Bytom is a blockchain platform that was launched in 2017. It is designed to provide a decentralized infrastructure for the management and exchange of digital assets, including cryptocurrencies, tokens, and other digital assets. Bytom aims to bridge the gap between the digital and physical worlds by enabling the creation of new asset classes that can be traded on a global scale.
Bytom works by using a proof-of-work consensus algorithm, which allows nodes on the network to validate transactions and add them to the blockchain. The platform also supports the creation of smart contracts, which can be used to automate complex business processes and create new financial instruments.
One of the key features of Bytom is its focus on interoperability. The platform is designed to be compatible with a wide range of other blockchain platforms, including Ethereum, Bitcoin, and Hyperledger. This makes it easier for businesses to adopt blockchain technology and create dApps that can be used in a wide range of industries.
Bytom also has its own cryptocurrency, called BTM, which is used to pay for transaction fees and to incentivize nodes to validate transactions on the network. BTM holders can also earn staking rewards by holding their tokens in a Bytom wallet and helping to validate transactions on the network.
The platform has partnerships with a number of high-profile companies, including Bitmain, which uses Bytom to provide blockchain-based services to its customers, and 8btc.com, one of the largest blockchain news portals in China. This makes it easier for businesses to adopt blockchain technology and create dApps that can be used in a wide range of industries.
Finally, Bytom has a strong focus on privacy and security. The platform uses advanced cryptography techniques to ensure that transactions are secure and confidential, and it is designed to be resistant to hacking and other forms of cyber attacks. This makes it an attractive platform for businesses and individuals who are concerned about the security of their data and transactions.