What is Bytom BTM? Should I invest in Bytom or not?

As you all know, the years of 2017 have experienced very traumatic events for investors. A handful of projects have been built and deployed since 2017 until now. However, there is a project from China, where there are strict regulations on the crypto market that has been building a blockchain since 2017 until now. Today, let’s learn about this Bytom project.

What is Bytom Blockchain?

Bytom is a blockchain protocol that supports the connection of financial applications and digital assets. It allows assets in different fields to interact with each other on Bytom.

Bytom can be considered as a direct bridge between the digital network (eg BTC, …) and the real world (stocks, gold, …) and supports the transfer of assets between these two fields.

Architecture of Bytom

Bytom uses a 3-layer architecture including:

  • Application layer: The application layer is friendly to mobile devices and terminals, suitable for developing asset management applications.
  • Contract layer: The contract layer uses genesis contract and control contracts to issue and manage assets, supports BUTXO extension of UXTO model and optimizes EVM
  • Data transmission layer: The Data transmission layer uses DLT technology to issue, use, and transfer assets.

Features of Bytom

The address formats BIP32, BIP43 and BIP44 are used in the design of the Bytom wallet to support multi-currency, multi-account, multi-address and multi-key Hierarchical Deterministic Wallets.

Bytom will support the SM2 Public Key Cryptographic Algorithm (Based on Elliptic Curves) SM2 and the SM3 Cryptographic Hash Algorithm (Cryptographic Hash Algorithm 3) to operate in China.

Bytom will name assets according to the ODIN (Open Data Index Name) standard to ensure the uniqueness of the assets on the network. ODIN will use block height as the naming index instead of the string literal.

Xem thêm:  Tìm em câu ví sông Lam

Bytom will apply AI ASIC chip friendly PoW algorithm so Bytom’s algorithm will be compatible with AI. It will support the inclusion of algorithms in functions so that miners can use accelerated services.

What is Bytom 2.0?

If Bytom 1.0’s solution is the main chain using POW, responsible for issuing assets and the sub-chain through POS, responsible for transaction efficiency… then Bytom 2 is a new era. An era of replacing POW with POS, helping to overcome most of the shortcomings of POW and also Bytom 1.0 in terms of security, as well as performance, reducing the economic burden on the BTM ecosystem.

Bytom 2.0 is a unified architecture and integrates the multi-asset DeFi protocol on a unified platform.

In short, to put it simply, Bytom 2.0 is an upgrade of Bytom 1.0 with a breakthrough compared to the old version, which is to use POS instead of POW (abandon the main chain mechanism of the sub-chain and merge into a single chain using a single chain). using POS).

Bytom 2.0 products

Bytom 2.0 will support multi-platform developers:

Defi: MOV is an interoperable and customizable Defi protocol, MOV will integrate a series of protocols such as: Orderbook, AMM, Lending, etc. MOV will be compatible very quickly with the development of the current market. in.

NFT & Metaverse: Developers can fully build NFT and Metaverse applications on Bytom

Cross-chain system: This update will integrate more cross-chain protocol so that assets can be easily transferred from the Bytom blockchain to other blockchains quickly and efficiently.

Robust Oracle system: Bytom consensus nodes can become oracle service nodes that provide off-chain data to the system.

You can read more about Bytom 2.0 products here.

Highlights of Bytom

Bytom is an asset bridge between digital assets and real assets, which will enhance the liquidity, security and value of those assets.

Although using the PoW mechanism, Bytom’s UTXO model will allow verification of many transactions at the same time, much lighter than Ethereum.

However, with the update of Bytom 2.0, there was a complete change in mechanism compared to Bytom 1.0. Bytom 2.0 will build a deflationary model for holders, to increase the number of holders on the system.

Xem thêm:  bài 28 : tự kiểm tra

Bytom will support developers to build more platforms like Defi, NFT, Metaverse, and more.

The switch from PoW to PoS will help Bytom become more environmentally friendly when China is having a hard time deploying miners.

High adaptability, with the new platform changes of Bytom allows this network to be highly compatible with the changes in today’s market.

Roadmap– Project roadmap

January 2017: Establishment of the project

June 2017: Whitepaper Release, Fundraising Complete

September 2017: Launch of Testnet

October 2017: Test run in the US

December 2017: Launch of Bytom 0.2.0 of cross-platform programs

January 2018: Launch of Bytom 0.3.0 exclusively for customers

April 2018: Running mainnet

May 2019: BAAS Platform Release

September 2019: Deployment of Defi . protocols

March 2021: Bytom 2.0 whitepaper release

Team- Development team

Founder, Chang Jia: He is the Founder of Bytom, in addition, he is also the Founder of 8btc. He is also one of the few people working in China’s leading Blockchain field

CEO, Lang Yu: He just replaced the CEO position of Duan XinXing and September 2019

CTO, Zhu Yiqi: He graduated from the University of Ottawa majoring in computer engineering, currently he holds the position of CTO of Bytom

In addition, Bytom’s development team has the participation of leading experts in the fields of China, a huge power and home to many talented people in the Blockchain field.

Investor- Investor

Updating…

Partner- Partner

Bytom’s partner in China currently has leading organizations in China participating in supporting the development of the project. Such leading organizations will greatly support Bytom’s growth in China.

With the renewal of its platform, Bytom’s 2.0 version integrates many other partners in the Crypto market. Bytom also cooperates with many different strong platforms in the current Crypto market. Market leading ecosystems such as Polygon, and the leading Oracle project in the Crypto market today is Chainlink.

Token

Token Use Case

Bytom will issue tokens for its platform with the code BTM, BTM tokens are used in the following areas:

Xem thêm:  Tiêu chuẩn sức khỏe mới cho người lái xe

Transaction Fee: Every operation on Bytom will have to use Bytom as a fee

Reward: BTM will be used to pay miners

Dividends of Income Assets: Those who issue digital assets on Bytom will be paid dividends in BTM

Basic information

Token name: Bytom Blockchain Token

Tickers: BTM

Blockchain: Bytom

Token type: Coin/ Mineable

Mining algorithm: Tensority

Total supply: 2,100,000,000 BTM

Circulating supply: 1,709,495,737 BTM

Token Allocation

BTM tokens will be allocated as follows:

Private Equity Investors: 7%

ICOs: 30%

Bytom Foundation: 20%

Business Development: 10%

Mining: 33%

How to own BTM . token

Currently, you can buy and sell BTM on the leading exchanges in the world today.

Developers will be able to participate and develop the system, the project team will reward developers with BTM

Because version 1.0 Bytom is built on PoW mechanism, users can completely mine BTM like BTC

Current BTM exchange rate

I will update my price according to data from Coiningecko so that everyone can update easily:

Where to buy and sell BTM?

Currently, you can trade BTM tokens at leading exchanges such as: Huobi, Gate, Mex, Okex, …

Project community

Website Bytom 1.0: https://classic.bytom.io/en/

Website Bytom 2.0: https://bytom.io/en/

Twitter: https://twitter.com/Bytom_Official

Telegram: https://t.me/BytomInternational

Discord: https://discord.com/invite/U3RSYr5

Medium: https://medium.com/bytomofficial

Evaluate

Bytom is considered a potential project, supported by leading organizations in China. However, some laws in China are quite strict for the crypto market, especially for projects that use mining mechanisms like BTC. The Bytom project is currently innovating its mechanism and promises to build a stronger foundation.

Above is the basic information that GTA has provided about the Bytom Blockchain project, hopefully through the above article you have gained useful information.

The above reviews are for reference only, not to encourage investment.

In addition, if you want to buy and sell coins in VND at Bitcoin exchange in Vietnam, you can visit Bitmoon exchange to trade!

This is one of the most prestigious exchanges in Vietnam today.

Back to top button