Bytecoin (BCN) has issued a new release that its team claims takes the CyrptoNote-based currency closer to its mission. Which is to develop a financial system that provides the same functions as existing financial systems at less cost for users.
The new release includes an updated Bytecoin wallet, pool mining, and an added solution for real-time transactions, ensuring that most transactions will process in 120 seconds. Paying invoices, pool mining and accessing block chain data will be available using an integral control center. Additional details about the new release are available on the Bytecoin website.
“Our vision was to create a private, untraceable cryptocurrency with ASIC-resistant proof-of-work that would incorporate a number of improvements comparing to bitcoin,” Harry Ullman, manager of Bytecoin communications, told CCN. The team felt that bitcoin had some drawbacks in its design.
Team Saw Flaws In Bitcoin Design
In 2011, the team gathered around Nicolas van Saberhagen, the author of the CryptoNote protocol, and Antonio