August 29th brought with it the end of 2019 Bytom Devcon, held in Fort Mason, San Francisco. Over 50 blockchain developer teams from all over the world, including from countries like Russia, India, Belgium, and China, came to compete, with six teams winning various cash prizes.
Canada Comes On Top
Canadian team Paypaw fought off fierce competition to take the lead, winning the first place cash prize of $30,000 equivalent in BTM tokens with the development of their BTM micropayment system.
This was only Bytom’s second developers conference, built on the success of the first conference last year in China. With the turnout and response, next year’s is likely to attract even more dev teams.
Not Just Competition
The excitement of watching various dev teams battle it out and present their very best wasn’t the only thing to look forward to during this convention.
Various speakers held panels on different topics, from public blockchains to investments and digital assets.
Duan Xinxing, Founder and CEO of Bytom, opened the floor with the reason why Bytom was created in the first place – a desire to create a digital assets internet that supported multiple assets and a programmable economy.
Xinxing also announced Bytom’s recent release of Bystack, a blockchain service with a mainchain-sidechain design.
This announcement was followed up by Bytom’s VP of Engineering, James Zhu who teased the audience with a sneak peek into the upcoming Bystack roadmap, as well as Bystack launching a developer center and decentralized ID System.
This was wrapped up by BBFT presenter Wei Wang, who focused on the high-performance capabilities of Bystacks sidechain. Through the consensus algorithm, the sidechain can support a TPS of 20,000, which eclipses all major payment processors by a distance.
This speed isn’t sacrificing security; however, with confirmation times taking 0.6 seconds with a fork possibility of only 0.27% — all made possible due to a combination of PoW, DPos, and BBFT algorithms.
Other speakers were present as well to give regarding the industry as a whole. Among some of the topics covered were ongoing discussions regarding the health of the blockchain industry in general, such as mainstream adoption and hype agendas.
Overall, it was agreed that blockchain education was a crucial challenge in adoption, since basic understanding was still a prerequisite. Others believed that the knowledge of the underlying technology was not necessary if services and products entered regular use, just the way internet is used on a daily basis without the tech behind it being understood.
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