Platon Network x BDCrypto Community AMA Recap
Date: 19 October 2020
Host: Elias Hossain
Guest: Kevin Yu
INTRODUCTORY QUESTION
Elias : Please introduce yourself first and Paton to the community?
Kevin Yu: 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 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 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.
Elias : What are the advantages of PlatON to the other alternatives in the Blockchain field?
Kevin Yu: 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
Elias : Can you share the latest developments and future plans of PlatON?
Kevin Yu: 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 Q1, 2021, and enhance our community. And we are really excited to share that we will announced Alaya, our meta network on Oct.24, 2020. Just stay tuned for further updates.
Twitter Question
Elias : Question from: @cryptoenr1que A few days ago PlatOn announced that at the end of October you hope to launch the Alaya network. What role will this network play? What will be the function it will perform within your platform?
Kevin Yu: Alaya is the prototype of the next generation infrastructure for privacy-preserving computation and distributed economies that connects the distributed finance and traditional finance.
Alaya is not a test net, but an independent digital platform which shares the same underlying technologies, version and faith, while keeps different openness and liveness, and roadmaps, works, communities and governance in different stages.
Alaya will incentive the participants in different ecosystem construction events including, nodes, DApp developers, developers, partners, ambassadors, users, etc. with its native token ATP.
Elias : From: @Harsha_prabath1 Although PlatON is still in the testnet, once the mainnet goes online in the future, it will be like a never-ending machine that will continue to move forward. If PlatON encounters major incidents in the future, will PlatON have any handling or warning mechanisms?
Kevin Yu: According to the economic model, PlatON adds the randomness through VRF, use BFT and have punishment mechanism to keep the security.
Elias : From @JayRayCrypt Interested in the issue of PlatON ecosystem security. How secure is the PlatON structure, and what security measures have been taken?
Kevin Yu: 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.
Elias : From: @EgorCypto What are the criteria for becoming a validator in the PlatON chain?
Kevin Yu: As PlatON is a non-licensed blockchain project, thus literally, once you meet the requirements of runing a validator, you can be a validator.
For the details about the requirements, please refer to:
https://devdocs.platon.network/docs/en/Install_Node/
Elias : Last question from: @pr1ncesscrypto As for the flow of data, PlatON, defends the sovereignty of the same, but, if a person wishes to capitalize on his data, through PlatON, will he be able to do so? Or will his cryptographic algorithms not allow it?
Kevin Yu: PlatON is meant to maximize the value of data and turn it into cash on top of following compliance and law strictly. Through privacy-preserving computation, data assets could be priced, traded, and paid a& settled by leveraging blockchain, bringing a new era to the Internet for the upcoming whole digital world.
First of all, we aim at facilitating the development and iteration of blockchain, including the smart system, and the use cases of privacy-preserving computation in different industries. With the power combination of blockchain and privacy-preserving computation, a global-oriented data trading platform that follows the related laws and regulations strictly will be built for better flow of data.
COMMUNITY QUESTION
Question 1: Yeild farming is a new trending so do you have any plan to yeild farming system development?
Kevin Yu: We believe blockchain, for now, is meant to be the next-generation financial infrastructure. Thus, Yeild farming including DeFi must be one of the most important parts of it, and DeFi has already been one of the most important killer apps. It’s early to say that DeFi has already revolutionized the traditional system, however, it is on the way. We will invest on the development of a promising project on DeFi to extend the DeFi ecosystem of PlatON, and work with our developers on the revolution of DeFi model to have it popularized. Recently, we announced Alaya, a meta network that is for DeFi. We will invite many DeFi projects to join Alaya. Please stay tuned.
Question 2: What is your Approach to the Blockchain Trilemma?
Or the Scalability + Security + Decentralized all at the same time?
Kevin Yu: PlatON applies VRF to add the randomness, uses BFT consensus and have punishment mechanism, all of them are for the absolute security. Apart from that, PlatON uses VRF to select the validators that participate in BFT consensus in wide range, and improve the efficiency of BFT consensus at the same time. That’s the balance between centralization and scalability.
Question 3 : Instead of cake drawing on paper, investors need projects with real products and quality. What achievements has PlatON achieved to prove its products are good for users to trust to invest in the project?
Kevin Yu: After two years and half of polish, and eight months of tests, we got Alaya, a meta network of PlatON. According to the audits finished by SlowMist and Runtime Verification, PlatON ensures the absolute security and is leading on performance and security with its high-quality code. Meanwhile, our privacy-preserving computation and blockchain capabilities have been recognized by world’s first-tier companies such as Mercedez-Benz, Minsheng Life Insurance, etc.
Question 4 : Most of investor just focus on the price of token in short term instead of real value of project. Can you tell us the motivation and benefits for investors to PlatON long term?
Kevin Yu: We aim at providing the infrastructure of data circulation for the data element market in the near future by leveraging the powerful combination of blockchain and privacy-preserving computation. It requires strong privacy-preserving computation and blockchain sources and the related talents, we’ve actually stood out. Our strengths will surely get enhanced along with time.
Question 5: What are the marketing strategies of your project? What will you do so that your project will be visible in crypto field and people come to explore your project?
Kevin Yu: We promote PlatON worldwide through: 1. collaborate with different crypto communities to host diversified campaigns, 2. find and work with ambassadors worldwide to extend the awareness and recognition in their local countries.
Hi guys, a big thank you to you all. Due to the time limit, we can’t answer all questions, thus, we choose the flagship questions regarding PlatON. No worries, we will surely have ensuing events, let’s reserve the questions to the next event. Thanks!
Elias : Thank you for trusting Bdcrypto as the organizer of the event today, hopefully everyone already understand about PlatOn. I hope we can doing some collaboration or partnership in the future
Kevin Yu: Thank you very much. Looking forward to working with you again. See you next time. Good night😊
Elias : You are always welcome sir...
Kevin Yu: The event was very successful. Everyone was also very enthusiastic. Many thanks. I look forward to the next opportunity to come back here for another event.
Elias : Sure, anytime. Thanks. Have a sweet dream.
