Quick Guide about Bytom and Its Native Token $BTM

3 min readDec 5, 2022

Bytom is a multi-bit asset interactive protocol that employs a unique, triple-layer approach to blockchain-distributed applications.

What is Bytom (BTM)?

Bytom is a cryptocurrency that employs a unique, triple-layer approach to blockchain-distributed applications. The first layer is for data transactions, the second is for transmissions, and the third is for asset interaction. Bytom is an interactive protocol with several bytes of assets, to give it its proper name.

The Bytom chain, which enables businesses and individuals to create and use peer-to-peer financial apps that make it simpler to register and exchange both digital and physical assets, is the centerpiece of the Bytom initiative. By using the Bytom token and the Bytom blockchain protocol, this is made possible (BTM). Bytom seeks to lay the groundwork for a future “asset-based” internet.

Bytom Token (BTM)

The ticker for the Bytom token is $BTM. In the following ways, it supports the operation of the Bytom ecosystem:

For payment of transaction fees
Dividends
Used for making asset issuance deposits.

There are 1,407,000,000 $BTM in the entire Bytom supply. A day before its launch on April 22, 2018, the coin reached an all-time high in January 2018 with a market cap of more than $1 billion, reaching $1.13 per Bytom coin.

The market capitalization of $BTM was $88 million as of March 2019, and more than 1 billion of the 1.4 billion planned tokens had already been issued.

The Bytom ICO was held between June and July of 2017, with distributions as follows:

Participants in the token program received 30% of the total supply. The BTC/ETH proceeds from the public sale will be used to finance the startup operations of the Bytom Blockchain, including development, cryptographic audits, marketing, legal, financial, and business matters, as well as the processing power required to operate the blockchain.
Bytom Foundation will get 20% of the money. To provide incentives for project development.
10% will be reserved for Bytom Coin business development.
For mining rewards, 33% will be set aside. Mining payouts are halved every four years until there are no longer any mining block rewards on the Bytom Blockchain, which uses the POW mechanism for consensus.

Team

The Bytom team is made up of Chinese cryptocurrency enthusiasts with some background in the blockchain industry. They include:

Chang Jia: Founder of Bytom and creator of 8tc, one of China’s biggest bitcoin and blockchain publication media

Dan Xinxing: Co-founder of Bytom and renowned for being the former vice president of OKcoin

Lang Yu: CEO of Bytom

Zhi Yiqi: CTO of the Bytom Foundation

Qu Zhaoxiang: COO

Li Zongcheng: CFO

Jin Lei: Co-CTO

Where to store Bytom (BTM)

According to the official Bytom website, BTM tokens can safely be stored in one of the following wallets:

Bycoin — a mobile digital multi-asset management platform
Byone — a chrome browser plug-in wallet
Bytom — a Bytom chain full-node wallet

Leading hardware wallets Ledger and Trezor are two of the safest places to store your Bytom (BTM) through their cold wallet services. Ledger is fully integrated with the Bytom Mainnet through the Ledger Live application.

Where to Buy and Sell Bytom (BTM)

You can Buy & Sell Bytom (BTM) here at BC Bitcoin.

You can Buy Bytom by heading over to the Buy Coins page of our website. Bytom is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Bytom has never been easier, simply place your order and provide your wallet address. Once your payment arrives, Bytom will be sent directly to your wallet.

If you choose to Sell Bytom (BTM), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

Bytom (BTM) Resources

Website: https://bytom.io/en/
Block Explorer: https://blockmeta.com/
GitHub: https://github.com/Bytom
Twitter: https://twitter.com/Bytom_Official

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers' responsibility to complete their own research and due diligence.