Bytom Concludes San Francisco Global DevCon, Launches Bystack

Bytom has wrapped up the 2019 Bytom DevCon conference held in Fort Mason, San Francisco on 24 August. The event was a success, marked by the presence of over 50 teams contesting for the coveted price of $30,000 worth of BTM tokens. Following this announcement, Bytom as also launched Bystack, a blockchain service platform with mainchain-sidechain design. 

During the DevCon, participants from around the globe including China, Russia, Brazil, India, Belgium, Nigeria and the US, presented the conference with their unique projects. After a tough fight, from the six winning teams who displayed their demo show, Canadian team Paypaw finished first with an innovative BTM micropayment system. 

The conference attracted major game players within the blockchain industry including brilliant minds looking to support the Bytom public blockchain vision. Among the invitees and speakers gracing the event was the Head of Engineering at Algorand, Naveed Ihsanullah, who spoke on the future potential of mass blockchain adoption. He noted that this will be possible when products are built and used without the underlying blockchain technology being necessarily recognized.

Other notable guests present alongside Naveed Ihsanullah during the Bytom DevCon were Zera Alexander, VP of Engineering at Reserve; Darin Kotalik, Director of ETC Labs; and Co-Founder of Matrixport Daniel Yan. In his speech, Yan stressed out the importance of Asian markets for major blockchain adoption. He pointed out that Hong Kong and Singapore are some of the best places for blockchain related businesses. Nick White, Co-Founder of Harmony, also gave his input, revealing that he is a believer in how competition and gaming can draw more attention from public interest due to the almost non-existence of compliance issues in gaming projects, unlike DeFi projects. White was joined by fellow co-founder, Mo Dong of Celer, who in his words said:

 “Celer wants to promote adoption of blockchain through games. A mobile APP CelerX has been launched and developers even without blockchain developing experience could use CelerX Gaming SDK to develop HTML 5 games easily”. 

In addition to the Celer proposal, MATPool CTO Lei Jin offered a Mining as a service (MaaS) solution for Bytom’s official mining pool to harness. Lei Jin talked about how MATPool would offer custody services for miners by enabling quick and automatic access to the most profitable tokens. MaaS will create a leveled ground for the demand side and the supply side of GPU computing power, hence eliminating resource isolation.

The DevCon Three insightful panel

Key speakers at the conference focused on three panel discussions regarding market trends, challenges and the future of the blockchain technology. 

The panel for Market Trends: 

• TF Guo, Founder of Taxa, encourages individual investors to build and hold their assets and shun day trading or ‘flipping’ of crypto assets. 
• Infstone Business Director Sili Zhao, wants more attention directed towards the expansion of blockchain use cases in various fields. 
• Will Wang, Investment Director of Ausvic Capital, believes location is paramount and synonymous to the experience of end users and more important than what the technology may be offering.

The panel for Challenges: 

• Darin Kotalik was vocal on educating people about blockchain technology.  He considered it as one of the biggest challenges in the industry. 

• Anchain Marketing Manager Steven Yang noticed that most projects are gradually becoming centralized due to KYC compliant requirements and user preferences. 

The panel for Future: 

• Zera Alexander, VP of Engineering at Reserve, sees a future where stable coins will be widely adopted. Zera noted, there is very little use cases currently, although stable coins have a high market cap. However, things are about to change.

• Cecilia Li, Investment/Partnership Director of OKcoin, is looking at a future where blockchain assets will have intrinsic value and demand, as developers shift away from tokenizing any asset regardless of value. 

Bytom latest release: Bystack 

To cap the highly successful 2019 DevCon, Bytom is releasing Bystack, a blockchain service platform with mainchain-sidechain design. Founder and CEO of Bytom, Duan Xinjiang, shed light on Bytom goals, explaining how the platform was set to become a go-to place for multiple assets and a platform for programmable economy. 

Furthermore, BBFT presenter Wei Wang provided insight into the performance of Bystack’s sidechain. He highlighted the benefits of using the BBFT consensus algorithm for fast transactions. The algorithm will enable up to 20,000 TPS on the sidechain by reducing each transaction to a mere 0.6 seconds with a fork possibility of 0.27%. This is achieved via simply leveraging both PoW, DPoS and BBFT to break the trilemma theory in blockchain.

One sidechain has been built already, specifically designed for staking service. It will, however, offer many customized toolkits for Enterprise Applications integration within Bystack architecture. Currently, the project is backed by 42 partners.

Addressing Bytom’s wider vision, Bytom VP of Engineering, James Zhu, says:

“Bytom will release the Bystack roadmap in the near future. Bytack will launch a developer center and a decentralized ID system. Meanwhile, Bystack will keep iterating and release BBFT 2.0 and Bytom 1.2. Open Federation Management Framework, Dapp Dev Framework, and Decentralized Personal Credit Solution will also all be launched as well.”

The 2019 San Francisco DevCon is Bytom’s second DevCon, following the initial success of the first conference held in China last year. 

Learn more about Bytom – https://bytom.io/

Disclosure: This is a sponsored article