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Bytom cryptocurrency: let’s meet singularity!

14 May 2018 21:00, UTC
Aleksandre B
Bytom is a platform for managing digital assets. The project managers set ambitious goals for themselves and are full of optimism, while the BTM cryptocurrency is doing well at the market.

Bytom is a cryptocurrency, issued by the self-titled company from Singapore in August 2017.
Code (ticker): BTM.
The maximum number of coins: 2 100 000 000.
The algorithm for blockchain protection: Proof-Of-Work (POW).
Programming language: Go.
The project code is available on GitHub.
Website: bytom.io

The aim

Founders and developers of the company believe that over time Bytom will become the most extensive service for the control, management, distribution, trade, exchange and distribution of digital assets.

Philosophy

The White Paper of the company begins with a story about the existence of two worlds: atomic and byte. In the first world, we exist physically and operate with corporeal assets (guarantees, shares, dividends, property rights, forecasts, research), while in the second one, there is a cycle of digital-byte values (cryptocurrencies and other digital assets) as the developers call them.

The information revolution of our time brings the singularity closer (yes, Bytom developers don’t doubt that) with the help of the Internet and vast amounts of circulating information that is constantly processed. The mission of the project is to bring two worlds closer: atomic and byte. The creators of the company see their brainchild as a bridge, a conductor for users who want to take advantage of digital assets, also dealing with physical ones.

Technology

Bytom is a protocol for operations with a variety of assets. Using the mechanism of smart contracts, it allows you to:

  • register,
  • take trades,
  • make bets and perform many other transactions with user assets.

The functions of the platform are divided into three parts:

  • a smart contract management system;
  • a block of applied applications;
  • blockchain network.

The technological implementation of Bytom has some features:

  • the protocol can link and ensure the interaction of assets located on different platforms;
  • the addressing of the network Bitcoin;
  • the cryptographic protocols correspond to the Chinese state standard, and the hash calculation is performed not according to the distributed RSA algorithm, but according to the SM2 and SM3 developed in China;
  • POW implementation is friendly for mining equipment with the use of artificial intelligence;
  • the developers claim that their network is easier, faster and more convenient than the Ethereum system due to the implementation of parallel transactions and an improved system of customer verification.

Team

The company's management:

  • Chang Jia (Chiang Jia) is one of the founders of the popular 8btc project in China, a science fiction writer and the author of books about blockchain;
  • Duan Xinxing (Duan Xinxing) is a former vice president of the OKCoin cryptocurrency exchange.

Cryptocurrency

According to the founders of Bytom, the purpose of the BTM tokens is to pay commissions for transactions in the system, pay dividends to the owners of assets and deposit funds on customers' deposits. At the moment, cryptocurrency is the only project of the company, fully functioning and successfully established on the market.

Bytom wallet (BTM multi-currency) was developed to store and perform transactions with tokens. Wallets are available for most common platforms.

ICO

Bytom ICO, held in June-July 2017, raised funds in the amount of 8,400 Bitcoins. Pre-released tokens were distributed among private investors (7%) and ICO participants (30%), were reserved in company funds (20%), were directed to business development (10%) and were involved in Bytom mining (33%).

In the last week of ICO, tokens were sold at a price of 59,000 Bytom for 1 Bitcoin.

BTM on the cryptocurrency market

In August 2017, when the first BTM coins appeared on the market with a price of $ 0.11, the rate rose to $ 0.33, but already in September, it dropped to $ 0.08-0.09. Until the end of the year, the situation remained stable, and when the entire crypto exchange market began to grow, and BTM updated records with it. In early January 2018, Bytom cost about $ 0.66. The market slowed down and all digital currencies depreciated. But at the end of March, the BTM token began to grow in price, and by the end of April, Bytom coin price was $ 1.09.

Plans and prospects

Bytom roadmap for 2018 includes the launch of the final version of the main network in the second quarter. The stages of issuing visual clients for users of the company have already been carried out.

Corporate blog and project communities in social networks are regularly updated, Bytom employees participate in events for developers and businessmen working in the blockchain companies.

BTM cryptocurrency has good potential and a very stable position on the market: it holds in TOP-30. A gradual increase in price makes possible to consider this token an exciting and potentially profitable investment object.