Bytom (BTM), the highly acclaimed blockchain protocol designed for financial and digital asset applications has broken the news about it becoming an active member of MPC Alliance which operates as a group of industry pioneers who strive to boost widescale adoption of Multiparty computation or the MPC technologies, products, and services. The elite group aims to strengthen critical aspects related to high-grade security, ultimate privacy, and high-end innovation of online services.
MPC paves the way for revolutionary advancements, innovations involved in the execution, application, and management of controls related to security and privacy concerns, especially for decentralized pedagogies and distributed digital information. Interestingly, MPC as a concept has been in light since the 1970s but has been subjected to only the limited grounds of academic research and proof of concept for the longest time. With the fast-growing technological advancements in the computer niche and increased MPC implementations, the world has witnessed a fast, reliable, efficient, and trustworthy MPC-pegged technologies and services in a varied class of marketspaces.
Bytom Blockchain Protocol serves as an interactive protocol studded with a suite of heterogeneous byte-assets. These digital assets work in various forms on the Bytom blockchain network. The atomic assets like warrants, securities, dividends, bonds, intelligence, and forecasting data, etc.- all can be registered, traded-exchanged, and gambled in other contract-based interoperations via the excellence of Bytom. Bytom is a revolutionary solution for the financial world aims to shorten the gap between the atomic world and the byte world conveniently. It ensures strategic collaboration of the assets ruling the two individual worlds thereby offering a new and diverse class of assets and a programmable economic ecosystem.
Bytom employs the new-age technology of Threshold Signature Scheme or the TSS for tracking down cross-chain trading activities along with an offering of security to transactions involving digital currencies. TSS serves as a replacement for the KeyGen and Sign algorithms, which are parts of a digital signature scheme with an efficient protocol amongst various parties.