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.
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.
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
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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…
Warren Buffett and TRON’s Justin Sun Finally Meet for Charity Lunch
Should You Invest in TRON in 2020?
CoinField Launches Sologenic Initial Exchange Offering
featured2 weeks ago
Altcoin Magazine has Rebranded as The Capital and 100x’ed its ambitions
Don't Miss2 weeks ago
Best Study Resources to Pass CompTIA SY0-501 Exam and How Should You Use Exam Dumps to Prepare?
Bitcoin2 weeks ago
5 Best Places to Bet with Bitcoin
Don't Miss1 week ago
Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page
Don't Miss2 weeks ago
Learn 2 Trade Launches Real-Time Crypto Signals Service
Don't Miss2 weeks ago
What Prevents Crypto from Becoming the Top Payment Method
Featured news7 days ago
5 reasons why you should use a brokerage exchange service to buy and convert cryptocurrencies
Don't Miss6 days ago
CoinField Launches Sologenic Initial Exchange Offering