PlatON Network is a blockchain-based collaborative artificial intelligence network. The protocol allows developers to use open-source blockchain infrastructure in building a global market for artificial intelligence.
PlatON Network adopts modern cryptography techniques to protect users' data-ownership and privacy. For instance, the protocol integrates homomorphic encryption with secure multi-party computation to protect the privacy of input data and the computation logic. The privacy features of PlatON Network helps democratize AI and build safe artificial general intelligence for the community.
PlatON Network establishes an artificial intelligence marketplace where users can trade data assets, algorithm models and computation power. In the data trading market, the privacy-preserving computation realizes the compliance circulation of data assets globally. Besides this, PlatON Network's privacy features help AI models to establish compliant data access.
LAT is the native token of PlatON Network and serves two core functions: as a payment medium for data trading market and as a means to delegate validators of the network. LAT is used for payments in the PlatON market for data and computing power. Users can earn LAT for providing data usage, computing power and algorithms. LAT also maintains the security of PlatON Network, as the community can use LAT to delegate validators or become a validator by staking themselves.
PlatOn Network launched its mainnet in April 2021. In the near future, the protocol plans to release a privacy-preserving network and become fully compatible with Ethereum. Once the privacy-preservation technology is in place, PlatOn Network will release AI decentralized applications and a collaborative AI network.
LAT price and tokenomics
LAT is the native token of PlatON Network, and it does not have a hard cap on its supply. The initial issuance of LAT was distributed to the stakeholders of PlatON's ecosystem — namely the founding team, the PlatON Foundation, an academic fund, an ecological fund and private equity issuers. The LAT's allocation for each stakeholder is configured in the genesis block of PlatON Network.
The PlatON Network team will issue additional LAT to motivate validators in securing the network. The team issues additional LAT annually at a fixed rate of 2.5%. Of this, 2% is allocated to validator block rewards and staking rewards. The remaining 0.5% is transferred to a trust fund kept by the PlatON Foundation.
About the founders
PlatON Network was founded by Xiao Feng, who also established Fenbushi Capital and Wanxiang Blockchain Labs. Credited as the project's chief technology officer is James Qu, who previously served as executive director at Morgan Stanley.
LatticeX Foundation is the entity behind the PlatON Network, which supports in-depth research in the fields of cryptography, the internet of things and artificial intelligence. PlatON Network has partnered with smart contract auditors such as SlowMist Technology and Runtime Verification.
PlatON Network secured over $50 million in two rounds of funding from notable investors such as Hashkey Capital, Alpine Capital and Youbi Capital.
