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{{Article for deletion/dated|page=Bytecoin (cryptocurrency)|timestamp=20181113194221|year=2018|month=November|day=13|substed=yes|help=off}}
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{{Infobox software
| title = BYTECOIN (BCN)
| logo = Bytecoin logo.svg
| author = PACIFIC_SKYLINE, AMJUAREZ and others.
| released = 2014
| programming language = С++
| platform = Windows, Mac, Linux, FreeBSD
| genre = Payment system
| website = [https://bytecoin.org bytecoin.org]
}}
[[File:Forks-tree-fixed.png|thumb|Forks tree for CryptoNote coins. February, 2016]]'''Bytecoin''' ([[ticker symbol]] BCN is the first [[cryptocurrency]] based on the [[CryptoNote]] technology with an [[open source]] code designed for anonymous cash settlement. BCN protects the user's privacy with impassive and anonymous transactions.

This is a completely independent currency, developing separately from [[Bitcoin]] and its [[fork (blockchain)|forks]]. The basis for the creation of Bytecoin was the unique [[CryptoNote]] technology.

== History ==
The identities of the Bytecoin (BCN) developers are not known. Bytecoin was released to the public on March 2014. Developers of the cryptocurrency had faked its discovery in 2014{{Citation needed|date=November 2018}}, claiming it was up and running from 2012. The dated signatures in the whitepaper were later proven to be fake.<ref>{{cite web|title=Blowing the lid off the CryptoNote/Bytecoin scam|url=https://cryptoblog.tech/is-bytecoin-a-scam/|website=Bitcoinalk}}</ref> By the time the 'discovery' took place, a little over 80% of Bytecoin's maximum supply had already been mined.{{Citation needed|date=November 2018}}

Since the launch, several improvements have been made, including multi-valued transactions and several security updates. In 2013, the original implementation of [[CryptoNote]] [[Java (programming language)|Java]] was rewritten using [[C++]]. As of 2015, Bytecoin has been forked more than 25 times. Bytecoin [[blockchain]] contains additional information not directly related to remittances: several blocks include the geographical coordinates of universities, educational institutions among other buildings.) is the first [[cryptocurrency]] based on the [[CryptoNote]] protocol with an [[open source]] code designed for anonymous cash settlement.<ref>{{Cite news|url=https://www.ccn.com/bytecoin-original-anonymous-cryptocurrency-jumps-250-comeback/|title=Bytecoin: The Original Anonymous Cryptocurrency Jumps 250% in Comeback|date=2017-05-18|work=CCN|access-date=2018-11-18|language=en-US}}</ref>

== History ==
With the exception of pseudonymous developer Harry Ullman, the identities of the Bytecoin (BCN) developers are not known.<ref>{{Cite news|url=https://www.ccn.com/interview-harry-ullman-bytecoin/|title=Will Bytecoin Eventually be the Preferred Currency for DarkNet? - An Interview with Harry Ullman of Bytecoin|date=2015-06-17|work=CCN|access-date=2018-11-18|language=en-US}}</ref> Bytecoin was publicly announced on March 2014, however the CryptoNote v1 whitepaper dates back to December 2012 and the original site shows the first block being mined on July 4th, 2012<ref>https://cryptonote.org/whitepaper_v1.pdf</ref><ref>{{Cite web|url=https://bytecoin.org/old/|title=Bytecoin|website=bytecoin.org|access-date=2018-11-18}}</ref>. The misalignment with the public release date and claimed launch time caused members of the Bitcointalk forum to investigate further, in which some found the dated signatures in the whitepaper to be fake.<ref>{{cite web|title=Blowing the lid off the CryptoNote/Bytecoin scam|url=https://cryptoblog.tech/is-bytecoin-a-scam/|website=Bitcoinalk}}</ref> Riccardo Spagni, a [[Monero (cryptocurrency)|Monero]] core developer said this was done to conceal a hidden premine, where by the time of public release 82% of the total supply would already be mined.<ref>{{Cite news|url=https://www.ccn.com/bytecoin-original-anonymous-cryptocurrency-jumps-250-comeback/|title=Bytecoin: The Original Anonymous Cryptocurrency Jumps 250% in Comeback|date=2017-05-18|work=CCN|access-date=2018-11-18|language=en-US}}</ref>

Since the launch, several improvements have been made, including multi-valued transactions and several security updates. In 2013, the original implementation of [[CryptoNote]] [[Java (programming language)|Java]] was rewritten using [[C++]].<sup>[''[[Wikipedia:Citation needed|citation needed]]'']</sup> As of 2015, Bytecoin has been forked more than 25 times.<sup>[''[[Wikipedia:Citation needed|citation needed]]'']</sup> Bytecoin [[blockchain]] contains additional information not directly related to remittances: several blocks include the geographical coordinates of universities, educational institutions among other buildings.<sup>[''[[Wikipedia:Citation needed|citation needed]]'']</sup>

In September 2018, Bytecoin announced a partnership with Chinese exchange Gate.io.<ref>{{Cite news|url=https://cointelegraph.com/press-releases/privacy-oriented-cryptocurrency-features-on-chinese-exchange-gateio|title=Privacy-oriented Cryptocurrency Features On Chinese Exchange Gate.io|last=Cointelegraph|date=2018-09-28|work=Cointelegraph|access-date=2018-11-18|language=en}}</ref> One month later on October 2018, Binance announced its delisting due to falling below their quality standard.<ref>{{Cite web|url=https://support.binance.com/hc/en-us/articles/360017720731-Binance-Will-Delist-BCN-CHAT-ICN-TRIG|title=Binance Will Delist BCN, CHAT, ICN, TRIG|website=Binance|language=en-US|access-date=2018-11-18}}</ref> Just one month after in November that year, Poloniex announced due to network instability, Bytecoin would require 2,000 block confirmations before users would be credited with the coins.<ref>{{Cite news|url=https://www.ccn.com/poloniex-requires-2000-confirmations-for-bytecoin-transactions/|title=Poloniex Requires 2,000 Confirmations for Bytecoin Transactions|date=2018-11-12|work=CCN|access-date=2018-11-18|language=en-US}}</ref>

== Features ==
{{Unreferenced section|date=November 2018}}
Bytecoin is an open source software. Cryptocurrency uses the principle of Proof-of-work ("Proof of work performance").

The algorithm for mining in Bytecoin differs in that it actively uses the [[AES instruction set|AES command system for x86 microprocessors]] and a large amount of memory, which makes mining on the [[GPU]] less efficient than for Bitcoin.{{Citation needed|date=November 2018}}

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[[Category:Cryptocurrencies]]
[[Category:Alternative currencies]]
[[Category:Currency introduced in 2012]]
{{DEFAULTSORT:Bytecoin (cryptocurrency)}}
[[Category:Open-source software hosting facilities]]
[[Category:Crypto-anarchists]]
[[Category:Computer-related introductions in 2012]]