On May 15th, 2020, PlatON hosted an AMA focusing on the mutual empowerment of PlatON and privacy-preserving computation with Crypto Valley and FinNX. PlatON Chief Architect Shenglin Li and Fundamental Labs Managing Partner Howard held an deep conversation about the need and application of privacy-preserving computation.
Reasons and Logic Why Fundamental Labs Invested on PlatON?
Howard: Let me introduce Fundamental Labs briefly. Founded in 2016, Fundamental Labs is a leading blockchain fund dedicated to investing the basic revolutionary blockchain projects worldwide that are capable of reshaping the social value and economic value. So far, we have $500M management fund and invested more than 60 promising projects including Coinbase, Canaan Creative, Polkadot, PlatON, Conflux, Vechain, etc.
Our investment logic, since the very beginning, has been that we value the digital infrastructures, technology innovations and crypto finance, and mainly focus on basic blockchain protocols, trading infrastructures such as exchanges and open finance, and computing power network, etc.
We know PlatON in 2018, and are optimized about the development of PlatON serving as the next-generation computing architect that facilitates privacy-preserving computation and as world’s first operation service provider featuring complete privacy-preserving computation. PlatON is a tech-savvy and innovative project with talents who are specialized in cryptography, and engineering implementation. We admire such geek-oriented projects with technology breakthrough.
How Do You Think about the Development of Public Blockchain?
Howard: firstly, enhance the ecosystem. Ecosystem developers and DApp developers are significant to run nodes, push the interactions and governance. Plus, ensure role diversification. Besides professional node service providers, exchanges, crypto wallets, medias, users, investors, etc. are also important. Node decentralization is vital.
Can You Share More Details about PlatON Staking Ecosystem?
Shenglin Li: I totally agree with Howard’s opinion that for PoS-based projects, it’s a key to enhance the node ecosystem. PlatON values the development of staking ecosystem and the decentralization. We’ve pitched and invited world’s notable staking service providers, crypto wallets, exchanges, blockchain medias, communities, etc, to join PlatON ecosystem and enhancing PlatON new Baleyworld test net. And we are sincerely welcome more partners to join us.
As introduced before, blockchain is born to serve as a financial infrastructure dedicated to the circulation of data and assets. Data will surely be the next-generation productive factor after following land, energy, population and food, and privacy-preserving computation is just the key and a core technology for data. Obviously, privacy-preserving computation is a strategic role in the interconnected world we live in.
What Will FinNX Enjoy After Joining PlatON Validator Ecosystem?
Shenglin Li: According to PlatON economic model, FinNX will enjoy the benefits:
Block production reward: 50% bonus pool will be distributed to the validators who produce blocks;
Staking reward: the rest 50% bonus pool will be distributed for staking. All validators will enjoy the staking reward in each settlement interval;
Transaction service fees: validators who are responsible for producing blocks will get all the transaction service fees taken place in the blocks they produced;
Potential profits from being a Super Agent: we are preparing other applications, and validators could be the Super Agent of these new applications and share the profits from that.
PlatON’s bonus pool comes from the yearly additional issuing, and allowance from LatticeX Foundation by mean of locked-position in the first 10 years after the launch of PlatON main net. By doing so, the validator profits are ensured. Besides, LatticeX Foundation has sponsored 7 validators for the stability of PlatON network, and the profits from the 7 validators will come into the bonus pool for rewarding all PlatON validators.
