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A quick search through a selected online media channels where crypto-related discussions are welcome will show a major comparison made between Bytom and RavenCoin (or RAV) - and Ethereum in some instances.
The particular reason(s) or origin of pitting these two against each other is quite unknown but they sure both have some moves going on for their networks in their respective turfs to merit such mentions.
Separate base and ways
Their progression in differing directions could be argued extensively (as seen in some cases online). Whereas, the differences in some of their basic underlying fundamentals that keep them standing are stark clear.
RAV is 100% based on a proof of work (or PoW) consensus. It is built based on Bitcoin code which is known to have been proven as a secure open source protocol with a potential capability to handle as much global assets as possible if such are to go digital.
It has no pre-mined tokens and neither conducted an initial coin offering (or ICO), the blockchain-based crowdfunding mechanism that blossomed more all through 2017 for interested projects to source funding for their ideas.
This debut approach stands to work for the project since blockchain projects have now been met with regulatory requirements especially in jurisdictions like the US (and now China where ICO-related promotion is now prohibited). In fact, it is safe to say that RAV stands to move forward and through regulatory hurdles with ease.
As a US-based project, RAV's consideration of the reach of the US Security and Exchange Commission (or SEC) is bound to be optimum. Hence, factoring the need to avoid SEC's extensive regulation is somewhat crucial to its long-term success.
It makes sense that its development and community have been voluntary in a way to leverage on the trust such brings considering that it seeks to avoid any idea of centralization in its running.
The start is a little different with China-based Bytom held an ICO to fund its idea which, no matter how useful it was to get the project off the ground, is still being subjected to a question of whether it was an opportunity for a money grab. Meanwhile, it should be noted that not all projects could have seen the light of day without an initial funding - it all depends on the goal(s) to be achieved.
Not much of a difference
While the issue of ICO could be considered secondary, the question of Bytom not being a decentralized and censorship-resistant protocol is more important. This is the major hurdle that the project has to divest softly in the minds of potential users of its proposed ecosystem.
In a technical context, Bitcoin came up with the UTXO model which allows peer to peer value transfer through the standard UTXO inputs and outputs transaction. The Bytom blockchain extends this model to support multiple assets (BUTXO) which enables the creation and transfer of assets among users to be easily implemented. As based on a PoW algorithm that is friendly to ASIC-chips that are useful for AI purposes, Bytom differs from RAV whose focus is ASIC-resistant.
A token price analysis using figures from Dec 2019 shows a relatively stable market for RAV. Its market cap (according to CoinGecko) of approximately $112 mln and a 24-hour trading volume of about $8.5 mln on Day 1 ends (by Dec 30) with ~$117 mln and $8.9 mln 24-hour volume.
Depending on the given timeframe and if you are to go by the circulating supply of 5,052,025,000 as against the 21,000,000,000 in total supply (i. e. just a quarter out), it would be daunting for RAV to reach its All-Time High of $0.078895 (about -71% to its current price/Dec 30) again as once reached on Jun 3, 2019 though not impossible.
Bytom's chance of retesting its ATH using the same metrics is not as promising. A market cap of about $123. 5 mln and a 24-hour trading volume of roughly $40 mln (as at Dec 1) based on a circulating supply of 1,553,798,025 out of 2,100,000,000 (i. e. three quarters out) to ~$105 mln and a $29.5 mln 24-hour volume by Dec 30. Aside a possible advantage with lesser tokens yet to be released into the market, getting back to its ATH of $1.16 (about -94% down from Apr 24, 2018) requires more spread in its user base which is not coming quite easily.
Where a mild edge lies
In recent years, certain policies have not been friendly to crypto projects in China leading many Chinese projects to turn to the global market. Bytom, as a blockchain project, has been trying to explore the global market with the deployment and development of its network as it has done thus far this year with the opening of an office in the US and South Korea. While it will be a huge plus for the platform, winning in the US is not going to come easy for Bytom.
This is particularly in consideration of SEC rules which will affect the support for assets created on Bytom. In this regard, Bytom will only have its technology and industry experience to depend on as a public blockchain while projects built on it (especially those outside of China) sort out issues related to policy and regulations which will could pose a challenge - at least in the US - unless and until the current state of regulatory oversight changes.
Bytom's largest community is in China but it needs to focus its marketing beam beyond China which, if successful, will be a huge win for the network. Since it targets companies which will create a network effect for the platform which is already making strides in China, winning over the need for a wider reach (outside China) is the major issue for Bytom.
Where it stands the chance of riding ahead of other public blockchain platforms is with regulation. Regulatory uncertainty in the US could be a slight setback for many projects depending on how soon the country acts with regards to competing for blockchain technology leadership with China - as it seems, China seems to be riding solo presently unperturbed of any contest. President Xi Jingpin's somewhat endorsement of the blockchain technology is a big boost for related businesses in China.
As enterprise use continues to be a key focus for blockchain in China, the result is likely to begin to manifest in 2020 when local governments and other agencies start to implement their applications. That may not be the case for US-based companies.
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