Bitcoin, Crypto currency, Blockchain

Bytom: Transfer of assets in the Byte world

5b5d169466011bde2e937f464a3c8e8a - Bytom: Transfer of assets in the Byte world

The Bytom Token wants to create a global exchange of not only digital Assets, but also assets of the real economy can be traded. The goal is to connect the physical world with the digital world of the Blockchain.

After a strong price increase of over 600% to its all-time high of 0.59€/Token, within a period of six months has established itself in the rather unknown ERC-20 tokens Bytom with a current market capitalisation of nearly 291 million, is ranked 43rd in the largest crypto-currencies.

To the editors of the time the Token is at a price of 0,29€ per Token. This means that the price has halved in the current market depression of the Kryptos.

The goal and Vision of Bytom

Behind the Coin, the idea of being able to by Assets, with all the resources of the world, in a kind of Online stock trade. This trade can be handled with the help of the Blockchain technology quickly and cost-efficiently.

Bytom would not be a better Bitcoin, Ethereum competition. The goal of Bytom is to connect the digital world and the physical world. It is a decentralised network is to be established, in the various digital and physical assets, and exchanged can be registered. Hereby, Bytom is to be the world’s largest dedicated public Blockchain platform, which combines the different asset classes, with the Blockchain and the liquidity, safety, and the value of these investments increases.

Bytom published all the information of the Investors on the Blockchain, so complicated formalities shall be abolished upon the transfer of ownership of assets. The transfer process is simplified, and transparency will be created.

The Bytom Token (BTM)

Currently, the network is still in development. The BTM exist as a Token on the Basis of the Ethereum Blockchain, which were sold in an Initial Coin Offering in June/July 2017 successfully.

The Bytom Token is the native currency of the Blockchain. Its value of Bytom Token (BTM) receives from its ability to characterize the digital economic activities in the Bytom Blockchain and measure. The owner of the Bytom Coins to shareholders of Bytom Blockchain and thus be able, at the highest level of Governance to participate.

In total, there are 2.1 billion Bytom Token. The Supply was divided as following:

Private Investors: 7%
ICO Distribution: 30%
Bytom Foundation: 20%
Business Development: 10%
Mining: 33%

Bytom can be stored as a ERC20-Token in the myetherwallet.com . The exchanges HitBTC and Cryptopia offer BTM to trade.

The Bytom Governance Model

The Bytom Blockchain has developed a comprehensive Governance model, that the control of the project is similar to a corporate take over’s structure. The Governance of Bytom is using the Blockchain to create a three-tier Governance structure, including a Bytom-owners-Assembly, the Autonomous Committee and the Executive Committee.

The Bytom-owners Assembly is the highest decision-making power. The Autonomous Committee is elected by the Bytom-owners-Assembly. The Executive Committee is in turn elected by the Autonomous Committee.

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Bytom is planning to Launch its own Blockchain in the second quarter of 2018. On 01. February 2018, was published the last Version of the current test network.

Bytom followed, in our view, an interesting approach to revolutionize trading with physical assets on the Blockchain. It is also noteworthy that the CEO of Bytom, is also the founder of 8btc.com is one of the largest Bitcoin News websites in China. His Knowledge is based on years of experience in the industry.

From our point of view, Bytom is an interesting project whose full power can only be with the Launch of the Mainnets evaluated. Therefore, it is necessary to keep in Bytom in the eye.

Official website: https://bytom.io/

White paper: read white paper

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