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Bytom (BTM): The Rise of Blockchain in Asia

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The world has recently seen an upsurge in blockchain related project developments around the world. While the current situation in the cryptocurrency market is encouraging the growth of newer projects, only the elite few of the new assets which are issued on top of the existing blockchain can be considered important. One such new asset is Bytom, a Seoul based blockchain project.

A Little About Bytom

Bytom was founded by Duan Xinxing with the aim of combining the best of both worlds: Artificial Intelligence and Blockchain Technology. The primary focus of this project is on the creation of heterogeneous byte-assets, operating in different forms on its own blockchain. Through several twitter posts, they announced their intentions on focusing primarily on atomic assets, such as dividends and bonds. Not only that, Bytom will make atomic assets registered and exchangeable with a contract based operation. Bytom officially entered the market in August last year and reached an overall ranking of 28th according to coinmarketcap. As of 11/04/2018, Bytom’s market cap has reached an astonishing $602,613,837 USD with a circulatory supply of 987,000,000 BTM tokens.

Bytom’s Inner Workings

The Bytom project is definitely more technical in nature when compared to its peers, as evidenced by the project’s three layers: namely,

• Data transaction and transition layers
• Contract Layer
• Asset interaction Layer

To offer multiple currency support, the Bytom blockchain uses a general address. Assets which are issued and digitized on the platform are named according to the Open Data Index naming system for producing unique names. All other facets of the project are very similar to blockchain related projects, with the combination of private and public keys used for storing assets.

One salient feature of the Bytom blockchain is transaction signature separation. The transaction signatures are kept separately from the rest of the data belonging to a particular transaction. Verification of transactions is also very secure and fool-proof, by using the Bytom UTXO model.

Bytom’s Future Plans for Blockchain Technology

Bytom has spearheaded the blockchain revolution in recent times, with its development team keen on improving the Bytom ecosystem’s governance model before the first quarter of this year. The Bytom project has contributed heavily to the development and adaptability of blockchain technology, especially in China. The several aspects of Bytom’s contribution are listed below.

• Cross-Chain Asset Distribution: The concept of cross chain asset distribution introduced by Bytom aims at aiding developers to create a smaller side chain liked to the main chain. This is beneficial for providing them with full control over their individual projects, while still benefiting from the main-chain’s high degree of security.

• PoW Consensus Mechanism: In case of Bytom, the developers have completely redesigned the existing PoW Consensus Mechanism to make it different from that of Bitcoin. A major point would be the introduction of the matrix mechanism which allows Artificial intelligence technology to facilitate Bytom’s mining.

• Reducing Wastage of Resources: Due to Bytom’s high algorithm speed and a combination of other factors, Bytom can reduce wastage of resources. It is a well-known fact that the development of artificial intelligence has, in turn, increased the demand for ASIC miners. This creates a huge economic benefit for the mining market, which in turn greatly accelerates the development of AI ASIC chips.

Final Thoughts:

In conclusion, the Bytom project has a highly prospective future compared to its peers, due to its unique approach. Bytom’s Ai-friendly PoW algorithm is expected to aid in the full utilization of the world’s mining resources including ones that are removed or abandoned. The worldwide adoption of Bytom is also increasing, with Bytom tokens being listed on exchanges such as EXX, BigONE, Huobi, Gate.io, Cryptopia, Bibox, HitBTC, Kucoin, EtherDelta, CoolCoin, Allcoin and OKEx. In a market where several blockchain related projects have turned unprofitable or fraudulent, Bytom is certainly a breath of fresh air for investors, adapters and the industry at large.

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

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 Marcelo Druck via Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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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…

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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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