Dear ATOMARS Community,
We are delighted to announce the listing of Bytecoin (BCN) on Atomars exchange. Bytecoin (BCN) deposits are effective starting from December 23, 2019, and the following trading pairs will be available: BCN/BTC and BCN/ETH.
BYTECOIN PROJECT SUMMARY
Bytecoin is one of the cryptocurrencies that came on board in the early stages of the crypto boom. It was created in 2012 and launched in 2014 by a team that chose to remain anonymous until recently.
It seeks to solve the problem of inefficient financial systems, which is the same as what Bitcoin was created for. However, in the case of Bytecoin, it does this by improving upon other issues that surfaced with Bitcoin as well.
Just like Bitcoin, Bytecoin is a p2p payment system that is built using blockchain technology. That is all it shares in similarity with Bitcoin. It is different from Bitcoin in other ways like providing users with anonymity in transactions, and privacy through the use of CryptoNote ring signatures and stealth addresses.
Bytecoin is the world’s first cryptocurrency to use privacy-enabling technology, and it is the predecessor to Monero, which is a Bytecoin fork. It also predates other privacy-based coins such as ZCash, Dash, and others.
However, even though Bytecoin is the first privacy coin, it still falls behind in popularity compared to its fork Monero and some other privacy coins that are based on Bytecoin’s technology. The main reason for this is as a result of controversies that surrounded Bytecoin’s creation, especially due to the discovery in 2014 that over 80% of BCN was pre-mined way before the project launched.
This pushed Monero to become the privacy coin of choice, despite the fact that Bytecoin hit the market first and had the largest following. Today, Bytecoin is still as popular and remains in the top 100 cryptocurrencies, ranking at 71.
There are 184,066,828,814 BCN in circulation, and the maximum supply of Bytecoin is 184,470,000,000 BCN
BYTECOIN (BCN) FEATURES
Bytecoin is Decentralized
Bytecoin works using decentralized blockchain technology that operates several nodes located in different places around the world. It also has an open-source code that lets anyone take part in the development of the Bytecoin network.
Payments are Untraceable
Bytecoin makes payments untraceable by implementing a ring signature technology that works by mixing different outputs but with similar value into one transaction. This results in completely autonomous and robust payments. On the Bytecoin blockchain, all addresses are hidden to make it difficult, if not impossible, to identify transactions on the blockchain.
Transactions and Addresses are Unlinkable
Linking transactions using blockchain analytics is impossible in Bytecoin. This is because users are provided with one-time addresses that have been derived from their public key. This ensures no one sees the payments you have received, and neither can they determine how much was transferred or who the transaction was done with.
Bytecoin is Scalable
Bytecoin’s flexible blockchain has no constraints on hard-codes, which means it is able to readjust difficulty with each block to react to changes in the network’s hash rate. It is thus able to adapt to the state of the network and capabilities, which allow it to run smoothly and efficiently.
Bytecoin is Omnipresent
Bytecoin has a community of devoted followers, which ensures the project will continue to grow. The Bytecoin ecosystem keeps expanding with partners, merchants, integrators, and mining pools that ensure Bytecoin is available all over the world.