On Friday, May 17, Bytecoin, one of the longest standing privacy coins in the crypto space, successfully underwent a scheduled hardfork.
This was a non-contentious hardfork, meaning
that it was pre-planned and intended as a means of refining the Bytecoin
platform rather than dividing it. Once 90 percent of the blocks in a 720-block
frame were submitted via the new version of Amethyst software it triggered the
switch height of the blockchain, which in turn initiated the hardfork.
Though long planned, the fork was nonetheless
momentous as it has formally ushered in changes to the platform pre-packaged in
the Amethyst 3.4.2 software update. While Bytecoin’s maximum coin supply has
not been altered in any way by the hardfork, now both new and old Bytecoin
addresses work properly and can be transferred amongst each other.
Moving forward, this hardfork will set the
stage for a number of features and upgrades to the platform to take effect,
namely:
These updates are aimed at streamlining the
platform and solidifying its position as one of the premier privacy solutions
in crypto. The additions of unlinkable addresses and HD mnemonic wallets will
do much to beef up the platform’s cryptographic specs, while adjustments to
block and ring signature size are set to increase agility.
Looking forward, this hardfork will set in
motion a number of prospective features that have been lined up on deck for
Bytecoin, including the Gateway project, hidden amounts, and the events laid
out in the roadmap.
When reached, Bytecoin CMO Jenny Goldberg had
this to add:
“We have been preparing for this hardfork for
a long time, and many of our future plans were dependent on its completion, so
this is a key development for the team and for the community. On behalf of the
team, I’d like to thank the members of our community for their contributions in
the lead up to the fork, and share our enthusiasm for what’s on the horizon. We
feel that with the developments we’ve got coming this next stage for the platform
will be marked by expansion and positive growth.”
About Bytecoin
Bytecoin was originally launched in 2012 as the first privacy-oriented cryptocurrency based on CryptoNote technology. Since its conception, Bytecoin has worked to position itself as a platform that recomposes structures of commerce in favour of the individual.