Bytom - Shitcoin Review
on Aug 03, 2018
That’s the name of the game and today we will review Bytom, a project aiming to tokenize all of our shit.
Let’s dig in…
Bytom (ticker: BTM)
Wtf is Bytom?
Bytom is a blockchain protocol allowing users to exchange both physical and digital assets. Hence their name “Bytom” is a mix of the digital world (BYTes) and the physical world (aTOMs).
Bytom wants to set the standard as the world begins to record assets on the blockchain. Bytom identifies assets in three main categories: income, equity and securitized assets. Income assets can include crowdfunding campaigns and government investments. Equity assets represent private equity investments from a personal perspective or corporate perspective. Securitized assets are performance based assets such as stocks, bonds and warrants and can show dividends as well.
BTM is Bytom’s native currency and is used to satisfy transaction fees, exchange monetary value and receive dividend rewards.
They run on a PoW consensus model (not ASIC resistant).
They also built Bytom with usability in mind. It is not just a registry of items. There is an application layer, contract layer and ledger layer. The application layer is where end-users interact with the system...they have a UI to view, store, and exchange your assets. The contract layer consists of different contracts that audit other contracts on the network (for added security..this is called the Genesis Contract) and allows for calculation and distribution of dividends (this is called the General Contract).
Tl;DR for lazy people: it’s a protocol allowing for the registration, storing and exchange of any asset imaginable :D (physical or digital).
Who tf is behind this shit?
Their founder and CEO is Duan Xinxing. He was a former VP of OkCoin. He led R&D at crypto companies such as: OkCoin, OkLink and Bytom. Chang Jia is another founder and he was the founder of 8bit (some shitcoin we think). Read more about them on their website.
Anyways, Mid-Tier shitcoin, cool efforts, good connections. Let’s see how they do.
Hope you learned some shit.
- Mike and Aaron