Bytom (BTM) – A Complete Beginner’s Guide

Written by Adolph Obasogie - Reviewed by Coin Review Team

Published: May 21, 2018 | Last Updated: Mar 14, 2019

2024-10-09T13:37:26+00:00

What is Bytom?

Bytom is an interactive, blockchain-based protocol for financial and digital asset applications. It offers the functionality of registering and exchanging digital assets like Cryptocurrencies as well as financial assets like bonds, securities or intelligence data. Bytom aims to be the platform that provides the standard for tokenized assets, and it functions as a bridge of interoperability between digital and physical assets. All registered assets can be traded on-chain, this eliminates the middleman and thereby reduces cost and speeds up transaction times. Bytom even enables cross-chain exchange of assets through the use of sidechains.

The Bytom token (BTM) is used for transaction fees, dividends and asset issuance deposits.

Table of Contents:

History

The ICO was held from 20 June 2017 till 20 July 2017 and 2,286,000 USD were collected.

It was founded by Chang Jia and Duan Xinxing.

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Can it be mined?

Yes, it is based on Proof-of-Work. Bytom created its own consensus algorithm, called “Tensority.”

What differs it from other Cryptocurrencies?

Bytom focusses on the tokenization of assets and interoperability between different asset classes.

How much is Bytom worth today?

What is the total and the circulating supply?

The total supply of BTM is 2,100,000,000 and the circulating supply at the time of writing is 987,000,000 BTM. The Bytom foundation holds a reserve of 420 million BTM.

Where can you buy BTM?

You can buy BTM on several cryptocurrency exchanges, most notably OKEx and Huobi.

To find out insider news, before-the-public, I advise you to bookmark www.blockchainwhispers.com

Can BTM be sold for cash?

You can sell BTM for cash on several cryptocurrency exchanges that have fiat-pairings, most notably OEX (not recommended).

Future Development

Bytom released its mainnet on 24 April 2018. It claims that it has successfully passed the Howey Test which means it is not classified as a security by the SEC.

Verdict and Rating

3.5/10
Solid project with good architecture. What concerns me is the high supply, and it remains to be seen if it can establish itself as the leading protocol for tokenization. Bytom is based in China which adds a lot of uncertainty about regulatory issues and the supply is fairly high.

The most accurate crypto website in existence, Blockchain Whispers, discussed the regulatory situation regarding blockchain projects of Chinese origin several times. I can highly recommend it, visit here at https://blockchainwhispers.com/premium/

3.5 / 10.0

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Disclaimer

The writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.