As Bitcoin continues to fall below $30k, this week it’s taken almost everything along with it. The previous week’s reigning altcoin champion Axie Infinity has begun its pullback and erases the prior week’s gains. With nothing coming even close to a 10% increase this week, DASH has run ahead with 5% gains as daily trading volume is far surpassing the project’s entire Market Capitalization this week. Showing that the big money will always find a way to turn a profit. In the meantime, It’s no fun for anyone when stablecoins make up the majority of the weekly top ten leaderboards. I hope everyone has set their stops accordingly as we move into times of uncertainty like this. Getting into our weekly review, we’ll be looking at one of Binance Launchpad’s latest projects Automata Network.
Introduction
Automata Network is a decentralized service protocol that provides a privacy middleware layer for dApps across multiple blockchains. The protocol enables several use-cases such as Anonymous Voting and Miner Extractable Value (MEV) Minimization by leveraging the latest cryptography and privacy-protecting algorithms, along with Trusted Execution Environments (TEE). Automata will provide an elastic control plane operated by a group of staking nodes, which safeguards the entire protocol and governs the interactions between various participants in the protocol. Automata Network is developing an MEV (Miner Extractable Value) minimization solution called “Conveyor”, which aims to create a front-running-free zone as it arranges transactions in a determined order. This makes it impossible for malicious actors to inject new transactions into the Conveyor output due to signature mismatch, or to delete ordered transactions, as transactions are broadcasted throughout the network. Offering platform-agnostic, anonymous voting for any DAO. Governance solution “Witness” offers voters privacy that is completely protected, down to their preference or number of votes cast. What’s cool about this is that at the same time, voting results continue to be public and held to the same rigorous standards of trust. High assurance is another thing the network is getting behind as DeFi has a huge front-running problem. With universal front-running prevention solutions easily integrated across DEXes on various protocols, this provides users with some needed and valued reassurance that transactions will be executed without the fear of front-running.
Automata works by having two types of nodes. The Automata Validator being the first becomes so by staking tokens and providing a reliable state for participants under Proof-of-Stake consensus. The second type of node is called Automata Geode. With Geode, Automata can use many cutting-edge technologies, including Oblivious RAM, to successfully create an isolated and shielded environment to conceal data access patterns, hidden even from the Geode Provider. Automata operates on four planes of operation with the Ledger, Control, Compute, and Service planes. Automata Validators and Automata Geodes make up the Ledger and interact with the remaining control, compute, and service planes. While the control plane is the coordinator to outsource tasks, distribute rewards (like gas fees) from ledger plane to compute plane, manages the registration of Automata Validator and Automata Geode with stakes, and evaluates the…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
