Bytom (BTM) — Creating the next era for decentralized assets and a programmable economy

Bytom (BTM) — Creating the next era for decentralized assets and a programmable economy

The biggest application of blockchain technology is, undoubtedly, the currency. The question is, what can this blockchain technology do beyond just currency and payments? To answer this question, it is very important to understand what a blockchain technology actually is, and how is it so disruptive. Technically, blockchain is nothing more than a simple architecture but its true power lies in its simplicity.

 

The basic purpose of blockchain is to create systems which are ‘trust-less’ These systems take out the human involvement, and place certain processes in place to detect bad behaviour and ensure that the systems run on its own. Bitcoin is a perfect example of such kind of trust-less system where its running without any human involvement or central authority, it has an incentive model in place for the miners who run the network, and it penalises those actors in the system which either cheat or go against the rules.

 

Generally, these trust-less systems that blockchain brings forward sound more like ‘automation’ except that there is nothing in common between them. Automation requires higher levels of human intervention and there are no monetary incentives or penalties to govern the system, unlike bitcoin and all other cryptocurrencies. Blockchain on the other hand is a system which can have automation in place for certain things like issuance of currency, block rewards, etc.

 

Now let’s come to the question — What is the second biggest application of blockchain? Many industry leaders believe that the answer to this question is ‘Decentralized Assets and Tokenization’. Anything that has some kind of value could be tokenized and represented on blockchain as an independent non-fungible token, e.g. a house, a car, a deed, a legal contract, etc. Companies are coming forward to disrupt this space of tokenization of assets and Bytom is one of them, with its native currency called BTM.

 

 

Bytom — Tokenizing Assets

 

 

Bytom is a public blockchain platform that was made to tokenize the physical world assets to the decentralized world in the form of tokens. Bytom is aiming to help businesses and individuals to register and exchange assets such as securities, bonds, deeds and various types of information directly through their public blockchain protocol.

 

The second most important feature of Bytom is the ability to run AI with Smart Contracts. You can easily tokenize the assets using smart contracts, customize your smart contracts, and exchange your assets in a decentralized world. It also has a side chain called Vapor which provides a layers to integrate centralized systems and APIs to the Bytom blockchain.

 

Bytom blockchain adopts POW consensus algorithm to guarantee the security and decentralization of assets. With the public chain and the side chain as infrastructure for commercial platform, the entire bottom layer of blockchain can be connected through an interactive protocol called Federation. 

 

 

 

Conclusion

 

 

The currency of Bytom blockchain is called BTM which is currently traded for $0.08 USD. Since its inception, BTM has surpassed a total market cap of $81 Million USD with a daily 24h trading volume of just over $7 Million USD.

 

BTM is also among the top 70 largest cryptocurrencies in the world and is gaining traction very fast. We recommend BTM to any investor who is looking to invest in innovative blockchain projects to future proof his investment.

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