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Interview With Meheret — One of the Developers From Bytom Community

This article is a recap interview of Meheret Tesfaye Batu, Meheret Tesfaye Batu is 22 years old. He was born and live in Addis Ababa, the capital city of Ethiopia in East-Africa. He is also 3rd-year student with a Computer Science bachelor's degree. Currently, he is working in a Blockchain engineering role since 2019 to the present, and he’s also certified by Front-End in 2018 and Back-End in 2019 as Full-Stack engineering from Gebeya inc.

In this interview, Meheret Tesfaye Batu shared his opinion about the blockchain, and his expectation from Bytom blockchain as well as his future plan. This interview is conducted by the technical operations manager of Bytom Zhong Lifei.

Here’s Bytom’s technical operations manager Zhong Lifei’ discussion with Meheret Tesfaye Batu:

1

Zhong: Could please introduce the Swap project?

Meheret: Swap is a python-based library for cross-chain atomic swap between the networks of two cryptocurrencies. Cross-chain atomic swap is the cheapest and most secured by cryptographic proof to swap cryptocurrencies. It’s decentralized payment environment and powered by Hash Time Lock Contracts (HTLC’s) protocol.

A Hash Time Lock Contracts (HTLC’s) is essentially a type of payment in which two people agree to a financial arrangement where one party will pay the other party a certain amount of cryptocurrency, such as Bitcoin or Bytom assets. However, because these contracts are Time Locked, the receiving party only has a certain amount of time to accept the payment, otherwise the money can be returned to the sender.

Hash Time Lock Contracts can help to eliminate the need for third parties in contracts between two parties. Third parties that are often involved in contracts are lawyers, banks, etc. Lawyers are often required to draw up contracts, and banks are often required to help store money and then transfer it to the receiving party in the contract.

With Hash Time Lock Contracts, two parties could hypothetically set up contracts and transfer money without the need for third parties. This is because the sending party could create the conditional payment, and then the receiving party could agree to it, receive it, and help validate the transaction in the process.

This could potentially revolutionize the way that many businesses interact with one another and dramatically speed up the time that it takes for business deals to be set up.

2

Zhong: What’s your daily life like?

Meheret: As an independent engineer, my daily life is good. I am living with my parents and I like to read mostly technical matters of blockchain engineering. I usually take long walks to refresh myself and other stuffs.

3

Zhong: What’s your opinion about the blockchain?

Meheret: Distributed ledger technology underlies cryptocurrencies like Bytom and could be the future of money, security, and online privacy.

Blockchain creates a “trust-less” system — a system that removes the intermediary. Instead of a transaction going through one central authority — such as a bank, app, or online database — several parties to a transaction may have access to the transactions (without any identifiable information visible). This allows individuals to start transactions with one another without referring to the central authority.

4

Zhong: What’s your expectation from Bytom blockchain?

Meheret: From the technical side, I expect Bytom’s will be fixed Solonet and Testnet networks for developers. From the company side, I would like to continue working with Bytom’s. Otherwise, everything looks very good for Bytom’s.

5

Zhong: What’s your future plan?

Meheret: Yes, I will continue working on the blockchain engineering role and come up with Ethiopia’s cryptocurrency the name of which will be announced when completed.

6

Zhong: What’s do you think blockchain will be in the future?

Meheret: One of the biggest things in the future of blockchain will be replacing paper money in the banking industries with cryptographic money powered by blockchain technology.

7

Zhong: Where do you know blockchain the first time?

Meheret: I heard about the blockchain when I was in 10th grade from one of a news media on BBC about a computer virus (Ransomeware) in which the hacker requested to be paid in Bitcoin. So, I researched Bitcoin and I found about the blockchain technology.

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