Home Altcoins News Bytom (BTM) MOV Hailed Next-generation Decentralized Cross-Chain Layer 2 Value Exchange Protocol

Bytom (BTM) MOV Hailed Next-generation Decentralized Cross-Chain Layer 2 Value Exchange Protocol

bytom Cross Chain

Lesha, the Bytom ambassador stated that there is no stablecoin project currently that is built specifically for DeFi at an infrastructure level. Most stablecoin projects and DeFi projects are isolated stand alone applications. This is the key gap that MOV fills that could turn out to be a game-changer.

Further expressed that MOV is hailed to be the next-generation decentralized cross-chain Layer 2 value exchange protocol based on Bytom’s mainchain-sidechain architecture. It provides an open ecosystem to empower multiple projects across different chains to collaborate.

Also stated, it is expected that this will help create a new global financial system which will rapidly push the adoption of DeFi and the stable coins.  Since the DeFi gains popularity among the non-DeFi savvy crowd, they might need a simpler experience. Users might not want to spend hours understanding how to use every single product. Therefore one place from where they can interact with multiple projects on different chains will be a major factor to push DeFi adoption.

The Fourth Coin Burn of the Bytom Foundation was recently over. Reportedly, 169,962.5 BTM equal to 20% of MOVs one-month trading fee profit of August has been burned. 

Bytom blockchain recently expressed about Qiushan Liu, the principal researcher of Bytom Research Institute, explained Bytom’s “asset interoperability enabled cross-chain” technology in a Livestream which was hosted by 8btc.com, which can support asset circulation between different blockchains.

Sydney Ifergan, the crypto expert opined:  “Bytom Project very recently is undergoing a lot of development.  Expecting to see lot of unique and advantageous solutions.”

Bytom (BTM) Great Infrastructure for Commercial Platform

The new era of cryptocurrency blockchain from Bytom makes it possible to create diverse assets with a programmable economy.  BTM is intelligent, flexible, and efficient.

For those who do not know, Bytom Blockchain Protocol is an interactive protocol of multiple byte assets. Particularly, heterogeneous byte-assets which operate in different forms on the Bytom Blockchain. It is compatible with UTXO, has a general address format, Encryption Standard Compatible, Friendly to AL, ASIC chips, Asset naming is using ODIN, separate transaction signatures, enhanced trading flexibility, has cross-chain and side chain deals happening.

Also, Bytom blockchain adopts the POW consensus algorithm to provide for the security and decentralization of assets. The Bytom’s side chain Vapor makes use of pluggable technology to achieve different solutions.

Since Bytom has the public chain and the side chain as infrastructure for their commercial platform, the entire bottom layer of blockchain can be connected through an interactive protocol called Federation.

Transferring assets from the Atomic World to the Byte World happens like a breeze.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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