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PlatON

PlatON Network is designed to be the next-generation data-sharing platform that features verifiable and privacy-preserving computation.[1]

Overview

PlatON was initiated and promoted by the LatticeX Foundation. Based on the basic properties of the blockchain and supported by a private computing network, PlatON provides the next-generation Internet basic protocol with "computing interoperability" as its core feature.[2]

Pledge: In the PlatON network, pledge is the behavior of nodes joining the PlatON network by locking a certain LAT. PlatON uses the PPoS consensus mechanism to select verification nodes.[3]

PlatON builds a computing system jointly assembled by cryptographic algorithms such as verifiable computing, secure multi-party computing, zero-knowledge proof, homomorphic encryption, and blockchain technology, and provides global artificial intelligence, distributed application developers, data providers, and storage various institutions, communities, and individuals with computing needs provide public infrastructure under an open-source architecture.[1]

Staking is the core function of the PlatON network. The greater the proportion of LAT involved in staking and delegation, the higher the security of the PlatON network. A node is selected as an active verification node mainly based on the total pledge ranking of the verification node's own pledged LAT and the LAT entrusted to the node by the delegator.[2]

PlatON Token

LAT is the native token of PlatON. It is a kind of "digital currency". Users can send it on the PlatON network or use it in the PlatON application. Presently, users can obtain LAT by participating in the Grants program of the LatticeX Foundation and other subsequent community development programs.[3]

Uses of LAT Token

  • LAT provides fuel and guarantees PlatON network security

In the PPOS mechanism, LAT is very important to the network. LAT is used to delegate nodes, or to pledge themselves to become a verification node, in order to maintain PlatON network security and obtain LAT rewards.

  • LAT as the medium of the data trading market

As a payment medium, LAT assumes the important task of PlatON's future data and computing power market clearing and settlement tools. Participants of the PlatON network earn LAT by providing data usage, computing power, and algorithms

  • LAT supports the development of DApp ecology

PlatON supports the development of DApps and DeFi and introduce the economic coupling design of DApps and DeFi. For example, DApps can issue their own tokens, and DApp's tokens must be backed by LAT reserves. PlatON also supports the development of stablecoins backed by LAT.

PlatON Specialties

Verifiable Computation, Blockchain, Distributed Business, Digital Assets, Digital Currency, Multi-Party Computation, Cryptography, Infrastructure, Computation, Privacy-Preserving, Privacy Protection, KMS, Blockchain Consulting, Decentralized Network, Data Sharing, and Data Exchange.[1]

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PlatON

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Edited On

August 23, 2022

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New Wiki Created 🎉

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