PlatOn (TBA) Computing Network - ICO Review, Rating and Details of PlatOn ICO (Token Sale) - Rating: Not Rated

PlatON is the next-generation global computing network and public infrastructure in the new digital age include: Computing Factory, Service Marketplace, Super Clearing House, Privacy Protector.

PlatON technology is designed to be the next generation trustless computing network with off-chain privacy-preserving algorithms to enable secure multiparty collaboration. The two Key pieces of technology it emphasizes on are verifiable computation and privacy-preserving computation.

Problems & Solutions

The scalability issue of blockchain is intrinsic to the consensus algorithm that it relies on to validate transaction or computation in a trustless way. The more nodes participate in replicating a single computation, the more confidence is bestowed on the correctness of the results. However, the time to consensus and resources committed on the work increase drastically with the number of nodes prohibiting blockchain being adopted in a large scale. The flipside is consensus is not the essence of blockchain’s appeal but the trustless feature which can be attained cryptographically.

Verifiable computation (VC) is originally a scheme enabling a client or verifier to verify the correctness of the results computed by an untrusted cloud provider. The computing party is responsible to conjure a cryptographic proof for the verifier to easily evaluate the correctness of the output. Compared to consensus algorithm, VC, in theory, guarantees correctness without replicated computation, tremendously reduces the time and cost otherwise consumed in running thousands of nodes and synchronizing them for block production. In most circumstances, VC can potentially be the more efficient infrastructure for smart contract execution and diminish the role of blockchain to a tamper-free database for the storage and public access of proofs.

PlatON uses VC to achieve scalability, verifiability and privacy in trustless computing. The proprietary technology developed by the team in the past few years further reduces the overhead time and resources for the prover by several magnitude turning it into a more practical solution for general trustless computing. Moreover, as privacy is concerned in many trustless computing cases, secure multi-party computation (MPC) and homomorphic encryption (HE) are employed to prevent exposure throughout the entire lifetime of the data. The goal of PlatON is to construct a full stack infrastructure for decentralized apps, while individual module such as VC will be available to connect other blockchains to PlatON for scalable and privacy-preserving computing.

Features & Highlights

On top of the trustless computing platform, PlatON deploys its own blockchain as an immutable database to store states and proofs. The blockchain will also be used as a settlement layer to facilitate transactions and to incentivize participation as computing nodes and verification nodes. The main features of the blockchain are described below.

  • Appchains can be created by sharding specifically to serve diverse applications.

  • Energon is the native digital asset on PlatON to support all economic activities especially purchasing large scale computing service. This digital asset will be used as the basic unit for computing power and main form of payment.

  • Smart contract is available on the base chain to provide diverse data service to dapps or other blockchain.

Roadmap & Updates

Phase 1: Dawn

  • Q4 2018 -  Baleyworld
    • Launch a test version as an MVP (Minimum Viable Product).
    • Launch PlatON client.
  • Q3 2019 - Trantor
    • PlatON primary network goes live, with complete MPC, VC and Giskard.

Phase 2: Sail-out

  • Q4 2019 - Terminus
    • Launch a version enable parallel computing.
  • Q2 2020 - Gaea
    • Launch a computing specific hardware.
    • Fully support the co-evolution of hardware and software for the future computing world.

Team Members

  • Feng Xiao, Founder. Ph.D. in Economics, Nankai University. Founder of Wanxiang Blockchain Labs. Founder and investor of Fenbushi Capital. Chairman of Wanxiang Blockchain Inc.

  • Lilin Sun, Founder. Master, Wuhan University. Bachelor, Beihang University. Founder and CEO of JUZIX. Founder of BCOS open source blockchain project.

  • Xinjun Liang, Chief Advisor. Fudan University, Bachelor in Genetic Engineering. Cheung Kong Graduate School of Business, Master in Business Administration Arizona State University, PhD in Business Administration. Mr. Liang is currently the Chairman of XIN Family. He and his family office are specialized in the investment in blockchain, AI and other cutting-edge technologies worldwide. Mr. Liang is the Co-founder of Fosun Group, and served as the CEO and the Vice President until march 2017.

  • Shenglin Li, Chief Architect. Bachelor/Master, Beihang University. Co-architect of BCOS open source blockchain project. Senior System Architecture Specialist in distributed computing for Aspire Digital and China Telecommunications Research Institute.

  • Debiao He, Chief Cryptography Scientist. Ph.D., School of Mathematics and Statistics, Wuhan University. Professor, School of Cyber Science and Engineering, Wuhan University.

  • Ada Xiao, Chief Strategy Officer. MBA, Columbia Business School. Bachelor, Trinity College, Cambridge, UK. Worked at Fenbushi Capital. Responsible for Asia-Pacific blockchain technology investments and partnerships.

  • James Qu, Chief Technology Officer. Bachelor, Beihang University. Co-founder as well as joint CEO and COO of Shanghai Genus. Worked for Morgan-Stanley as ED and UBS Securities as AD.

  • Leo Lin, Chief Innovation Officer. Zhejiang University, Electrical Engineering, Bachelor. China Europe International Business School (CEIBS), EMBA. United Business Institutes, DBA (Doctor of Business Administrator) Candidate. Founder & CEO of aitos.io.

  • Tom Tang, Chief Investment Officer. Former Alibaba Investment Director, System Architect. Baidu Mobile Systems Department Architect. Motorola System Architect. Tsinghua Tongfang department manager.

  • David Zou, Chief Economist. Peking University,B.A. in Statistics and M.A. in Economics. Graduate School of People’s Bank of China (Now PBC School of Finance, Tsinghua University), Ph.D. in Economics. Harvard University, Harvard Kennedy School, Mid-career MPA (Mason program). Associate Research Fellow of People’s Bank of China since 2014. Former Chief Economist of Bitmain. Founding Partner of Nanhu Financial Corporation. Former Senior Vice President of China Investment Corporation.

  • Jason Qiao, Chief Ecosystem Officer. M.S., The University of Chicago. Former Executive Director of J.P.Morgan Asset Management. Head of Portfolio Construction and Quant Strategy for Specialized Strategy Team of Private Bank in NYC, sitting as member of the Investment Committee.

  • Xiang Xie, Algorithm Scientist. Ph.D., Trusted Computing and Information Assurance Laboratory, Institute of Software, Chinese Academy of Sciences. Served at Wireless Security Solutions Design Department in Huawei.

  • Jonathan Shelon, Advisor. Chief Operating Officer, Kraneshares. Portfolio Manager, Fidelity Investments. Chief Investment Officer, Specialized Strategies Team, J.P.Morgan.

  • David Johnston, Advisor. Managing Director, Yeoman's Capital. Founder of Factom.

Partnership Overview

  • aitos.io - aitos.io builds trusted identity authentication and privacy-preserving data computation solution for the enterprises of AIoT.

  • Bytom - Bytom Blockchain Protocol is an interactive protocol of multiple byteassets. Heterogeneous byte-assets that operate in different forms on the Bytom Blockchain.

  • HashKey - HashKey Digital Asset Group is a digital asset fintech company headquartered in Hong Kong, led by executives with expertise in asset management, securities regulation, blockchain, banking, compliance, software and technology development, and research.

  • HashQuark - HashQuark is a new generation of blockchain mining pool which remains focused on PoS, DPoS, and other consensus mechanisms.

  • IRIS Network - Technology foundation to facilitate easy construction of distributed business applications, enable integration and interoperablity of business services offered by heterogeneous blockchains including public chains as well as consortium chains.

  • KEYSTORE - Institutional-grade crypto asset solutions. Dedicated to provide secure, professional, efficient crypto asset management services.

  • Plug and Play China - One of the biggest tech accelerators globally.

  • Real ID - Powered by blockchain, facial recognition/artificial intelligence and machine learning technologies, Real ID's business eKYC and consumer mobile app solutions allow fast, simple and secure digital identity transaction and verification for everyday service onboarding.

  • Wanxiang Blockchain Labs - Funded by China Wanxiang Holdings, Wanxiang Blockchain Labs is a non-profit research institution focusing on Blockchain technology.

  • Wanxiang Blockchain - Beginning in 2015, China Wanxiang Holding Co., Ltd. started a strategic layout in the blockchain industry, and was deeply engaged in this field ever since. By now Wanxiang Blockchain has already built anecosystem that is consisted of Wanxiang Blockchain Labs, Wanxiang Blockchain Business ConsultingService, Wanxiang Chainbase Accelerator, and Wancloud.

  • Youbi Capital - Youbi Capital is a private equity fund registered in the Cayman Islands. Founded by senior Wall Street professional investors, the world's top BTC mining pool owner, and veteran crypto currency investment experts, Youbi focuse on investing in overseas blockchain projects.Youbi Capital is committed to long-term value investment in the blockchain ecosystem.

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