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BytomDAO

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BytomDAO FAQ

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### What is BytomDAO? BytomDAO is a cryptocurrency and decentralized finance (DeFi) platform designed to facilitate seamless interaction between diverse digital assets. As an open-source protocol, BytomDAO enables developers and users to engage with blockchain technology effectively, providing a comprehensive ecosystem for digital asset management. The platform is built on the principles of reliability, transparency, and efficiency, catering to a global community of users who seek to harness the potential of blockchain-based financial solutions. For detailed information, performance analytics, and the latest updates on BytomDAO, please refer to Eulerpool.

BytomDAO (BTM) is a blockchain-based open-source value-exchange protocol designed to tokenize real-world assets. It supports the creation and circulation of assets such as warrants, securities, dividends, and bonds on its blockchain, allowing users to manage and exchange these assets seamlessly. BytomDAO's ecosystem offers a range of products, including the DeFi protocol MOV, which incorporates trading and asset lending protocols supported by layer 2 sidechain technology. The MOV protocol serves as a cornerstone of BytomDAO's DeFi offerings, supporting a wide array of financial products and ensuring continuous improvement. Additionally, BytomDAO has developed the Open Federation Management Framework (OFMF) for cross-chain interactions, the enterprise blockchain Bystack, and the high-speed sidechain Vapor, which employs BBFT and DPoS consensus mechanisms. BytomDAO's innovative approach extends to its organizational structure within the Web3 ecosystem. It is pioneering a new form of decentralized autonomous organization (DAO) that utilizes Generative AI (GenAI) technology. This system aims to transform governance processes from the traditional "Vote - Execute" model to an advanced "Create AGI - Decided By AGI" framework, by integrating artificial general intelligence with decentralized democracy. Moreover, BytomDAO emphasizes user empowerment by providing control over personal data and offering the option to monetize it. This focus on data sovereignty aligns with its broader mission to bridge the gap between physical and digital assets, creating a more secure and efficient system for asset management.

What technology underpins BytomDAO?

BytomDAO, denoted by the ticker BTM, harnesses GenAI technology to establish a decentralized autonomous organization (DAO) focused on tokenizing real-world assets and integrating generative AI with blockchain. This pioneering strategy emphasizes asset tokenization and data assets, aiming to revolutionize traditional governance methodologies. Unlike the traditional "Vote - Execute" model, BytomDAO envisions a framework where decisions are generated and finalized by artificial general intelligence (AGI). The blockchain underpinning BytomDAO is crafted to guarantee the immutability and security of recorded model information, which is vital to deterring malicious attacks. Its decentralized architecture ensures that data is disseminated across numerous nodes, making it exceedingly challenging for any single entity to alter or compromise the information. Furthermore, BytomDAO utilizes sophisticated cryptographic methods to secure transactions and data, ensuring access and modification rights are exclusive to authorized entities. BytomDAO's ecosystem is enriched with a variety of products and protocols that augment its functionality. A key element is the DeFi protocol MOV, encompassing a trading protocol and an asset lending protocol. Through layer 2 sidechain technology, MOV facilitates a broad spectrum of financial products, enabling efficient and secure transactions. This protocol is committed to ongoing enhancement, ensuring its position at the cutting edge of decentralized finance innovation. The platform also integrates the Open Federation Management Framework (OFMF), an open cross-chain gateway that supports interoperability between different blockchain networks. This enables seamless asset transfers and interactions across various platforms, augmenting the overall utility of the BytomDAO ecosystem. Additionally, BytomDAO has engineered Bystack, an enterprise blockchain solution providing high-speed sidechain capabilities via its BBFT + DPoS (Delegated Proof of Stake) mechanism, known as Vapor. BytomDAO's dedication to the Web3 ecosystem is manifested in its emphasis on content applications and the organizational structure of digital assets. The platform seeks to bridge the divide between physical and digital assets, empowering users to create and circulate assets without restrictions. This open-source value-exchange protocol advocates the tokenization of diverse real-world assets, such as warrants, securities, dividends, and bonds, offering increased flexibility and accessibility in asset management. To assist its users, BytomDAO supplies an array of tools, including the mobile wallet Bycoin and the Chrome extension wallet Byone. These wallets offer secure and convenient means for users to manage their digital assets, ensuring seamless participation in the BytomDAO ecosystem. Moreover, the data service provider Blockmeta delivers valuable insights and analytics, aiding users in making informed decisions concerning their assets and transactions. BytomDAO's groundbreaking approach to governance and asset management is further enhanced through its implementation of generative AI. This technology facilitates the creation of intelligent models capable of making autonomous decisions, minimizing the need for human oversight and boosting governance efficiency. By integrating AI with blockchain, BytomDAO presents a more dynamic and responsive system adaptable to evolving conditions and user demands.

What are the practical applications of BytomDAO in the real world?

BytomDAO (BTM) is a blockchain-based, open-source value-exchange protocol specifically designed to tokenize real-world assets such as warrants, securities, dividends, and bonds. One of its core applications is to enable users to create and circulate these assets without restrictions on the Bytom blockchain. This functionality facilitates the seamless integration of traditional financial instruments into the digital realm, making them more accessible and facilitating easier trading. In the sphere of decentralized finance (DeFi), BytomDAO is highly significant. Its DeFi protocol, MOV, encompasses a trading protocol and an asset lending protocol. By employing layer 2 sidechain technology, MOV supports a comprehensive array of financial products, which enhances the liquidity and functionality of digital assets. This advancement allows users to partake in intricate financial activities such as lending, borrowing, and trading with heightened efficiency and reduced costs. BytomDAO is also integral to governance and transaction fees within its ecosystem. Users can stake BTM to engage in consensus node elections, thus influencing the network's direction and decisions. This decentralized governance model ensures that the community participates in the protocol's development and operations, promoting transparency and inclusivity. Beyond financial applications, BytomDAO holds potential in content applications and the organizational structuring of digital assets. For example, it can be used for model ownership verification and application, ensuring that digital content and assets are correctly attributed and managed. This is particularly significant in industries like digital art, music, and other creative sectors where ownership and rights management are essential. BytomDAO's capabilities extend to cross-border payments and e-commerce, delivering a secure and efficient method for transferring value across different jurisdictions. This can simplify international trade and reduce the expenses associated with conventional banking systems. Additionally, BytomDAO can be employed for identity authentication, thereby enhancing security and trust in digital interactions. The ecosystem of BytomDAO includes various products that enrich its functionality. The Open Federation Management Framework (OFMF) supports cross-chain interactions, while Bystack offers an enterprise blockchain solution. Vapor, a high-speed sidechain utilizing BBFT and DPoS, provides extra scalability and performance. Blockmeta offers data services, and Bycoin and Byone serve as mobile and Chrome extension wallets, respectively, ensuring that users have convenient access to their digital assets. BytomDAO's broad applications and robust ecosystem render it a versatile tool for multiple real-world scenarios, ranging from finance and governance to content management and cross-border transactions.

What significant events have occurred for BytomDAO?

BytomDAO (BTM) is a blockchain-based, open-source value-exchange protocol crafted to tokenize real-world assets such as warrants, securities, dividends, and bonds. The Bytom blockchain enables users to create and circulate assets without constraints. Over the years, BytomDAO has participated in numerous pivotal events that have influenced its development and impact within the cryptocurrency sphere. A notable milestone for BytomDAO was the publication of its white papers, which outlined the fundamental principles and technical specifics of the protocol. This release provided a detailed overview of the project's vision and technical architecture, paving the way for future advancements. The creation of various products has been another cornerstone in BytomDAO's journey. Among these is MOV, a DeFi protocol encompassing a trading protocol and an asset lending protocol. Utilizing layer 2 sidechain technology, MOV supports a broad range of financial products, emphasizing constant improvement and innovation in the DeFi arena. In addition to MOV, BytomDAO introduced Bystack, an enterprise blockchain solution. Bystack employs BBFT + DPoS high-speed sidechain technology, known as Vapor, to deliver robust and scalable blockchain services for businesses. This development marked a significant step in BytomDAO's efforts to address enterprise needs. The establishment of BytomDAO as a non-profit organization was another pivotal event, underscoring the project's dedication to decentralization and community governance. This initiative aimed to ensure that the development and management of the Bytom ecosystem remained transparent and community-driven. BytomDAO has also concentrated on creating a decentralized platform for model ownership verification and application. This effort underscores the project’s broader vision of facilitating secure and verifiable ownership of digital and real-world assets on the blockchain. The unveiling of BytomDAO's roadmap provided a clear and strategic vision for the project's future. This roadmap delineated key milestones and objectives, offering the community and stakeholders a transparent view of the project's direction and priorities. The suspension of BMC-related assets was another notable event. This decision reflected BytomDAO's efforts to streamline its operations and focus on core aspects of the protocol, ensuring that resources were efficiently allocated to propel the project's growth and development. Airdrops and promotions have been central to expanding BytomDAO's user base and enhancing community engagement. These strategies have heightened awareness about the project and incentivized participation within the Bytom ecosystem. Participation in various events and conferences has been instrumental in BytomDAO's efforts to forge partnerships and foster collaboration within the blockchain and cryptocurrency industry. These engagements presented valuable opportunities for networking, knowledge sharing, and showcasing BytomDAO's innovations. BytomDAO has also been actively advancing its AI capabilities, striving to integrate advanced technologies into its ecosystem. This focus on AI underscores BytomDAO's commitment to staying at the forefront of technological advancements and enhancing the functionality and efficiency of its platform. The global expansion of BytomDAO's operations has been a strategic priority, reflecting the project's ambition to reach a broader audience and establish a strong presence in crucial markets worldwide. This global growth is vital for driving adoption and fostering a diverse and vibrant community. BytomDAO has developed a series of products in addition to the Bytom blockchain. These include the open cross-chain gateway OFMF (Open Federation Management Framework), data service provider Blockmeta, mobile wallet Bycoin, and Chrome extension wallet Byone. Each of these products adds to the overall functionality and versatility of the Bytom ecosystem, offering users a comprehensive suite of tools and services. These key events and developments have collectively shaped BytomDAO's trajectory, establishing it as a significant player in the blockchain and cryptocurrency landscape.

Who are the founders of BytomDAO?

BytomDAO (BTM) is an open-source value-exchange protocol built on blockchain technology, specifically designed to tokenize real-world assets such as warrants, securities, dividends, and bonds. The company was founded by Chang Jia, with its headquarters located in China. Chang Jia has been instrumental in the inception and enhancement of BytomDAO, utilizing his expertise to establish an innovative DAO system based on GenAI technology. BytomDAO has created a range of products, including the DeFi protocol MOV, the open cross-chain gateway OFMF, the enterprise blockchain Bystack, the BBFT + DPoS high-speed sidechain Vapor, the data service provider Blockmeta, the mobile wallet Bycoin, and the Chrome extension wallet Byone.

Investors interested in BytomDAO are also interested in these Cryptos

This list presents a carefully selected selection of Cryptos that might be of interest to investors. We have our own crypto analyses for all listed Cryptos on Eulerpool.

Beginnings and the Rise of Cryptocurrencies

The history of cryptocurrencies began in 2008 when an individual or group using the pseudonym Satoshi Nakamoto published the whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System." This document laid the foundation for the first cryptocurrency, Bitcoin. Bitcoin utilized a decentralized technology known as blockchain to enable transactions without the need for a central authority.

In January 2009, the Bitcoin network commenced with the mining of the Genesis Block. Initially, Bitcoin was more of an experimental project for a small group of enthusiasts. The first known commercial purchase using Bitcoins occurred in 2010, when someone spent 10,000 Bitcoins on two pizzas. At that time, the value of one Bitcoin was just fractions of a cent.

The development of other cryptocurrencies

Following the success of Bitcoin, other cryptocurrencies soon emerged. These new digital currencies, often referred to as "Altcoins," sought to use and improve blockchain technology in various ways. Some of the most well-known early Altcoins include Litecoin (LTC), Ripple (XRP), and Ethereum (ETH). Ethereum, founded by Vitalik Buterin, was particularly distinct from Bitcoin, as it enabled the creation of smart contracts and decentralized applications (DApps).

Market Growth and Volatility

The cryptocurrency market grew rapidly, and with it public attention. The value of Bitcoin and other cryptocurrencies experienced extreme fluctuations. Highlights such as the end of 2017, when the Bitcoin price nearly reached 20,000 US dollars, alternated with sharp market crashes. This volatility attracted both investors and speculators.

Regulatory Challenges and Acceptance

As the popularity of cryptocurrencies rose, governments around the world began to grapple with the regulation of this new asset class. Some countries adopted a friendly stance and encouraged the development of crypto technologies, while others introduced strict regulations or outright banned cryptocurrencies. Despite these challenges, the acceptance of cryptocurrencies in the mainstream has steadily increased, with companies and financial institutions starting to adopt them.

Recent Developments and the Future

In recent years, developments such as DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) have broadened the range of possibilities offered by blockchain technology. DeFi enables complex financial transactions without traditional financial institutions, while NFTs allow for the tokenization of artwork and other unique items.

The future of cryptocurrencies remains exciting and uncertain. Questions about scalability, regulation, and market penetration remain open. Nevertheless, interest in cryptocurrencies and the underlying blockchain technology is stronger than ever, and their role in the global economy is expected to continue growing.

Advantages of Investing in Cryptocurrencies

1. High Return Potential

Cryptocurrencies are known for their high potential returns. Investors who got in early on projects like Bitcoin or Ethereum have made substantial gains. This high return makes cryptocurrencies an attractive investment opportunity for risk-seeking investors.

2. Independence from Traditional Financial Systems

Cryptocurrencies offer an alternative to the traditional financial system. They are not bound to the policies of a central bank, making them an attractive hedge against inflation and economic instability.

3. Innovation and Technological Development

Investing in cryptocurrencies also means investing in new technologies. Blockchain, the technology behind many cryptocurrencies, has the potential to revolutionize numerous industries, from financial services to supply chain management.

4. Liquidity

Cryptocurrency markets operate around the clock, which means high liquidity. Investors can buy and sell their assets at any time, which is a clear advantage compared to traditional markets that are tied to opening hours.

Disadvantages of Investing in Cryptocurrencies

1. High Volatility

Cryptocurrencies are known for their extreme volatility. The value of cryptocurrencies can rise or fall quickly and unpredictably, posing a high risk to investors.

2. Regulatory Uncertainty

The regulatory landscape for cryptocurrencies is still emerging and varies greatly from country to country. This uncertainty can lead to risks, especially when new laws and regulations are introduced.

3. Security Risks

While blockchain technology is considered very secure, there are risks associated with the storage and exchange of cryptocurrencies. Hacks and fraud are not uncommon in the crypto world, which requires additional precautions.

4. Lack of Understanding and Acceptance

Many people do not fully understand cryptocurrencies and the underlying technology. This lack of understanding can lead to misguided investments. Additionally, the acceptance of cryptocurrencies as a means of payment is still limited.