This is about an other coin from China that I am going to talk about which I believe is going to be the next NEO.
Below are some of the details of BYTOM:
Blockchain is the underlying technology of Bitcoin.
As one of the core technologies for the fourth industrial revolution, it is affecting everything that surrounds us, even the way we live.
Bytom, a public blockchain platform designed to transfer assets from atomic world to byte world. Unlike other public blockchains (such as ethereum) Bytom only focuses on Assets Register and circulation area. Bytom is compatible with the UTXO model and the transaction data structure of Bitcoin to achieve high-speed concurrence and controllable anonymity.
BIP32, BIP33, and BIP44 are used in the design of Bytom wallet to provide support for multicurrency, multi-account and multi-key.
In Bytom's design, the signature is separated from the rest of the data in a transaction to achieve better programmability and contract support. In Bitcoin's design, the PoW mechanism is criticized as the machines could be applied to mining only resulting in a great waste of hardware and energy and Bytom's PoW algorithm that is friendly to all ASIC chips.
Matrix and convolution calculation is introduced into the hashing process. Miners could be used for AI acceleration services after they are outdated generating additional social benifits.
Developers can create a tiny version of X-chain or X-relay, thus achieving cross-chain communication, asset transaction, and dividend distribution.
In future, Bytom can be used for management of income assets. Films and other projects can use Bytom to get funding with an easy, fast and transparent way.
More importantly, Bytom will implement a blockchain-based secondary market for asset-backed securities. The traditional process is complicated and inefficient but in Bytom's design, it will not only greatly improve the efficiency of ABS operation but also ensure that information cannot be forged and modified.
More details can be found in Bytom's whitepaper:
Its been now around 3 weeks since BYTOM is launched.
Currently, it's available on the following 7 exchanges being traded for 18 cents.
Official Website : https://bytom.io/en