The key difference between Bitcoin and Bytecoin
If you want to convert Bytecoin to Bitcoin, keep in mind the following facts.
Being the first cryptocurrency in the market, Bitcoin is believed to be anonymous and untraceable. However, this is not true. All the transactions that are made within the Bitcoin blockchain can be seen in the network and anyone can check the details of every transaction. Yes, it may be very hard to find out who is the owner of these are the other Bitcoin wallet, but not totally impossible.
Bytecoin has been created in 2012 as a derivative of Bitcoin with respect to the users’ privacy. Bytecoin utilizes to the ring signature which helps to make the transactions absolutely untraceable. Converting BTC to BCN may be a good use for those who want to stay out of the radar. However, if you’ve decided to get rid of Bytecoins due to the bad investment environment, you can easily perform bytecoin to bitcoin exchange on our website.
What is Bitcoin mining algorithm?
Bitcoin is created as a result of special equipment working on resolving computational problems that help it find the new blocks. This equipment consumes electricity and as a confirmation of its work gets a reward in Bitcoins. This is why the mining algorithm is called Proof-of-work.
Bitcoin mining has become unprofitable all over the last couple of years as too many people have joined this Gold Rush. Bitcoin is not only produced on the special equipment and cannot be obtained on the end-user machines.
What is Bytecoin mining algorithm?
Bytecoin is based on the Proof-of-work mining algorithm as well, but it can be obtained in the end-user hardware. In fact, Bytecoin mining can be performed by every modern personal computer.
The emission of vision is limited by only 184.47 billion, so the more blocks are found, the more difficult it becomes to find the new ones and the more expensive the mining process becomes.
The circulating supply of Bytecoin equals to 184,066,828,814, while its maximum supply equals to 184,470,000,000.
For Bitcoin, the circulating supply equals to 17,657,800, while its maximum supply equals to 21,000,000.
If you want to convert BCN to BTC, the market capitalization is a very important index that you should pay attention to.
For Bytecoin, the current market capitalization equals to $167,348,261.00. Bitcoin’s capitalization equals to $93,368,671,071.00.
Volume of transactions
During the last 24 hours, Bytecoin’s volume of transaction equals to $178,491.63. For Bitcoin, this index equals to $13,189,179,663.62.