Know ByteCoin

Posts

ByteCoin (BCN) Trading Now Open on Poloniex

If you are also one of the guys who waited for months to get BCN trading done on Poloniex then today is the time for you start. Yes, You can scream in joy and jump all you want. Special Thanks to the BCN community and Team Poloniex for resolving it. To mention a few - @sydney40 @BCN_Official @CNTrade @ciscohite Special thanks to @jorritjaap for solving the wallet sync issue. and all our friends who signed the petition and voted for us on Poloniex. Happy BCN Trading

How to Get Blazing Fast BlockChain Sync on your ByteCoin Wallet

The Bytecoin Wallet needs a Bytecoin node to connect to in order te retrieve information from the blockchain. By default the wallet will start a local node. On first start this node needs to download all the history of the entire blockchain (around 7 GB) from the Bytecoin network. This can take several hours or even days depending on your connection. The process can be much quicker if you grab the blockchain and download it directly from the Bytecoin site . But you can also connect to a remote node. This will work out-of-the box, which is great if you want to just connect and get going with your wallet or as a backup if your local node is not preforming. Setting the connection to remote node is done in the preferences settings. From auto selection (which defaults to embedded) switch to remote daemon. That’s it! Just launch the wallet and you are connected. Below are the nodes you can connect to in RPC mode - node.bytecoin.ninja - port 8081 bcnrps.ebrahma.com - port 8081

How ByteCoin (BCN) is the Only Coin Fulfilling Satoshi's Vision

BitCoin emerged as the financial revolution and shocked all banks, governments & other concerned institutions. Having a universal currency is not a distant dream now but with the technological advancements in the field of mining, original dream of "The Great Satoshi Nakamoto" also got disrupted. In his whitepaper he mentioned - "Proof-of-work is essentially one-CPU-one-vote." Please refer to the snapshot from original whitepaper below - Now all those who think ByteCoin is fork of BitCoin, Its not. These are two entirely different codebases actually. Bytecoin (BCN) has a very different proof of work, called CryptoNight. As referred above, Satoshi’s whitepaper states that one CPU should be equal to one user vote. However, his assumption did not hold, since FPGA farms and ASICs were soon to emerge and provided their holders with extreme advantage over other users. There have been several unsuccessful attempts to address this issue with new pro

Why You Must Invest in ByteCoin (BCN)

I was reading an investment article recently and when I apply the key take aways from that article to my investment in Bytecoin, I realise there could not any better time or currency for me to invest it. Below are some basic rules of investing picked from that article - Markets tend to return to the mean over time. So if you think you have missed the flight when ByteCoin (BCN) was at its historical peak, You are wrong. History keeps repeating itself and ByteCoin would be touching minimum 10 cents very soon. There are no new eras, so excesses are never permanent. Today markets might be flooded with BCN but the moment graph start touching the new heights, people will start considering it as an alternative investment vehicle and will hold the coins for as long as possible leading to ByteCoin deficit in the market and even higher prices. The public buys the most at the top and the least at the bottom. What do you think when people realised investing in BitC

Why ByteCoin (BCN) is Suitable for Long Term Investors

All transactions are carried out each 120 seconds. Miners ensure that the transactions are processed correctly and provide cryptographic protection of transactions and personal data. However, miners cannot access users' financial data since Bytecoin protects the identity of the sender and the receiver, and conceals the sum transferred. As a reward, miners receive roughly 65,000 BCN (Currently 4848 BCN) each 120 seconds. Such approach allows both new money emission and zero-fee transactions. 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 exchange rate increase. While currencies with sharp decrease of reward per block are exposed to intense declines in network power, Bytecoin emission is decreasing slowly, which protects the currency from economic shocks.

5 Reasons Why ByteCoin (BCN) is Called Big Brother of BitCoin (BTC)

Untraceable payments The ordinary digital signature (e.g. (EC)DSA, Schnorr, etc...) verification process involves the public key of the signer. It is a necessary condition, because the signature actually proves that the author possesses the corresponding secret key. But it is not always a sufficient condition. Ordinary signature Ring signature is a more sophisticated scheme, which in fact may demand several different public keys for verification. In the case of ring signature, we have a group of individuals, each with their own secret and public key. The statement proved by ring signatures is that the signer of a given message is a member of the group. The main distinction with the ordinary digital signature schemes is that the signer needs a single secret key, but a verifier cannot establish the exact identity of the signer. Therefore, if you encounter a ring signature with the public keys of Alice, Bob and Carol, you can only claim that one of these individuals was the sig