Bytom Price & Charts
What Is Bytom ?
The Digital Revolution has shown to be as impactful as the Industrial Revolution over a century ago. However, unlike the Industrial Revolution, this new event is also changing the way we handle currency and do business. In less than 50 years humanity has gone from solving equations automatically to developing complex algorithms and having a blockchain.
Bytom Blockchain Protocol, developed by Chinese crypto company 8btc, it is an interactive protocol that allows byte-assets and atomic assets to operate in different forms on the blockchain thanks to contract-based interactions. If that sounds a tad convoluted, it can be placed in more simple words.
Bytom permits digital currency and digital assets (byte assets) as well as warrants, securities, dividends, bonds, intelligence information, and other real-world information (atomic assets) to be registered, traded, modified, used or cancelled through the Bytom blockchain. Ergo, Bytom seeks to create a decentralised platform where these two types of assets can be registered and exchanged.
The idea for Bytom came to the mind of Chan Jia, the founder of 8btc and head of the Bytom project. In an interview given to 8btc, Duan XinXing, co-founder of Bytom and current Executive President of 8btc, explained: “It was [Chang Jia’s] idea. If we introduce matrix operations and convolution operations in the hashing process of mining, making miners friendlier to AI ASICs than GPU and CPU, then the calculation required for blockchain consensus can also be applied to the AI hardware acceleration service, which will generate greater social benefits. On the one hand, the mining market will stimulate the market for artificial intelligence, expanding needs for the depth learning ASIC chips, just like the boosting effect to GPU market brought by current GPU-friendly PoW blockchain. On the other hand, outdated miners can be applied to AI hardware acceleration services, saving mining costs to realise a win-win situation .”
Bytom market capitalisation is quite high for a currency that is a coin that is struggling with the current Chinese ban. Bytom (BTM) sits at a market cap of $109,985,358 or 329,575 ETH. That makes the token the 56 most valuable token on coinmarketcap.com. Additionally, BTM nearly half a million in volume traded in the past 24 hours .
Lastly, like most Ethereum based currencies, Bytom does not need to be mined. All the tokens were created during a single event. From the 1,407,000,000 BTM created, 987,000,000 BTM are available for trading, which sets the price of Bytom at $0.111434 per Bytom.
Overall, Bytom is remarkable idea and platform that is seeking to change the way the digital world and the real world interacts with each other. The company’s whitepaper is available on their site in English or Chinese. If you want to get in touch with the company, you can follow their social media sites through the following links.