LBank AMA Recap with PlatON
Date: 21/05/2021
Time: 19:00 UTC+8
Venue: LBank YouTube channel: https://youtu.be/KDz6k6tSdJw
Guest: HL (Originator of PlatONWorld)
Host: Venus| CMO of LBank
PlatONWorld & LBank AMA | HaoLan : Why do we think PlatON can grow up to a blockchain network with a market value of 100 billion
First question
Moderator: Could you please introduce yourself and PlatONWorld.
HaoLan: Hello everyone, LBank users and YouTube fans! I am Hao Lan, the co-founder of PlatONWorld. PlatONWorld.org is a multilingual, resource navigation and content-oriented growth community platform for members and users of the global PlatON and Alaya ecosystems. It is also a node partner of PlatON and Alaya. Establish a communication channel for global users to quickly learn and understand PlatON and Alaya related information, as well as a bridge to quickly participate in ecological applications and activities. In addition, PlatONWorld will also assist in the brand building and promotion of PlatON and Alaya, allowing more users in the non-blockchain industry to understand that privacy computing can give more value to humans in the future.
Second question
Moderator: What kind of project is PlatON? And what is its vision and mission?
HaoLan: In such a new data-driven era, the value flow of data is the core pain point of the new era that surpasses the blockchain industry, and it is also the core of PlatON. Simply put, PlatON is a public chain project with privacy computing functions. It has world-leading encryption functions, fully commercialized business logic, and can provide carrier-level services. PlatON also defines itself as a “privacy AI computing network.”
PlatON is committed to becoming the world’s leading open source community of private computing technology and distributed AI, and is also a pioneer and leader in the global private computing field. A high-performance distributed computing network focusing on scalability and privacy protection for a long time. It is a global artificial intelligence through a next-generation computing architecture jointly assembled with cryptographic algorithms such as verifiable computing, secure multi-party computing, zero-knowledge proof, and homomorphic encryption. Distributed application developers, data providers, and various communities, institutions, and individuals with computing needs, provide public infrastructure under an open source architecture.
Third question
Moderator: Why do you choose All in PlatON?
HaoLan: First of all, we have the honor to participate in the first round of 2018 and the third round of PlatON (LAT) pre-sales in 2021. PlatONWorld is jointly initiated by a group of blockchain world HODL. The background experience of several promoters covers multiple fields such as blockchain R&D and investment, Internet products and operations, enterprise-level digital intelligent consulting and implementation, brand strategy and marketing communication, and they are organically run in.
Secondly, many sponsors of the team started to pay attention to and follow up on privacy computing related technologies and PlatON project in 2018, and continue to learn. And in-depth study of application modes and scenarios with the PlatON team and TOP companies in many traditional industries.
Based on deep insight into the development trend of cross-border decentralization of blockchain, insight into the rigid demand for privacy protection technology in the global digital and intelligent development, and insight into the huge catalytic effect and commercial potential that privacy computing can bring to big data and AI, the PlatONWorld team With a “long-termist” attitude, we are committed to helping the LatticeX Foundation to cultivate and develop PlatON related ecology, expand application scenarios, expand consensus, and jointly realize the sci-fi future of privacy AI. So we chose ALL IN.
Fourth question
Moderator: The privacy computing track has been very hot in the past two years. What are the advantages of PlatON over other competitors?
HaoLan: When it comes to the field of privacy computing, Oasis, Findora, and Secrect Network will unconsciously be pulled into the PK link in the public eye. Privacy computing is a relatively new field, and its widespread application is still in its infancy. On the track of privacy computing, each project has his own algorithm optimization method, but it does not span the entire technical framework. Therefore, the advantage of PlatON should be that the project started relatively early, especially in terms of private computing and secure multi-party computing. PlatON prepared and launched privacy-related products and even frameworks earlier. And in the underlying technology of the blockchain, including the innovation of consensus algorithms, formal verification, and multi-faceted performance tuning.
Fifth question
Moderator: Can you briefly talk about the economic model of the mainnet PlatON’s token LAT? For token holders, where are the main functions of tokens? What are the application scenarios?
HaoLan: There is one of PlatON’s economic design goals: “endogenously restrain the expansion of the PPoS mining pool.” PlatON hopes to curb the expansion of “super mining pools” through this “diseconomies of scale” method, so as to ensure the decentralization of the network as much as possible. At present, in other PoS projects, some “super mining pool” type nodes have appeared, so PlatON has adopted a mitigation measure: in each round of the PlatON consensus mechanism, the block reward for each block is fixed, It has nothing to do with how many LATs are locked by the verification node and its supporters. This can be regarded as diseconomies of scale in a certain sense.
PlatON, because of the randomness introduced by VRF, which candidate nodes can become such “lucky ones” is also unpredictable. In this way, on the one hand, LAT holders will spontaneously avoid the emergence of centralized voting and “large households” during the candidate node election stage. On the other hand, professional verification node operators are subject to the uncertainty brought about by VRF, and their motivation to create “super mining pools” will naturally decrease.
The application scenarios of LAT can be said to be diverse. On the one hand, it can be used to support nodes or run for nodes to obtain block rewards, staking rewards and transaction fees. In essence, this is PlatON’s staking economy activity. On the other hand, participating in PlatON’s future data and computing power circulation market, using Token as a payment medium. These two points are already very clear usage scenarios. We also believe that in the future, as the PlatON network grows, more usage scenarios will be brought to LAT.
Sixth question
Moderator: What is the relationship between PlatON and Alaya?
HaoLan: On the one hand, Alaya is PlatON’s pioneering network, sharing a common vision, compliance, financing, and community, and is responsible for technical testing, business verification, and community practice. But at the same time, Alaya and PlatON have different positioning and application scenarios. PlatON mainly focuses on a platform serving data assets + model algorithms + computing power trading. For AI, it can be understood as the human brain, and the main application scenarios are in various fields where human data is widely used, such as finance, medical treatment, and government affairs.
Alaya is positioned as the world’s leading financial public chain to reconstruct the blockchain and DeFi application system. It will mainly focus on the financial infrastructure and transaction system, facing transactions and affairs, can be understood as human hands and feet and perception systems, and will realize the reconstruction and upgrade of the financial paradigm of the existing Wall Street system. Therefore, PlatON and Alaya are mainly oriented to data applications and the other is mainly oriented to financial applications. In the future, each will have its own development model and ecological composition, which can complement each other and do not conflict.
A simple understanding can also be as follows:
· According to the PlatON Economic Blue Paper, economic parameters such as the total amount of Token and the proportion of additional issuance are different from Alaya;
· Expanded the number of candidate validators and the number of consensus nodes, revised to rank 201 (Alaya is 101) to become candidate validators, and randomly selects 43 (Alaya is 25) from them as consensus nodes each time;
· In order to increase network security and increase the cost of malicious nodes, PlatON has increased the number of zero block penalties compared to Alaya. Governable means that LAT can be used to speak.
Regarding the relationship and mutual status of Alaya and PlatON: To make an analogy: using the Chinese economy as an analogy, China’s economic development first started by building a Shekou Special Zone, and it has always existed since then. Any good policies will be tested on this experimental field. And you can think of Alaya as a test field for PlatON. Alaya can be understood as a “sandbox”, a pilot demonstration area, so its development will be faster than PlatON, experimental and pioneering. Various new features such as privacy contracts will be tested on the Alaya network first. Put it on the PlatON main network to run. PlatON also hopes to locate Alaya in the testing ground and “pioneer demonstration zone” of innovative technologies and distributed finance, while PlatON will position itself more cautiously and constructively in the true sense of “distributed economy facilities.” Focus on serving the world’s financial institutions and inclusive finance, and finally build a multi-level distributed economy ecosystem. Therefore, the community will see that Alaya’s trials are moved to PlatON after necessary changes or addition of some compliant content.
Seventh question
Moderator: Both DeFi and NFT are currently hotspots. Does PlatON have plans in these two areas?
HaoLan: Of course!
The current hot spots also represent the most abundant ecology at the moment. DeFi and NFT are also the most complex ecological applications. PlatON must provide various ecological growth soils. The core team and communities are also improving various infrastructures. And through private computing empowerment, advanced to complex advanced applications. For example, PlatON plans to use privacy calculations to confirm the right to use the NFT. For example, users can only purchase a password artwork for a period of time. Once the time has passed, you will lose ownership and only see a partial or rough concept map. This will be beneficial Digital art works with art museums. This idea currently requires a lot of front-end iterations and new protocols need to be defined. In the NFT category, on the basis of early support of NFT (Alaya is already online), the peripheral apps will be further improved. Using NFT = an indivisible portfolio of assets, artworks are only an exception, and highly complex financial applications are simultaneously promoted. Recently, in order to motivate the first batch of nodes to join the mainnet, PlatON has also issued a series of NFT commemorative medals to award winning nodes. This is also a kind of innovation and trial and error for PlatON in NTF.
For another example, the DeFi category Uniswap belongs to AMM DEX. PlatON has tested full-featured to ensure full-featured support while providing high-speed, high-efficiency, and low-cost infrastructure.
Eighth question
Moderator: Why do we think PlatON can grow up to a blockchain network with a market value of 100 billion?
HaoLan: It’s not what we said. The source of this statement comes from official internal personnel. It was confirmed by multiple channels. The official internally set the first phase goal. Hahaha~Here I would like to say a few points of our own judgment. spray.
Everyone should know that in the middle of last month of this year, Bitcoin reached a market value of US$1.2 trillion and ranked sixth in the world’s top asset rankings, second only to companies such as Apple, Microsoft, Amazon, and Google. The total market value of cryptocurrencies once exceeded $2 trillion. The height of Bitcoin may soon break through again in the second half of the year. So the market value of 5 trillion US dollars is not too far away.
Regardless of how many winds and frosts, how many ups and downs, and the lengthening cycle, the total market value of encrypted assets is always upward. 5 trillion US dollars, this bull market cannot be reached, then the next bull market will surely be reached. Bitcoin is definitely the first to arrive, but after a longer period of time, such as 10 years or 20 years, there may be multiple projects that can reach the height of 5 trillion US dollars in market value. At that time, the market value of hundreds of billions of dollars may not be so difficult and dazzling. And the projects on the TOP rankings at that time were probably not the so-called star projects now.
The second point, as mentioned earlier, our team has rich experience in privacy computing and AI-related industry, as well as blockchain industry experience. We discovered and invested in PlatON in the hustle and bustle of the 18-year bull market, among the many blockchain projects that dazzled our eyes. This goal is ambitious, stable and pragmatic, and the team composed of diversified professional elites is unique in the current and current currency circles.
The third point is that the development of blockchain in the future will never be able to gain market position only in the innovation of public chain technology. In terms of public chain technology, no project can surpass Ethereum, because its ecology is already too strong, and its theoretical research and technical research and development capabilities have long been unable to surpass. That’s why everyone sees that even if it is popular like Binance Smart Chain BSC and Huobi Heco Chain, it can only completely Fork Ethereum. As for other more public chains, such as TRON, EOS, etc., we are even less optimistic about their future. Because the competition of the public chain is not just technology, but the competition of the ecosystem, it is the competition of all aspects of comprehensive capabilities between foundations.
The PlatON team, backed by the world’s top resources, and brand appeal, their all-round comprehensive capabilities, as far as we can see, are absolutely ahead of all projects except BTC and ETH.
To say that in the next few years, which Chinese project can become famous globally, and truly stand on the TOP list of the development of the global blockchain industry, there are only a handful of them. PlatON is definitely one of them, maybe it will be in TOP 5.
The fourth point is that PlatON is not just a blockchain project, it is even the official intention to weaken the role of the blockchain. In their positioning, blockchain is just one of the technologies they use. As mentioned earlier, the blockchain under PlatON serves as the infrastructure of a distributed economy, providing payment and settlement functions.
PlatON’s vision, a private AI computing network, is the true value of PlatON. Privacy computing + AI can be applied to almost any field that requires data sharing and collaborative computing. PlatON is an infrastructure-level platform. In the future, all network behaviors of users will be carried out with the support of privacy computing technology to protect user data privacy and allow user data to flow safely and compliantly. It can be said that if there is no comprehensive popularization and application of privacy computing technology, humans cannot go further in the digital revolution.
In the past two years, our team has discussed and cooperated with many traditional enterprises and government agencies on digital economy, digitalization, and intelligent projects at different levels. Starting from the needs of all walks of life, we are confident in the application prospects of privacy computing + AI + blockchain. In addition, we have also conducted in-depth research on China’s 14th Five-Year Plan and 2035 long-term plan, and found that the digital goals mentioned in the plan have been rapidly advanced and carried out nationwide. Many of the digital projects of governments and state-owned enterprises in China require a large number of private computing + AI + blockchain technology to build. This will be a huge market. China is already far ahead of the world in the fields of digitization and intelligence.
To make a digression, I really firmly believe that this is the era of China’s national movement. China absolutely must lead the development of related technologies and applications in the world in terms of digital and intelligent related engineering and technology. So just like Huawei, there will definitely be more Chinese companies and Chinese teams that will be №1 in the world in their respective fields. This is an unstoppable trend. PlatON must be one of them, it must be the China TOP ONE of privacy computing + AI + blockchain, and the global TOP ONE.
When I say these projects and businesses that seem to have nothing to do with the public chain, I want to explain that PlatON is not a public chain project in the ordinary sense at all. It is a new huge market and track. Not only in the decentralized world, but also in the toB/toG market will explode huge commercial value.
Finally, I want to say that this field has huge market and commercial value potential in the future, and all this has just begun.
I have a partner who has a very direct and rude expression-the current LAT is 15 years of Ethereum ETH! As a relatively early Bitcoin player, he looked down on V God in 14 years and did not participate in the Ethereum ICO. Later, 15 years after the Ethereum mainnet went online, I slowly studied, experienced, discovered and understood the great value of Ethereum, and then started to get on the bus at 10 RMB. At that time, only Lao Mao and others were working hard in the industry, and the exchange also supported Ethereum in Yuncoin. It is a pity that he was not firm enough at the time. In the process of Ethereum’s growth, he was shaken off at different stages.
Since 18 years, we have discovered that PlatON, the deeper we understand, the more research and judgment we have on the future digital world, the more we are determined to the future of the track chosen by PlatON, and the more we have a deeper understanding of the PlatON team and technology and style of work. The project became more and more devoted. It’s really like going from being in love to getting married. To put it bluntly, after missing 15 years of ETH, we don’t want to miss the next LAT that will explode.
To repeat, the goal of 100 billion yuan is nothing at all. In the eyes of the government, that is only the first phase of the goal. As for how long it will take to achieve this goal, I don’t know, maybe one or two years, maybe five years, in the next bull market, hahahaha. Don’t worry about the long time, Bitcoin has only reached its current height in 12 years, and it has been nearly 6 years since the mainnet was launched in 15 years.
To be a long-termist, HODL, witness that this is the only one in China that is worth betting, worth waiting, worthy of growing together, worth helping to build and develop ecology and mutual achievement projects, PlatON brings us in return.
Ninth question
Moderator: How to get LAT? In addition to the exchange purchase, what other ways to obtain LAT?
HaoLan: The greatest significance of LAT rewards for users is to connect users and projects and create contact. For example: Participate in PlatON’s community activities before the mainnet launch, and also include offline activities to get LAT rewards, and you can get rich rewards.
After the mainnet went live, there were also activities launched one after another, and there is always a chance to keep paying attention. Join the PlatON Volunteer Program, participate in the construction of PlatON in terms of technology, community, ecology, content, testing, etc. Join the PlatON Global Community Ambassador Program to preach and introduce people around you, attract them to join, and strengthen the community of PlatON . Participate in PlatON’s Grants program and get LAT funding from the LatticeX Foundation.
In fact, to put it simply, it means to actively participate in activities. Becoming a member of the community or ecological community is likely to get LAT rewards.
Tenth question
Moderator: How can ordinary users participate in the PlatON ecosystem and how can they contribute to the PlatON ecosystem?
HaoLan: Ordinary users can participate in PlatON by participating in the ecological construction of PlatON and supporting the operation and development of the PlatON network. The methods of participation include but are not limited to:
· Become a node and get block rewards, staking rewards and transaction fees;
· Become a trustee and get commission rewards;
· Become a developer or researcher and get support from the grants project;
· Become a community builder and get support from grants project;
· Participate in the bounty project, and find bugs and suggestions for PlatON networks.
· Becoming a registered user of the PlatONWorld community and entrusting LAT to our PlatONWorld node can also be regarded as participating in the PlatON ecosystem.
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