Coinight AMA Recap – PlatON Network

PlatON is a blockchain-based infrastructure for the future-oriented privacy computation and distributed economy. It aims to facilitate secure, seamless, and open data sharing for the public good with the combination of blockchain and leading cryptographic technologies. Through its Privacy-Preserving Computation (PPC), PlatON break down data silos and enables secure data exchange and collaborative computing for both individuals and enterprise users.

With its open-source data marketplace, PlatON supports and incentivises individuals and businesses looking to both monetize and utilize data resources. PlatON addresses limitations in scalability and security by way of Verifiable Computation and privacy-preserving encryption capabilities, currently enabling real-world usability across a variety of global industries, including advertising, healthcare data management, IoT and decentralized AI, financial services, as well as key management systems.

Peoples on Discussion:
Dodik Hermawan – Coinight Team
Kai Yu – Head Community of PlatON

Segment 1 – Introduction 
Can you explain to us, what is PlatON?

PlatON aims at serving as the infrastructure for privacy-preserving computation network and distributed economies. After years of researches and development, we’ve already been a top player in the global privacy-preserving computation field, and an infrastructure supporting massive data asset transaction with our years of experience in Finance, High-tech, AI, etc.

Regarding privacy-preserving computation, we focus on providing the solutions for the industries that have strong demands on data sharing and collaboration computing.

Data is the new-generation production factor, and privacy-preserving computation will definitely be the core of infrastructure of the whole digital era in the near future.

Blockchain, born to be a financial infrastructure, aims at facilitating the circulation of data assets. It is a super clearing house for cross-ID, cross-account, cross-institute and cross-industry, and a revolutionary governance model.

PlatON will keep devoting itself to the core technologies and economic model of blockchain, and diving into the core applications for the super infrastructure based on privacy AI.

Can you share the strengths of PlatON that make PlatON stand out?

I think our biggest strength is that we have a team with solid background in both academics and technologies. With years of experience in both finance and blockchain areas, we are bullish about the value and future of blockchain, and we are capable of making blockchain the infrastructure for the whole digital world in the near future.

Dr. Feng Xiao, PlatON Founder and Wanxiang Blockchain Chairman & Founder, is an advocate and the godfather in the Chinese blockchain industry, and also an early investor of Ethereum. Mr. Lilin Sun, Founder and CEO of PlatON, is a pioneer in Chinese Fin-tech field and also an advocate & sponsor of computational complexity theory such as ZKP, MPC, HE, algorithm game theory, etc. Mr. Xinjun Liang, PlatON Chief Advisor and Fosun Group Co-founder, is an economic leader in China.

Over the past four years, we keep investing on cryptography and have achievements on the leading technologies and engineering of cryptography.
Thus, our core strengths are:
Finance: solid background and resources;
Engineering: strong software engineering system and implementation capabilities;
Development of privacy-preserving computation: investment on the development and business practice of privacy-preserving computation for over 4 years;
Business: rich experience in business operation and marketing collaboration

Can you share PlatON’s privacy-preserving computation and Privacy AI further?


PlatON focuses on cryptography technologies and combines trusted hardware to implement privacy-preserving computation. PlatON’s privacy-preserving computation architecture, from the bottom to top, consists of basic cryptography algorithms, blockchain, Privacy AI and privacy data platforms, for the purpose of delivering the deployable and operational products rather than technology itself. Cryptography is just a technology implementation.

We firstly applied Privacy-Preserving Computation on KMS (Key Management System) solutions for the management of digital assets, including the crypto wallets and trading among institutes. Later on, we focus on the development of Privacy-Preserving Computation combined with AI and big data, and have delivered solutions for world’s first-tier financial institutes.

PlatON’s Privacy AI solution, powered by privacy-preserving computation technologies, can train and infer AI models without data disclosure, to utilize the data value maximally on top of ensuring the data privacy.

What phase are the roadmaps at? What is PlatON trying to solve for the development of the blockchain Industry? What are PlatON’s current and future targets to be realized?
Currently, we are close to the final stage of main net development, and focus on the drill and optimization of our new test net launched on Feb.20, 2020.

PlatON aims at serving as the infrastructure for privacy-preserving computation network and distributed economies. After years of researches and development, we’ve already been a top player in the global privacy-preserving computation field, and an infrastructure supporting massive data asset transaction with our years of experience in Finance, High-tech, AI, etc.

Regarding privacy-preserving computation, we focus on providing the solutions for the industries that have strong demands on data sharing and collaboration computing.

For us, the prime targets are to announce our main net in Q3, 2020, and enhance our community. Just stay tuned for further updates.

As Head of Community, can you tell us what’s the role that community plays in PlatON, and how do you plan on developing it?

For PlatON team and even the whole PlatON ecosystem, community is vital for the development of blockchain projects, and a powerful community consensus will bring great support for the long-term value of projects.

We aim at developing PlatON as a flourish and well-received community, and appreciate the core members who have stayed with us since the very beginning of PlatON community and their contribution, thus, we have an ambassador plan to recruit the ones who are bullish about PlatON and want to be parts of PlatON. So far, we’ve selected the first ambassadors located in and will be responsible for the community growth in U.S., Korea, Indonesia, India, Vietnam, Philippines, Euro, Mainland China, etc. from the core community members.

Segment 2 – Questions from Twitter

~ Question from @PeNaNa256:
I have read that PlatOn depends, plans to depend heavily on Staking, could you tell us what is required for a user to be able to stake? up to how much% could it generate annually?

Users can run a node to join PlatON network as a validator. Currently, we are in the final stage of main net development. You can start from being a validator of PlatON test net, and win related rewards if you are interested in it.
As for the profits, validators in PlatON main net can enjoy block production reward, staking reward, tansaction service fees, potential profits for being a Super Agent.

Apart from that, LAT holders can get rewards by delegating their LAT to the validators. The delegation rewards includes:
1.Block production rewards based on delegation reward ratio. If a candidate validators is selected to be the validator, then the delegators can get the related block production rewards.
2.Staking rewards based on delegation reward ratio. If a candidate validators is selected to be the validator, then the delegators can get the related staking reward in each settlement interval.

PlatON’s bonus pool comes from the yearly additional issuing, and allowance from LatticeX Foundation by mean of locked-position in the first 10 years after the launch of PlatON main net. By doing so, the validator profits are ensured. Besides, LatticeX Foundation has sponsored 7 validators for the stability of PlatON network, and the profits from the 7 validators will come into the bonus pool for rewarding all PlatON validators.

~ Question from @MagnatSV:
Interested in the issue of PlatON ecosystem security. How secure is the PlatON structure, and what security measures have been taken?


Security is the top priority all the time, and we’ve done intensive tests and verifications on underlying architecture, P2P security, RPC security, account model, virtual machine, consensus security, etc.
Besides, our strategic partner on security SlowMist has completed two rounds of security audits, and according to the audit reports, PlatON has ensured its absolute security with high-quality code.

~ Question from @Rosanela08:
In your website, there is a section for monthly reports, and that hasn’t been updated since April, what progress and updates are the most relevant since then when would we expect the reports of may, june and july?

Community is the best place to keep us connected, and also the best way to get all the updates, help, support about PlatON, and opportunities to work with PlatON network; to discuss the developments and achievements, and share in-depth views. Community is vital for the development of a project. So just join our community to keep updated.

Also, you can find announcements and monthly/bi-weekly reports from our official blog in medium

Our main community are:

~ Question from @candytree11:
Platon test network has been testing for some time, can you share some details of the test network?

Security, stability and network performance are the top priorities for PlatON network, thus we’ve gone through plenty of tests and governance drills in the upgrades and iterations since the beginning of new Baleyworld test net in early 2020.

In late August, we launched PlatON 0.13.1 in the new Baleyworld test net. We are now in the final stage of main net development, and have entered into the open beta stage of main net. So far, it works well. All major developments have been finished, we are just working on the code review, parameter adjustment, etc.
The main net will be announced soon when everything gets ready.

~ Question from @TrinhDucLuong9:
DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinion about DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is PLATON approach towards the DeFi sector?

We noticed that DeFi has been a hot topic worldwide, and it just fits our development strategy. We aim at building PlatON as a financial infrastructure, thus DeFi will be one of the key business development directions.

PlatON, based on PPoS economic consensus, featured with high TPS and low gas cost, which facilitates the development of existing main DeFi programs on PlatON network. And we will announce more plans on DeFi for better development of PlatON as the infrastructure.

Segment 3 – Live questions

~ Question:
What is the meaning of the name platON? It called my attention because of Platon the greek philosopher who is tremendously famous and had huge influence in the occidental society

Yes, PlatON, abbreviated from Plato Network, is to show our respect to one of the greatest western and even the world’s greatest philosophers and ideologists Plato after going through the whole computing theory starting from Leibnitz.

~ Question:
Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?


Our business development and operation follow the laws and regulations worldwide, thus we will collaborated with top exchanges that follows compliance strictly on the issuing and listing of our LAT, which will improve the adoption of our LAT and help us extend global awareness at the same time.

Tell us about the cooperation of QB and PlatON, which are new. How is collaboration with Tokenview-based data going?


QB is a part of the PlatON’s community construction, and provides stable tech support and feedback. Plus, QB will bring in the data collaboration of TokenView, and deep discussions on the authorization, collaborations and transactions of data. It will introduce more business collaborations at home and abroad for PlatON with their strengths.

It is known that Chainlink is a general-purpose framework for building decentralized oracle networks. So what are the advantages of PlatOn when working with Chainlink? Will Chainlink help you in adoption?

PlatON and Chainlink are strategic partners, and PlatON CTO James Qu attended and gave a speech in Smart Contract Summit #0 hosted by Chainlink last week. PlatON’s privacy-preserving computation will empower Chainlink on the data privacy capability, while the powerful combination between PlatON and Chainlink will facilitate the market exploration and acquisition for PlatON.


For any blockchain token to be truly successful it must have real utility. So, what are the uses and functions of PlatOn token, what roles will it play in PlatOn Ecosystem?


According to economic model of PlatON, we have several methods to gain the value of PlatON’s native token LAT:

1.Similar to PoS mechanism, the election of PlatON validators relies on the sum of staked LAT and delegated LAT. PlatON applies VRF to select the validators that participate in the BFT consensus in a wide range, which ensures the balance of decentralization and scalability, and helps increase the capability of PPoS mechanism;
2.Like other mainstream public blockchains, PlatON supports the development of DApp and DeFi, and will bring in the economic coupling design of DApp and DeFi. For example, the DApps on PlatON network can issue their tokens with LAT as their reserve fund. The sub-communities of DApp determine the intensity of coupling relationship between the tokens of DApp and the reserve fund of LAT. Once the sub-communities of DApp are set through the coupling relationship, they have restraint force and should be executed by smart contract. Otherwise, if the sub-communities of DApp withdraw part of token, the smart contract will refund the related reserve fund of LAT. Thus, along with the development of DApp, users need to get more LAT as the reserve fund, which can help LAT gain value from the development of DApp better;
3. PlatON will support the stablecoins staked by LAT. In the data and computing power market, some participants may prefer to settle with stablecoins rather than LAT. PlatON is flexible on that. The more stablecoins used for settlement, the higher demands on stablecoins. It will make more LAT be the guarantee.Coinight AMA Recap - PlatON Network
4. LAT is used for settling the debtor-creditor relationship between data and computing power transactions. The development of data and computing power market will improve the demands on LAT.

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