Bytecoin, also called abbreviated BCN, is a cryptocurrency, launched in July 2012. It differs from other cryptocurrencies by its design. This is the first alternative currency based on CryptoNote technology. It is completely anonymous and offers the advantage of allowing the use of ring signatures and single-use cryptocurrency addresses. Another feature that distinguishes it from Bitcoin and other alternatives is that it is not designed from a hard fork of Bitcoin code. Bytecoin was encoded from scratch.
According to its creators, Bytecoin is not just an anonymous alternative currency. It is also the first to be adapted to the use of the company. With Bytecoin, instant international payments are free. Its network works as fast as your internet connection. It should be noted, however, that each payment requires cryptographic confirmation, which may take some time. On average, claims are processed in less than two minutes.
Instant international payments without fees: Bytecoin network works as fast as the Internet. Your payments will take a little time to process because the payments require cryptographic confirmation. Bytecoin claims that transactions can be processed in about 2 minutes.
Security: Bytecoin ‘protects the user's money with the safest and most modern cryptographic algorithms' that 'are impossible to hack’.
To ensure its users a high security and thus protect their money, Bytecoin uses cryptographic algorithms among the safest and no less modern. The creators of this alternative currency ensure that their system is impossible to hack. This is why each user is the only one to have access to their own wallet.
When it comes to protecting data and private information, Bytecoin says it's simply not possible to get information about your transactions and the balance of your wallet unless you reveal that information yourself.
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