Senin, 29 Oktober 2018

Bytecoin (BCN)

Bytecoin is another type of crypto currencies. It's a private, decentralized cryptocurrency with open source code that allows everyone to take part in the Bytecoin network development. Privacy and security come naturally from using Bytecoin. The best solution for those who want to keep their financial privacy.
Instant private transactions are provided all around the world by the Bytecoin Network, they are totally untraceable, and they don’t require any additional fees.
Your can participate in the operation of the network by allocating the computing power of your computer. Due to this mechanism, transaction processing is decentralized, which allows a person to be not only a user, but also a participant.
Some sites allowed their members to pool mining for bytecoin such as Minergate, bytecoin.uk, eobot, bytecoin.party etc.
The decision entirely your choice, you are able to choose to take part in network maintenance and get a reward for it, or buy BCN directly on exchanges.
 
Bytecoin Transactions
The reliability of Bytecoin is defined by the total computational power of all the computers that take part in the processing of transactions. The greater the processing power, the more reliable the network.
In so doing all of the money stored in your wallet is already protected during the transaction process and its safety doesn’t depend on the network’s reliability. Your money is always safe.
Deflation
Bytecoins are gradually getting more expensive over time, since the emission is limited to 184.47 billion BCN. The number of Bytecoin emitted each 120 seconds is slightly decreasing. As a result BCN gains value and the exchange rate increases.
While currencies with sharp decreases of reward per block are exposed to intense declines in network power, Bytecoin emissions are decreasing slowly, which protects the currency from economic shocks.
Emission
The emission of fiat currencies is a closed process where an issuer is engaging in its own capabilities. One can’t take part in the emission process.
Bytecoin emission is an open process which employs the computing powers of all network members. Any user can join the Bytecoin network and take part in the emission process (thus, becoming a miner).
Fiat currencies are assigned to specific territories while Bytecoin is bound to the Internet and therefore is international by default.
Unlike fiat money transactions, where your money is processed through an intermediary, bank, or financial institution, transactions between Bytecoin users are carried out over the Internet which makes the transactions much more reliable. Transaction privacy is protected by secure cryptographic algorithms whereby no one can identify who sent the money, who the receiver was, and what amount of money was transferred.
 
Safety and Reliability
Cryptocurrency exchange is a service to buy and sell Bytecoins(BCN) for Bitcoins(BTC) and fiat currency. The exchange rate fluctuates in real-time based on the demand and supply of other users.
Bytecoin are supported by more than 10 exhangers.

Specifications
    Algorithm: CryptoNight
    Block time is 120 seconds
    Difficulty retarget each block
    Block reward decreases each block according to the formula:
    BaseReward = (MSupply - A)/218
    where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
    One coin is divisible down to 8 decimal places (divisible up to 10^8)
    Total coins: 18,446,744,073,709,551,616 atomic units (= 184.46 billion BCN)

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