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Bytom (BTM) Prepares to Win the Game of Cryptos

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Bytom
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Interoperability has been the goal of many projects that are based on the blockchain. Interoperability means a way to facilitate communication and transfer of digital assets between separate blockchains. Bytom was created not just for developing this solution, it was designed in such a way that it can connect the digital connection and ‘atomic’ worlds.

Based on Proof-of-Work hashing algorithm, Bytom is known as an interpretational protocol which supports multiple assets. Bytom is used to reduce the gap between the real world and blockchain. It’s a company based in China and according to Bytom’s white paper, the main objective of the Bytom team is to bring ‘atomic assets’ on the blockchain.

Strategic Co-operation with East Lake Big Data Asset Exchange:

Bytom has been the center of attraction for a very long time and based on its recent performance at the end of Q2 it has proven to one of the most promising Chinese blockchain projects. The platform declared reaching the first stage of bringing assets on the blockchain or, asset blokchainisation when they reached a strategic partnership with 8BTC on April 12th.

This co-operation was made as an agreement that will promote the development of Bytom assets and East Lake Big Data Asset Exchange. The first big data exchange center is situated in central China and it’s the first government-approved domestic service organization and its providing one-stop big data solutions for government agencies and vertical market.

Bytom Algorithm Public Release:

Bytom created a buzz in its community when they completed their most-awaited event i.e. Bytom algorithm public release at the famed Massachusetts Institute of Technology (MIT). It was the first public event at which Bytom shared the in-depth details of its artificial intelligence friendly tensority algorithm. The tensority is a Proof-of-Work consensus algorithm which is based on tensor calculation.

This new scheme which is based on artificial intelligence is claimed to be an improved version of previous Bitcoin, Litecoin, and Ethereum algorithms. The conference consisted of many industry leaders, techies and entrepreneurs within the blockchain technology and they got introduced to the global elite on Bytom’s algorithm tensority. This event gave Bytom, a huge exposure which was required for a long time.

Bytom (BTM) Trading:

Bytom has placed itself in partnership with several pioneering companies and celebrated institutions in the blockchain. Bitmain, 8BTC, Wanchain, Superbloom are some of the few partners of Bytom. Apart from all these partnerships, Bytom has also collaborated with ConsenLabs who created imToken wallet app.

As for trading of Bytom (BTM), it is available on some of the most famous cryptocurrency exchanges such as KuCoin, Huobi, HitBTC, BigONE, Gate.io, EXX, Cryptopia, Bibox, Etherdelta and many others. It is available for trading on 29 different exchanges including the above-mentioned ones.

Its performance has remained stable since its inception and the token has experienced a gradual growth ever since. The highest volume of Bytom is traded on Bibox exchange via the BTM/BTC pair whose daily volume surmounts to $11 million. It’s not available for direct trading US dollars hence, traders buy Bytom with their Bitcoin/Ethereum.

Current Status:

Currently, the Bytom markets are rising at a rate of 6.44% and its price point has reached $0.94. Its total market capitalization as shown at CoinMarketCap is around $930 million whereas the total circulating supply remains at 987 million BTM. In light of the recent events and due to all positive buzz surrounding this project, there’s a good chance of observing it jumping from its current 25th rank.

Partnership with leading industries, milestone achievements have raised its reach and expanded its community which has ultimately led to attracting investors who trust this project. All of this resulted in the breakout observed in early April when Bytom touched above $1 mark but, in a few days, its price has stabilized to $0.89.

Conclusion:

It is evident that the development team working for Bytom wishes to set new standards and take asset digitization to a whole different level. They will realize an eco-system that is able to facilitate the creation and trade of a plethora of assets which are bound to orthodox financial systems and markets at present.

Bytom has consistently delivered their roadmap goals and the recent public release of Bytom’s algorithm has caused mixed signals from investors. But anyone can ascertain that Bytom is slowly establishing a strong presence in the ever-changing crypto markets. But it goes without saying that Bytom still has a long way to go.

We will be updating our subscribers as soon as we know more. For the latest on BTM, sign up for our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Harold Neal via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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