What is Bytom (BTM)?
Future of BTM Cryptocurrency and know how to buy BTM

#1 - What is Bytom (BTM)?

Bytom (BTM): The basics

  1. Bytom is a blockchain protocol which seeks to fill the gap between the digital world and the real world. The Bytom platform tackles several problems connected to asset management, whether they are virtual assets or real assets. One of the problems it focuses on is the lack of smooth flow of assets between virtual and atomic world.
  2. It brings several off-chain assets on-chain and allows them to be traded and exchanged on the Bytom platform. Off-chain assets (securities, bonds, dividends, etc) can be traded along with digital assets. In doing so, Bytom aims to bring the digital world and the real world closer.
  3. The BTM coin, more commonly known as Bytom coin, is the native cryptocurrency of the Bytom platform. It serves as a license needed to access the Bytom blockchain. Each Bytom coin represents ownership of a part of Bytom blockchain, allowing the BTM holder usage and participation in the management of Bytom blockchain.

Bytom Development

  1. The mission of Bytom is to create a decentralized platform, which allows both digital assets and real assets to be registered, exchanged and gambled in one place. Bytom is developed by some well-renowned people in the blockchain industry.
  2. The Bytom Foundation was founded Chang Jia and Duan Xinxing in Singapore. Lang Yu is appointed as the CTO in the company.
  3. Chang Jia is a former Sci-fi writer and winner of the Galaxy Award. He also founded 8btc - one the largest cryptocurrency and blockchain news services in China. Duan Xinxing, who also serves as the CEO of the company, was previously positioned as the vice-president of the OkCoin.

 

#2 - What are the benefits of Bytom?

Bytom Technology

  1. Bytom is a multi-layered platform, with three primary layers are:
    -  A data transaction & transmission layer,
    -  A contract layer and,
    - An asset interaction layer.

    The data transaction and transmission layer is designed to be compatible with Bitcoin’s UTXO model. Bytom also uses a general address format, which grants it the support for multiple currencies.
  2. Bytom uses ODIN (Open Data Index Name) for its asset naming function. ODIN enables the uniqueness of assets across the whole blockchain and network by assign each of them unique parameters for identification. It is based on the Bitcoin blockchain and through multi-level marking, it offers support for public & consortium blockchains.
  3. Bytom integrates Segregated Witness (SegWit) into its design, which allows Bytom to separate the transaction signature from the rest of data and witness. The DLT Protocol links the variety of assets and by adopting the same protocol, operators across multiple blockchains can interact and trade cross-chain.
  4. Bytom also uses the Tensority Algorithm for its Proof-of-Work consensus. The algorithm is specifically designed for AI acceleration services, which allows miners to use outdated ASIC-chips for BTM mining.

Bytom Platform Model

Bytom’s platform architecture is divided into three layer structure — Application Layer, Contract layer and Ledger layer.

  • Application Layer: This layer includes various applications to facilitate the management of various assets through calling contracts.
  • Contract layer: This layer consists of two types of contracts: Genesis Contract and General Contract.
  • Ledger layer: Thi ledger includes Bytom’s Master Program and Data Structure, which have three parts:
  • A program for issuing assets.
    • An asset management program
    • A consensus mechanism.

 

#3 - How to buy and store Bytom coin?

How to buy Bytom Coin?

Bytom platform issued 67% of its total tokens during its initial coin offering. The rest 33% tokens are reserved for giving rewards to BTM miners allowing users to obtain the Bytom coin through BTM mining.

  1. The Bytom cryptocurrency is also available for trading on several leading cryptocurrency exchanges, some popular options are OKEx, KuCoin, HitBTC, Huobi, Gate.io, CoinEx, Bibox, etc.
  2. Most cryptocurrency exchanges have paired Bytom with Bitcoin, Ether, and Tether.
  3. The ideal way to buy Bytom coin is by comparing rates on all exchanges and make an informed decision. Of-course this process can be time-consuming but  CoinSwitch offers to help users in this situation.
  4. CoinSwitch is the largest cryptocurrency trading platform. It offers to exchange more than 300 cryptocurrencies. Users can easily compare rates on several leading exchanges and trade BTM at best rates. In addition, CoinSwitch also provides a secure wallet facility to store BTM.

How to store Bytom Coin?

Bytom provides its official wallet to store BTM. The Bytom wallet is available for the popular operating system such as Windows, macOS and Linux. Apart from the official Bytom wallet, MyEtherWallet and imToken can also be used for storing BTM coins.  

 

#4 - What is the future of Bytom?

Trend So Far

  1. As of July 2018, with a market capitalisation of over $293.4 million, Bytom cryptocurrency is rallying on 42th position in global cryptocurrency market. Over 1,002 million BTM tokes are in circulation out of the total supply of 1,407,000,000 BTM.
  2. On August 08, 2017, Bytom began trading at a initial price of $0.110950. Bytom’s price has grown with occasional declines and during April 2018, its price reached its highest price of all-time of $1.17. As of July 2018 Bytom is trending around $0.293.

Also Read: Complete Analysis of Bytom | Live Bytom (BTM) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.371500

0.375801

0.363930

0.373490

129,049,000

372,428,000

May 01, 2018

1.01

1.01

0.949910

1.00

74,258,900

993,775,000

Mar 01, 2018

0.341199

0.354381

0.336421

0.348532

10,778,600

336,763,000

Jan 01, 2018

0.357302

0.373368

0.339326

0.366796

14,426,400

352,657,000

Nov 01, 2017

0.087655

0.088158

0.082392

0.085396

279,181

86,515,500

Aug 08, 2017

0.110950

0.115141

0.110216

0.112791

7,543,670

-

*Note: All prices are in USD

Future Trends

Forcastors believe that Bytom price has the potential for long term growth. Analysts say its price is expected to rise by 1904.29%, reaching at $5.86 by 2023. However, these predictions can change with time, considering the volatility of cryptocurrency market.

 

#5 - How is Bytom different from other cryptocurrencies?

Bytom is one of the highly technological projects today. While most cryptocurrencies are only a peer-to-peer transactions system, Bytom is a complex blockchain network, which unifies several elements (digital or real) on one platform.

Bytom blockchain protocol is serving as an intermediary between the generalised blockchains and the specialised blockchains, this allows a seamless interoperability across multiple blockchains.

There are several key differences, which makes Bytom different from other cryptocurrencies.

  1. Bytom is compatible with the UTXO (unspent transaction output) model of Bitcoin.
  2. Bytom uses a general address format, which grants the support for multi-currency.
  3. Bytom allows Cross-chain asset dividends distribution through side-chain.
  4. Bytom’s Tensority PoW algorithm allows use of outdated AI ASIC-chips for mining through AI hardware acceleration services.

 

#6 - Should you invest in Bytom?

  1. Bytom presents itself as a unique blockchain solution to many problems connected to the investment market. It is not competing with other payment networks. Instead, Bytom is trying to bring several elements in markets closers.
  2. In a short amount of time, Bytom has shown a rapid growth and a lot of corporates are eying on this project. As an investment, it has already demonstrated its ability to deliver high profits. As of July 2018, Bytom price is around $0.29, enabling a nearly 300% return on investment.
  3. Bytom is using some groundbreaking technologies. In April 2018, the launch of its Tensority Algorithm caused a substantial hike in its price, reaching as high as $1.17. And in near future the development promises to bring many new technologies.
  4. Analysts and Bytom community are hopeful that Bytom is a lucrative investment for long term.
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