What is Bytom?
Bytom has been described on the internet as being an “intermediary link” that brings together generalized blockchains with specialized blockchains. Since there have been no effective blockchain protocols in the past for this purpose, Bytom aims to help change all of this and deliver a platform that is able to aid in the exchanging diversified digital assets. Buy Bytom (BTM) India – BuyBitcoin
Bytom is a blockchain application designed to allow users to interact with both atomic assets and heterogeneous assets. Heterogeneous byte-assets are blockchain assets such as digital tokens and cryptocurrencies while atomic byte-assets are bonds, securities, dividends and other real-world assets which are registered on a blockchain. By using its blockchain, users are able to gamble, trade and manage both types of byte-assets from anywhere in the world.
(i) Good Compatibility:
This platform has been designed to work in unison with the UTXO model. As a result of this, Bytom consists of three layers:
- data transaction and transmission layer,
- contract layer
- asset interaction layer.
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(ii) Multi-Currency Support:
Through the use of a “general address format”, the native wallet that is provided to customers is able to provide support for a wide range of currencies.
Lastly, users have the ability to control their wallet for all assets by saving one master private key.
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The Bytom Token
The Bytom token is known as BTM. The BTM coin will be distributed to miners via the proof-of-work mechanism which rewards them for securing the network. The maximum supply of coins that will be added to the network is 1,407,000,000 BTM. The tokens will be used for:
- Transaction fees when assets are traded on the Bytom network
- Sharing dividends for income generating assets
- Backing assets issued on the network
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Because it runs as a side-chain on the Bitcoin network, users are also able to back assets issued on Bytom using bitcoin. This process is done using a contract known as Xrelay which automatically converts corresponding values of BTC to BTM.
Buy Bytom (BTM) in India
BuyBitcoin will soon add Bytom (BTM) cryptocurrency to the platform Keep visiting for updates.
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