What is Bytom? What is the mining income of Bytom?
By Alice 24 Nov 2022

What is Bytom?

 

Bytom Blockchain Protocol (abbreviated as Bytom: Bytom) is an interactive protocol for multi-bit assets. Different forms of heterogeneous bit assets (original virtual currency, digital currency) and Atomic property (warrants, rights and interests, dividends, bonds, intelligence information, forecast information, etc. that have counterparts in the traditional physical world) can be registered, swapped, gambled, and more complex interactive operations based on contracts through this agreement . Connect the atom world and the bit world to promote the interaction and operation of property between the two worlds.

 

Bytom adopts a three-layer structure: network layer, contract layer, and data layer. The network layer is friendly to multiple terminals such as mobile terminals, which is convenient for developers to develop asset management applications; the contract layer uses the creation contract and control contract to carry out asset management. Issuance and management, the extended UTXO model BUTXO is applied at the bottom layer, the virtual machine is improved, and the introspection system is adopted to avoid the dead mix in Turing's completeness; the data layer uses distributed ledger technology to complete the issuance, consumption, and exchange of assets. For other behaviors, the consensus mechanism selects the artificial intelligence ASIC chip-friendly POW algorithm, and introduces matrix and convolution calculations in the hashing process, so that the mining machine is suitable for AI hardware acceleration services after being idle or eliminated, thereby generating additional social benefits.

 

 

 

Advantages of Bytom:

 

1. Compatible with the Bitcoin UTXO design, and can leverage the Bitcoin and Ethereum ecosystems;

 

2. The concept of BIP32, BIP33, and BIP44 will be introduced into the wallet design, and Hierarchical Deterministic Wallets (or "HD Wallets") will be used to provide support for multi-currency, multi-account, multi-address, and multi-key;

 

3. From the point of view of norms, national secret norms (SM2, SM3) and unified property symbol ODIN are applicable;

 

4. Select the POW algorithm that is friendly to artificial intelligence ASIC chips, so that the mining machine is suitable for AI accelerated services after being idle or eliminated, and has the rights and interests of the current blockchain coal industry, developers, ASIC and artificial intelligence industry ecological participants ;

 

5. Balance financial regulatory requirements and user privacy maintenance to achieve controllable anonymity;

 

6. Property exchange is one of the most important functions of Bytom, which is also the basic function that will be achieved in the first version of Bytom.

 

7. The management of income crowdfunding projects is one of the applicable scenarios of Bytom. Based on the programmable interface, built-in smart contracts when crowdfunding properties are sold, truly earmarking funds for exclusive use, so that investors have no worries;

 

8. Bytom can also be used for equity management of non-listed companies and securitization asset management. Users can use Bytom to reduce equity option management costs and expand financing channels; in addition, private equity fund managers can sell contractual funds through Bytom.

 

 

 

What is the mining income of Bytom?

 


Under normal circumstances, Bytom’s mining algorithm uses the consensus algorithm for calculation. If this method is used for calculation, it will be better, the calculated results will be more accurate, and the total number of mining will be more.

 

BTM Bytom mining income, the theoretical income is 332 yuan a day.

 

1. The total amount of mining is 693 million, which is established in the white paper.

 

Compared with the original total of 2.1 billion times, 630 million times were issued by Love Europe,

 

There were 693 million times of mining, 630 million times were reserved by the foundation, and 147 million times were invested during the Simu period.

 

2. Mining rate, an average of one block is dug out every 2.5 minutes. This time forecast value,

 

3. The reward for each mined block is 412.5, which will be halved in 4 years.

 

4. Adjust the difficulty every 3.5 days, not to mention the difficulty.

 

1440 minutes a day. There will be 576 blocks. One block rewards 412. 237312 coins. A coin is 6 yuan. The value is 1,423,840 yuan. 5,000 people share it equally, and one person earns 284 yuan a day. The first batch can be dug for a month, and the calculation rate will only increase when the next batch comes out. The first month can earn 8543 yuan. In a good situation, the price of the original chain doubles in a month. Profit that month. For mining farms, the benefits are still great. Sell the currency. Bailuo mine machine can also mine endlessly. This is some specific income generated by Bytom chain mining.

 

 

 

Speaking of this, I believe everyone has a certain understanding of what is Bytom and the mining income of Bytom. In general, digital currency is a very popular project at present, but it is inevitable that there will be some risks. No matter which currency you invest in, you must do a good risk analysis and do not invest blindly.


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