Bytecoin uses a unique technology called CryptoNote to ensure that money transfers are guaranteed to be anonymous. To do this, it uses ring signature to verify transactions.
A user signs on behalf of a group of transactions from a pool of signers, each of which are identical to each other. Once signed, funds are sent to the recipient's one-time address generated from their public key.
Everyone can see when funds are received, making it possible to determine account balances, but public keys are obscured so the owners are protected.
Once a payment is complete, it is not possible to link payments together to see who sent money to whom.
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