What is Bytom?
Bytom (BTM) is a blockchain platform that aims to connect the physical and digital worlds by promoting the interaction and circulation of assets between the two domains. This multi-bit asset interaction protocol seeks to create a diverse asset and programmable economy through the use of blockchain technology.
With the release of Bytom 2.0, the platform has undergone a significant overhaul of its economic model. This new version of Bytom boasts a reduced total supply, lower inflation, and higher rewards for node participants. Additionally, Bytom 2.0 has expanded the use cases for BTM, its native token, allowing for increased participation in governance, basic services, node elections, and other key aspects of the platform.
To enhance the new platform, the Bytom team has integrated Byte asset DeFi protocols to optimize asset circulation. Major advancements have been made in the model, consensus, and contract layers, which have greatly improved the economic and network security of the entire blockchain.
BTM holders have a significant level of influence within the Bytom ecosystem, as they can vote on important governance issues and participate in consensus node elections. By holding a certain amount of BTM, users can become consensus nodes and all BTM holders can vote for preferred candidates. Furthermore, Bytom allows for participation in mining other public chain projects, such as Ethereum, through cross-chain options.
In the event of new coin issuance by the Bytom ecosystem, a portion of the new coins may be allocated to users participating in BTM staking. Bytom offers transaction fee discounts for various products through its MOV protocol, which is customized for cross-chain DeFi and provides discounts based on the amount of BTM held by the user in Bycoin and Byone. BTM can also serve as collateral for MOV stablecoins and lending products, allowing users to borrow stablecoins or other assets.
The Bytom Foundation was established in Singapore and approved by the Singapore Accounting and Corporate Development Authority (ACRA). In 2017, the Bytom project was launched and the team was formed, with the first version of the white paper being published that same year. A revised version was published in 2021, further detailing the progress and advancements made by the platform.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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