Established in early 2017, the Bytom (BTM) Blockchain project was launched to develop a protocol that could tokenize assets from the physical world and represent them in the digital world on a decentralized network. Aiming to help businesses and individuals to register and exchange assets such as securities, bonds, deeds and various types of information, the Bytom blockchain uses a proof-of-work protocol that designed to enable customized contracts, promote AI technology, and provide unique identifiers for assets following a standardized naming convention.
What is Bytom?
Bytom is a blockchain protocol for financial and digital asset applications. Using the Bytom protocol, individuals and enterprises alike can register and exchange not just digital assets (i.e. Bitcoin) but traditional assets as well (i.e. securities, bonds, or even intelligence data).
The problem: Real world assets are becoming tokenized as we move ownership records and exchange ledgers to the blockchain. From a protocol level, though, there currently isn’t a unified way to map those assets from the physical to the digital world. Beyond mapping, there still needs to be some interoperability between the two asset forms as well to create one cohesive ecosystem. Until this happens, it’s hard to imagine a “tokenized” world. This is what Bytom is aiming to solve.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.