Bytom 2.0 Roadmap Explained: Usher in An New Epoch by Three Steps
To achieve a safe and stable transition from Bytom 1.0 to Bytom 2.0, Bytom decides to usher in a new era of Bytom 2.0 with three steps:
1. Earth Engine
2. Stop Rotation
3. Driving out of the Solar System Only by taking each step, can we gradually start the pledge operation and transaction consensus of POS-based Bytom.
The first stage “Earth Engine” (underlying function construction)Bytom 2.0 needs to complete the construction of all safety attributes and underlying functions including:
Based on a larger scale of staking to ensure the economic security of PoS, enhance the efficiency of consensus verification, and improve the supporting facilities for community participation in the construction of PoS;
Introducing asset issuance and GAS mechanism;
Complete the compatibility transformation of MOV platform, including wallet, cross-chain gateway system OFMF, MagnEx, FlashSwap, SuperTx, and MOV JieDai;
Improve the smart contract system and establish a more general and open developer platform;
Improve the efficiency and economic security of cross-chain interoperability.
The second stage, “Stop Rotation” The original BTM token will be irreversibly migrated from the PoW-based Bytom to the new PoS-based Bytom (called “Bytom 2.0”). BTM token migrated to Bytom 2.0 is the original value carrier of Bytom in the true sense, and is recognized and circulated by all major trading platforms as always. How to deal with the historical PoW-based Bytom and its historical token — —
(1) If there is a successor receiver (which can be any community or miners’ interest group) in the historical PoW-based Bytom, the future direction and planning of PoW Bytom, as well as the subsequent circulation and pricing of BTM, will be decided by the receiver independently. It is suggested to be named “Bytom Classic”;
(2) If the community and interest groups agree to the 2.0 process and jointly migrate from PoW-based Bytom to PoS-based Bytom 2.0, and there is no successor, then PoW-based Bytom and the remained BTM will completely withdraw from the stage of history.
The specific implementation steps of this stage are as follows:
Deal with the market, investor relations, exchange, community, let everyone know, handle and resolve objections;
Start BTM migration channel at a certain date in the future;
Finally, the historical PoW-based Bytom will become a “free planet” after the deadline, Bytom Official will no longer carry out maintenance and endorsement.
The third stage “Driving out of the Solar System”Fully start the pledge operation and transaction consensus of PoS-based Bytom;
In order to better implement the MOV open financial strategy, develop more diversified MOV protocol clusters, and obtain the value capture of BTM token by the development dividend of DeFi;
Bytom 2.0 will fundamentally reform its own smart contract system and developer ecology, introduce or be compatible with Ethereum contract system, so as to facilitate the migration of its projects and developers;
With a more powerful overlapping cross-chain system, MOV can be widely recognized outside Bytom’s ecology.
