In this fiercely competitive cryptocurrency market, maintaining a decent market capitalization and sticking to a certain price range without much fluctuation is becoming increasingly difficult. Under the circumstances, several lesser-known cryptocurrencies are upping their individual games by undergoing frequent technical developments and engaging in lucrative partnerships with various organizations. In the past few days, many of the first 50 coins listed on Coinmarketcap have undergone significant changes and also have mentioned them in their weekly reports for the convenience of the numerous crypto-traders across the globe. Bytom certainly belongs to that group of currencies as the recent BTM developments have been published on 28th May in their latest weekly report.
Since its inception on 8th August 2017, Bytom has been offering some unique features to the crypto-traders around the world. The sole purpose of this China-based blockchain platform is to offer multiple assets under one single blockchain solution while bringing off-chain assets on-chain. The development team behind BTM focuses predominantly on atomic assets like warrants, dividends, intelligence information, forecasting information, bonds, and many more. This sui generis blockchain ecosystem is capable of bringing off-chain assets to the platform and enabling interaction between multiple chains. Here, the notable Bytom technical developments that happened in the past would be discussed along with their probable impact in Bytom’s future.
Noteworthy Technical Developments:
The development team behind BTM has managed to make some changes in its ecosystem that are likely to make Bytom’s blockchain platform more efficient as well as user-friendly. Some of these upgrades include:
- Decoder Program Interface: The API (Application Programming Interface) of Bytom has integrated decoder program interface in its system. This new interface would help BTM blockchain platform to analyze various contract instructions for the convenience of the traders accurately. The BTM team has been working on this project for a long time which concluded successfully in the last week.
- Implementation of the Mux_id Field: Bytom’s API consists of a get-block interface that was integrated with a mux_id field last week by BTM’s development team. This new implementation would support the management of unspent transaction output of the exchange.
- Front-end Upgrades: The team behind BTM has been able to make major upgrades on Bytom’s front-end. During this week, the front-end switched between a normal transaction and advanced transaction successfully while providing a “Humane” reminder. Also, it upgraded the moment.js and hjs-webpack libraries to the latest version while adding a shortcut to assist the entire operation.
- P2P Upgrades: During the past few days, the P2P underlying communication library framework has been completely optimized and tested. This would make the rapid discovery of nodes much easier and less time-consuming. Also, a UDP based node discovery protocol has been implemented by Bytom P2P in order to provide a stronger network topology. The rapid discovery protocol of specific node functions is still in progress and likely to be completed shortly.
- Updates with Bytom Wiki: The Wiki page of this currency has also undergone major changes in the previous week. English and Chinese documents have been added for mining pool docking. Also, the “docker” function has been implemented for running various technical documents associated with BTM successfully.
- Blockchain Explorer Upgrades: Bytom’s development team has made some conspicuous improvements on its blockchain explorer over the past few days. For example, node statistics and chain statistics of the API section have been added to the explorer. As a result, traders would be able to access any record as per requirement. Also, various API interfaces cognate to different assets have been integrated with Bytom’s blockchain explorer. The Bytom team managed to complete the performance optimization of the blockchain explorer backend which is likely to augment the data statistics efficiency to a great extent.
- Other Upgrades: Bytom team has completed the development of Java SDK (Software Development Kit) document and the SDK framework. However, the development of this innovative function is yet to be completed. Also, PPROF function has been implemented for monitoring inordinate memory usage and eventually preventing memory leaks.
Current Position of Bytom:
Despite the fact that Bytom still has not completed a year as a legitimate digital currency, BTM has been able to acquire a considerable amount of market capitalization. As of 30th May 2018, Bytom holds the 31st position on Coinmarketcap with a price equivalent to $0.63 approximately and a market capitalization of nearly 627 million USD. The recent upgrades have managed to cause a significant rise in both its price and market cap.
Final Thoughts:
To keep up with the current competition, every coin is coming up with various innovative upgrades that would increase its popularity among its holders even more. So, with the upgrades that Bytom has been able to manage and with its pre-existing features, things are likely to go BTM’s way at the moment. Based on these speculations, it would be safe to say that if you’re a crypto-trader and looking for some significant lucre, investing in this currency and holding onto it at least till the end of this year could be a wise decision.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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