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Bytom
About Bytom
Bytom (BTM) is an open-source blockchain protocol for decentralized exchange of diverse assets, bridging digital and physical worlds. Its three-layer structure supports various asset formats, with unique consensus mechanisms and transaction models for secure, efficient asset management. BTM tokens, the platform’s native cryptocurrency, pay for transaction fees and services, reward miners, and enable participation in governance. The project was initiated by Bytom Blockchain Tech Ltd, associated with Chang Jia, founder of 8btc, and Duan Xinxing, co-founder and former CEO of 8btc.
Bytom is a blockchain-based open-source protocol that endeavors to facilitate the decentralized exchange of diverse asset classes. It aspires to create a connection between the digital and physical worlds, establishing a network where various digital and physical assets can be registered and exchanged.
The Bytom token (BTM) is the native cryptocurrency of the Bytom platform, serving a crucial function in the maintenance and operation of the Bytom ecosystem.
The Bytom platform utilizes a three-layer structure that includes an application layer, a contract layer, and a data transmission layer. This structure is intended to support a range of asset formats such as income assets, securitized assets, and equities. The platform's protocol also incorporates distinctive consensus mechanisms and transaction models aimed at ensuring the secure and efficient management of assets on the blockchain.
BTM tokens are employed for various purposes within the Bytom ecosystem. They are used to pay for transaction fees and services on the Bytom network, including asset registration and transaction costs. Additionally, BTM is integral to the network’s Proof-of-Work (PoW) consensus mechanism, rewarding miners for transaction validation and network security. BTM also facilitates participation in governance by enabling token holders to vote on decisions regarding network upgrades and changes.