Bytecoin (BCN) is cryptocurrency launched is 2014 focusing on privacy, the first to implement the CryptoNote algorithm. CryptoNote makes all the transactions recorded in the blockchain of Bytecoin anonymous, as they are grouped in "rings".
When a transaction is done in Bytecoin, a random group of private keys is assigned to a ring to be referenced in the transaction. Each member of the ring is equally probable to have actually signed it, so it's infeasible to link it to any specific keyShow more [+] t uses proof-of-work as the consensus protocol, but mining BCN is far more CPU-friendly than the average. Mining pools using common CPUs are usual.
Bytecoin is constantly deflating, as the reward rate becomes lower continuously over time.
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