Carrying a vision of a programmable economy, Bytom believes that blockchain’s potential is still not being realized by the industry and the masses. The decentralized economic system pushes for practical applications of the technology, rather than being simply cryptocurrency centric.
Practical Contest, Practical Winners
The Bytom 2019 Developer Conference (DevCon) follows the success of its 2018 predecessor in China. The 2019 event based in Fort Mason, San Francisco, United States, saw the registration of more than 50 teams from different countries of the world, including India, United States, Russia, China and Brazil.
Since its inception, Bytom has pushed for a practical application of blockchain and the 2019 DevCon sought no different. All participants were given a chance to showcase an application on the same principle. Out of the total 50 participants, 6 were selected as winners and given a chance to present their practical ideas to the DevCon panel.
For their development and practical case of a microtransaction payment system, the Canadian team PeePaw was awarded USD 30,000 prize in BTM tokens.
The conference also saw many big players of the industry visit and present their views as experts of the blockchain technology. These included the likes of Mo Dong, Co-founder of Celer Network, Darin Kotalik, Director of ETC Labs, Nick White, Co-Founder of Harmony and Zera Alexander, VP of Engineering at Reserve.
During the 2019 DevCon, guest speakers spoke on a variety of situations and voiced their opinions and views on how blockchain could help humanity and how the gathered people could aid the technology’s adoption.
Naveed Ishanullah said that blockchain will achieve success when the technology’s hype decreases and it becomes a norm to be used. Darik Kotalik offered a different view but ultimately still spoke of mass adoption by saying that education was key as people still have a long way to go to understand the technology.
Sili Zhao from InfStones said that developers and supporters of the technology should concentrate beyond the simple cryptocurrency application of blockchain.
Duan Xinxing, CEO and Founder of Bytom, started the Developer Conference with a keynote address, explaining how he visioned Bytom as a platform that will connect different digital assets and create a whole new economic system that is flexible and reliable.
Keeping this in mind, Bytom recently released Bystack, a Blockchain as a Service (BaaS) that allows sidechains to connect with Bytom’s mainchain. This service allows for a wide variety of services, sectors and industries to use their own sidechains that can connect with others through the mainchain.
Bystack already has a sidechain project that is being adopted by different organizations. The staking sidechain already has 40+ partner organizations registered. Vice President of Engineering at Bytom, James Zhu, informed during the Developer Conference that Bystack will be launching different applications such as a decentralized credit solution, ID system and a development framework.
Bystack’s performance was highlighted by BBFT’s Wei Wang, who said that the Bystack sidechain can achieve up to 20,000 TPS with an average transaction time of 0.6 seconds.
For more information on the Bytom platform, visit their website: https://bytom.io/
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