Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with PlatON on July 12, 2020. This guest star Kai Yu Head of Community at PlatON. If you were unable to join the live AMA, no worries, here comes our 28th AMA recap!
We are glad to meet here :
Kai Yu, Head of Community at PlatON
For taking your time out from busy schedule for the AMA!
Hey Kai , Can you introduce PlatON and yourself to the community?
Hello everyone, I’m Kai Yu, Head of PlatON Community. Previous to join PlatON in 2018, I’ve been devoted myself to the publishing and operation of online game for two decades.
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 filed, 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 Chinse Fin-tech filed 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:
1.Finance: solid background and resources;
2.Engineering: strong software engineering system and implementation capabilities;
3.Development of Privacy AI: investment on the development and business practice of privacy AI for over 4 years;
4.Business: rich experience in business operation and marketing collaboration
Can you share the achievements and main milestones of PlatON?
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. Our validators and community members all get involved in different events and tests to deeply get familiar with PlatON’s economic, governance mechanism and technologies, and have helped find out the vulnerabilities and issues at the same time. Security and stability are the top priorities for our main net.
Plus, we launched world’s first privacy AI framework that helps developers easily deeply get involved in Tensorflow and privacy-preserving computation, and helps build the next generation data bank service. We are working on forming collaborations with commercial banks and insurance institutes.
Furthermore, after our Grants program was announced in early 2020, we’ve funded around 10 promising projects in privacy-preserving computation and blockchain fields to complete PlatON ecosystem.
Can you share the latest developments and further plans of PlatON?
Performance, security and stability are the top priorities for the announcement of our main net. Since the launch of our new Baleyworld test, we’ve gone through all kinds of function tests, exception tests, security tests, governance drills, and stress tests under the testing environment that simulated and reproduced all risks and issues that would occur on the main net. The overall performance, according to the test reports, is satisfying. Even when dealing with complicated smart contracts, the TPS can reach 2000 or so. In addtion, according to the report of new round of security audit finished by SlowMist, we’ve ensured the absolute security of PlatON network with high-quality code.
For us, the prime targets are to announce our main net in Q3, 2020, and enhance our community. Just stay tuned for further updates.
How do you think about Blockchain and it’s development trends?
Frankly, due to the limits of development and businesses, blockchain is still in its early stage and hasn’t fulfilled itself in pushing the development of the whole industry.
Went through the ups and downs over the past decade, the real goal of blockchain is to build the public infrastructure for the whole digital world and globalization. It is born to solve the consistency problem and improve the efficiency of payment and settlement, and reduce the risks of errors and frauds to the great extent. However, blockchain can’t be applied for the complete transfer of the whole financial industry, but the whole digital era as the support for massive transaction services and circulation. Thus, the final target of blockchain is to realize the circulation of data assets around the globe, and serve as the super clearing house for cross-ID, cross-account, cross-institute and cross-industry.
My question is whats the purpose of helding this AMA and what are the plans to give the advantages and awareness to non educate community about crypto and in which countries do you focus to establish this project?
We want to showcase our team, project concept, strengths, understanding of the combination of blockchain and privacy-preserving computation, and what we can achieve in the forthcoming digital world, through this AMA.
We are open to the collaborations on hosting different events and enhancing our community with all community partners worldwide. We wish to pitch the local enterprises that may be interested in joining our ecosystem and improve the value and adoption of LAT accordingly.
We are a global-oriented project, and SEA is our first prime target field. We will have more marketing events collaborated with the local partners to let more users get to know us.
What kind of business or corporation is suitable for using platON technology?
As we believe privacy-preserving computation will definitely be the important support of public infrastructure for the whole digital world in the near future and data is the next generation of production factor, thus. all enterprises and institutes that follow compliance strictly and have strong demands on data are our potential clients.
These businesses and corporations include but not limit to finance, vehicle, IT, scientific research, healthcare, advertising, etc.
You were the special guest at #IndustrialBlockchainTalks and talked about privacy-preserving computation’s solutions, use cases, and how it can facilitate the digital market with #blockchain. Can you share with us some of your KEY highlights?
What comes first and the most important is that we have an engineering team with rich experience. We prefer business practice capability rather than technology innovation only, which enables us to provide the end-to-end operation service.
We stand out in the research and investment on cryptography in the global blockchain industry, and our privacy-preserving computation based on cryptography has been recognized worldwide.
In addition, we apply the highly efficient CBFT consensus mechanism, PPoS that accommodates both centralization and efficiency, world’s first MPC-based privacy contract and scalability solution based on verifiable computing, and the highly efficient WASM that supports multiple programming language to facilitate our business implementation.
Furthermore, we’ve announced world’s first privacy AI algorithm, and the KMS system based on threshold signature, helping explore the use cases and massive adoption of cryptography-based privacy-preserving computation.
The user community is important to a crypto project. How does Platon evaluate the importance of the user community? In the near future, does Platon have any special plans to attract and expand the community?
We think 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.
As you know, the collaboration between PlatON and Nano News community is just the first step of our community construction in Indonesian. We will have more community partners in SEA, and host diversified community campaigns to complete PlatON ecosystem.
The CORONA and MARKET CRASH impacted way too much within MILLIONS of companies, LAYING off many many Employees.
How is Platon dealing with this problem? With the market crash and corona?
The outbreak of coronavirus has a great influence in and even is changing the operation mechanism and models of enterprises and society worldwide.
Thanks to Chinese well-developed internet infrastructure and our decentralized culture of blockchain gene, we’ve gone through the transition smoothly without team shrink. The whole project gets its operation up to speed following our original project plan.
During the epidemic of coronavirus, the whole PlatON team have kept working from home. We’ve developed an online control system to make sure all works are on tract while working remotely.
Seen from the outbreak of coronavirus, we can find that the digitalization is accelerating. The face-to-face communication may reduce, while online communication will increase greatly just like the AMA we have today. We are embracing and have got prepared for this change. Additionally, macroscopically speaking, the digitalized migration will make the value of data more and more significant. Overall, we should get ready for that.
What are the core cryptography technologies of PlatON?
Secure Multi-Party Computation (MPC)
Zero-Knowledge Proof (ZKP)
Homomorphic Encryption (HE)
Hardware implementation on cryptographic algorithms
When is PlatON’s main net expected to be launched?
What’s the important product PlatON launched in early 2020?
What’s the prime target market for PlatON?
What’s the consensus mechanism of PlatON?
As i know,DeFi is the important topic in the blockchain space right now and near future,so can #Platon share your opinions on DeFi? Do you think that DeFi will disrupt the existing financial system and What is Platon approach towards the it?
DeFi is meant to reproduce the businesses in traditional finance field on blockchain, especially the lending and borrowing business of bank. Before the blockchain takes effect in serving as the public infrastructure, the original assets transactions are just a game of market. However, the traditional financial assists haven already worked well before the rising of an emerging infrastructure. The popularization of DeFi must be based on new assets, applications and services.
What are the exciting new Features of PlatON because of the Upgrade of PlatON 0.13.0?
The PlatON 0.13.0 introduces the whole new address format of our ATON wallet, and the parallel transaction function to improve the transaction efficiency greatly.
I’m interested in contributing to PlatON, can you expantiate more on your Grants program incentives? How do I apply ?
Please check the details via: https://latticex.foundation/grants
What is the implementation of the PoC scheme using MPC for Etherium 2.0? Briefly describe the business processes and the interaction of the basic protocol and the corporate block chain?
The architecture of Ethereum 2.0 is based on a Beacon Chain connecting to multiple parallel shard chains, which are independent of each other. And in Ethereum 2.0, a part of committee composed validators will be responsible for producing blocks. Since these validators are independent of each other, there would definitely be data availability problem in the collaboration work.
To solve this problem, Ethereum 2.0 offers the PoC solution, of which the validator nodes are required to show a “proof of data ownership” when submitting a new produced block. In order to prevent single points of failure and reduce the delegating cost of validators, PoC is designed to be compatible with MPC. In addition, Trustless Staking Pools can be established with MPC, and it is highly possible to derive a new Staking model with it.
With this ambitious design goal, Ethereum invited PlatON to participate in the design and implementation of PoC with the grant funding from Ethereum Foundation.
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
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.
From Leibnitz’s thinking on world’s computing attributes and the governance attributes, to the source of technology and governance, we finally chose PlatON as the project name that undertakes our concept and brief. From the technology exploration to the seeking of governance, Plato Network is the carrier of our ideals.
Thank you for trusting NanoNews as the organizer of the event today, hopefully everyone can understand about PlatON
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