Bytom: The Rise of China With Ambition On Blockchain + AI

SEOUL, South Korea, March 29, 2018 /PRNewswire/ — Bytom recently debuted in Seoul. In the era of the Internet, the Internet giants are changing the world at an incredible rate. Just as apple reshapes its phones, Google beats Lee and Tesla redefines the car. Technology is reshaping the economy, daily life and the world. The Internet has upended the world, and the emergence of blockchain is to subvert the Internet. “Blockchain + Artificial Intelligence” can be seen as the “Second Revolution” of blockchain.

The introduction of Artificial Intelligence to Blockchain is imperative.

Artificial Intelligence solves machine learning and blockchain solves trust and coordination between machines.

Bytom founder, Duan Xinxing, commented on the relationship between blockchain and Artificial Intelligence at the just-concluded Bytom Meetup event in Seoul, South Korea.

Bytom has redesigned the PoW consensus mechanism, which is different from Bitcoin, and introduced Matrix mechanism, so that Artificial Intelligence can make full use of Bytom’s mining equipment. In this process, Artificial Intelligence has added new hardware, and its algorithm speed has been greatly improved.

At the same time, Bytom can reduce the waste of resources. In this case, the huge economic benefits of the mining market can greatly accelerate the development of Artificial Intelligence ASIC chip and accelerate the research of Artificial Intelligence.

In turn, the rapid development of Artificial Intelligence has produced more demand for ASIC miners. Therefore, it is a positive feedback process of benign development.

It is expected that the size of China’s Artificial Intelligence market will reach 100 billion by 2018. By analogy to cloud computing, cloud computing is the infrastructure for cloud computing, and 30% of Intel’s server business is provided to cloud computing. In the asia-pacific region alone, server sales grew 9.7%.

Just as the rapid development of Cloud Computing promotes the server market, it can be expected that the market size of ASIC chip market will reach tens of billions when the market size of AI hit 100 billion. Also, Bytom’s AI friendly PoW algorithm for the Artificial Intelligence ASIC chip is going to make good use of the mines that have been abandoned or eliminated. It is an enormous advance in the field to help environmental protection and reuse the resource for the benefit of the development of Artificial Intelligence.

On this event Bytom, as the first Chinese blockchain technology development team that has introduced the Artificial Intelligence-friendly algorithm in the field, debuted with the world’s largest blockchain and Artificial Intelligence hardware manufacturer Bitmain in South Korea. Two leaders in the area of blockchain and Artificial Intelligence will lead industry innovations and reshape the whole industry pattern.

Duan Xinxing, the founder of Bytom, said that in addition to the AI-friendly algorithm, Bytom is even more a public-chain project that focuses on the field of assets. He defined Bytom as “the infrastructure of assets Internet.” Just as one can build applications such as WhatsApp and WeChat on the TCP/IP protocol, one can build wallets on the protocol layer of Bytom, decentralized trading systems, oracle systems, point-to-point clearing, settlement, payment systems, financial systems and a variety of distributed asset applications.

The vision of all these effort is to help “asset blockchainization,” that is, asset migrated onto chain. With the development and the application of blockchain technology, all aspects of asset registration, transaction, and settlement will be completed on the blockchain, and the compliance agency will follow the requirements of the chain for delivery. The transaction will be decentralized and de-platformized. Assets, like air, permeate the side, and the exchange of assets is extremely convenient. At this stage it can be likened to a gas state. This stage is also the third stage of asset circulation. Before that, it was corresponding to asset equity and asset securitization. It was also compared to the solid and liquid state of assets. In other words, before the asset migrates onto chain, it is either an equity asset or a securitisation asset. In this whole process, Bytom plays the role of the infrastructure of the asset blockchainization, and the Artificial Intelligence will make the whole process more efficient and agile.

Bitmain will develop deeper strategic cooperation with Bytom in the future

Bitmain CEO Assistant Zhang Yuan gave a speech on “How A.I. and Blockchain Change the World.” She said that A.I. is driven by big data and big data will be carried by blockchain. Bitmain launched the Artificial Intelligence brand SOPHON last year and released three heavyweight products such as the tensor computing processor Sophon BM1680. In the future, Bitmain will build a dedicated custom chip as the cornerstone, develop an integrated hard and soft server under multi-scenario applications, continue to invest in the field of Artificial Intelligence, increase the investment of Artificial Intelligence teams and talents, and accelerate the development of Artificial Intelligence. It is mentioned that Bitmain will have a deeper strategic cooperation with the Bytom in the future.

Artificial Intelligence is in the ascendant, and blockchains have also made waves of innovation. In the future, what kind of future is the future? Perhaps only by standing in the future, the real meaning of the blockchain can be seen. Many years ago, Satoshi Nakamoto’s paper “Bitcoin: A Peer-to-Peer Electronic Cash System” was like a butterfly flapping its wings on the other side of the ocean, which has already had a profound impact on human society. Whoever said that the future is not yet coming, linking to the future, the blockchain has already arrived.

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