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The Bytecoin Team on BCN20 and the Bytecoin Gateway

July 26, 2019
The Bytecoin Team on BCN20 and the Bytecoin Gateway

This past week we have received an overwhelming amount of feedback on the Bytecoin Gateway, including a lot of interesting questions. For this week's article we have decided to answer the community’s top inquiries.

Will everyone owning BCN receive BCN20?

No, BCN20 was not designed like that. The amount of BCN20 in circulation is equal to the amount of BCNs placed on the publicly observable auditable wallet created for this purpose. At the time of writing this article there were 500 000 000 BCNs placed on the auditable wallet by the Bytecoin devs. You can always check the live balances of both the BCN20 smart contract and the BCN auditable wallet on the dashboard.

What will happen to the original BCN?

BCN, as the native currency of the Bytecoin network, has not been affected in any way. BCN20 is a separate asset, not a substitute.

How much BCN20 will be released?

The total supply of BCN20 is equal to the amount of BCNs on the auditable wallet which is currently 500 000 000 BCN20. The token’s smart contract was designed to be mintable - if the devs increase the amount of BCNs on the auditable wallet, they will mint a corresponding amount of BCN20s.

How can someone obtain BCN20?

Getting BCN20 is easy: once BCN20 is listed on an exchange, you can trade it there via the trading pairs available.

Will BCN20/BCN trading pairs be available?

Yes, it is a top priority for us. However, this is going to take some time due to the way exchanges are designed - they will have to roll out BCN as a new main trading pair.

Where will BCN20 be listed?

The full list of exchanges is coming soon. We are now negotiating with our existing and potential partners.

For what purpose is BCN20 needed?

BCN20 is an ERC-20 token that is serving as a catalyst of Bytecoin’s economic growth. It performs several crucial activities:

  • facilitates cross-chain expansion;
  • amplifies Bytecoin’s presence and trading convenience;
  • Increases Bytecoin’s value.

Is there a detailed description of the Gateway technology?

Take a look at one of our previous articles.

Can BCN20 be mined?

BCN20 is an ERC-20 token and cannot be mined in the traditional sense of the word. It is supported by Ethereum platform nodes around the world.

If you have any questions, feel free to submit them in the comments section below