Bytecoin (BCN) is a decentralized and private cryptocurrency with an open-source code that aims to allow anyone to contribute to the Bytecoin network’s development. The network aims to ensure efficient operation with minimal cost allowing reduced fees benefiting the end user. The protocol believes in improving the existing financial system and designing and implementing the new ones. Bytecoin platform provides an alternative to the individuals who wish to keep their finance private as it seeks to promote privacy and security.

In addition, the network envisions developing a new and efficient financial system providing the same functions as the existing ones at a reduced cost for the users. The platform aims to have the following governing principles for this project:

The website states that the Bytecoin protocol seeks to operate on three primary technological aspects. The first one is untraceable payments, wherein Bytecoin seeks to use ring signature technology to sign a certain user's transactions on behalf of the group. As a result, a secure and entirely anonymous payment system is created. 

The second one is unlinkable transactions.  In a traditional blockchain, anyone may see the payment users have received and calculate the income. Thus, Bytecoin seeks to mitigate this risk by offering users with several, one-time addresses based on their public key. This prevents transactions from being linked.

Lastly, there is scalable blockchain. Bytecoin is a cryptosystem that does not have any hard-coded restrictions. It seeks to produce a flexible blockchain that responds to the condition and capacity of the network and generates a block every two minutes.

Furthermore, the network has BCN as the native utility token. BCN is the first completely untraceable token created using the Cryptonote protocol, a technology that is designed to provide innovative privacy features. BCN is the primary currency of exchange on the Bytecoin ecosystem, allowing users to trade in partnered exchanges, mining pools, and merchants.

The Bytecoin network was launched on July 4, 2012. Jenny Goldberg serves as the chief marketing officer for the Bytecoin network. The other team members include Gabriel Carranza serving as partnership manager, Harry Ullaman as communications specialist, Ngoc Thach Ho as blockchain engineer, and more.

BCN has a maximum total supply of 184,470,000,000 tokens.

We update our Bytecoin to GBP currency in real-time. Get the live price of Bytecoin on Coinbase.

The current market cap of Bytecoin is £7.542M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Bytecoin is £0.02277. This all-time high is highest price paid for Bytecoin since it was launched.

Over the last 24 hours, the trading volume of Bytecoin is £0.004.

Assets that have a similar market cap to Bytecoin include Moss Coin, Solomon, Boba Network, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Bytecoin is 184 billion.