On April 27th, the ‘Blockchain + Artificial Intelligence’ Summit, jointly organized by 8BTC, Bytom and Bitmain, was held in the city of Blockchain — Hangzhou, China.

Blockchain experts, senior executives, investor representatives, and heavyweight medias from the blockchain field attended to discuss blockchain technology, Bytom development process, and current trends.

This summit started with a speech entitled ‘Calculation is Power’ from the founder of 8BTC&Bytom, Changjia, which answered why the blockchain needs to be mined and why we have to come up with innovative AI friendly PoW consensus algorithm when the PoW security mechanism is already so stable.

Chang Jia

Although the PoW mechanism is good, it will cause a huge waste of energy and hardware, so the innovative AI friendly PoW consensus algorithm is proposed. Bitcoin’s mining machine is doing hashing caculation but the scope of hashing is too narrow. There is no use other than mining when the miner is eliminated or idled, it can be said to be a pile of scrap iron. This is a very real pain point in this mechanism.

Bytom proposed an ASIC-friendly consensus algorithm for this pain point. The goal of the algorithm is also very straightforward:

First, it is friendly to existing artificial intelligence ASICs;

The second is to use the most common algorithm in the artificial intelligence operation process.

According to Bytom’s AI friendly PoW consensus algorithm, Tang Weiwei, Product Strategy Director, said in his speech that each generation of Bitmain AI products will support Bytom mining calculation in the future. AI chip acceleration will be more conducive to the combination of Bytom and AI, more vitality.

When Bytom combined with artificial intelligence, it is bound to do more in-depth research in the field of blockchain and artificial intelligence. At the summit, the co-founder of Bytom and the CEO of the Bitmain CEO Zhan Ketuan jointly announced the formal establishment of ‘Bytom&Bitmain artificial intelligence laboratory’.

Future is based on the AI friendly ​​PoW consensus algorithm.

The most notable topic of this summit was the “Bytom development progress and developer rewards program” from Bytom CTO Lang Yu. The Bytom Mainnet implements the four most core modules:

First, Asset Unique, the whole process of publishing assets, transferring assets, registering assets, circulating assets, and completing assets can be built on Bytom. This is the basis for our realization. Features.

Second, the BUTXO model is an extended UTXO model. We use BUTXO to interact with assets as a new UTXO form, from which we can protect the competitive state of assets.

Third, smart contracts, financial assets trading contract system. Including smart contract language and virtual machines, we call Equity.

Fourth, developed the world-wide original consensus algorithm AI-Hash PoW algorithm — Tensority. This algorithm breaks the boundaries of AI and blockchain.

The two mysterious sessions have finally appeared after Bytom CTO Lang Yu’s speech. Bytom officially signed a cooperation agreement with 8 cryptocurrency wallet service providers. Including: Coldlar, imToken, Bitpie, Credit Letter, Kcash, Cobo, Bepal, HUFU. These wallets will support related services such as BTM storage.

At the same time bytom also formally signed a cooperation agreement with 8 mining pools. Bytom founder Chang Jia on behalf of the bytom team signed cooperation agreements with 8 mining pools which includes Ant pond, fish pond F2Pool, BTCC mining pool, spider mining pool, UUPOOL, Xiamen mining pool, Poolin and 91Pool. These mine pools will support BTM mining.

After the signing ceremony, the summit also held two roundtable forums discussing the “evolution of the AI chip and blockchain consensus system” and “the blockchain investment logic under the storm”.