BTU Protocol is a decentralised platform designed to enable the creation of trustless, low-cost, and secure digital assets. It provides an open environment for developers to create their own digital tokens and applications.
BTU Protocol operates on the Ethereum blockchain, utilising Ethereum's infrastructure for decentralised applications. It uses smart contracts, specifically ERC-808 contracts, to support booking functionalities. The protocol employs a hybrid approach by combining on-chain smart contracts with off-chain software components to enhance scalability.
BTU Protocol can revolutionise various industries by creating decentralised booking platforms for sectors such as hospitality, travel, finance, healthcare, retail, and automotive. It enables transparent interactions between service providers and customers, aiming to reduce costs and improve efficiency.
BTU Protocol was founded by Vidal Chriqui and Hervé Hababou with the goal of developing a peer-to-peer booking protocol that reduces intermediaries' commissions to 0%. It has evolved to become a critical component for decentralised applications seeking to integrate booking functions. The project's initial token sale took place in 2018, raising $5.5 million USD.