What is Bytom?

Bytom is a project focused on blockchain-based ownership of digital assets such as Bitcoin, and real-world assets such as bonds and dividends. It allows ownership of these assets to be both monitored and transferred across different blockchains (referred to as Inter-Chain Asset Transfer).

Bytom ASIC mining & Bitmain partnership

The team behind Bytom includes 8btc, one of China's biggest blockchain news sites. Bytom also partnered with the ASIC manufacturer Bitmain, so it's a proof-of-work coin and considered ASIC-friendly, very different to other proof-of-work coins like Monero which have been very anti-ASIC. Bitmain released a Bytom ASIC miner called the Antminer B3 around the time Bytom's mainnet launched in April 2018.

The concept behind Bytom's proof-of-work algorithm, called Tensority, can be confusing, where it seems to be designed to work well on AI hardware, yet in Bytom's whitepaper its unclear if AI hardware is intended to be used in the mining process itself. Perhaps ASICs developed for Bytom are intended to also be used for AI processing, a useful attribute if Bytom mining is no longer profitable (which would increase the resale value of an Antminer B3 ASIC miner). The Bytom (BTM) coin itself seems to be used for transaction fees, asset issuance and dividends.

As well as the Antminer B3 launchdate coinciding with the Bytom mainnet launch, Bytom and Bitmain also seem to be building an AI lab together.

Real-world assets on the blockchain

Bytom anticipates storing many real-world assets on their platform:

  • Warrants
  • Securities
  • Dividends
  • Bonds
  • Intelligence information
  • Forecasting information

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