Bytom (BTM) is not as heard about although this currency is trading in the top 30 coins, specifically ranked as the 26th-best currency on the global coin ranking list. Being listed among the top is one of the things that you certainly want in a coin, especially after the market dip as harsh as the last one. Bytom was also one of the currencies that struggled in the market for weeks but is now slowly being recovered from the market. What is Bytom all about and what drives this coin?
Everything You Need to Known about Bytom
The reason why Bytom (BTM) might not be as heard of when compared with other currencies that are trading in the top 30 currencies, is the fact that Bytom is still a rather young blockchain-based project. Bytom is a currency that only entered the market officially in August of 2017, which would mean that BTM is not even a single year old.
Bytom represented itself as a combination of Artificial Intelligence and blockchain technology, said to combine the best of these worlds for the sake of creating a superb blockchain-based operational platform.
What might make Bytom a potentially interesting for investing in is their plan to create heterogeneous byte assets. These assets would be made with blockchain technology and created on an atomic level. That means that they are planning on creating their project in a way that these byte assets are operating on their own blockchain. Operations in this system would be based on contracts with a focus on atomic assets that would describe bonds and links in the blockchain-based ecosystem.
Moreover, Bytom is using the general address in order to be able to allow the issuance of multiple different coins on its blockchain platform.
Open Index data is working on the newly added assets, giving them random unique names, which enables the support of multiple different currencies. This is what makes Bytom different from other assets of this type, while other parts of its network are a combination of already familiar protocols and public and private keys that are often being used in blockchain-based platform creation.
Bytom and the Future of BTM
In order to stay on the top, a coin must be worked on for improvements and it seems that the BTM dev team is very well aware of this fact.
Bytom (BTM) is already contributing to the general, development of blockchain technology already in the first quarter of the current year. That is how the team was working on cross-chain asset distribution. With this project as represented by Bytom’s dev team, Bytom is aiming at creating an ecosystem that would besides from the main chain also have side chain formation that would be easily adaptable to fit the needs of different projects. The side chains would be highly scalable while all users would be able to take advantage of the main chain without jamming the traffic on the platform.
Another contribution to the world of blockchain technology is the modification of the PoW mechanism, as the team made it with reimagining PoW protocol used by Bitcoin by turning it into a unique and more functional PoW Consensus mechanism, which means that the Bytom team used Artificial Intelligence for creating a matrix mechanism, which describes and sets requirements for mining of BTM.
By implementing a protocol that would help them get rid of the waste resources, Bytom has made an amazing showcase of how AI technology and blockchain can meet to create something revolutionary. With this protocol, Bytom is protecting the resources from being wasted, particularly being focused on creating a massive mining market from which miners can benefit from.
With this kind of approach to the blockchain technology and Artificial Intelligence, Bytom seems to be one of the rare coins in the market that were made with a focus on technology evolution rather than on the profit.
Bytom and the Market
Bytom has been doing pretty well with recovering from the latest market crash, so this currency has seen some bright days during the past few weeks.
After the latest change in the market, BTM is trading in the green against the dollar. With this change, BTM got a raise of 1.49% against the dollar, which made its price go up.
However, BTM is trading in the red against ETH and BTC. Bytom is thus going down against Bitcoin for -3.32% while it is dropping against Ethereum by -7.45%.
After the latest change in the market, Bytom can be purchased at the price of 1.09$ per one unit, which is a pretty flattering value for a rather new coin.
At the same time, Bytom (BTM) has made a record of its all-time high today, on April 24th when this currency was being traded at the price of 1.13$ per one unit, which shows how amazingly well this coin is doing while recovering from the market crash.