– What is this virtual currency’s most recent market cap?
Bytecoin: $1,081,051,001 USD (Source: https://coinmarketcap.com/currencies/bytecoin-bcn/ )
– What kind of virtual currency is this?
Bytecoin is a decentralised, anonymous cryptocurrency written from scratch based on the CryptoNote technology, with an open source code designed for anonymous cash settlement. This is a completely independent currency, developing separately from Bitcoin and its forks.
– What is this virtual currency primarily used for?
Bytecoin: Bytecoin protects the user's privacy with impassive and anonymous transactions. a) Fee-free instant international payments: The Bytecoin network works as fast as the internet. Your payments will take a little bit of time to process, as payments require cryptographic confirmation. Bytecoin claims transactions are processed in about 2 minutes. b)Security: Bytecoin “protects user’s money with the most secure and modern cryptographic algorithms” that “are impossible to hack”. The makers of Bytecoin claim that hacking the currency “would require immense amount of expensive electricity and computational power of a supercomputer”. For that reason, you’re the only one who can access your wallet. c) Safe private data: Bytecoin claims that it’s “totally impossible to get information about your financial operations and wallet balance” unless you choose to reveal that information. Only you can manage information that your business partners and third parties will see. (Source: https://bitcoinexchangeguide.com/bytecoin/ )
– When was this virtual currency first introduced?
Bytecoin: July 4, 2012.
– What is the history of this virtual currency?
Bytecoin (BCN) is a decentralised, anonymous cryptocurrency written from scratch and launched in July 2012. Its concept is based on the CryptoNote technology which focuses on privacy and anonymity of transactions. It comes with a number of unique features, such as ring signatures to make payments untraceable, an exchange protocol to make transactions unlinkable, and several others. Some other interesting features of the cryptocurrency include "egalitarian" proof-of-work mechanism and an analysis-resistant blockchain. Bytecoin is designed to be easily mined on an average personal computer while being resistant to mining with specialised ASIC hardware. The Bytecoin software is available in two variants - as a Bytecoin reference client that uses a command-line interface to manage transactions and to mine coins, or a Bytecoin wallet with an easy-to-use an intuitive graphical user interface. (Source: http://cryptocoin.cc/table.php?cryptocoin=bytecoin )