CryptoNote-Based Bytecoin Turns 3, Plans to Implement Colored Coins & Smart Contracts
July 4 marks the third anniversary of Bytecoin, the world’s first CryptoNote-based cryptocurrency. The Bytecoin team has unveiled an expanded roadmap detailing their future plans for the coin. Bytecoin is the first CryptoNote-based cryptocurrency that enables absolutely anonymous transactions via ring signatures and one-time keys. Unlike Bitcoin, it offers certain unique properties such as smooth block reward, difficulty adjustment and ASIC resistance. (GPU mining provides efficiency of the same magnitude as CPU mining.) The Bytecoin platform allows for implementing colored coins and smart....
Related News
You may have already heard about innovative CryptoNote platform and its reference code Bytecoin (BCN), the first currency said to have truly anonymous transactions and egalitarian CPU mining only. Cryptonote technology is based on ring signatures, differs from Bitcoin source code completely and is already being discussed by the community. On July 4th Bytecoin celebrated its 2nd anniversary and we took this opportunity to shed some light on CryptoNote platform and its reference currency, Bytecoin (BCN). We had some time with Harry Ullman the head responsible for all external communication....
Note: the following interview was conducted with Bytecoin developer Harry Ullman via e-mail, as a recorded audio interview was beyond the privacy considerations of the Bytecoin development team. The author does not currently possess any Bytecoin. When did you discover Bitcoin? Unfortunately, I can't tell you that I'm one of the first people who discovered Bitcoin from Satoshi's whitepaper. But I might as well be seen as an early adopter. I joined the community long before Bitcoin's price skyrocketed to $10. How long have you been with the Bytecoin project? A little more than three years.....
Bitcoin is a useful way to exchange money, but what if you could do other things with it? If bitcoiners could use it to issue shares, bonds and IOUs, or even to create alternative currencies atop bitcoins, they could add even more value to this innovative cryptocurrency. Bitcoinx, a community wanting to "democratize finance," is hoping to facilitate just that, with a concept called "colored coins". Colored coins is a concept designed to be layered on top of Bitcoin, creating a new set of information about coins being exchanged. Using colored coins, bitcoins could be "colored" with specific....
March 22, 2014 (Dublin, Ireland) - The Irish company behind the Bitcoin prediction market Predictious is announcing the private beta launch of a new colored coin web wallet Coinprism. Colored coins use Bitcoins to represent other assets and store them on the Bitcoin Blockchain. Colored coins can be used to represent anything, such as stocks, bonds, smart properties, securities, precious metals, commodities, other currencies (such as dollars, pounds or euros), and even other crypto-currencies. A company which wants to do an IPO can do so with colored coins in a matter of minutes and....
Colored Coins is an advanced application of Bitcoin’s blockchain. The protocol is considered to have Bitcoin 2.0 properties, as it expands the use of Bitcoin’s blockchain. Colored Coins are tokens that are marked to represent real world assets. They can be used to prove ownership of cars, real estate, precious metals, etc., and are pretty easy to issue. While there aren’t very many cryptocurrencies that are Colored Coins, the ones that are colored offer some interesting features. The most common use of Colored Coins is for companies that wish to host an IPO. Setting up an IPO with Colored....