What is Bytom (BTM)
Bytom (BTM) is another Chinese project based on byte assets. The aim of the Bytom project is to bring the external world into the digital world and to tokenize all assets of the real sector. Within the Bytom project, there are two types of byte assets: elementary byte assets and external byte assets.
Elementary byte assets in the Bytom network are financial instruments such as stocks, bonds and other derivatives that have been translated into bytes and implemented in blockchain.
External byte assets in the Bytom network are the root tokens and cryptocurrency inside the Bytom blockchain.
Given the fact that the digital world has just begun to develop, elementary assets have dominated the external, but in the near future, perhaps the equation of popularity between these two types of assets. The Bytom project is just going to do it, and it will popularize the byte environment.
There are three types of primitive and external byte assets:
– Some profitable assets, such as property;
– So-called equity assets, in the digital world – tokens, in the real world – shares;
– The last type-bonds.
Technical characteristics of Bytom (BTM)
Official Site – bytom.io
Year of foundation – 2017
Trade name – BTM
Number of coins – 1 407 000 000
The cost of the coin – 0.11 dollars
Protection method – Proof of Work
How to use cryptocurrency Bytom (BTM)
Like every blockchain project, the Bytom project has its own internal cryptocurrency called BTM. Using BTM in the Bytom network, you can perform the following functions:
- Use for payment of commissions;
- Use as payment of dividends;
- Use as collateral for Bytom network assets.
Based on the fact that Bytom works on blockchain of cryptocurrency Bitcoin, BTC can also be used in the network. The conversion of BTC to BTM will occur automatically.
On the project Bytom works a team that consists exclusively of Chinese. The first 3 faces of the Bytom project look like this: Chang Jia is the founder of the most popular resource about blockchain technologies in China. Lang Yu is a master of computer science from one of the Chinese universities, working in Alipay, 8 BTC and blocmeta.com. Duan Xinxing is co-founder of Bytom, executive director of 8 BTC and vice president of the Okcoin Exchange.
The Bytom team wants to become the first blockchain platform to “byte out” and as a result to tokenize all the assets. To do this, they created 3-level blockchain:
– 1st level: level of interaction;
– 2nd level: control level;
– 3rd Level: data transfer level.
If the founders and executors of the project can realize their goals, it will be one more step towards the digital world. But as it seems to us, this project, in the near future will not be so popular, as for example the project TenX, therefore its cryptocurrency BTM will not differ special volatility and rapid growth, though it is cryptocurrency, and to predict them is very difficult. Therefore, we will refrain from comments and predictions.