Bytom (BTM) Profile

Bytom Token Profile (PDF)

Bytom is attempting to allow users to issue real-world (“atomic”) on its blockchain, which is based on Bitcoin’s source code. According to its white paper, the mission of the project is to “bridge the atomic world and the byte world […][and] build a decentralized network where various byte assets and atomic assets could be registered and exchange[d].” Bytom will attempt to achieve this by including the balances of both account-based blockchains (e.g. Ethereum) and UTXO-based blockchains (e.g. Bitcoin) in the same Bytom transactions. Although this is an interesting concept, no implementation details proving the feasibility of this model could be found in the project’s technical white paper. The paper also mentions the use of BTC Relay, an existing project that uses a smart contract to store Bitcoin’s blocks, as a potential implementation reference. As of this date, the Bytom network is live, but users can only perform basic functions, such as creating addresses and sending bytom-denominated transactions. The Bytom blockchain is programmed in Go and uses an ASIC-friendly consensus algorithm. It was created by the founders of 8btc, a popular Chinese Bitcoin news website.