What is Bytom (BTM)?

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.

What is Bytom (BTM) used for?

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.

Who created Bytom (BTM)?

The Bytom project was initiated by a Chinese entity known as Bytom Blockchain Tech Ltd. The project is most prominently associated with Chang Jia, founder of the notable blockchain and cryptocurrency news platform 8btc, and Duan Xinxing, co-founder and former CEO of 8btc.