Blockchain Network Bytom joins MPC Alliance as an active member

Bytom (BTM), the acclaimed blockchain protocol designed for financial and digital asset applications, has given the news of having become an active member of MPC Alliance which operates as a group of industry pioneers who are committed to increasing adoption on a large scale. Multiparty computing scale or MPC technologies, products and services. The elite group aims to reinforce critical issues related to high-level security, maximum privacy and high-end innovation of online services.

MPC paves the way for revolutionary progress, innovations related to the execution, application and management of controls related to security and privacy issues, in particular for decentralized pedagogies and distributed digital information. Interestingly, MPC as a concept has been highlighted since the 70s, but has been subjected to only the limited grounds of academic research and proof of concept for the longest period. With rapidly growing technological advances in the computer niche and major MPC implementations, the world has witnessed fast, reliable, efficient and reliable MPC-based technologies and services in a different class of markets.

What is Bytom Blockchain Protocol

Bytom Blockchain Protocol acts as an interactive protocol dotted with a suite of heterogeneous byte-assets. These digital assets work in various forms on the Bytom blockchain network. Atomic activities such as warrants, securities, dividends, bonds, intelligence and forecast data, etc., can all be recorded, exchanged and played in other contract-based interactions through Bytom's excellence. Bytom is a revolutionary solution for the financial world that aims to conveniently reduce the gap between the atomic world and the world of bytes. It guarantees the strategic collaboration of the resources that govern the two individual worlds thus offering a new and diversified class of activities and a programmable economic ecosystem.

Bytom uses the new age technology of the Threshold Signature Scheme or the TSS to track cross-chain trading activities together with a security offer for transactions involving digital currencies. TSS acts as a replacement for the KeyGen and Sign algorithms, which are part of a digital signature scheme with an efficient protocol between the various parties.

Bytom Blockchain and Celer Network sign the MOU

Bytom Blockchain and Celer Network recently signed a memorandum of understanding (Memorandum of Understanding). Both entities are collaborating to strengthen Bytom's ecosystem. Celer Network made an official announcement to update the blockchain community on its move on September 25, 2019, through a blog post on Medium.

As pointed out by the blog post, Bytom will collaborate deeply with Celer in the future on production iteration, layered architecture, sidechain module construction and steps that support a rapid off-chain change of state. For this, it will combine various techniques for off-chain scaling and building a complete solution. The company aims to accelerate the mass adoption of the blockchain.

For those who have arrived late, Celer Network is an important tier 2 scaling platform that facilitates easy, secure and fast off-chain transactions for payment transactions, as well as generalized off-chain smart contracts.