Bytecoin AMA Summary: Everything about Bytecoin Hard Fork, Upcoming Updates, Exchanges etc

bytecoin ama reddit

Bytecoin team did their very first AMA (ask me anything) on Reddit on March 13, 2018. The team was asked all sorts of questions and the team did an amazing job in answering them. The AMA went for little more than 90 minutes.

Here is the summary of the AMA.

Q) How many people work in Bytecoin team?

A) Currently, their core team consists of 4 full-time C++ developers, plus several developers working in various fields, a cryptography expert, and a community manager (Jenny). Moreover we have very close relations with several graphic designers, front end developers, mobile developers, and system administrators. Sometimes we cooperate with people who were on our team previously or who in one way or another helped us during over the course of our existence.

Q) What is the purpose of upcoming Bytecoin hard fork?

A) The hard fork is slated to take place on June 12th 2018. The main goal is to move all of our new users to our new code base because once the new hardfork is released we will not longer maintain the old code and will move all of our focus and improvements to the new code, which is much more maintainable and user friendly. It will have new API that is much more simple, easy to integrate, includes dynamic fees, and economical for us to maintain. There will be a brand new Bytecoin wallet as well.

Q) How to prepare for the hard fork?

A) Just keep the coins in your wallets. Make sure to backup wallet file and your money will not disappear. Or you can keep the coins in web wallet.

Q) Is Bytecoin team going to do a coin burn?

A) We have zero plans for a coin burn and the amount of coins will remain the same.

Q) Is there any plan to change the Algorithm like Monero?

A) The team has decided not to change the algorithm in nearest future.

Q) Any word on new exchanges?

A) While the team did not specifically mention name of any exchange, they did confirm that they are in talks with many and good news is on the way. The reason why they cannot unveil the names of these cryptocurrency exchanges is due to non disclosure agreements.

Q) Any word on the situation with Poloniex?

A) Unfortunately there is nothing new to report. We have tried to connect Poloniex many times but their support has not replied to us.

Entire Bytecoin AMA can be found at this link.

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