ByteCoin (BCN) isn’t discussed that much on cryptocurrency news sites. It certainly hasn’t enjoyed as much attention as other altcoins, like Litecoin (LTC) and Ripple (XRP), have in recent weeks. But this coin is a contender, and it is having one of the best days (regarding its price growth) of the top-25 most valuable cryptocurrencies.

It is also growing in popularity. In fact, it just announced a pretty nice milestone:

Along with Siacoin (SC), ByteCoin (BCN) is beating its peers in price growth today. At the time of writing, BCN is trading at $0.015. That’s a 47% boost from its price 24 hours ago. Over the last 7 days, this crypto coin has gained about 198%! The last 30 days has driven its price up by 498%.

This morning, it leapt to be the 21st most valuable coin. It has since been overtaken by Siacoin, which is now in 20th place. At the time of writing, ByteCoin is sitting comfortably in 22nd place, with ICON (ICX) just ahead of it.

What is ByteCoin (BCN) – Just Another Alternative to Bitcoin (BTC)?

Like several cryptocurrencies that have followed Bitcoin (BTC), this one was built with certain improvement over the original cryptocurrency.

To begin with, bitcoin transactions aren’t completely anonymous. That was sort of the main point of cryptocurrency to begin with. The bitcoin ledger, however, is constantly analyzed and tracked by firms all over the world. BTC addresses simply aren’t that easy to keep fully disconnected from their owners.

So, like a number of other altcoins, ByteCoin set out to make truly private addresses. This particular blockchain makes use of something called ring signature technology. Each address is sent through a number of different servers during transactions. The data is mixed and chopped along the way, picking up new pieces of information and leaving behind some more at each step. The trail is completely untraceable.