The ability to be untraceable is the main difference between Bytecoin-based tokens and the high-performing Ethereum-based. According to Bytecoin, the only parties who will know about a purchase or selling transaction are the persons doing it and no one else. This makes it almost unnecessary to hide one’s identity while participating in an ICO. The programming of the token will secure your identity.
The acronym for the currency is BCN. It was launched in July 2012. It is different from the ever-growing Bitcoin cash and several other leading cryptocurrencies in that it is based on the CryptoNote technology. It has an open source code which is designed for anonymous cash settlement. The investors’ privacy is protected with impassive and anonymous transactions. There are many ICOs which have happened in 2017 and this is what persuaded Bytecoin to invest heavily in the development of the untraceable tokens. However, this will mean monumental amount of changes are necessary to the altcoin’s core.