Bytom is an interactive blockchain protocol of multiple byte assets that operate in different forms on the Bytom blockchain and atomic assets. Atomic assets are generally securities, bonds, warrants, intelligence information or any type of information that exist in the physical world. Bytom fills the gap between physical assets and digital assets to promote efficient flow of assets on-chain and off-chain. Bytom serves as an intermediary link that brings together generalized blockchain and specialized blockchain while exchanging diversified digital assets.
In a more specific term, Bytom acts as a public blockchain which addresses the issues related to asset management. In the current scenario, with the advent of blockchain technology, the economic structure is more composed of a byte structure. The evolution started with Byte Tool era (mail, excel), Byte Currency era (value of a currency is held in symbols, for eg: BTC, ETH), Byte Asset era ( Its more extensive and diverse, everything that has value in real life will be transformed into byte world).
Bytom is designed to be the public blockchain that aims to specifically solve or address the following issues relating to Byte Asset.
Bytom aims to bridge the gap between digital and physical world mainly through two ways:
Creation of diversified byte assets and standards: A global open platform for registration, creation of byte assets and to make it easier for users to understand.
Interactive tool for building diversified byte assets: Apart from the basic tool for asset exchange, Bytom will boast and support a more complex form of interactive tools like Triggering tool, Forecasting tool etc.
Compatibility: Bytom is compatible with the UTXO design of bitcoin and consists of three layers: data transaction and transmission layer, contract layer and asset interaction layer. Bytom is also compatible with National Encryption Standard thus having a higher efficiency of encryption.
General address format: Bytom's wallet is designed using BIP32, BIP43, BIP44 that supports for multi-currency, multi-account, multi-address and multi-key with Hierarchical Deterministic Wallets or HD wallet.
Asset naming using ODIN: The naming of assets will follow ODIN (Open Data Index Name) which will ensure uniqueness of asset across network and blockchain
AI ASIC chips friendly algorithm: Bytom uses Proof-of-Work algorithm that is friendly with AI ASIC chips in which miners could be used for AI acceleration services after they are outdated.
Quasi Segregated Witness design: This protocol allows interaction between a variety of asset in multiple blockchains and can be traded cross-chain, allowing different operators to interact in the same format.
Bytom supports various types of digital assets in which each asset is assigned an asset ID, which helps in to distinguish different assets. There are two types of assets running on Bytom network: Bytom Token and Assets.
There are three types of assets classified in Bytom Network:
Bytom token is BTM and PoW mechanism allows random anonymous miners to participate in the entire eco-system. Main uses BTM token are:
BTM has a total supply of 2.1 million coins and the company has distributed in the following way:
In its ICO, Bytom raised around $2.8 million through the sale of its token.