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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

New Cryptocurrency Bytecent Targets Non-Technical Consumers

Yashu Gola
Yashu Gola
8 years ago
1 min read

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In times when most of the new entrants into the cryptocurrency market go unnoticed, Bytecent is hoping to make its presence felt by targeting non-technical consumers, which include merchants, customers, as well as miners.

The altcoin’s creator Christopher Bouzy explained the purpose behind launching a cryptocurrency for average Joes. In his words, there is a huge need to ditch common practices like distribution of source code and binaries on the GitHub platform, in order to reach a better audience . “The end-user should not need to have a degree in computer science just to download, install, and begin using a cryptocurrency,” he adds. “That’s why Bytecent intentionally removed the complexities from the process.”

The coin’s installer, while implementing smart configuration technology, reminds us of .exe files that are normally used to set up software and other applications on Windows machines. This makes it more likely to be understood by people with no complex knowledge about computers, and cut them a big slack by keeping them away from unzipping binaries and configuring files manually.

Proof of Miner
Bytecent is based on Proof of Miner, which has reportedly been implemented for the first time on a cryptocurrency. This algorithm requires miners to enter a human readable captcha code. “That intelligent safeguard renders botnet mining ineffective and dramatically reduces the effective capability of mining farms,” informs the Bytecent press release.

Other Features

  • 60 Second Transaction Time
  • No Transaction Limits
  • Robust Security and Fraud Protection
  • Low Merchant Fee

Source: Yahoo Finance

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Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

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Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

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Comments 2

  1. SuperMiner says:
    11 years ago

    The main concept of this coin doesn’t work as intended. It says to be fair but actually majority of coins by mined by individuals who posses large number of computers. The argument that the mining capability of mining farms is dramatically reduced is absolutely not true and the coin is far from being fair for average miners. Although the captcha concept is good maybe theoretically but in reality it’s not complicated to develop a script which reads captcha letters and inputs them manually so that no human miner needs to be present.

    Reply
    • CryptoWorld says:
      11 years ago

      Show the SuperMiner proof since last update!!! That was fixed a while back. Big things to come which will make a crypto change.

      Reply

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Comments 2

  1. SuperMiner says:
    11 years ago

    The main concept of this coin doesn’t work as intended. It says to be fair but actually majority of coins by mined by individuals who posses large number of computers. The argument that the mining capability of mining farms is dramatically reduced is absolutely not true and the coin is far from being fair for average miners. Although the captcha concept is good maybe theoretically but in reality it’s not complicated to develop a script which reads captcha letters and inputs them manually so that no human miner needs to be present.

    Reply
    • CryptoWorld says:
      11 years ago

      Show the SuperMiner proof since last update!!! That was fixed a while back. Big things to come which will make a crypto change.

      Reply

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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