bytom blockchain

Bytom Blockchain to Launch Open Gateway Protocol per Road Map 2020

January 8, 2020 Off By Steven Anderson

Duan Xinxing, Founder and CEO of Bytom,had previously stated the reasons for launching Bytom.  Duan wanted to create digital assets for the internet to provide support for multiple assets in the programmable economy. Sidechains are designed for staking services.

Bytom Blockchain tweeted:  “Bytom 2020 Roadmap. Keep MOVing! Here are three keywords of 2020:

1.  Productization. 

2.  Innovation

3.  Leadership.”

The Bytom Network is Intelligent, Flexible, and Efficient.  The Bytom Ecosystem consists of wallets, explorers, mining pools, exchanges, safety teams, and partners.

Bytom Blockchain Q1 RoadMap and

During the first quarter, Bytom Blockchain has scheduled the launch of the open gateway protocol; however, supporting cross-chain asset function between Bytom and another public blockchain on the mainstream.

An economic system is set to be built around the MOV agreement while working with the mainnet of the MOV cross-chain agreement.  A complete specification for the enterprise-level blockchain framework will also be issued.

Further, the roadmap for all the four financial quarters has been released.

BTM price is trending at $0.070850 with a 24-hour trading volume at $37,179,882. Price is up by 1.0% over the past 24 hours. The token has a circulating supply of 1.6 Billion coins with a max supply of 2.1 Billion coins.

Bytom Protocol

BYTOM protocol is an interactive protocol of heterogeneous byte assets.  These assets operate in different forms on the Bytom Blockchain. The protocol is compatible with UTXO, and asset naming is done using ODIN.  It is friendly to AI ASIC chips.  There are cross chains and side chains and separate transaction signatures.

The Bytom Blockchain is based on the POW consensus algorithm.  They make transferring assets from the atomic world to Byteworld.  The network sustains their community spirit by announcements, project weekly reports, articles, and videos.  Further, they synchronize updates regularly.  Bytom provides the tools required to develop customized applications on the platform. Chainlink is the oracle service provider of Bytom.

BTM events like a hard fork, listing, release, airdrop, if any, are periodically declared. The protocol can be adapted to different business environments making it easy to transfer assets from the atomic world to Byteworld.  There are block producer election rules applicable to those who are willing to be the block producer of the side chain.  Standby block producers are also elected. 

Bytom Sidechain Block Producer recruitment FAQ clarifies most of the queries.  The details of the rewards of Block Producers and Standby Block Producers are also provided there.

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