[Crypto Currency] Bytecoin (BCN) - Open source aiming for future market Crypto Currency
Since the advent of Bitcoin, concepts and attempts have been made in P2P private transactions through block chains. We all know that the new block chain technology and Crypto Currency based on Bitcoin have begun to emerge.
But Bitcoin is not a perfect technology. The nature of the Distributed Ledger was that updates were not implemented until all the nodes had the same updates.
Bytecoin suggests ways to research and solve solutions to the problems Bitcoin has. We named this technology CryptoNote Technology.
CryptoNote Technology has emerged to overcome technical deficiencies in Bitcoin. Bitcoin's problematic points to be noted include traceability, a method of proof-of-work built with oneCPU-One Vote and SHA-256, changes in mining volume, It can be distinguished by structure, script that has less effect than large volume.
EdDSA of Bytecoin's basic signature algorithm. Because it is an elliptic curve parameters method applied to Bitcoin, it is applicable to Bitcoin in the future. This transaction structure is similar to Bitcoin. You sign an independent transaction with your own Key and prove it.
Zerocoin Protocol is applied in this process. As a result, transactions may be released to third parties outside the company. However, because there is no need to trust these three parties and the one-time key can not be recovered without the private key of the individual, the recipient must complete the transaction can. The public key that is generated in this process is derived from the rest, and it is essential that the transaction can be recognized, but not involved.
Use the term to distinguish it from the Key in Bitcoin. These terms are Private ec-key, Public ec-key, One-time keypair, 5 private user key, tracking key, public user key, standard address. Each of these keys can be verified by combining functions defined in Elliptic Curve parameters.
The other is that the recipient generates a one-time key based on the recipient's address and arbitrary data, and the recipient restores the arbitrary part to the individual's key and receives it. In this process, one-time ring signatures are used to maintain anonymity You can use the received Crypto Currency upon receipt.
With One-time ring signatures, you can release the link from the transaction. Transactions can be tracked during the encryption process of a common Crypto Currency, including Bitcoin. This means you can use a different signature to solve this problem.
One-time ring signatures uses four different algorithms, Gen, SIG, VER, and LNK. The way these algorithms are applied is simple to understand. Users create a signature using the A set of public keys, not a unique public key, and they will be able to connect to each other only when the same set is signed.
One-time ring signature and Unlinkalbe public key can be combined to secure a new personal security. This means that a combination of private key and publish key must be stored for this purpose. This means that you will be able to see.
Bytecoin employs a proof-of-work approach called Egalitarian Proof-of-Work, which aims to reduce the differences between miners using different methods. This is an example of the fact that Bitcoin's ASICs have soared their level of difficulty compared to conventional graphics card mining, resulting in inefficient harvesting.
The main scalability of Scratchpad requires an increase in the structure of the loop, which means that the data processing time increases. This means that the network will soon become heavy, and Nodes will accelerate because they need to prove the block.
The algorithm proposed by Bytecoin relies on random access to slow memory and highlights potential dependencies. This means that it is not a block with a new 64-bit size, but a "Memory Saver" that relies on previously created blocks.
This algorithm requires 2mb per data instance. It is believed that this method will be suitable for a processor called L3 cache, and it will be mainstream type, and ASIC size is not acceptable. GDR5 is slower than CPU L3 Cache and Random Access speed It is not.
In the English version, the roadmap is gone.
Let's take a look at the BCN roadmap on the Korean site.
Technical part
February 6, 2018 Beta release and API release.
Upgraded API will be released on March 20, 2018.
June 12, 2018 Hard fork is in progress.
On July 10, 2018, we will show public test net.
Marketing part
Looking to the Asian market in Q1 2018
Looking to the Middle East market in Q2 2018
We are targeting the African market in Q3 2018
New exchanges and new partnerships are in progress, and payment solutions are currently on hold.
Starting on 2012, the 6th anniversary event is scheduled for July 4, 2018.
BCN prefers a decentralized approach and is proceeding with the development of open source. Therefore, the total ossification of the project does not exist as CEO or CFO, various users are leading the project, and each person is responsible for development of community manager.
Let's summarize Bytecoin. It is an open source project of PoW method which overcomes the conceptual limitation of Bitcoin. The underlying background is itself aimed at pointing out Bitcoin's traceability, inefficiency, and giant scripting and resolving them.
It is one of the Dark Coins that is out of the way of tracking transactions through Zerocoin's method. It provides various private and public keys for this purpose, and uses a combination of keys and a part of the addresses owned by traders to enhance security.
The listed exchanges do not have major majors, but they are steadily increasing. You can also find the Mining Pool for mining PoW and it is also on the official website of Bytecoin.
We introduced Masternode in PoW, and we are doing BCN Cloud. This shows that we are trying to solve the unfairness of mining.
CryptoNote is one of eight Crypto Currencys from Open Source Technology and the rest are Aeon, Boolberry, DuckNote, Fantomcoin, Monero, MonetaVerde, and Quazarcoin. Bytecoin is the first of these protocols.
The development language was initially implemented in Java, but it was rebuilt in C ++ before it was released in 2013.
Until now, there is no proper use and lack of purpose. It seems simply to point out the structural and conceptual problems of Bitcoin and to counter it, and the settlement solution to be used in real life is reserved, so you should think about introducing real life.
It is difficult to know how to develop and use the coin because the purpose and goal of the coin is limited and the intention to do so is limited. However, in the market so far, the market can not exceed the coin Crypto Cuurency is thought to be.
Bytecoin: https://Bytecoin.org/
Twitter: https://twitter.com/Bytecoin_BCN
Telegram: https://telegram.me/Bytecoinchat
Kakaotalk: https://open.kakao.com/o/grDXBJE
Github: https://github.com/bcndev/Bytecoin
I have analyzed based on white paper and published information. Since there is no information that can be verified, it is recommended that individuals conduct further analysis and proceed with their own discretion.
I do not encourage individuals to invest, they share information only for reference.