Bytecoin is literally a direct copy of the Bitcoin code. Minus their recent change to the unproven (non peer-reviewed) curve25519 algorithm. It's basicaly a scrypt altcoin with an even lesser-tested algorithm at it's base.
Zerocash/Zerocoin is far from that reality.
Bytecoin has done literally nothing besidres change the hashing algorithm, Zerocash is an entirely new beast altogether.
Nope. You are confused. You should consider this great news because you are about to discover something quite interesting!
Bytecoin is a ground up rewrite (for better or worse) blockchain cryptocurrency which uses a pretty boring schnorr-like ring signature in an _very_ clever way to achieve strong privacy. The ring signature its using has been peer reviewed, though the partial uncloaking technique they use to prevent double spending is a novel application.
(And come on, I'm not usually one to lean on authority— but you ought to believe /me/ when I say it's not copying Bitcoin and that it's doing something very useful and interesting for cryptographic privacy)
The privacy achieved by Bytecoin is better than any existing-in-production privacy tools (e.g. CoinJoin) and also as good as or better than every theoretical system I've heard proposed except for Zerocash. Relative to ZeroCash, Bytecoin exists today and has simpler cryptographic assumptions, better performance for signers, and no requirement for trusted initialization. Because it doesn't mask values its anonymity set is potentially smaller, though the implementation does some clever denomination tricks to reduce the harm of value transparency.
The reason I included a hyperlink instead of just speaking comparatively was so that you wouldn't have to suffer from any confusion on the matter. :)
Kinda sad that with all the worthless clonecoin and whitepapercoin pumping people are missing the few bits of real innovation that are getting created, enh? Don't you agree, sir_doge_alot? :P
The technology on which bytecoin is based is great, bytecoin itself though has a massive premine/instamine of I believe 80%+ of the currency already. There is a new solution out which is gaining traction, a fork called Monero which removed the premine and is currently gaining traction.
I must apologize, because the only knowledge I have so far of bytecoin is that it started out as literally a DIRECT COPY of the bitcoin source code. They didn't change a single thing whatesoever, until they realized that that motive was fruitless and positioned themselves to adopt something/anything that differentiated themselves from bitcoin.
I still rest behind my case.
I have not invested a single penny in bytecoin and probably never will.
Do they have professional cryptographers working on and vouching for their source code like zerocash? Please, inform me.
I beg of you to tell me the next great crypto currency to invest in. But for now, I am investing most of my diversification fund into zerocoin.
Comparing cryptographic primitives by a Google publicity count is completely nonsensical. They offer disjunct applications: curve25519 is a mathematical group for protocols like Diffie-Hellman etc. while scrypt is a guaranteed to be slow hash function.
curve25519 was published by the renowned cryptographer Dan Bernstein in "Lecture Notes in Computer Science" ( http://link.springer.com/chapter/10.1007/11745853_14 ) and according to Google Scholar it has 114 citations. On its
Wikipedia page you could have found out that it extensively used by Apple in iOS: https://www.apple.com/iphone/business/docs/iOS_Security_Feb1... . It's probably going to be one of the major groups used for ECDH (elliptic curve Diffie-Hellman - the stuff you need for fast perfect forward secrecy) in TLS 1.3 and some even argue to ditch all the NIST curves in its favor.
I'd appreciate if you would do a minimum amount of research before you dismiss widely accepted cryptographic primitives just because you haven't heard of them before.
Bytecoin is literally a direct copy of the Bitcoin code. Minus their recent change to the unproven (non peer-reviewed) curve25519 algorithm. It's basicaly a scrypt altcoin with an even lesser-tested algorithm at it's base.
Zerocash/Zerocoin is far from that reality.
Bytecoin has done literally nothing besidres change the hashing algorithm, Zerocash is an entirely new beast altogether.
See here for proof of calling out curve225519 vs scrypt http://www.google.com/trends/explore#q=curve25519%2C%20scryp... (when scrypt isn't even really an improvement upon bitcoin).