BitWell Institute – PlatON (LAT) Project Analysis

1. Short review of the Institute 

PlatON is a financial infrastructure based on privacy computing, which can provide privacy computing services for all kinds of business scenarios. The project was founded in 2018, jointly built by the founders of two companies, Wanxiang Blockchain and Matrix Element, both founders are from the traditional financial industry, with rich industry resumes, and the core group members have very good resumes and development experience, backed by Wanxiang Holdings, with rich market cooperation resources. The project has raised around USD 50 million and the product is iterating well.

PlatON mainly publishes privacy computing algorithms (MPC and homomorphism) through contracts, and data providers and computing nodes with privacy protection needs cooperate to execute computing protocols in order to realize collaborative computing of data, and is compatible with Ether’s EVM virtual machine, which can support Solidity language to write contracts and facilitate subsequent access to the Ether ecology. The token LAT, with an initial total of 10 billion, will be followed by block increments. The value support of LAT lies in the arithmetic settlement on PlatON, and if the network develops well in the future, the demand for arithmetic will grow gradually, which will increase the market demand for LAT.

Compared with other projects, PlatON is backed by Wanxiang Blockchain and has rich market cooperation resources, so it has a considerable advantage in the late implementation and operation of the project. In general, the projects are still in the stage of technology development, and there is still a long time before the landing, so they have future development prospects and are worthy of attention.

2. Introduction of the project

PlatON is a privacy computing and distributed economy infrastructure (commercial grade public chain) based on blockchain and cryptography technologies. It aims to facilitate the trading of data usage rights while protecting data ownership and privacy, and to establish a market for data and arithmetic power circulation based on blockchain.

PlatON focuses on the privacy computing and commercial-grade public chain track, and the core founders are Xiao Feng, chairman of Wanxiang Blockchain, Sun Lilin, founder of Matrix Element, and Zou Chuanwei, former chief economist of Bitmain.

Vitalik, the founder of Ether, is the chief scientist of Wanxiang Blockchain Lab, and Liang Xinjun, co-founder and former president of Fosun Group, serves as the chief advisor of LatticeX, PlatON’s parent foundation.

3. Token Role

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 LATs.As a payment medium, LATs are used to settle trades in the PlatON market for data and computing power. Participants in the PlatON computation network earn LATs by providing data usage, computing power, and algorithms.

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 coins collateralized by LAT.

4. Token Distribution

  • Founding Team: 20% 2,000,000,000
  • SAFT: 20% 2,000,000,000
  • Foundation: 15% 1,500,000,000
  • Ecosystem Fund: 10% 1,000,000,000
  • Academic Fund: 10% 1,000,000,000
  • Developer Fund: 10% 1,000,000,000
  • Reserved: 15% 1,500,000,000

5. Investment Institutions

WanXiang Blockchain Labs, IRISnet, Aitos.io, SNZ, ChainX, etc.

6. Basic Information

Token name: LAT

Project website: https://www.platon.network/ 

Block Query: https://scan.platon.network/