Bytom Ecosystem Explained (1) -Bytom and its products
Bytom is a blockchain-based open-source value-exchange protocol. Bytom aims to create a bridge between assets and blockchain.
Just like Bitcoin, Bytom mainchain is protected by miners all over the world. By extending Bitcoin’s UTXO model to *BUTXO model, Bytom mainchain can support multi-asset transactions. By introducing BVM (Bytom virtual machine), it has greatly improved the scalability and programmability of Bytom.
Bytom has developed a series of products in addition to the Bytom blockchain.
1) A sidechain called Vapor.
2) Open cross-chain gate OFMF*(Open federation Management Framework)
3) MOV — A whole DeFi universe, which is a DeFi protocol
4) Bycoin — A mobile wallet that you can access many Bytom ecosystem.
5) Byone — A Chrome extension wallet that can access the Bytom ecosystem through websites
6) Bystack — An enterprise blockchain for business use-cases
7) Data service provider — Blockmeta.com
Bytom aims to create a bridge between assets and blockchain, to that end, so each product have played its role regarding this goal.
1) Bytom’s mainchain Bytom blockchain (PoW consensus that system is very robust) creating assets,
2) Sidechain Vapor (with higher TPS, DPoS+BBFT, *16000TPS) can have the scalability to circulating assets.
3) MOV which built on Sidechain and can interact with Mainchain helps making a practical Decentralized Finance(DeFi) use case
4) Bycoin and Byone help users to access Bytom ecosystem by simply using a cellphone or PC
5) Bystack which helps Bytom access the business use-cases, helping mass adoption of Bytom’s technology for enterprise and organization.
Bytom — Blockchain innovation for asset
*Open federation management Framework (OFMF) is the cross chain gateway that allows partners to become members of the Federation and take charge of the multi-signature keys in the MOV cold wallet and help secure funds.
*BUXTO (Bytom Unspent Transaction Output) is the amount of Bytom coin you have left after executing a transaction, it extended of Bitcoin’s UTXO.
*TPS Transaction per second is the number of transactions a network is capable of processing every second.
