Bytecoin (BCN) - Cryptonote | The first private untraceable cryptocurrency




  • What is Bytecoin?

    Bytecoin is 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.

    Fiat currencies are assigned to specific territories while Bytecoin is bound to the Internet and therefore is international by default.

    Technical documentation

    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)

    Sources

    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.

    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

    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

    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).

    Mining in the network results in the creation of new money, which serves as a reward for users who employ their computing power in order to process transactions.

    All transactions are carried out every 120 seconds. The 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.

    Bytecoin for Customers

    Bytecoin cryptocurrency works according to principles that are radically different from ones the fiat currencies and their digital analogues use.

    Alongside this it needs a modest amount of energy and human resources. This permits users to get along without transaction fees. It’s your quick start, with one of the most easy-to-use cryptocurrency networks, to be a part of the Bytecoin ecosystem.


    Your money is safe with Bytecoin
    Bytecoin is resistant to hacks. Cryptographic algorithms that we've used to power the currency are impossible to crack. Any attempt to figure out your account key would require an enormous amount of resources which makes an attack unprofitable.


    Bytecoin Protects your Personal Data
    If you set up a high anonymity level for your transactions, nobody will know where you receive money from or where you send it. This is entirely impossible to figure out.


    Instant International Zero-Fee Money Transfers
    Highly-developed infrastructure allows every user from all around the world to transfer their money instantly and without fees. The only thing you need is a device connected to Internet.


    Reliable Investment of your Resources
    The Bytecoin emission rate is decreasing over time, which means that the value of each BCN is gradually increasing. You may join Bytecoin mining or purchase BCN on an exchange. The value of your Bytecoins will only increase.


    Easy to mine on an average PC
    You can increase Bytecoin network security through currency mining for which you get rewards in BCN. Bytecoin algorithms offer no advantage to GPU mining which means that you can mine even with an average office computer. There is no need in buying ASIC devices.

    For Business

    Enterprise-ready solutions based on Bytecoin blockchain technology is your chance to start the safest business cooperation. We have created a currency that is convenient and reliable for businesses mostly oriented towards a digital sphere or those who'd like to renew the vision of common goods in a network sphere.


    Your money is safe with Bytecoin
    Bytecoin is resistant to hacks. Cryptographic algorithms that we've used to power the currency are impossible to crack. Any attempt to figure out your account key would require an enormous amount of resources which makes an attack unprofitable.


    Instant International Zero-Fee Money Transfers
    You can receive and make instant transactions without any fees all around the world. This is possible due to transaction processing being conducted by network users who are rewarded by the network itself. During transaction processing users have no access to the information concerning sender, receiver, or the amount of money transferred.


    Reducing your Business Risks
    Bytecoin is oriented towards fair and open business. The Bytecoin network offers fraud protection which makes automatic chargeback impossible. Once a deal is closed and the payment is sent no transfer can be returned automatically. The payment can be refunded only through the free will of the parties involved.


    Protecting your Private Data
    If you set up a high anonymity level for your transactions, nobody will know where you receive money from or where you send it. This is entirely impossible to figure out.


    Convenient tools for your business
    Bytecoin is an open network. All you need to join is Internet access. Detailed manuals and a simple setup allows you to accept Bytecoin hassle-free. We've made every aspect of Bytecoin as easy to use as possible. Should you require any assistance while setting up or using Bytecoin for your business, we will gladly help you.

    Bytecoin for Investors

    Got an idea to become an investor of a private and sustainable project? We've got the special solutions for those who like to store their funds in a private and secure way.


    Profits
    The annual dividend for the stakeholders XX% in USD and XX% in BTC.
    The Bytecoin ecosystem is extremely diverse which makes it very liquid by its nature.


    Safety
    You are the only person who has access to your investments. All coins are located in your desktop wallet that exclude any gateway to them by a third party which makes your investments secure.


    Privacy
    Untraceable deposits and withdrawals will make your investments inaccessible in all instances. No one will know the wallet address from where the coins came from. Save your transaction history and keep your balance away from prying eyes.


    Benefits
    For big investors there are some more unique options to make your money work for you.

    Contact us to learn more. Jenny Goldberg [email protected] Telegram: BCN_official

    Mission

    Humankind evolved in such a way that people have been learning to perform everyday tasks more and more efficiently, reasonable competition between old and new ways being the basis for the evolution. We know positively that there is space for improvements in any modern area of activity, including finances.

    The goal of any financial system is to ensure efficient operation of a currency with minimal costs. Said operation allows for reducing fees, benefitting the end users. We believe that improving existing financial systems, as well as designing and implementing new ones that would serve the same goals even more efficiently is a necessity.

    Our mission is to develop a new financial system, more efficient than the existing ones, i.e. providing all the same functions at less cost for the users. We have selected the following governing principles for this project:

    Self-regulation

    The basis for our financial system is a decentralized network that provides self-control for the costs required in the operation of the currency. Such an approach allows the Bytecoin financial system to determine the optimal state when operating efficiency is the highest.

    Openness

    The Bytecoin network is developed as an open one. It means that anyone who joins it not only uses the currency, but participates in supporting the system as well.

    Egalitarianism

    The network protocol is developed in such a way that both specialized and non-specialized computers would show congruent efficiency when operating on the network.

    The detailed description of Bytecoin network operation principles can be foundhere.

    Download:

    Web Wallet

    The easiest way to store your funds. Manage your money from any device 24/7 using our web wallet.


    Open Web Wallet

    Mobile Wallet

    Keep track and use your Bytecoin on the go. All of your finances at your fingertips with the Bytecoin Android Mobile App.





    Download APK v1.1.0

    Read Instructions

    Bytecoin Desktopversion v3.3.2

    We have made a new wallet available for our users, download and experience it today.


    Download for Windows 32-bit OTHER VERSIONS

    Windows 64-bit   Windows 32-bit

    Linux 64-bit

    MacOS </> Source code Release notes Bytecoin Daemonsversion v3.3.2

    Willing to accept Bytecoin? Check out our robust daemonized console RPC wallet designed for e-commerce projects.


    Download for Windows 32-bit OTHER VERSIONS

    Windows 64-bitWindows 32-bit

    Linux 64-bit

    MacOS </> Source code Release notes

    Exchanges

    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.


    Poloniex

    The largest BCN exchange in terms of trading


    HitBTC

    Large and innovative Bytecoin exchange featuring other CryptoNotes


    Bytecoin Web Wallet

    Exchange BTC and ETH to BCN with the Best Rates


    Coinspot

    Buy BCN directly and instantly using AUD


    Cryptonator

    Buy BCN for EUR/USD/RUR/UAH


    Changelly

    High-volume instant exchange accepting card and crytpocurrencies


    Stocks.exchange

    BCN/BTC and BCN/ETH pairs to trade


    Best Rate

    Exchange site that users can trade Bytecoin for crypto and vice versa


    Godex

    Exchange site that users can trade Bytecoin for crypto and vice versa


    Vebitcoin

    Turkish Crypto Exchange with BCN/TRY pairs


    TradeOgre

    New Crypto Exchange with a Simple Design


    Cfinex

    New Crypto Exchange with a Simple Design


    Crex24

    Cryptocurrency Exchange with Fiat Deposits and Withdrawals.


    Gate.io

    One of the largest Asia's exchanges with comfortable fees, robust security system and apps for iOS and Android.


    Bitexbook.com

    Bitexbook is an exchange with servers located in St. Vincent and Grenadines. They offer fast deposits, withdrawals and verification. 

    Mining Pools

    Mining pool is a mining service, which allows multiple users to combine their mining powers to generate one block and split the reward.


    Minergate

    The largest mining pool with an elegant graphic and 2% fees


    Bytecoin.uk

    Fee-free pool straight from the United Kingdom


    Eobot

    Bytecoin cloud mining made easy with any mining hardware


    Bytecoin.party

    New zero-tx fee pool


    Bytecoin Tuga

    Bytecoin pool with payments in PPS mode


    Bytecoin-pool.org

    Community-made pool with competitions


    Bytecoin.cloud

    Fee-free pool straight from the United Kingdom


    Mining-pool.guru

    Young pool with a friendly interface

    Multi wallets

    Store and use all your crypto-currency funds in one place.


    Freewallet

    Store and manage Bytecoin with ease in the smart and beautiful mobile-first cryptocurrency wallets.


    Cryptonator

    Securely store, easily receive and quickly send Bytecoin 24/7.


    Bitladon

    This beautiful Dutch wallet is a safe, fast, and easy way to buy or exchange Bytecoin. 


    SatoWallet

    Functional and accessible multi-currency wallet for Desktop, iOS and Android with some innovative features.

    Merchants

    All of the most popular places where you can use your Bytecoin in a hassle free environment!


    Gabo

    Art transformed into things for everyday life


    LeBytecoin.fr


    Bytecoinmarket

    Works of art inspired by French culture


    Dukley hotel & resort

    Five-star luxury hotel located in the heart of Montenegro’s Budva Riviera


    Star Brite Car Wash

    Wash your vehicle and pay with BCN


    Check-Coin

    Online store that offers electronic goods for Cryptocurrency


    Sheldon Store

    Buy Amazon, iTunes, Google Play, Uber and other gift cards with BCN


    Emaildatabasepro

    Buy the email databases of several different countries with BCN


    Domaine de Cromey

    Discover the best of Burgundy. Food. Wine. Experience


    Hosting For Services

    Web hosting service with the newest technology servers


    Payza

    Spend BCN/FIAT or receive payments online with ease


    RPM Accessories

    Gun accessories, paid for with BCN


    Coinpayments

    Integrated payment gateway for cryptocurrencies


    Bytecoin Fans

    Buy awesome Bytecoin merchandise


    HearFirst

    Shop For The Best Hearing Aids and Hearing Aid Prices


    Gemma LED

    Optimized LED plant growing lights


    Manta Medya

    Digital design


    MonoVM

    VPS, dedicated servers and hosting services


    1Gbits

    Dedicated servers from more than 20 locations

    Block Explorers

    Block explorer is a service which shows all the blocks generated with all the transactions in each block.


    Official Block Explorer

    Official BCN explorer to track transactions and other Bytecoin network data


    Minergate

    Block explorer to track transactions and other Bytecoin network data

    Calculators

    Currency convertor which is up to date with the current exchange rates.


    CoinMill

    Bytecoin fiat convertr in any known fiat currency


    Cryptonator

    An easy to use Bytecoin calculator with mobile apps available

    Gambling

    The list of the resources to play online using Bytecoin.


    BytecoinCasino

    Bytecoin casino with free bytecoin every hour, play our game whenever you want


    Luckygames.io

    Revolutionary Multicoin Casino

    Media

    Bytecoin-focused media resources


    BCNlog

    News, Articles and Analitics about Bytecoin in Russian


    Links:

    website:https://bytecoin.org/

    reddit:https://www.reddit.com/r/Bytec...

    twitter:https://twitter.com/Bytecoin_B...

    telegram:https://telegram.me/bytecoinch...

    youtube:https://www.youtube.com/channe...

    kakao:https://open.kakao.com/o/grDXB...

    blog:https://bytecoin.org/blog

    News & Updates:https://bytecoin.org/news



  • Bytecoin Roadmap - Q4 2018-Q1 2019

    Bytecoin Roadmap - Q4 2018-Q1 2019

    For the past several months the Bytecoin Team has been working on a series of very important features and innovations in the Bytecoin software. A lot of work has been done and now it is possible to put the release dates of these features on the timeline. Here is the Roadmap for the Bytecoin project for the end of 2018 - the beginning of 2019:

    December 12, 2018 is the date of the release of version 3.4.0 Beta. This major release of Bytecoin software brings a series of crucial innovations to the Bytecoin Desktop and the Bytecoin Daemons. All of these additions have appeared as the result of the research and development carried out by the Bytecoin Devs.

    These additions are: the anticipated HD wallets, unlinkable addresses, the new design of signature scheme, minimal anonymity enforcement, enhanced P2P protocol and auditable wallets:

    • An HD wallet - or Hierarchical Deterministic wallet -  is, in full,  a wallet that contains a tree-like structure that establishes parent-child relationships between keys. Apart from many technological advantages, it also allows for several usability and safety improvements. For instance, users can generate their cryptographic keys from a “mnemonic”, a set of meaningful words that are much easier to remember and manage than a long string of computer-generated characters.

    • The research into cryptography has produced another useful innovation - new, unlinkable addresses. This new cryptographic scheme allows to generate addresses that are practically impossible to link together. In addition, all new Bytecoin addresses start with the letters “BCN”, clearly indicating what kind of address the user is dealing with.

    • The new design of signature scheme brings much more compact signatures and allows for savings up to 50% inside the block for a more useful payload - more TXs.

    • This release also introduces the new minimal anonymity requirement. From the point of adoption of this feature, all transactions will be sent with a minimum anonymity of 3. The Bytecoin Devs have long noticed that a lot of users prefer to send TXs with 0 anonymity, probably aiming to pay a smaller fee for a smaller TX. While convenient from an economic point of view, this tendency contributed to reduction of effective anonymity of coins in the Bytecoin blockchain. This is by no means a negative phenomena - the Bytecoin Devs were surprised to see so many people liking Bytecoin for its performance and ability to send regular coins but nethertheless, have decided to enforce a minimum level of anonymity to keep Bytecoin true to its roots - anonymous, untraceable payments.

    • The improved P2P protocol should contribute to faster blockchain sync speed, more reliable connections between the nodes, and the overall network performance under the hood of the Bytecoin blockchain.

    • In addition, the new release introduces auditable wallets. What they facilitate are public deposits that can be viewed from multiple view-only wallets. The Bytecoin Team anticipates a lot of use cases for this feature.

    It is important to point out that that all of these features will be available in the Stagenet first. With this statement, the Bytecoin Team announces hardforks in the stagenet and in the mainnet. All features, apart from the improved P2P, will be available only after the corresponding hardforks:

    December 12, 2018 - the Stagenet hardfork

    March 6, 2019 - the Mainnet hardfork estimated date

    The next big announcement from the Bytecoin Team is the release of an updated bytecoin.money web wallet on the 18th of December. This popular resource will be redesigned and optimized.

    Finally, on the 14th of February 2019 the Bytecoin Team will release the Bytecoin beta software for hardware wallets. Hardware wallets are becoming increasingly popular and are a perfect solution for security-conscious users. Ring signatures are difficult to implement on specific hardware, so this is a major milestone for the Bytecoin ecosystem.

    The upcoming roadmap is probably the most diverse and innovation-rich roadmap so far. Stay tuned to the upcoming events.

    Best regards,

    The Bytecoin Team



  • Anonymity Improvements


    Anonymity Improvements

    Making an anonymous and untraceable cryptocurrency is, by no means, an easy task; blockchain is by default a public system. This is why Bytecoin developers were prompted to use unconventional methods to achieve anonymity: ring signatures to facilitate that anonymity and untraceable addresses to facilitate unlinkability. In this article, we want to examine these systems and describe what the upcoming changes to consensus regarding anonymity are all about.

    Ring signatures are an elegant solution to a complex problem: how to make blockchain verifiable, but at the same time preserve the anonymity of senders. They solve it by allowing senders to mix other coins into the transaction to obscure the true origin of value in it. This system offered seven degrees of anonymity to the users: from 0 to 6. This number corresponds to the number of outputs (sometimes called coins) that are mixed in with the senders output in the transaction.

    Bytecoin developers were surprised to see increased interest towards 0 anonymity. Turns out, users loved Bytecoin not only for its privacy and security, but also for its speed, reliability, and ease of use. It is important to say now, that by selecting 0 anonymity, the user still does not reveal their address (they are never revealed in Bytecoin). But what he does allow is anyone to track the movement of value between this user’s transactions within the blockchain by connecting coins created in one transaction to their spendings in other (this is called linkability).

    In order to prevent this, Bytecoin developers have decided to configure the daemon in the new release to send transactions with minimum anonymity being greater than 3. In addition, the mix-ins are now carefully selected only from those coins retaining their obfuscating value. This small adjustment makes all value movements obscure and makes all spendings more secure.

    While this configuration may generally require a little more economic effort (although 0 fee is still allowed), it brings a lot of value to the technology. Bytecoin has always been about security and privacy, and it is better to keep it true to its roots.

    You can test out the new features soon in the Amethyst Beta release on the 12th of December, 2018. Stay tuned!

    Best regards,

    The Bytecoin Team



  • Auditable Coins

    Auditable Coins

    There are a lot of uses for technology laid out by cryptocurrencies. Quite interestingly, a lot of them are centered around publicity. Smart contracts and public deposits are one of the most popular examples.

    The Bytecoin Team has long observed these blockchain technology trends, and wants to bring such functionality to life. While anonymity is at the core of Bytecoin technology, the Team believes that it could be successfully used in the realm of public technology. With the Amethyst release, the Team will present the result of a project that has been a long time in the making -- Auditable coins.

    Previously, users could send regular coins with any anonymity value, but this brought a certain degree of uncertainty in predicting which coins could be used for mixing with other coins. With the upcoming release, it was decided to make the minimum anonymity value of 3 for regular coins, and introduce auditable coins specifically for public technology applications.

    High-anonymity ring signatures for ordinary coins do not allow anyone but the wallet owner to know which coin was spent. Auditable coins feature a modified cryptographic scheme, which does not compromise the anonymity of our users, but allows them to give view-only wallet access to selected users.

    Auditable coins are the technology behind auditable wallets. Any person holding the auditable view-only wallet can see the balance of the host wallet, but cannot spend its funds. The strong anonymity properties of Bytecoin prevent any third party from knowing whether a coin has been spent, but they also make it difficult to create a view-only auditable wallet for trusted parties. In the current beta release, we enabled them in a limited form, only for specially created auditable addresses.

    An important property of the new auditable wallets is their security guarantee: it is impossible to either spend auditable coins from the host wallet in a way which would be invisible to the auditable wallet, or to tamper with the visible balance in any way. This makes the new technology suitable for high-security, zero-trust applications.

    All of this makes auditable wallets useful for several applications, including:

    • Public deposits. For instance, imagine a charity fund displaying an auditable wallet with donations for everyone to see.

    • Crowdfunding deposits. With this technology in place, users can vote for the projects they support with their BCNs.

    We are looking forward to see which applications of this technology  users will come up with.  Users can already download the software and test the new technological features with the Amethyst Beta release, available now in the Stagenet.

    Best regards,

    The Bytecoin Team



  • HD Wallets and Mnemonics

    HD Wallets and Mnemonics

    Mnemonics

    Just like any security system targeted at a mass audience, a cryptocurrency wallet file generation system has to satisfy two requirements:

    1. it has to be secure;

    2. it has to be easy to use.

    As one may conclude, it is not an easy task to combine these qualities in one product. A system is generally easy to use if it is easy to understand. Consequently, it is easy to understand if it is simple, and simplicity does not always equal security. With the development of the Amethyst Release, the Bytecoin Devs have chosen a design that has been tested by the industry and is familiar to users - mnemonics.

    Now when the wallet is created, the app generates a mnemonic - a set of 24 words in a certain sequence. This set of words can be used to recreate the wallet file, should it be lost or corrupted.

    It is important to note that not only do these words matter, but their order as well. The same set of words in a different sequence would create a different wallet file.

    But a user may have an arbitrary number of addresses that are not stored in a wallet file. How does the software know the user’s addresses? This is where HD prefix comes into play.

    Hierarchical Deterministic Wallet

    HD stands for Hierarchical Deterministic. This kind of wallet contains cryptographic information to establish a tree-like structure of the user’s addresses. The Bytecoin devs have spent a lot of time developing the cryptography behind new, unlinkable addresses and inspired by the BIP32 standard. As it stands from the new wallet’s name, these addresses can be generated in sequential fashion, thus eliminating the need to backup the wallet file every time a new address is generated.

    What makes the new addresses noticeable straight away is the bcn prefix that clearly establishes the string’s origin. As in the best traditions of software development, the new software is backward compatible with previous iteration of addresses and allows users to use wallets of both standards.

    These improvements have been anticipated for a long time and there is certainty that they will be greeted with excitement from the Bytecoin community. You can already try the additions for yourself in the Stagenet with the Amethyst Release Beta. This functionality will start working in the Mainnet after the February 2019 Hardfork.

    Best regards,

    The Bytecoin Team



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