Does Bytecoin Work?

The Bytecoin ecosystem is open to everyone who can mine or buy BCN tokens on crypto exchanges. Some notable features of Bytecoin include its reliability, transactions, deflation, and emission.

Bytecoin Transactions

BCN transfers are encrypted using secure cryptographic algorithm. This makes it difficult to know who sent money, who received it, and how much.

Transactions are also competed on its blockchain, making it possible for users to skip intermediaries such as banks, payment gateways, and other conventional systems. All that is required is for the user to have an internet connection.

Most blockchains keep transactions in a public ledger, which allows people to track transfers between wallets. Transactions from Bytecoin cannot be traced or linked, and are immutable. The network uses one-time keypairs and one-time ring signatures to achieve this.

The issue of address reuse is solved by the one-time public keys. This mixes identifiable funds with others in order to hide the trail of funds from the sender to the receiver. The one-time ring signature adds a unique signature to a set of randomly selected user signatures, which is why it is difficult or almost impossible to distinguish between your entry and that of other users with their keys in the ring.

Users of Bytecoin have the ability to control their signature level of secrecy. Normally, the more anonymous a transaction is, the more resources the network devotes to it, which will cause the transaction fees to be higher.

Bytecoin (BCN) will be Listed on Atomars

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