Rias



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Sr. MemberActivity: 373Merit: 250 [BCN] Uncovering CryptoNote technology and Bytecoin BCN FAQ April 04, 2014, 03:13:35 PM

Last edit: April 18, 2014, 05:13:50 PM by Rias #1



Links:

Original BCN thread:

BCN website:

CryptoNote website:

CryptoNote forum:



This whole story is quite strange and is getting stranger and stranger with each new fact about this cryptonote and bytecoin-bcn. I've started this topic to summarize all information that we have today. I feel like the best solution is faq with proof-links.



FAQ



Technology



Q: What is CryptoNote technology?

A: "An open-source technology and concepts for the cryptocurrencies of the future" as stated on the website. Also, CN developers state it clearly that they are not a coin itself, but rather a technological concept that allows creation of new cryptocurrencies [1].



Q: How is CryptoNote related to Bitcoin?

A: CryptoNote allows anonymous payments through ring signature and one-time addresses [2]. Ring signature allows to sign the message/transaction on behalf of the group so that the network knows that the message was validly signed, but the identity of the signer is unknown. One-time addresses are created from one private key and help to hide the identity of the receiver, as only he can redeem the funds.



Q: How is Bytecoin BCN related to CryptoNote and Bitcoin?

A: Bytecoin is the first implementation of CryptoNote and also its reference code for further developments [1]. Bytecoin's code is claimed not to be a fork of Bitcoin's [3].



Q: Are there any forks of Bytecoin?

A: There is one fork started on April 18, 2014, called "Bitmonero". Official thread:



Community



Q: How is Bytecoin BCN related to Bytecoin BTE?

A: They're likely to not be linked at all. The only connection is the name. BTE is the 100% Bitcoin fork, while BCN is developed from scratch [4]



Q: Who developed CryptoNote?

A: This is where it gets unclear. Website and forum messages claim that there is a group of core developers, around 10 people with a "small community helping" them [5]. However, the names are likely to be fake as they can't be googled [6].



Q: Are CN and BCN developers the same people?

A: Cryptonote's developers repeatedly refer to Bytecoin's devs as "them" and also indicate that they used to collaborate closely on the earlier stages, but currently two teams don't have direct connections [5].



Q: When Bytecoin BCN blockchain started?

A: According to the block chain info, "the first block was founded 07/04/2012 05:00:00 (GMT)" [7].



Q: How big is Bytecoin BCN community?

A: Based on hash rate estimations, should be around 2000-3000 active miners [8]. Taking other altcoins into consideration, the community of users is generally much bigger than the number of active miners.



Q: How could this community stay unnoticed for more than 1.5 years?

A: It's unclear. The community has possibly had several meetups [3], and there are actual transactions in all the blocks randomly chosen [9]. However, the total secrecy behind them is amazing. There is also a BCN community in TOR-web with some strange encrypted message inside [13].



Q: Is it Cicada 3301?

A: We don't know for sure. The hidden message has had quotes related to some discussion of Cicada [14, 15]. There can also be messages somewhere else, like midi files [16].



Q: What are the puzzles?

A: The bytecoin community seems to post puzzles for the community, which seem to have rewards for those to be the first to solve [23, 24].



Q: Do they monitor the bitcointalk threads?

A: They do, but never say anthing. The official website has changed the background music to the one proposed by danteT on the bitcointalk.org thread [22].



Q: Is there a way to contact with the developers?

A: It seems like there is no direct contact with bytecoin developers, although they do post puzzles (see above). CryptoNote developers are rather active on their forum, having even posted the contribution opportunities for the community [25].



Usage



Q: How do I mine BCN?

A: Either through the native daemon [10], or through "minergate" pool [11].



Q: How much is reward for mining?

A: It follows a sophisticated formula, which retargets difficulty and reward each block [3]. First block reward was roughly 700k [17], current one should be under 130k [18].



Q: How often do blocks appear?

A: About 2 minutes [19].



Q: How BCN coins are emitted?

A: Some kind of Hash-based proof-of-work, called "CryptoNight" is used [3]. It is claimed to be CPU-only [2]. It is unlcear yet whether CryptoNight is actually ASIC-resistant, but it might possible be so [21].



Q: Is it worth mining BCN?

A: Seem like it is possible to mine the coin both solo and in pool even with the current difficulty [20].



Q: Is there a market for BCN trade?

A: There is nothing we're currently aware of except for OTC trade [12].



References:

[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]

[9]

[10]

[11]

[12]

[13]

[14]

[15]

[16]

[17]

[18]

[19]

[20]

[21]

[22]

[23]

[24]

[25] There has been an interesting topic on this board related to new-old cryptocurrency Bytecoin (BCN), which emerged recently but is apparently 1 year 8 months old. The name is confusing, since there is another Bytecoin (BTE), which is around 1 year old, but this is not where it gets interesting. Unlike BTE, BCN is not a Bitcoin fork (or rumored not to be such, didn't check the source code myself), but is rather based on some sort of "CryptoNote" technology.Original BCN thread: https://bitcointalk.org/index.php?topic=512747.0 BCN website: https://bytecoin.org CryptoNote website: https://cryptonote.org CryptoNote forum: https://forum.cryptonote.org This whole story is quite strange and is getting stranger and stranger with each new fact about this cryptonote and bytecoin-bcn. I've started this topic to summarize all information that we have today. I feel like the best solution is faq with proof-links.Q: What is CryptoNote technology?A: "An open-source technology and concepts for the cryptocurrencies of the future" as stated on the website. Also, CN developers state it clearly that they are not a coin itself, but rather a technological concept that allows creation of new cryptocurrencies [1].Q: How is CryptoNote related to Bitcoin?A: CryptoNote allows anonymous payments through ring signature and one-time addresses [2]. Ring signature allows to sign the message/transaction on behalf of the group so that the network knows that the message was validly signed, but the identity of the signer is unknown. One-time addresses are created from one private key and help to hide the identity of the receiver, as only he can redeem the funds.Q: How is Bytecoin BCN related to CryptoNote and Bitcoin?A: Bytecoin is the first implementation of CryptoNote and also its reference code for further developments [1]. Bytecoin's code is claimed not to be a fork of Bitcoin's [3].Q: Are there any forks of Bytecoin?A: There is one fork started on April 18, 2014, called "Bitmonero". Official thread: https://bitcointalk.org/index.php?topic=563821.0 Q: How is Bytecoin BCN related to Bytecoin BTE?A: They're likely to not be linked at all. The only connection is the name. BTE is the 100% Bitcoin fork, while BCN is developed from scratch [4]Q: Who developed CryptoNote?A: This is where it gets unclear. Website and forum messages claim that there is a group of core developers, around 10 people with a "small community helping" them [5]. However, the names are likely to be fake as they can't be googled [6].Q: Are CN and BCN developers the same people?A: Cryptonote's developers repeatedly refer to Bytecoin's devs as "them" and also indicate that they used to collaborate closely on the earlier stages, but currently two teams don't have direct connections [5].Q: When Bytecoin BCN blockchain started?A: According to the block chain info, "the first block was founded 07/04/2012 05:00:00 (GMT)" [7].Q: How big is Bytecoin BCN community?A: Based on hash rate estimations, should be around 2000-3000 active miners [8]. Taking other altcoins into consideration, the community of users is generally much bigger than the number of active miners.Q: How could this community stay unnoticed for more than 1.5 years?A: It's unclear. The community has possibly had several meetups [3], and there are actual transactions in all the blocks randomly chosen [9]. However, the total secrecy behind them is amazing. There is also a BCN community in TOR-web with some strange encrypted message inside [13].Q: Is it Cicada 3301?A: We don't know for sure. The hidden message has had quotes related to some discussion of Cicada [14, 15]. There can also be messages somewhere else, like midi files [16].Q: What are the puzzles?A: The bytecoin community seems to post puzzles for the community, which seem to have rewards for those to be the first to solve [23, 24].Q: Do they monitor the bitcointalk threads?A: They do, but never say anthing. The official website has changed the background music to the one proposed by danteT on the bitcointalk.org thread [22].Q: Is there a way to contact with the developers?A: It seems like there is no direct contact with bytecoin developers, although they do post puzzles (see above). CryptoNote developers are rather active on their forum, having even posted the contribution opportunities for the community [25].Q: How do I mine BCN?A: Either through the native daemon [10], or through "minergate" pool [11].Q: How much is reward for mining?A: It follows a sophisticated formula, which retargets difficulty and reward each block [3]. First block reward was roughly 700k [17], current one should be under 130k [18].Q: How often do blocks appear?A: About 2 minutes [19].Q: How BCN coins are emitted?A: Some kind of Hash-based proof-of-work, called "CryptoNight" is used [3]. It is claimed to be CPU-only [2]. It is unlcear yet whether CryptoNight is actually ASIC-resistant, but it might possible be so [21].Q: Is it worth mining BCN?A: Seem like it is possible to mine the coin both solo and in pool even with the current difficulty [20].Q: Is there a market for BCN trade?A: There is nothing we're currently aware of except for OTC trade [12].[1] https://forum.cryptonote.org/viewtopic.php?f=5&t=11#p13 [2] https://cryptonote.org/inside.php [3] https://bytecoin.org [4] https://forum.cryptonote.org/viewtopic.php?f=5&t=11#p60 [5] https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p73 [6] https://bitcointalk.org/index.php?topic=512747.msg6011193#msg6011193 [7] https://bitcointalk.org/index.php?topic=512747.msg5950616#msg5950616 [8] https://bitcointalk.org/index.php?topic=164569.msg5657766#msg5657766 [9] https://bitcointalk.org/index.php?topic=512747.msg6023372#msg6023372 [10] https://bitcointalk.org/index.php?topic=544715 [11] https://bitcointalk.org/index.php?topic=528848 [12] https://bitcointalk.org/index.php?topic=531925 [13] https://bitcointalk.org/index.php?topic=512747.msg6035564#msg6035564 [14] https://bitcointalk.org/index.php?topic=512747.msg6089531#msg6089531 [15] https://bitcointalk.org/index.php?topic=512747.msg6090578#msg6090578 [16] https://bitcointalk.org/index.php?topic=512747.msg6093696#msg6093696 [17] https://bitcointalk.org/index.php?topic=512747.msg6032544#msg6032544 [18] https://bitcointalk.org/index.php?topic=512747.msg6035390#msg6035390 [19] https://bitcointalk.org/index.php?topic=512747.msg6089087#msg6089087 [20] https://bitcointalk.org/index.php?topic=528848.0 [21] https://bitcointalk.org/index.php?topic=557322.msg6266487#msg6266487 [22] https://bitcointalk.org/index.php?topic=512747.msg6145242#msg6145242 [23] https://bitcointalk.org/index.php?topic=512747.msg6178949#msg6178949 [24] https://bitcointalk.org/index.php?topic=512747.msg6267119#msg6267119 [25] https://forum.cryptonote.org/viewtopic.php?f=2&t=27#p115