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Bytom and Bitmain Team Up to Launch AI Lab

April 27, 2018 (8btc News) – the 2018 Blockchain + Artificial Intelligence Summit Forum with the theme of “Block Intelligence” was held in Hangzhou. Jointly organized by 8btc News, Bytom and Bitmain, the forum had heavyweight industrial leaders presenting their in-depth insights over topics centered on blockchain consensus algorithms, AI (Artificial Intelligence), AI-driven blockchain and other cutting-edge technologies. In the forum, Changjia, founder of 8btc and Bytom, and Micree Zhan, CEO of Bitmain, jointly announced that the “Bytom & Bitmain AI Lab” was formally established.

Computing power has the big say, blockchain fuels China-made chips

“Whoever dominate the computing power will be able to play with power. Looking at the recent trade war centered on chip and IP (Intellectual Property), the logic behind it is the power struggle.” Chang Jia, founder of 8btc news and Bytom, voiced his view on the significance of computing power, and put forward the standpoint that “computing power has the big say”. In his view, the underlying philosophy behind the big three leading technologies of today goes this way: blockchain represents production relationship, artificial intelligence represents productivity, and big data represents means of production, together they would greatly push the advancement of human society. And all the three technologies owe to the support of computing power.

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Chang Jia (founder of 8btc and Bytom) speaking at the forum

Featured by security and decentralization, PoW so far is considered the most fault-tolerant consensus mechanism for a public chain, while the PoW mechanism can lead to serious consumption of hardware. To tackle this problem, Bytom adopts ASIC-friendly consensus algorithm on the basis of PoW mechanism and Matrix operations to avoid waste of hardware and hashrate. Once this ASIC friendly consensus algorithm is popularized, it is believed that this would be a great boost to both the AI sector and blockchain industry.

Blockchain is very likely to be the sector where China-made chips may take the dominance. Considering the thorny fact that China-made chips takes almost zero share in the communication market, we amazingly find that china-made chips take up 90% of the total share in the blockchain space, it is the uprising ASIC chip. Since the birth of ASIC miner for bitcoin mining, the hashrate of bitcoin has increased explosively. “The great market demand drives it. Where there is a need, there is an innovation. And innovation in need brings great profits. This is the case of the crypto world. In this context, blockchain is very likely to be the sector where China-made chips may take the dominance.” said Chang Jia.

As a top chip maker in China, Bitmain has started the research in AI early in 2015. In the forum, Bitmain’s product director also stated the huge demand for computing power in AI industry, and their understanding of the relation between AI and blockchain.

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 Tang Weiwei (Product director of Bitmain) speaking at the forum

As the most expected part of the forum, Bytom and Bitmain jointly announced to build an AI lab. Actually the cooperation between Bytom and Bitmain has started long ago, as Bytom’s first AI accelerator was produced by Bitmain. It is believed that Bytom’s AI PoW mechanism and Bitmain’s abundant R&D experience in AI chip could be a strong boost to both the blockchain space and AI sector of the country.

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Micree Zhan (CEO of Bitmain) and Chang Jia (founder of 8btc and Bytom)

Apart from the cooperation with Bitmain, Bytom also signed cooperation contract with 8 wallet service provider: Kushen, imToken, Bitpie, Bixin, Kcash, Cobo, Bepal, Hufu and 9 mining pools: Ant pool, F2pool, BTCC, Spider pool, UUPOOL, Xiamen pool, Poolin, 91POOL and Viabtc.

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