PlatON Network

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Discover PlatON Network's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is PlatON Network?

PlatON Network (LAT) is an open financial infrastructure aiming to become a major blockchain platform in the era of Web 3. It provides cryptography-enhanced compliant digital asset management, multi-scenario encrypted payment and settlement solutions, and a smooth user experience for various Web3 native applications. LAT is used as the payment and settlement token for online economic activities within the network.

How is PlatON Network used?

The PlatON Network (LAT) is used as the payment and settlement token for various online economic activities within the network. These activities include service and asset transactions, token transfers, and network governance. Additionally, LAT is used to pay transaction fees, which are then distributed as rewards to nodes that process and verify transactions, securing the network.

How do I store PlatON Network?

To store PlatON Network (LAT) tokens, you can use various methods:

  1. Exchanges' Wallets: You can store LAT tokens on your exchanges' wallets, such as Binance Wallet, for short-term holding. This method is convenient but less secure compared to other options.

  2. Crypto Wallets: For longer-term storage, you can use crypto wallets like Trust Wallet, which offer more security features.

  3. Cold Wallets: For maximum security, you can store LAT tokens in cold wallets, which are offline and less susceptible to hacking.

  1. ATON Wallet: The ATON Mobile Wallet is a secure and user-friendly option specifically designed for the PlatON Network. It allows you to transfer LAT tokens, view transaction history, and manage your account balance. You can create a wallet, back it up, and import wallets using keystores.

  2. PlatON Wallet: The PlatON Wallet is another option where you can store LAT and PRC20, PRC721 standard tokens. It allows you to send and receive LAT tokens and manage your assets on the PlatON blockchain.

Remember to always follow best practices for securing your wallets, such as keeping passwords and mnemonic phrases safe.

How to buy PlatON Network?

To buy PlatON Network (LAT) tokens, follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Select a reliable and trustworthy crypto exchange that supports PlatON (LAT) purchases. Consider factors such as ease of use, fee structure, and supported payment methods.
  2. Create an Account:

    • Enter the required information and set a secure password. Enable two-factor authentication (2FA) for added security.
  3. Verify Your Identity:

  • Complete Know-Your-Customer (KYC) verification, which may require varying information based on your nationality and region. This step is necessary for accessing more features and services on the platform.
  1. Add a Payment Method:

    • Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods. The required information may vary depending on your bank's security requirements.
  2. Buy PlatON (LAT):

    • If the exchange supports fiat-to-crypto purchases, you can buy LAT directly. Alternatively, purchase a popular cryptocurrency like USDT and then exchange it for LAT.
  3. Store and Manage LAT:

  • You can store LAT on the exchange's wallet or transfer it to a crypto wallet like Trust Wallet. For long-term storage, consider using a cold wallet instead of a hot wallet.
Alternative Methods
  • Crypto Wallet:

    • Select a reliable crypto wallet that supports PlatON (LAT). Download the app, create a wallet, and purchase LAT using a supported payment method. If direct fiat-to-LAT purchases are not available, you can first buy USDT and then exchange it for LAT.
  • Grants and Rewards:

    • Participate in the Grants Program supported by the LatticeX Foundation or follow community development programs to obtain LAT.
Additional Information
  • LAT Usage:

    • LAT is used for transaction fees, staking, and as a medium of exchange in the PlatON data trading market.
  • Wallet Security:

    • Always keep your wallet secure by using strong passwords, enabling 2FA, and backing up your mnemonic seed phrase or private key.
  • Transaction Tracking:

  • Use a block explorer like PlatScan to browse LAT transactions and track activities on the PlatON blockchain.

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History of PlatON Network

PlatON Network (LAT) is a digital currency that serves as the native token of the PlatON Network, a blockchain-based platform. The history of PlatON Network is not explicitly detailed in the provided sources, but it can be inferred that the project has been active for several years, given the availability of historical price data and market statistics.

Key Milestones
  • All-Time High: The LAT token reached its all-time high price of $0.89 on May 12, 2021.
  • All-Time Low: The token's all-time low price was $0.004991 on November 10, 2022.
  • Current Market Status: As of the current date, the market capitalization of PlatON Network is around $63.54 million, with a circulating supply of 5.64 billion LAT tokens.
Development and Usage

PlatON Network is built on top of blockchain technology and offers a next-generation Internet protocol centered around a privacy-preserving computation network. The LAT token plays a crucial role in the network, serving as a medium of exchange for data and computing power, fueling and securing the network through transaction fees and staking, and supporting the development of decentralized applications (DApps) and decentralized finance (DeFi) ecosystems.

Security and Management

Users can manage their LAT tokens using various wallets, such as ATON, Samurai, and Cobo, and are advised to take responsibility for their own funds by backing up mnemonic phrases and private keys securely. The security of LAT is decentralized, meaning that users must be cautious in managing their assets and choosing trustworthy exchanges.

Market Performance

The market performance of LAT has been volatile, with recent price declines and fluctuations in trading volume. Despite this, the token remains active and continues to be traded on various exchanges.

Overall, while the exact history of PlatON Network is not fully detailed, it is clear that the project has been operational for several years and continues to evolve, with a focus on decentralized applications and a strong emphasis on user security and responsibility.

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How PlatON Network works

The PlatON Network is a decentralized infrastructure protocol focused on privacy-preserving computation and distributed economies. It uses a native token called LAT, which plays a crucial role in the network's operations and security.

LAT Token

LAT is the native token of the PlatON Network. It is a digital currency that can be transferred through the network or used in applications built on PlatON. LAT does not have a hard cap and is divided into initial issuance and additional issuance. The token is used to fuel and secure the network, incentivizing nodes to process and verify transactions. LAT holders can also delegate their tokens to validators or become validators themselves, earning rewards in the process.

Consensus Mechanism

PlatON employs a Proof-of-Stake (PPoS) consensus mechanism. In this mechanism, LAT holders can participate in the validation process by delegating their tokens to alternative validator candidates. These candidates are then randomly selected to participate in the block generation and validation process, ensuring the security and decentralization of the network.

LAT Usage

LAT is used in several ways within the PlatON ecosystem:

  • Transaction Fees: A small amount of LAT is required as a fee for transferring LAT or using PlatON applications.
  • Data Trading Market: LAT is used as a medium of exchange for data and computing power within the PlatON market.
  • DApp Ecology: LAT supports the development of decentralized applications (DApps) and decentralized finance (DeFi) by requiring LAT reserves to back DApp tokens.
Wallet Management

Users can manage their LAT assets using various wallets, including ATON, Samurai, and Cobo. It is essential to keep LAT safe by using secure wallets, backing up mnemonic phrases and private keys, and being cautious when interacting with the network.

Blockchain Explorer

The PlatON blockchain explorer, PlatScan, provides real-time data on blocks, transactions, accounts, nodes, and other activities on the chain. This tool helps users track and analyze network activity.

Economic Model

The PlatON economic model is designed to incentivize participation and maintain network security. LAT holders can earn rewards by delegating their tokens or becoming validators. The model also includes a mechanism for additional LAT issuance to support the network's growth.

Development and Partnerships

PlatON has received significant funding and has partnered with several organizations, including Celer Network, to enhance its capabilities and expand its ecosystem. The project has a strong development team, including experienced professionals from the blockchain and technology industries.

Overall, the PlatON Network and its LAT token are designed to create a secure, decentralized, and efficient platform for privacy-preserving computation and distributed economies.

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PlatON Network's strengths

The token PlatON Network (LAT) has several strengths that contribute to its value and potential for investors. One of the primary advantages is its multifaceted utility within the PlatON ecosystem. LAT is used for staking, governance, trading, smart contracts, and fees for data or hashrate, making it a versatile and integral part of the network. Additionally, LAT facilitates transactions and platform access, ensuring the security of the network through staking and consensus mechanisms.

Another significant strength of LAT is its potential for high returns through staking. With staking rates reaching up to 125% APY, investors can earn substantial passive income by participating in the network's validation process. This feature attracts users seeking to maximize their returns on investment.

PlatON Network's focus on privacy-preserving technologies and secure data sharing and computation also enhances the value of LAT. The network's ability to ensure efficient resource allocation and utilization through a proof-of-stake consensus mechanism adds to its scalability and sustainability, further strengthening the token's position.

Overall, the token's diverse use cases, high staking returns, and the network's emphasis on security and scalability make LAT an attractive option for investors seeking a robust and secure cryptocurrency.

PlatON Network's risks

PlatON Network (LAT) is a cryptocurrency that operates as a payment and settlement token for various online economic activities. It is used for service and asset transactions, token transfers, and network governance.

The financial risks associated with LAT are primarily related to its market volatility and potential manipulation. According to InvestorsObserver, LAT has been given a high Risk/Reward Score, indicating that it is currently a high-risk investment. This assessment is based on the amount of money required to move the price over a 24-hour period, taking into account changes in volume and market capitalization. Lower scores on this scale indicate higher risk, while higher scores represent lower risk.

However, it is important to note that risk assessments can vary over time. For instance, a previous analysis by InvestorsObserver categorized LAT as a moderate risk investment, suggesting that the risk level can fluctuate.

Additionally, LAT offers staking opportunities, which can provide high returns, such as up to 125% APY, but these also come with inherent risks, including market downturns and potential losses.

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Did PlatON Network raise funds?

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PlatON Network’s team

  • Xiao Feng: A key team member of the PlatON Network, involved in the development and management of the project.
  • Lilin Sun: Another important team member, contributing to the strategic direction and technical implementation of the PlatON Network.
  • James Qu: A core team member, responsible for various aspects of the project, including business development and partnerships.
  • Ada Xiao: A team member focused on community engagement and growth, ensuring the network's adoption and user base expansion.
  • Xinjun Liang: A technical expert on the team, working on the development and maintenance of the PlatON Network's infrastructure.
  • Anson Zeall: The Chief Strategy Officer and Head of Ecosystem Development, overseeing the project's strategic direction and regulatory compliance.

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