It is estimated that there are around 23 million software developers in the world and this number is projected to grow to around 27 million in 2023. While software development remains one of the most dynamically advancing industries, the significance of a proper development paradigm has only gotten more substantial.
Just like with any Proof-of-Work cryptocurrency, mining is the foundation of Bytecoin. It serves to discourage illegitimate overwriting of the blockchain by apportioning mined blocks with proof of a certain amount of computational work. While debates over the pros and cons of Proof-of-Work and Proof-of-Stake persist, mining is still a working solution to a modern technological challenge. In this article we will enumerate the different ways Bytecoin can be mined and take a look at the technological backdrop of each method.
In the recent year the Bytecoin devs have been striving to make Bytecoin software not only more technologically advanced, but also more convenient to use. This has flourished into the bytecoin.money web wallet, the mobile app, new partners joining the Bytecoin ecosystem and the Bytecoin Gateway concept. Hardware wallets are next on the roadmap.
Identity theft is one of the most prominent kinds of crime in the digital age and it continues to increase every year. In 2017 6.6 percent of U.S. consumers fell victim to identity theft, which is roughly 1 in 15 people. The advent of cryptocurrencies and exchange markets has created a big resource for identity thieves: though often keen on investing personal funds, crypto enthusiasts are not always well-versed in questions of digital security.
Almost 57% of the world’s population has access to the Internet and 45% are active social media users. While social media and messaging applications are developing into some of the most prevalent communication tools, the security offered by these tools is anything but certain. With recurring data breaches from both criminals and government agencies, privacy of communication is becoming one of the most sought-after digital needs in the 21st century.
Since the creation of Bytecoin developer repositories the project has seen 24 software releases, arriving and departing partners and a lot of feedback from the community. The challenges we have faced and the feedback gathered from the community have been invaluable to our growth. Accordingly, we have decided to take a look back on what we’ve accomplished since the creation of the new software repositories technology-wise and the impact theses developments have had.
The Bytecoin Team is releasing Bytecoin Amethyst v3.4.1, containing several important fixes and improvements that are crucial to a speedy hardfork adoption.
The Bytecoin Team has released a roadmap for the upcoming year. The events outlined on the map consist of improvements in anonymity, functional and visual redesign, and the addition of useful features.
Bytecoin network will be undergoing a hardfork in March 2019. There is no doubt it is a substantial event for any cryptocurrency.