Oldest Privacy-Focused Crypto Coin
Bytecoin is one of the oldest anonymous cryptocurrencies dating its appearance to 2012. It is mainly focused on the privacy of the user, and its long record of success shows the stability of the Bytecoin. The coin’s ticker symbol is BCN; it supports mining by using the Egalitarian Proof-of-Work algorithm. This algorithm allows users to mine it with CPU and GPU (though GPU-mining is not as profitable) and prevents the ASIC-mining.
Bytecoin Special Features
Bytecoin uses its unique CryptoNight algorithm that implements ring signature mechanism for enhanced transaction security, protecting the identity of both the sending and receiving parties, as well as the sum of money transferred. Bytecoin is not a fork of Bitcoin as it has a unique code, created by an anonymous group of developers. Transaction processing time for this altcoin is 120 seconds. The maximum amount of emission is limited to 184 billion coins.