Introduction
Bytom Blockchain Protocol (Bytom) is a versatile interaction protocol for diverse digital assets, facilitating the registration, exchange, and programmable operations of both native cryptocurrencies (like BTC/ETH) and real-world atomic assets (such as bonds and equities) on its blockchain. Its mission is to bridge physical and digital worlds, enabling seamless asset interoperability.
MOV, Bytom’s next-gen decentralized cross-chain Layer 2 protocol, comprises three core modules:
- Magnet Contract (value-exchange engine)
- OFMF (decentralized cross-chain gateway)
- Vapor (high-speed Layer 2 sidechain)
Through this partnership, OKTC and Bytom aim to co-build an open financial infrastructure, fostering ecosystem interconnectivity.
Collaborative Initiatives
1. Sidechain Token Interoperability
Bytom’s cross-chain assets (e.g., BBTC/BETH) will achieve 1:1 equivalence with OKTC’s assets (e.g., OBTC/OETH). Key steps:
- Unified cross-chain deposit protocols enabling automatic conversions (BBTC ↔ OBTC).
- Joint governance of federated nodes for multisig asset custody.
- Secure key management solutions to protect user funds.
👉 Explore how cross-chain swaps enhance DeFi liquidity
2. Consensus Node Participation
- OKX Pool will operate a Vapor sidechain node.
- Bytom will run an OKTC validator node, with mutual staking support in OKT/BTM.
3. Decentralized Market-Making for OKTC
Bytom’s multisig wallet solution separates trading from withdrawals:
- 2-of-3 multisig (fund provider, market maker, service operator).
- Whitelisted withdrawal addresses to prevent unauthorized transfers.
4. Threshold Signature Scheme (TSS) Integration
Bytom’s TSS upgrade will support OKTC assets, enabling:
- Secure (1-3) multisig pools for gateway liquidity.
- Enhanced cross-chain fund management.
5. HTLC-Based Atomic Swaps
Develop hash timelock contracts (HTLC) to enable trustless OKTC↔MOV asset swaps without intermediaries—ideal for microtransactions.
6. Coin-Day Credit System for DeFi
Leverage coin-day destruction—a metric combining asset value and holding duration—to build on-chain credit scores for:
- Oracle reliability.
- Anti-sybil mechanisms in DeFi apps.
FAQs
Q1: How does BBTC/OBTC equivalence benefit users?
A: Enables frictionless asset portability between OKTC and MOV ecosystems, reducing conversion overhead.
Q2: What’s the role of TSS in this collaboration?
A: TSS ensures secure, decentralized custody of cross-chain assets via multiparty signing.
Q3: Why focus on coin-day metrics?
A: They objectively quantify transaction legitimacy, deterring wash trading in DeFi.
👉 Learn more about DeFi’s future with cross-chain tech
Conclusion
By merging OKTC’s scalability with Bytom’s cross-chain expertise, this partnership pioneers DeFi 2.0—a future where assets flow freely across heterogeneous networks. Together, they’re laying the groundwork for a truly open financial ecosystem.