NEW YORK, NY / ACCESSWIRE / November 25, 2018 / November 17-18, the Bytom Global Devcon 2018 has been successfully held at Hangzhou International Expo Center (G20 venue).
The ultimate technology feast for blockchain developers has been officially kicked off on August 11th. The contest was held in main cities includes Hangzhou, Beijing, Shenzhen, Nanjing, Shanghai, Seoul, Boston and Silicon Valley. Over 100 development teams from all over the world developed their projects based on Bytom blockchain.
In the end, 16 top development teams from various countries including China, the United States, South Korea and Greece reached the finals, competing for a million bonus.
Finally, the Bytom-based decentralized digital asset trading platform Bytomswap won the first prize and received 200,000 BTM bonuses.
In the Bytom Global DevCon, 16 top develop teams gave their incredible project roadshows, big name within the industry also discussed the recent hot spots in their presentations. Guests benefit a lot from five roundtable forums.
The successful holding of the Bytom Global DevCon shows the gradual development and growing influence of Bytom ecosystem. Blockchain developers from all over the world also show their passion in the competition. All this makes the blockchain "winter" not so cold.
1. Inclusiveness and open source
This competition is the first blockchain event that hosted by open source organizations and local technology companies in Hangzhou. Its success is due to two elements: inclusiveness and open source.
Duan Xinxing, founder of Bytom expressed his gratitude to Hangzhou for its inclusive spirit and payed a tribute to the open source movement.
"In 2008 and 2009, the common open source spirit brings developers together and enabled them to discuss peer-to-peer network technology, encryption technology, and PoS (proof-of-work) mechanisms in MIT crypto mail groups. People from different fields gathered together to create a great thing, and then jointly promote its progress which forms the development of today's bitcoin and blockchain."
Meanwhile, the development of Bytom also relays on the spirit of open source. The developers, testers, and coders from all over the world are all committed to the open source spirit and contribute their wisdom which enables Bytom to get there we are today.
2. Big name's viewpoints
Many senior researchers and project founders gave their presentation in the Bytom Global DevCon, including Bai Shuo, chief scientist of World Blockchain Organization (WBO); Liu Quan, president of CCID Block Research Institute; Sun Lilin, founder of platON, Austrian economist Boer Feimo; Professor Chen Gongliang form Shanghai Jiaotong University (SJTU) and Hyperledger technology ambassador Dong Ning gave their presentation.
3. Hot-spot technologies
The most cutting-edge blockchain technologies, including side-chain, cross-chain, multiparty computing, artificial intelligence (AI), encryption algorithm, privacy protection has also been discussed in Bytom Global DevCon.
Side-chain: Bytom launches side-chain project, promotes blockchain business applications
The role of side-chain is to transform digital assets between different blockchains. Recently, there are some popular side-chain projects including Liquid, RSK, and Loom.
This time, Bytom has also launched its self-developed side-chain project—Vapor at the conference. According to Bytom's core developer Wang Zhang, Vapor is based on the two-way peg (2WP) technology and SPV model. By introducing the middleman mechanism, the quality and relative security of the assets can be guaranteed through Vapor.
Bytom CTO Lang Yu added that Vapor has open sourced and subsequent iterations will follow. It will connect with the main chain of Bitcoin and Ethereum to become a universal side-chain project.
Multiparty computing: evaluating the data
Multiparty computing refers to data interaction in a circuit way without transforming of the original data or exposing data privacy. Different parties may participate in the entire computing process through computing nodes, in order to get the valued result they all wanted.
AI: the boundary with blockchain is blurring
"The boundary of blockchain and AI is merging," said Bytom's co-founder Chang Jia in the roundtable forum on Computationalism, Blockchain and Artificial Intelligence.
Chang Jia uses GPU mining as an example and indicated that the computing power that generates by GUP mining can be used in AI operation. He believes that blockchain and artificial intelligence can do more integration on data:
Encryption algorithm: autonomous controllable information security in China's financial field based on national cryptographic standard
Zhang Chengcheng, core developer of Bytom, shared his point of view on Bytom development based on the national cryptographic standard.
The national cryptographic standard is consisted by a series of cryptographic algorithms. Among them, the SM2, SM3 and SM4 algorithm are most commonly used. Bytom also uses these three algorithms in its national cryptographic standard test chain.
According to Zhang, the national cryptographic standard test network of Bytom has open sourced on the Bytom GitHub homepage and there is not much difference in user experience compares to Bytom's main network.
4. Roadshow: 16 development teams join the fierce competition, Bytomswap won the first prize
16 development teams demonstrated their projects in the two-day roadshow.
The winner, Bytomswap, is a decentralized digital asset trading platform based on Bytom. The core developer Anil Kumar has worked in software programming industry for 18 years.
Anil highlight the two main reasons of choosing to develop on Bytom blockchain:
First of all, Bitcoin application UTXO is a trustworthy trading model as it guarantees the total amount of tokens issued on the network and the token supply can be estimated. While the BUTXO model, an advanced version of UTXO, supports simultaneous trading of multiple assets, that lays a good foundation for the development of trading platforms.
Secondly, the PoW Consensus mechanism and the simple Equity
Anil believes the future of Bytom is bright as it has made many improvements on the basis of Bitcoin and Ethereum, and it is very easy to launch tokens and trade digital assets on the Bytom blockchain.
Learn more about BYTOM - https://bytom.io/
Read the BYTOM Whitepaper - https://bytom.io/wp-content/themes/freddo/book/BytomWhitePaperV1.1_En.pdf
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CONTACT: Yi Ren, [email protected]
SOURCE: Bytom