What Is Bytecoin? BCN Beginner’s Guide

Finally, it would also have to be added to other exchanges and platforms to be able to become one of the largest digital assets in the market. This digital asset was created in 2012 but its peak in terms of interest and price was in mid-2018, at the end of 2017 and in recent months. The main goal behind this virtual currency was to create a secure, private and fast digital asset to send and receive payments.

  • Bytecoin is a private, decentralized cryptocurrency with an open source code that allows everyone to take part in the network development of Bytecoin.
  • One of the more realistic predictions is by Cryptoground that believes that BCN price might increase to $0.0006 by the end of 2023.
  • As a primarily peer-to-peer (p2p) payment system, Bytecoin has many of the same use-cases as Bitcoin.
  • Due to the increasing skepticism and mistrust from the community, they decided to go public and share the names and structures of some of their departments.

Many crypto coins are created simply so their makers can make off with the money. As a result, the first big stage of 2018 will see Bytecoin perform a hard fork, which is planned for the end https://crypto-trading.info/opportunity-education-in-the-world-of/ of August. A hard fork is when the code of a blockchain is copied but changes are made to improve it. According to the Bytecoin team, this will make the network more secure and stable.

Bytecoin Blockchain

Bytecoin has two official wallets that are a desktop and web-based. There are plans for a mobile wallet to be released later in 2019. In any case, whichever option you choose, make sure to perform a backup once you have everything set up. It will save you a lot of trouble down the line, if there’s anything wrong with your wallet or PC.

  • In sharing his tacit knowledge, he believes to be supporting society in creating a transparent and just value exchange system that will abolish the disparities of wealth..
  • Continuing to hit their project milestones, the team also entered the Asian market in Q1 of 2018.
  • It was created in 2012 by a group of anonymous developers, which even to this day, still remain unknown.
  • At the moment, HitBTC users can get access to BCN/EOS, BCN/ETH, BCN/BTC and BCN/USD.

This is achieved by multiplying the current price of the cryptocurrency against the total amount of coins in circulation. Poloniex supports Bytecoin and you would be able to purchase this digital asset using this platform. Indeed, this is one of the exchanges with the largest trading volume for Bytecoin.

Its blockchain offers global, instant and private transactions that require no fees and are completely untraceable. Bytecoin is open-source cryptocurrency which is designed to facilitate anonymous cash settlement. It was the first cryptocurrency that was based on CryptoNote technology (application layer protocol for anonymous transactions by concealing sender, receiver and exact amount). The block time is two minutes, and the ticker of Bytecoin is BCN.

Recently, the team has released a roadmap update for Q4 2018 – Q1 2019.

Again, the success of this particular upgrade could see the price of Bytecoin increase. CoinLiker does not provide any data explaining how they got to their Bytecoin price prediction, though. This makes it difficult to decide whether the predictions are reliable or not.


Make sure you take a look at all the latest crypto and blockchain news. Created in 2012, Bytecoin (BCN) has the main goal of creating fast, anonymous, and untraceable transactions. It claims to be the first cryptocurrency to implement CryptoNote technology.

In order to do so, it would have to change the way in which operates, as it can be seen in the charts that it was used as a pump and dump virtual currency. Furthermore, this platform has standard fees and it would let you get access to many other digital assets besides BCN. Another solution created by this https://currency-trading.org/education/swing-trading-vs-day-trading-breakdown/ project is the so-called Blockchain Gateways. Over the last years, we have heard how important it is to have interoperability among blockchain networks. This is why the goal of Blockchain Gateways is to connect Bytecoin with other blockchain networks and expand its functionalities in the coming years.

History and Evolution

Bytecoin (BCN) is one of the most popular virtual currencies in the market. It became useful to those users that wanted to process transactions and take care of their privacy. However, the digital asset was not able to sustain its position https://cryptonews.wiki/footage-of-russian-election-rigging-as-vladimir/ in the market and it lost its position as the 500th largest virtual currency. BCN is tradeable on some of the most popular exchanges such as Binance, Poloniex, and OKEx, and has a market cap of $172,488,054 USD at the time of writing.

184066828814.00000000 BCN

Now, though, they’ve opened up multiple communication channels, removed some layers of anonymity, and even built several local communities. The second reason is that, with each boom-and-bust cycle, it becomes clearer crypto is not a bubble like tulip mania in the 1630s or the craze for Beanie Babies in the 1990s. Although bitcoin is a volatile asset, its price history looks more like a mountain range than a single peak, and appears closely correlated with tech stocks. An asset that swings up and down, and not in parallel with other things people might have in a portfolio, can be a useful diversifier. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.

CCMiner is another popular mining tool for computers with NVIDIA graphics cards. Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search. Besides that, HitBTC is also offering many other solutions for traders and crypto enthusiasts that want to get exposure to the crypto market. These four trading pairs for the HitBTC exchange represent 5.68% of the total trading volume of the BCN digital currency.