ByteCoin (BCN) Price
- ByteCoin(BCN)$0.00070.0000(0.0000%)02:23:21(GMT)|Real-Time Data, Currency in USD
- Open$0.0007Day's Range$0.0007- $0.0007
- Market Cap$135.58 MVolume$11.35 K
- Current Supply184.07 BBCNMax Supply184.47 BBCN
- Proof TypePoW
- Market Cap$135.58 M
- Current Supply184.07 BBCN
- Max Supply184.47 BBCN
- Day's Range$0.0007- $0.0007
Bytecoin is a private, decentralized cryptocurrency with open source code that caters to those looking to keep their finances private. Bytecoin is the first cryptocurrency to be based on CryptoNote technology that removes the traceability of transactions across the Bytecoin network.
In contrast to fiat money that is processed through intermediary banks or financial institutions, transactions between Bytecoin users are carried out over the internet, with privacy delivered by way of secure cryptographic algorithms. The algorithms ensure that the amount sent, and the identities of both the sender and the receiver are concealed.
Transactions are verified by incorporating a proof-of-work algorithm that uses a script, which supports the use of CPU mining rigs.
The number of Bytecoin emitted every 120 seconds is slightly decreasing, supporting Bytecoin value, with the cryptocurrency protected from the only moderate declines in block reward.
New Bytecoin is created through the mining process, with miners being rewarded for the use of their computing power in orders to process transactions. Transactions are carried out every 120 seconds.
Bytecoin was released to the public in March 2014 after being created in 2012 by an anonymous team, with the total number of Bytecoin capped at 184.47bn.
Unlike fiat money, there are no physical Bytecoin, just balances of Bytecoin that are recorded on Bytecoin’s blockchain which is a decentralized, public ledger. Bytecoin was created to compete with Bitcoin and other true cryptocurrencies to become the choice alternative to fiat money.
Some distinct differences and characteristics of Bytecoin include:
- Bytecoin is run with a proof-of-work algorithm that also allows CPU mining with the use of the script.
- Bytecoin, also a peer-to-peer payment system, with many similarities to Bitcoin, did not come from a Bitcoin fork.
- While there are no limits to transaction sizes, the larger the size the larger the fee, Bytecoin looks to prevent the creation of block sizes that are too large by using an excess size penalty. In the event of an excess size penalty, the block reward is reduced.
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- Moving AveragesBUY(17)
|Williams %R (14)||-32.554|
|Stochastic RSI (14)||0.8967|
|Ultimate oscillator (7,14,28)||20.4483|
|Stochastic Fast (14)||67.446|