In the world of innovative technologies, almost everyone is familiar with the term "cryptocurrency". Electronic cash is represented by a mechanism of exchange, accounting and issuance of which are usually decentralized. A little time has passed since the first peer-to-peer currency appeared, however, the popularity of digital money is growing daily, thanks to a fixed limit on their generation. Developers are launching all new types of virtual funds, some of them are reliable and safe, while others exist for no more than 2-3 months. Lets talk about the Bcn cryptocurrency and its features.
Bytecoin is a relatively new cryptocurrency. The year of its creation is considered 2012. It is noteworthy that Bcn is not a fork of Bitcoin, like many types of digital money, but works on the unique CryptoNight algorithm created by specialists from the Darknet. The Darknet is a private network that uses innovative protocols and ports to operate. Darknet connections are made exclusively between trusted users who are involved in the distribution of coins.
Digital media designers usually set an upper limit on the total emissions. The cryptocurrency limit Bytecoin is 184.47 billion coins. Lets get acquainted in more detail with this type of electronic money in order to find out what it is, the Bcn cryptocurrency. Its features include:
Lack of tracking of transfers and payments.
Irreversible transactions without a bilateral cancellation agreement.
Unique protection against re-spending of electronic money.
Resistant to any kind of blockchain analysis.
Implementation of optimal settings.
Electronic money is analogous to real cash. Cryptocurrency has been legalized in several countries around the world. In Russia, it is considered a monetary surrogate. The issuer can be either an individual or a large company. When issuing virtual funds, encryption and cryptographic data security algorithms are used. The storage of digital coins, in this case, is the Bcn-wallet, the varieties of which will be discussed below.
The core of the negative attitude towards such money in Russia is the absence of a responsible center for issuing money and the irrecoverability of executed transactions, which can provide attackers with grounds for fraudulent actions. The operating principle of Bytecoin is fundamentally different from the system of circulation of fiduciary units and their electronic counterparts. Much less energy is expended to mine Bcn. Also, the cryptocurrency uses open source code, which is available on the global web.
As you know, absolutely every product or service has its positive aspects. Consider the advantages of the Bcn cryptocurrency:
Deflation. This property allows you to increase the purchasing power of the currency by reducing the value index. The positive dynamics of the growth of the Bytecoin rate is facilitated by the constant decrease in the number of mined coins. As you know, an intensive reduction in energy costs gradually reduces the production of coins.
Ubiquity. Unlike fiat units tied to a specific state, Bytecoin is an international currency that operates within a virtual network.
Maximum safety. The total computing power of the computer hardware involved in processing transactions increases the reliability of the network. What it is, Bcn cryptocurrency, we have discussed above. As for the security of digital funds on the accounts of e-wallet holders, they are maximally protected. An attempt to hack digital wallets will be unprofitable for cybercriminals, as it will require colossal energy costs from them, which will significantly exceed the possible illegal income.
Mining. To mine digital money, you dont need to buy expensive equipment. You can mine cryptocurrency on a medium-sized office computer.
Limited release. Every 120 seconds, 65 thousand Bytecoins are mined. The system verifies the authenticity and process of the transaction, which allows you to maximize the protection of funds on the Bcn wallet when making payments. The release limit of the last coin is 184.47 billion pieces.
Confidentiality. You can set a high level of confidentiality, which will make the name of the sender of the money and the amount of payment inaccessible to the recipient and unauthorized persons. The system uses a ring signature.
Bytecoin has 2 digital wallet options:
The first one is endowed with a graphical interface. Simple Wallet does not provide online payment, and it also displays a very small part of the data that must be transferred to the Bytecoin Wallet. The wallets work on the basis of LevelAPI, INode and Iwallet technologies, which can significantly increase their efficiency. The updated version of the High-Level API allows you to develop your own version of the electronic wallet of the Bcn cryptocurrency. You can download the Bytecoin virtual wallet at bytecoin.org. It is presented in several options:
Bytecoin Client Handbook. Includes command line and Simple
Bytecoin wallet. It presents all the possibilities of a digital wallet.
Bytecoin wallet that targets e-commerce.
Almost every version of the wallet is available for Windows 64, Linux, OS X. To get started, you need to download and install the desired version of the electronic wallet. The process of synchronizing with the global web is mandatory and can take a significant amount of time. Some users ask the question: "What is the Bcn cryptocurrency wallet number?" The address of the virtual wallet consists of 95 characters, which are located in its upper part and are a unique number intended for transactions. To send money, you need to open the currency sending section, enter the wallet number and the transfer amount.
Electronic currency attracts a new interested audience every day. Some users are thinking about mining, others are thinking about investing, and some prefer to buy Bcn on specialized exchanges for their further storage. Typically, the sooner a newbie registers a Bcn wallet, the more chances he will have to enrich himself in the future.