Smart contracts on Ethereum are fully self contained and any information or access to off-chain data is restricted. Tellor solves this problem by creating a system where parties can request the value of an off-chain data point (e.g. ETH/USD) and miners compete to add this value to an on-chain data bank, accessible by all Ethereum smart contracts. Inputs to a data series are secured by a network of staked miners. The main Tellor smart contract creates a time series of each requested data series and aims to become the standard source of high value data for decentralized applications. This oracle, “Tellor”, utilizes similar incentive mechanisms to other cryptocurrency systems through the issuance of Tellor’s token, Tributes, that are used to request a particular data series from miners.
Bytom is a blockchain protocol for financial and digital asset applications. Using the Bytom protocol, individuals and enterprises alike can register and exchange not just digital assets (i.e. Bitcoin) but traditional assets as well (i.e. securities, bonds, or even intelligence data). Bytom’s mission is “to bridge the atomic [physical] world and the byte [digital] world, to build a decentralized network where various byte assets and atomic assets could be registered and exchanged.” Bytom is an interactive protocol of multiple byte assets, to give it the proper title. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom. While Ethereum’s SEC scrutinization as a possible security took the entire crypto market on a downturn in early 2018, Bytom voluntarily submitted to the SEC’s Howey Test and Bytom cryptocurrency was deemed not a security under its DAO watch. This one has potential to make an impact on the cryptocurrency market with low transaction fees, high tech Bytom blockchain technology and an interactive protocol of multiple byte assets that could mark it apart. A Bytom wallet is also on offer and can store plenty more than Bytom coins.