Also, doesn't this mean that I can use hardware such as a bitcoin usb block erupter to mine it?

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Bytecoin (BCN) bytecoin.org uses the CryptoNight algorithm and cannot be mined with bitcoin mining hardware.

Bytecoin (BTE) bytecoin.biz uses SHA-256 and it can be mined with a block erupter (and any other bitcoin mining hardware).

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