Times are changing quickly, and the need for online privacy and anonymity is becoming increasingly important. With countries run by oppressive governments that default to censorship, the need for privacy remains crucial. Bytecoin, a decentralized cryptocurrency that focuses heavily on privacy and security, can be used to send and receive monetary value while ensuring the transaction remains untraceable by 3rd parties. By utilizing a privacy-oriented protocol that is powered by the use of ring signatures, Bytecoin has proved its ability to send value in the forms of transactions globally while remaining under the radar.
What Does Bytecoin Do?
To get a better understanding of what Bytecoin does and how it operates in comparison to Bitcoin, I have drawn a chart that shows the…