Bytech Technology

TECHNOLOGY

Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively.

1.Centralized

In centralized network group of users are connected through one centeralized Hub, where only these users have rights to see all the transaction as well as all other activites perform by users reside in same network. In this kind of blockchain only authorized parties can participate in transaction and their transaction can be moniterized by authority.

2.Private

In Private network only permited users by network's administration can perform the transaction.After the verification done by administration transaction would be completed. Each user must need to obtain an invitation or permission to join and must be validated by either the network administration or by a set of rules put in place by the network administration.

3.Public

In Public network all the user is free to perform all the activities with each user and join the network anytime, anywhere. Because of its totally openness nature there is a lack of privacy in transaction perform by the users in network. Public blockchains can receive and send transactions from anyone anywhere in the world. These can also be audited by anybody.

4.Utility Program

In present, Bytech works on a standard platform which is based on a large-scale update that would give the allowance for the usage of more cryptocurrencies in the near future.The amount of each transaction will be transferred in real-time to a digital wallet, from where it can automatically be converted into any fiat currency or else stored as BYT.