Recap 2019 of PlatON

Recap 2019 of PlatON

2019 marks the turning point and the eventful year of blockchain industry.

It is said that 2019 is the year of 5G network, the combination of 5G and blockchain technology has the potential to unleash a surge of economic value. IoT allows devices to send data to private blockchain ledger for inclusion in shard transactions with tamper-resistant records. The converging of AI, IoT and blockchain will achieve digital transformation. Besides, the big data and blockchain are two complementary technologies to ensure data value. In Oct, Chinese President Xi Jinping highlighted the potential of blockchain technology and said that China should take blockchain as an important breakthrough for independent innovation of core technologies and speed up the research. President Xi’s statement on support of blockchain is believed to be his first in-depth remarks on the technology.

Holding the belief of enabling a better and more secure world, we strives to be top player in the fields of privacy-preserving computation. Thus, in 2019, PlatON keeps enhancing the research and development on blockchain and cryptography technologies to deliver comprehensive solutions on data privacy, improving the features, performance, stability and upgrade of PlatON network, and has deeply get involved in the midst of “5G + IoT + big data + smart city + AI” ecosystem of the interconnected world we are and will be living in. We formed the strategic partnership with giants in specific fields such as Daimler AG, Wanxiang Blockchain, China Unicom IoT for a flourish “blockchain +” ecosystem facilitating privacy-preserving computation.


1. PlatON Token Fund

On Feb.2, 2019, PlatON launched its ecosystem fund — PlatON Token Fund with 5 million USDT worth of ETH/BTC on building privacy-preserving decentralized network and its ecosystem. And the token fund has already invested in promising projects such as

2. KeyShard

On Mar.14, 2019, PlatON launched its digital asset custody service, KeyShard, based on secure multi-party computation. KeyShard protects users’ assets with bank-grade security and user-friendly access.


On May, 2019, PlatON launched Vitu, a social crypto intelligence platform focusing on the sources, researches, discussion, etc on blockchain and crypto.

4. Economic Blue Book

On Jun.27, 2019, PlatON announced its Economic blue book “A Blockchain-based Infrastructure for Privacy Computation and Distributed Economies”, the economic model of PlatON by Dr.Chuanwei Zou, Chief Economist of PlatON.

5. One-year Anniversary

On Jul.19, 2019, PlatON has its first anniversary. Meanwhile, July 2019 also marks the 50th anniversary of Wanxiang Group. PlatON and Wanxiang Blockchain have gained vital achievements in big data, 5G, IoT and smart city ecosystem since the very begining the two projects formed strategic partnership.

6. PlatON x Oasis Labs: Global Strategic Partner

On Sep.14, 2019, PlatON and Oasis Labs officially announced its global strategic partnership on privacy-preserving computation during Shanghai International Blockchain Week 2019, dedicated to being top players in the data privacy field.

7. PlatONE

On Sep.25, 2019, PlatON and Wanxiang Blockchain officially announced PlatONE, the next-generation consortium blockchain platform supporting privacy-preserving computation to address the existing inadequacies in today’s blockchain infrastructures and provides greater security, scalability, and privacy for data sensitive industries looking to gain the benefits of blockchain.

8. Establishment of New Global Headquarters

On Nov.12, 2019, PlatON officially announced the establishment of its global headquarters in Singapore. The expansion in Singapore marks a key milestone for PlatON as it develops a blockchain-based infrastructure tailored for the Southeast Asian market which will facilitate secure, seamless and open data sharing for the public good.

Focus in 2019:

1. Blockchain fundamental technologies: including consensus algorithm, economic model design, and blockchain improvement plan, based on network and storage optimization.

2. Cryptography: we have built up a strong research and engineering team.

3. Privacy AI: we have built an AI architecture with high usability.

Developed and Delivered:

1. Developed basic components of new generation of blockchain infrastructure, CBFT/PPOS/PIP together with newly developed VFR algorithm went live on PlatON testnet Baleyworld. Delivered and tested multiple versions, the current version that is open sourced on github is 0.7.5;

2. Developed and delivered fundamental tools, developed wallet, browser, and test framework, and command line tools for node management;

3. Developed KeyShard and delivered KeyShard 1.2.0 to community in Aug, upgraded to 1.3.0 and delivered to client in Oct, 2019;

4. Delivered a production platform for a logistic firm on Mar, 2019, upgraded to new version on Apr, 2019;

5. Developed the Vehicle Residual Value Management Platform for the Used Car Department of Daimler AG;

6. Delivered a blockchain platform that has went live on PlatONE for Minsheng Insurance, one of the first strategic partners of PlatONE;

7. Developed an AI model demo based on Privacy AI for SPD bank digital ID.

Brief Introduction of Current PlatON Product Group:

PlatON: an infrastructure for privacy-preserving computation and distributed economies. It will be a global, cross-industry data exchange and collaborative computation infrastructure. In addition to this, we also have:

KeyShard: digital asset custody services, MPC based threshold signature mechanism.

BoAT: Blockchain of AI Thing, trusted identity authentication and privacy-preserving data computation solution for the enterprises of AIoT

Vitu — Generate accurate predicts (signals) based on historical data, live market feed, and AI models. Where AI models are hosted by open platform, managed by community.


1. Announced the Establishment of Global Headquarters in Singapore.

The expansion in Singapore marks a key milestone for PlatON as it develops a blockchain-based infrastructure tailored for the Southeast Asian market which will facilitate secure, seamless, and open data sharing for the public good. With a vibrant culture of innovation and fintech development, Singapore is an ideal hub for PlatON’s expansion as the organisation aims to work closely with local authorities and build connections with enterprises across Southeast Asia.

2. Announced Enterprise Blockchain Technology (branding as PlatONE since 2019) with Wanxiang Blockchain

PlatONE is a consortium blockchain platform supporting privacy-preseving computation to address the existing inadequacies in today’s blockchain infrastructures and provides greater security, scalability, and privacy for data sensitive industries looking to gain the benefits of blockchain. The development of PlatONE is as follows:

a. Kicked off with a few POCs done in 2016

b. Applied in BCOS open source with Webank

c. Went Live with its beta version for one of the biggest China’s financial institutes in Jul, 2018

d. Integrated for a logistics firm in May, 2018

e. Open sourced with new branding name as PlatONE, as the enterprise solution of PlatON on Sep.25, 2019

f. Enabled WASM VM in Oct, 2019

g. Will upgrade with CBFT etc in 2020 based on brand new PlatON technologies


✨Development Achievements of PlatON:

1. Completed the consensus algorithm breakthrough based on Libra, Tendermint etc, came up with PlatON CBFT implementation

2. Reached Peak TPS over 5,000 on globally distributed 100+ nodes

3. Completed over 200K lines source code, enhanced more than 50% core logic on top of Ethereum, completed PlatON version 0.7.X covering:

a. Cryptography algorithms

b. Consensus algorithms

c. PPoS model

d. PIP PlatON improvement plan

e. Storage optimization, slimed nodes with 80% storage saved

4. Crypto engineering team entered final round in iDASH 2019

5. Patent recap

Applied multiple patents covering blockchain technology, cryptography, and digital asset trading.

✨PlatON Network Ecosystem

In 2019, PlatON formed the strategic partnership with HashQuark, SNZ Holdings, SlowMist, in addition to Wanxiang Blockchain, and feel honored to have them joined PlatON’s ecosystem as block producers. Besides, we are also excited to have many prominent projects to help the verifiacation work such as Crypto Briefing, InfinityStone, RuntimeVerification, etc.

Partners in PlatON Ecosystem:


2. IRISnet

3. Oasis Labs

4. SlowMist

5. HashQuark

6. Wanxiang Blockchain

7. InfinityStone

8. BlockTest

9. RuntimeVerification

10. CryptoBriefing

11. Matpool

✨Contribution on the Development of Cryptography and Data Privacy

In 2019, PlatON continues helping pushing the research and developmet of cryptography, and has sponsored many world’s top cryptography conferences including:

1. CIS2019 (PlatON served as sponsor and co-organizer)

2. IACR Crypto

3. Eurocrypt

4. Asiacrypt

5. The 26th ACM Conference on Computer and Communications Security (PlatON served as one of the bronze sponsors)

6. iDash Privacy and Security Workshop 2019 (PlatON served as the exclusive sponsor)

7. Osaka Ethereum Lightning Talks

Besides, PlatON also gained academic achievements:

1. Chief Cryptography Scientist Prof.He was selected as one Highly Cited Researcher in Computer Science

2. Paper ”Valiant’s Universal Circuits revisited: an overall improvement and a lower bound” completed with Shanghai Jiao Tong University, State Key Laboratory of Cryptology, released in Asiacrypt 2019

Global Exposure:

1. Granted as Ethereum foundation sponsored project of current proof of custody construction as an MPC

2. Sponsored and gave exlcusive speech on privacy-preserving computation in Ethereum Lighting Talks at DevCon5, Osaka, Japan

3. Provided KeyShard product to global tier one investment bank

4. Won in SPD bank global innovation Jam 2019 with bronze award

External Endorsments:

1. SlowMist joined PlatON’s network for helping the safety and liveness certification

2. InfinityStone joined PlatON’s network to provide blockchain node management tool set

3. BlockTest joined PlatON’s network to provide embedded development tool set, for example IDE

4. RuntimeVerification joined PlatON’s network to provide economic model and consensus algorithms verification

5. Wanxiang blockchain showed great support on the development, test, and source code verification for PlatON network.


1.Technical challenges

1. Distributed consistency data system

a) ACP: Availability vs Consistency vs Partition tolerance

b) FLP: Fault tolerance vs Liveness vs Satefy

c) Scalability Trilemma: Decentralization vs Security vs Scalability

2. Bottleneck

a) Limited computation resource of VM, the most weak node will be the bottleneck of reaching consensus — a light weighted fast consensus algorithm is required

b) Limited storage resource of each node, blockchain should run forever with all data records traceable — how to make the chain working for 100 years with 100M active users, 100T transactions?

3. Difficulties and challenges in developing the best of the best public blockchain even under non-stop 24×7 intensive development;

4. Open environment with bad guys around, facing high attack risks.

Collaborative Programs:

In 2019, PlatON formed collaborative programs with world’s top projects facilitating the ecosystem of “blockchain + 5G + IoT + big data + AI”

1. PlatON x Waxnaing Blockchain: Wanxiang Innova City, PlatON provides the blockchain-based infrastructure for safeguarding the data privacy of citizens living in this biggest smart city program in China

2. PlatON x Oasis Labs: global strategic partnership on privacy-preserving computation featuring world’s leading solution provider on data privacy

3. PlatON x Wanxiang Blockchain x China Unicom IoT: Blockchain & IoT Joint Innovation Center, PlatON provides blockchain-based infrastructure

4. PlatON x : BoAT (Blockchain of AI Things), PlatON plays an important role in this Blockchain & AI project and shows great support for by incubating it.

5. PlatON x Daimler AG: Vehicle Residual Value Management Platform. PlatON developed and delivered a blockchain-based infrastructure of the residual value management for the used car department of Daimler AG


PlatON has very solid background in both academy and economic, and in 2019, we are thrilled to have Mr.Xinjun Liang, chairman of XIN Family and co-founder of Fosun Group; Mr. Leo Lin, founder and CEO of; Dr.Yang Ran, former Chief AI Scientist of NCF Group, and Mr.Elton Shijie Qu, Managing Director and CIO of CCB Frontier Capital, joined PlatON as the Chief Advisor, Chief Innovation Officer, Chief AI Officer, and Chief Compliance Officer, respectively, to enhance the strengths of PlatON and lead the versatile product lines of PlatON.


1.Great support and valuable content from participants worldwide in PlatON’s bounty program

2.PlatON Korean Naver blog by PlatON community member and the biggest contributor.

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