When it comes to cryptocurrency, there are a lot of different options out there. One option is Bitcoin, and another option is Bytecoin.
So, what’s the difference between the two? Is Bytecoin a fork of Bitcoin? Let’s take a closer look.
Bitcoin is a decentralized digital currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is unique in that there are a finite number of them: 21 million.
Bytecoin, on the other hand, is also a decentralized digital currency but it uses the CryptoNote protocol. Bytecoin is also unique in that it’s anonymous and untraceable.
So, what does that mean? Well, with Bitcoin, your transactions are public and traceable. That means that if you want to buy something anonymously, you can’t use Bitcoin.
With Bytecoin, your transactions are untraceable which makes it more private.
So, Is Bytecoin a fork of Bitcoin? No, Bytecoin is not a fork of Bitcoin. While they are both decentralized digital currencies, they differ in their protocols and privacy settings.