Bytom (BTM) AI + Blockchain Algorithm Debut at MIT, Buoyant Chinese Blockchain Takes Off
BOSTON (8BTC News) – “Bytom Algorithm Public Release” Conference has been successfully held at the Massachusetts Institute of Technology on April 15, 2018. This is the first international public disclosure on details of Bytom’s AI-friendly Tensority algorithm, and also the first time for a Chinese team to release theses on Artificial Intelligence and blockchain at MIT.
The innovative consensus algorithm “Tensority” created by Bytom is based on the tensor calculation with advantages from other consensus algorithms. A glamorous stuff would be the adoption of the Matrix mechanism as the fundamental component of AI deep learning. Based on the innovations above, it enables the PoW more pervasive and friendly to ASIC, meanwhile its dedicated consensus equipment could be engaged in AI cloud acceleration to reduce wastage of resources and endow calculation with more social value.
Digging the blue ocean market, Blockchain + Artificial Intelligence is imperative
Bytom founder Duan Xinxing speaking at the conference
In 2017, the State Council officially issued the artificial intelligence and smart planning of the new generation, in which it was pointed out that AI would occupy a very important position in the development of the country. It is expected that the scale of China’s Artificial Intelligence market will have reached 100 billion by 2018. Compared to cloud computing in rapid growth, as the infrastructure for cloud computing, 30% of Intel’s server business is provided for companies of cloud computing. And the server sales in the Asia-pacific region alone increased by 9.7%. Cloud computing’s rapid growth is to the server market what the AI is to ASIC chip market. It is within expectation that when the scale of AI market reaches hundreds of billions, the market scale of ASIC chip certainly will reach tens of billions.
By adopting the Matrix mechanism, Bytom redesigned the PoW consensus mechanism which is different from the traditional one. This algorithm has passed the theoretical verification in matrix filling and stochastic modelling cooperating with Southwest Jiaotong University laboratory. The adoption of Matrix mechanism enables Artificial Intelligence to make full use of Bytom’s mining equipment. In this process, new hardware and Artificial Intelligence together render the algorithm calculating speed greatly enhanced, and meanwhile wastage of resources reduced. In this case, the enormous economic benefits of the mining market could greatly accelerate the development of AI ASIC chip and quicken the research on AI, vice versa, the rapid development of AI also help boost increasing demand for ASIC miners. There comes the virtuous cycle.
AI algorithm powers millions of Edge Computing terminals to be consensus nodes
Edge computing is a method of optimizing cloud computing systems by performing data processing at the edge of the network, near the source of the data. This reduces the communications bandwidth needed between sensors and the central data center by performing analytics and knowledge generation at or near the source of the data. It is an open platform integrated with internet, calculation, storage and applications. Compared with cloud computing, edge computing focuses more on the real-time intelligence with webcam as terminal equipment. In this context, edge computing has become the key layout of AI-related chip manufacturers and equipment integrators, and the chip maker giant ARM expects 100 billion AI-related chips will ship by 2020.
Bytom’s Tensority algorithm powers millions of Edge Computing terminals to become consensus nodes. Taking webcams for example, a webcam could fully meet the requirements of a consensus node, for it has a large equipment base in standby mode 24/7 with access to network and storage, and more importantly it could run Tensority algorithm. According to statistics, by 2017 China has had 176 million webcams; the number is expected to exceed the population of all mankind in 2023, and it will further explode in the future.
AI is booming and blockchain’s buoyant. Satoshi’s Bitcoin: A Peer-to-Peer Electronic Cash System has laid profound effect on human society like a butterfly fluttering its wing on the other side of the ocean. The combination of two leading technologies of today – blockchain and AI computing – would make overwhelming sense on the whole society. A big and meaningful stride towards blockchain would enable China rise ahead of others and have a big say in this sector.