Bytom cryptocurrency

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Code ticker : BTM. The maximum number of coins: 2 Programming language: Go. The project code is available on GitHub. Website: bytom. Founders and developers of the company believe that over time Bytom will become the most extensive service for the control, management, distribution, trade, exchange and distribution of digital assets. The White Paper of the company begins with a story about the existence of two worlds: atomic and byte.

In the first world, we exist physically and operate with corporeal assets guarantees, shares, dividends, property rights, forecasts, research , while in the second one, there is a cycle of digital-byte values cryptocurrencies and other digital assets as the developers call them. The mission of the project is to bring two worlds closer: atomic and byte. The creators of the company see their brainchild as a bridge, a conductor for users who want to take advantage of digital assets, also dealing with physical ones.

Bytom is a protocol for operations with a variety of assets. Using the mechanism of smart contracts, it allows you to:. According to the founders of Bytom, the purpose of the BTM tokens is to pay commissions for transactions in the system, pay dividends to the owners of assets and deposit funds on customers' deposits. As a result of these sanctions, lots of local Russian banks have been directly affected, with some of them even removed from Swift.

Global payment systems such as VISA also decided to halt their operations in Russia, in an attempt to endorse the financial boycott the country has been suffering. Even though some crypto out there crashed as soon as the war broke out in Ukraine, this is still one of the few select areas that have not been directly affected by any sanctions.

As we mentioned briefly in the introduction to this article, the western-imposed sanctions did not directly affect cryptocurrencies initially. It has reached its lowest value in recent times, going from USD 3. It has have rebounded since then. It is worth mentioning that one of the people behind the Ethereum, Vitalik Buterin, has been actively condemning the war since the beginning of the conflict.

His views on this can be seen on his official Twitter page. When it comes to the sanctions, they did not impact cryptocurrencies at once, but the situation is changing as we speak. According to American media, the President of the United States is looking for ways to block the use of cryptocurrencies on Russian soil, as has happened with other payment methods.

Bloomberg reports that the Biden administration was looking into this as early as the 28th of February the 4th day of the conflict. This, however, is not an easy task, as it goes against everything cryptocurrencies really are, as Binance itself, one of the leading cryptocurrency exchanges worldwide, has recently stated. Therefore, sanctioning them can be an almost impossible task.

In short, as things stand, it is unlikely that sanctions imposed by Western governments will have a significant impact on crypto, and will not, therefore, prevent crypto values from continuing to fluctuate, even more than usual, in the world market. As a consequence, crypto experts and investors began to worry about the future of cryptocurrencies with the continuation of this war. Now we can confidently say that the great collapse did not happen.

Shortly after the war-caused crash, crypto market prices have rebounded back to normal. On the contrary, we have seen a significant decrease in demand for cryptocurrency sales, particularly Bitcoin. This shows that, despite the uncertainty, investors are not worried about what may happen, preferring to keep their cryptocurrencies in order to wait for a rise in the market so they can sell at higher prices.

At the beginning of , we saw a big movement indicating that we would see cryptocurrency falling in value. Because cryptocurrencies are among the most unstable investments at the moment, we have seen this big drop in their values. At the present time, however, we can see that things are back to normal a bit. Not even the war between Russia and Ukraine managed to influence the cryptocurrency market that much, as it is something that has no connection with world governments.

While it is true that there was a drop in the early days of the invasion, it was short-lived and soon the value of most cryptos was on the rise again. Below, you can check out a list of the main cryptocurrencies that have been unstable this year, so that the investor can be aware of possible future collapses:.

Unsurprisingly, the price of cryptocurrencies is a rollercoaster ride. The small market is one of the main reasons for this, as it helps to amplify the other factors that cause this volatility. Although many are surprised by the values available across the cryptocurrency market, we need to understand that it is just a small drop in the great financial ocean.

While the market capitalization of cryptocurrencies is still in the billions, there are already several others in the trillions. Market liquidity , that is, the availability of exchange or trading an asset, is another very important point. If cryptocurrency trading rises or falls overnight, it will certainly have a significant influence on its time crypto price.

Finally, we also give importance to forks.