Review on Bytom by Pedro O. Alvino M.
Bytom an asset interaction system
Bytom a project that brings with it a model that wants to change the old system of exchanges of goods, since the world is constantly evolving, establishing a digital world for finance can become successful in the future, in a great way the vision of the project it is to integrate people to a large extent using the platform to manage and issue goods from the physical world through the bytom ecosystem functions
As for the platform model that consists of three layers, the application layer, which consists in the development of decentralized applications for programmers. The contract layer that costs the system of smart contracts that allow to establish the parameters of the issuance of assets on the platform and so that it also establishes the trade of said assets and the verification of dividend distribution
When working with the PoW consensus algorithm, it can be similar to other projects with this working consensus scheme, in which the BTM platform token that will serve as a management for transactions on the platform, in addition to establishing an interoperability network which allows operators to change BTC or ETH to BTM using the Xrelay function.
However, the platform has several functions that allow to improve the functionality of the user, by including BUTXO it gives its operators the advantage of avoiding double expenses when managing transactions.
Bytom certainly requires like any project a relevant adoption in the world of blockchain because that could determine the success for managers
Pros
- Innovative project migration of physical assets to digital
- It can have an impact on the finance market
- Modern asset designation system (ODIN)
- Supports the DLT protocol, which allows interaction between assets
- It is much lighter than the Ethereum network
- BTM accessible in multiple recognized exchanges and high liquidity
Cons
- There are already several competitors in the market
- The platform model can be complicated
- His vision of the project requires greater adoption to the world of blockchain, which requires time
