A Digital Asset Layer Protocol

Described as an "Interpretational protocol for multiple assets," Bytom intends to bridge the physical world and the blockchain, creating a digital asset layer protocol that establishes the infrastructure of the "Asset internet."

The Bytom white paper outlines the purpose of the project as "Connecting the atomic world and the byteworld to promote the interaction and circulation of assets between the two worlds" - but how does Bytom compare to established asset digitization platforms such as LAToken or NEO?

Bytom uses a three-layer architectural model that consists of an application layer, a contract layer, and a data transmission layer.

The entire platform will operate in a relatively simple manner - apart from functioning as a basic tool for asset ownership exchange, Bytom wants to streamline the process involved with digitizing virtually any asset.

The Bytom ecosystem is powered by Bytom Coins, which are the native asset of the Bytom blockchain.

The most straightforward level of the Bytom stack is the application layer, which allows PC, web, and mobile apps to call smart contracts to facilitate asset management.

The second layer of Bytom's platform model is the smart contract layer, which consists of a genesis contract and a general contract.

The third and final layer of the Bytom model is the most complex, functioning as the "Master Program and Data Structure." This layer consists of the permissionless public blockchain layer, which manages asset issuance.

Progress on the Bytom project is progressing steadily, with the first step of the Bytom "Asset blockchainization" process taking a major step forward with the announcement of a partnership between Bytom and East Lake Big Data Asset Exchange.

Bytom takes the concept of asset digitization very seriously - rather than attempt to create a bare-bones asset digitization platform, the Bytom dev team intend to create a fully-realized ecosystem that facilitates the creation and trade of a wide range of assets that are currently limited to traditional financial systems and markets.