There have been hundreds of cryptocurrencies that have launched worldwide, and more than ninety-eight percent of the cryptocurrencies launched have failed for one reason or another. The Bytecent project was conceived to bring sanity back to an industry that has drifted away from the core principles set forth with the original Bitcoin project.
Bytecent is not just another cryptocurrency in a sea of many; it is a philosophy born out of necessity. The goal of this project is to reinvent crypto from the manner that wallets are distributed and installed, to the method that coins are mined and spent. Bytecent is the first user-friendly cryptocurrency designed from the ground up to be as easy as sending an email. If you can point and click a mouse, you can use Bytecent.
We firmly believe in the power behind mining coins and the economic benefits mining has to offer. So we set out to develop a new mining system titled: POM (Proof of Miner). POM was developed to balance the scale between miners and people buying coins for commerce while keeping the mining process fair for the majority of miners.
Proof of Miner is an innovative mining system that employs captcha technology to limit mining abuses while keeping the mining process tangible. POM requires miners to enter a human readable captcha code every sixty minutes to maintain the mining process without interruption. Mining time can be extended without entering the captcha code by storing x amount of coins in the local wallet. For example, If 25 Bytecents are required to extend mining time for one hour, a miner will need a total of 600 Bytecents stored in his/her local wallet to extend mining time for a total of 24 hours. Coins utilized for mining can be used anytime and are not locked from being spent like with Proof of Stake coins. The number of coins required to extend mining time is based on numerous factors including current price, total volume, and demand.
Within the cryptocurrency industry, it has become common practice to distribute source code and binaries using the Github platform. The widespread practice of downloading zipped binaries from Github and similar websites is not practical for the majority of the population. Downloading and installing a cryptocurrency should not require a degree in computer science. We have taken the complexities out of downloading and installing Bytecent by employing an easy to use installer and smart configure technology. In less than 5 minutes end-users will be up and running without the annoying hassle of unzipping binaries and configuring files.
This software is not reviewed yet.