Bytecoin, a privacy coin launched in 2012, completed its hardfork. The team promises that it will improve the coin’s agility and cryptographic space.
In an official press release, Bytecoin states that the hardfork was non-contentious. This means that it was both pre-planned and aimed to refine the Bytecoin platform, not divide it. The developers used the new version of Amethyst software, which took in 90 percent of the blocks in a 720-block frame. Subsequently, the switch height of the blockchain was triggered and the hardfork initiated.
Bytecoin notes that the hardfork was an important one, as it has “formally ushered in changes to the platform pre-packaged in the Amethyst 3.4.2 software update.” The press release also emphasizes that the hardfork has not affected Bytecoin’s maximum coin supply. Traders can use both old and new addresses to transfer the coin.
Bytecoin CMO Jenny Goldberg noted that Bytecoin has been preparing for his hardfork for a long time. She says that many features will depend on its completion and adds that “this is a key development for the team and for the community.”
“We feel that with the developments we’ve got coming this next stage for the platform will be marked by expansion and positive growth,” said Goldberg.
Eventually, the hardfork will bring about numerous features and upgrades. These include:
- HD wallets with mnemonic backup and restore;
- new unlinkable addresses;
- blocksize adaptation;
- reduced ring signature size;
- consensus updates;
- wallet history stored in the blockchain;
- improved P2P protocol;
- auditable wallets
The developers explain that these updates will streamline the platform and solidify its position “as one of the premier privacy solutions in crypto.” They are positive that both unlinkable addresses and HD mnemonic wallets will beef up the platform’s cryptographic specs. At the same time, they believe that adjustments to block and ring signature size will increase agility.
Currently, Bytecoin is trading at $0.00093983.
Previously, Altcoin Buzz reported that Bytecoin rolled out the stable version of Amethyst 3.4.0. It is also working on a foundation for users to create their own gateways via blockchain bridging.