Welcome to PlatON Tips-Episode 1
So on this video, we gonna talk about What is PlayON and What is LAT?
PlatON was initiated and promoted by the LatticeX Foundation. It is based on the basic properties of the blockchain and supported by a privacy-preserving computing network, PlatON provides the next-generation Internet basic protocol featuring “computing interoperability”. It 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 to provide public infrastructure under an open-source architecture for global artificial intelligence, distributed application developers, data providers as well as various institutions, communities and individuals with computing needs. PlatON will play an important role in AI Oracle, Game, Biomedicine, Financial Risk Control, Smart City and other fields.
LAT is the native token of PlatON Network. It is a digital currency. You can transfer it through the PlatON network or use applications built on PlatON with LAT.
What is LAT for?
LAT fuels and secures PlatON.
When you transfer LAT or use a PlatON application, you need to pay a small LAT as fee. The fee is used to incentivise the node to process and verify your transaction. In the PPOS mechanism, LAT is of great importance to the network. With LAT, one can delegate to validators or become a validator by staking themselves, which help maintain PlatON network security. Both the validators and delegators can get LAT rewards.
LAT acts as medium of data trading market.
As a payment medium, LAT is used to settle trades in the PlatON market for data and computing power. Participants in the PlatON computation network earn LAT by providing data usage, computing power, and algorithms.
LAT supports the development of PlatON DApp ecology.
PlatON will further support the development of DApps and DeFi and introduce economic coupling designs for DApps and DeFi. For example, DApps can issue their own tokens which must be backed by LAT reserves. PlatON will also support the development of stable coin collateralized by LAT.
How to get LAT
You can obtain LAT by participating in the Grants Program supported by the LatticeX Foundation, and you can follow up other community development programs to obtain LAT. Currently, LAT is available on several cryptocurrency exchange platform, you can get LAT by selling and buying through those exchange.
Do you know how to manage LAT with ATON? If you would love to learn more, please subscribe to the channel. Thank you all so much again for watching this video, if you guys like this content please don’t forget drop LIKES. Hopefully you guys enjoyed and I will see you all in the next one.