There’s no doubt that 2017 is the first year of the breakout for Blockchain technology focusing on the integration with business application, there’s an increasing number of people and entrepreneurs involved in the Blockchain.

The project Bytom was conceived by the end of 2016, and launched by the beginning of 2017,with the consistent effort from development team, Bytom released three testnets of “Spark””Scope”and”Nue”,implementing basic functions. In the meanwhile, the unique Bytom mining consensus algorithm was published.

Looking forward, Bytom foundation will focuse on the following three key milestones as the main work direction in 2018:

Mainnet Launch

Enter the new age of Artificial Intelligence and Blockchain

After the high intensity of development and testing, we’re about to launch our mainnet, starting the new era of the integration of AI and Blockchain, this is the most important event of the year.

According to the economic white paper, 33% of Bytom will be released as mining rewards, which will halve every four years, and is expected to mine its last block with reward in 2162. The foundation will deploy hashing power to maintain the stability of the Bytom, and to encourage more users to join Bytom mining consensus.

In addition, the foundation has cooperated with some of well-known mining pools, which will provide access to users once the mainnet is up. The original ERC20 certificated BTM will be gradually be replaced with the mainnet BTM, please wait for our following token swap guidance.

The official launch of Bytom is the first step to test the availability and robustness of the Bytom Blockchain Protocol. This year, Bytom foundation will recruit more developers to maintain the security and stability of the core protocols and networks.

Establish the Technology Committee

Draw up the long-term technology Development Strategy

Any open source community development cannot be separated from an effective and binding system, and it’s no exception to Bytom. The foundation has set up a core technical committee. Any changes to the code after the mainnet release will need to be reviewed by the committee. The committee will be composed of an odd number of members, and the final decision will be determined by the vote.

For the development direction of Bytom, the foundation will provide the complete BMIP(Bytom importe Proposal).Any feature that may be introduced or eliminated in the future will be fully discussed and widely shared in the community.

In terms of technology, Bytom will focus more on the expansibility, multi-asset lightning network and atomic cross-chain technology in 2018

Expansibility

Expansibility is a concern for every Blockchain project. The general view is that the expansibility is only needed when it reaches enough transaction volume, and this is a misunderstanding.

The core of extensibility lies in the convenience of block chain operation and maintenance. A practical example is that when the online circulation platform is launched, Bytom will have fast and secure node deployment and maintenance mode. The benefits for the platform are self-evident.

Multi-Asset Lightning Network

Bitcoin’s lightning network is maturing and is expected to be implemented in the production system in the near future. Bitcoin’s lightning network is maturing and is expected to enter production in the near future. The multi-asset high-speed and concurrent trading on the chain is subject to the capacity limitation of block chain. But this is what Bytom needs the most, and the multi-asset lightning network is the best solution.

Atomic Cross-Chain Technology

Multiple blockchain assets are Bytom’s natural support for digital assets. How to make known blockchain assets such as BTC, LTC, ETH and others be linked or exchanged by cross-link technology to bytom is the most implementable technology that Bytom has, and is also the most suitable to land in applications.

Expand Bytom ecosystem

Establish more partnership with Pojects and Financial Institutions

In 2018 Bytom Foundation will invest a lot of money and effortt to assist the application and implementation of protocol-based eco-applications.The focus is the combination of Bytom and Artificial Intelligence, blockchainization of physical assets, and eco-applications based on Bytom.

(Such as mobile wallet, data tools, smart contract audit), etc., we will give sufficient attention and funding.

A good application of ecosystem should have more and more developers and entrepreneurs to join,Bytom Foundation will organize more competition and meet ups to help these people achieve their dreams.”Stable, secure and prosperous” will be the main theme of Bytom this year.

With a long way to go and we shall move forward together.

Looking forward, Bytom foundation will focuse on the following three key milestones as the main work direction in 2018: