Bytecoin (BCN)
Bytecoin is designed as a private cryptocurrency, where transactions cannot be seen by the general public. Transaction privacy is protected by secure cryptographic algorithms whereby no one can identify who sent the money, who the receiver was, and what amount of money was transferred.
Mining/Staking
Bytecoin uses a Proof of Work mining system, with new blocks being mined approximately every two minutes.
Development Team
The development team and advisors for this project can be seen on their main website. There are no well-known names, but the team is extensive, and includes a number of managers and enthusiasts. Bytecoin was an early cryptocurrency, developed in 2012 and based on the CryptoNote protocol.
Criticisms, Caveats, and Competitors
Some developers have said that the privacy features of Bytecoin as not truly private, and that Monero is the only truly private coin. However, it important to remember that there can be different degrees of privacy. Most users simply don't want their neighbours peeking through the windows, so they shut the blinds. Similarly, if transactions are disguised, this is adequate for most users. When checking market quotes, do not confuse this with another token that is also called Bytecoin, with the symbol BTE on CoinMarketCap.
Additional Resources
The project's main website: https://bytecoin.org
Link to Wikipedia Page: https://en.wikipedia.org/wiki/Bytecoin_(cryptocurrency)
Link to Reddit Community: https://www.reddit.com/r/BytecoinBCN
Link to Twitter account: https://twitter.com/Bytecoin_BCN
Link to Team information: https://bytecoin.org/community
Link to data on Live Coin Watch: https://www.livecoinwatch.com/coins/BCN
Whitepaper: N/A