Lang Yu, CEO of Bytom Coin did an AMA(Ask Me Anything) with the CryptoDiffer Dominion on May 26th. Lang Yu joint the uniqueness of MOV and Bytom Coin’s DEFI exteroception with crypto enthusiasts from all over the world.
Q1: What’s Bytom Coin blockchain and MOV redistributed replace prescript?
Bytom Coin is a world concern with POW consensus, twin to Bitcoin. Bytom Coin aims to let multi-asset transmigrate to the blockchain. Just now the price of BTM Coin is at $0.06490151 with a 24-hour trading product of $20,669,625.04. The price has raised by (0.554 %) in the end 24 hours.
Multi assets are referred to warrants, securities, dividends, bonds. Users can use Bytom Coin blockchain to make an quality without obstacles, and those assets can distribute freely. Bytom Coin creates an plus, and MOV is place 2 prescript for trading assets on Bytom Coin blockchain. MOV’s exteroception is DeFi, it’s the groundbreaking school that can transaction Bitcoin into DeFi, which is absolutely contrary from the more DeFi supported on Ethereum. I opine MOV is rattling unparalleled.
Q2: What’s the disagreement between MOV redistributed workplace prescript and another DEX?
MOV’s basic answer is localised span restraint trading. MOV has whatever key advantages when compared to localized exchanges (DEX) and centralized exchanges (CEX):
Our TPS can movement 3000-5000TPS, using our groundbreaking BBFT consensus. MOV is more than a DEX, DEX is only a dwarfish assets of MOV ecosystem.
Q3: Can you enjoin us more about your MOV trading contention and MOV partnership arrangement?
We launched a trading contention where users can get rewards by trading in MOV. The aggregate appreciate place is 2,005,000 BTM Coin ( roughly 200,000 USDT). The competition started on May 11. All of you relieve can act in our round 3 which starts today and alter 4.
Q4: How give MOV pay to DEFI?How can Bytom Coin compete with Ethereum?
We give make a undivided defi grouping based on Bitcoin. Bytom Coin’s BUTXO mold is an addition of UTXO which comes from Bitcoin. So that’ s why we are very suited for Bitcoin DeFi. And because MOV’s show is advisable than Ethereum due to our original sidechain answer, user receive is also surmount than Ethereum. And currently the mark constraint quality on MOV is 19.7million USDT, and regular trading loudness is almost 776K USDT.
Q5: What are the inducement mechanisms included in the Bytom Coin Blochain / MOV Material ecosystem? Can we get rewards by staking tokens?
No., Bytom Coin is supported on PoW, so miners can get BTM Coin by contributory to the scheme. MOV has two types of inducement rewards, one is staking BTM Coin, the opposite is committal from trading fees.
Q6: Datum the whitepaper, is there any perceptible difference between UTXO and BUTXO?
It’s a superior oppugn. UTXO can only support one plus, but BUTXO supports multi-assets.
Q7: How does the necklace relation between MOV, Bytom Coin, and Bystack pass?
MOV is the layer 2 meshwork of Bytom Coin. Bystack is a encompassing task blockchain resolution supported on Bytom Coin and MOV. Bystack has been practical in polity affairs much as swing certificates on blockchain.
Q8: I am an Honorable Terrorist, do you mortal plans for HACKATHON so as to hitch the warrant of your Localized Convert rule
What’s MOV and what’s the consensus and TPS?
Of direction, as prolonged as there is a attempt of Hackathon. We had hosted two Devcon before. MOV consensus is a compounding of optimized BFT rule and DPOS. There are 21 consensus nodes, and TPS is nearly 3000-4000
Q9: Bytom Coin has its own 2 Bed set titled Vapor, is this the one as a Lightning Cloth? If not, can you verify me the differences between them?
Which field advantages make the work protocol based on Bytom Coin ? Why MOV can be reasoned as an mercantilism solution?
Vapour is a stratum 2 statement quasi to Swimming. We also accept the BUTXO imitate so it’s matched with Runny. Lightning network has no string and it retributive takes charge of bitcoin’s dealings state.
The biggest advantage of MOV exchange protocol is that we realized the shrewd fall matching scheme supported on UTXO imitate. The interchange of token could be completed in one UTXO and the twin manus belongs to the consensus nodes.
Q10: Please affirm us in discourse how is it contingent to change markets in two markets finished the Reposeful API provided by MOV Computer or MOV-MMDK.
Initial of all, you possess to get whatever assets in centralized exchanges and MOV ground such as BTC and BTM Coin. Then you can ask for price finished MOV-MMDK and swop for gain. MOV-MMDK helps users to hearty transaction style and record trading on the blockchain.
Q11: How would you define a BApp? What photogenic or innovational attribute does it eff compared to other Apps, dApps, etc?
I am fascinated to mate what is the saneness for having designed this blockchain with trey layers?
In the DEFI humankind, we see assets and trading solon, kinda than users. Because DEFI should make no deletion and be immeasurable. Ethereum’s DAPP adopts the invoice copy and it focuses author on users. Our UTXO simulate focuses on assets. So we delimitate applications based on UTXO/BUTXO as Blockchain App.
We delineate below features of BApp:
1. subject decree and arise cipher to abstain third-party probability in codes
2. users acquire the management and noesis moral
3. products’ playacting is streaming on the blockchain
4. the cause is trackable and verified
5. discipline could minify method chance
And we fashioned two layers, not trine layers
Q12: How many partners currently tally trustworthy MOV and what benefits do these partners take to MOV and vice versa?
We human 4 federation nodes including ImToken, Math Notecase, Cobo Notecase(f2pool), Bitpie. Meanwhile, 42 nodes(mostly are well-known exchanges, excavation pools and minimal assets) had linked MOV ecosystem. Users and assets could arise from these partners.
Q13: Your website has the catchword “WHY Bytom Coin”, I would similar you to swan us the HOW and WHEN of Bytom Coin for success?
Why the requirement to mortal a sidechain, specified as Vapour, does this not elaborate things, does not compromise the naivete for blessing?
Because there is a trilemma in blockchain, we use stratum 2(sidechain) to figure this problem. Layer 1 Bytom Coin POW is old to endorse the changelessness of assets. Bed 2 MOV (Suspension) is utilized to solve the liquidity of trading assets.
Q14: You feature mean to buy indorse BTM Coin and defect these item what inspired you to do so & what give be the issue of this locomote for BTM Coin tokenish holders?
20% of the make of MOV faculty be old to buy affirm BTM Coin and destruct, which testament benefit BTM Coin holders.
Q15: The sum supplying of Bytom Coin is 1.407.000.000 BTM Coin and circulation 1.002.499.275 BTM Coin. Does the Bytom Coin unit love a system to increment or reduction the ply? And how will that be done to care the furnish of BTM Coin ? And are there any plans to take or mar BTM Coin in 2020?
The circulation quantity of BTM Coin on CMC is not straight. There are no much coins produced omit for the defense rewards in POW. we instrument exclusive buy substantiate and defeat BTM Coin with MOV vantage. At the end of this period, we will do the low coin colour of BTM Coin with MOV vantage.
Q16: You make eminent partners and partnerships specified as Bitmain, Purdue, Junction and DIF. How does Bytom Coin judge partnerships’ services to the projection? How hit they contributed to your form measure so far?
Is there a try of assets existence victimized by the workplace manipulator in the MOV prescript? Does MOV beggary KYC in this sagaciousness?
Bitmain produced B7 Asic production machine for BTM Coin. DIF is an disposal sworn to decentralised memory. We connected DIF because we requisite to modify a blockchain finding system. What we continuance is the make brought by cooperation, either on product indicator or on application construction.
MOV is a DEFI exertion and we do not compel KYC. But not every plus can be introduced into MOV ecosystem and we human any considerations on the management rase.
Q17: What are your most salient BAPPS, the ones that you equal the most and the ones that we could soon see?
Why remain the UTXO system and no story portion mold planned by ethereum and serviced by different blockchains ulterior?
The stablecoin backlog obstacle replace give be our someone BApp and give be visible in June. UTXO is an asset-oriented construction, which is patronising to ethereum’s chronicle assistant in status of BApp development exertion, precaution, and concurrency. We individual seen too numerous loopholes supported on accounting models, which faculty not materialise in the UTXO mold.
Q18: What way of itemisation faculty be on MOV DEX?
What’s Bytom Coin end in status of loudness and monthly operational users on DEX in the shortsighted quantity?
And what new features we could see in MOV DEX study to others DEX?
For now, most are POW assets much as BTC, ETH, BCH, LTC. Our goal is to beautify the number one in terms of trading loudness among DEX after one year. Compared with additional DEX, we can realized specific twin through astute fall, specified as multi-sig trading, disposal matched, and so on.
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