What is Automata Network? Information about ATA Token?

What is Automata Network?

Automata is a security protocol offering prominent services such as private RPC relay (1RPC), a blockchain-based authentication solution (2FA Guru), private token, and an NFT bridge. Users can conduct transactions privately through the products provided by the Automata Network, avoiding asset tracking and value-capturing attacks by miners (MEV).

Recently, Automata network announced a testnet version for Automata 2.0, introduced as a modular attestation layer that enhances trustworthiness for Ethereum at the machine level.

What is Automata 2.0?

Automata 2.0 is a modular attestation layer that extends machine-level trust for Ethereum and similarly for Web3. Built on hardware silicon, the application-specific rollup enables on-chain verification for out-of-protocol computation.

Ethereum serves as the base settlement layer for Automata 2.0’s attestation layer. It operates as a global verifier, anchoring a global, decentralized network of attestations occurring across both hardware and software components. There are several emerging use cases, including providing fairness and privacy to RPC relay, bundled transactions through account abstraction, block building within encrypted enclaves, and more.

Automata 2.0’s modular setup allows the attestation layer to work natively with any pre-existing rollup stack. These layers come together to introduce a novel Attestation Stack with highly configurable components. AltLayer, a leading Rollups-as-a-Service provider, supports Automata’s modular framework with its one-click rollup deployment.

Related: What is AltLayer (ALT)? Binance Launchpool’s 45th Launch

What are the highlights of Automata 2.0?

Automata 2.0 utilizes Proof of Machinehood technology:

• Modular trust: Automata 2.0 is not tied to any specific blockchain framework. The modular attestation goes beyond the limitations of separate ecosystems to improve performance, developer experience, and Web3 verification capabilities as an open platform.
• Optimistic rollups: Allowing users to submit and verify attestations in an impermissible manner. Its modular framework seamlessly integrates with the blockchain ecosystem to open up design space for Web3 applications. This includes our work with AltLayer, a leading Rollups-as-a-Service provider.
• Zero knowledge proofs (ZKP): ZKP is useful for verifying the validity of computations without knowing their inputs, while still operating on-chain and being fully verifiable. ZKP also expands the scope of computational-constrained networks by cleverly handling complex encryption principles.

What is ATA Token?

ATA Token Key Metrics

• Token Name: Automata (ATA).
• Blockchain: Ethereum.
• Standard: ERC-20.
• Address: 0xa2120b9e674d3fc3875f415a7df52e382f141225.
• Token Type: Utility, Governance.
• Total Supply: 1,000,000,000 ATA.

ATA Token Use Case

ATA is a utility token issued by the Automata platform. Some key functions of ATA include:

• Governance: ATA token holders can participate in voting for proposals, new features, and network parameters for system development.
• Mining rewards: Miners can earn ATA by running applications and performing transactions for users on the Automata network.
• Fees: Users pay storage and computational fees to miners in the form of ATA tokens.
• Geode allocation: Users can use ATA to participate in Geode auctions.

ATA Token Allocation

• Protocol Reserve: 35%
• Ecosystem, Dev Community: 30%
• Team: 15%
• Strategic Sale: 6%
• Seed Sale: 5%
• Strategic Partners, Advisors: 5%
• Binance Launchpool: 4%

ATA Token Release Schedule

The schedule for ATA token release is as follows:

Roadmap

The project will soon strive to finalize the Automata 2.0 version for mainnet deployment.

Development Team

Automata Network is built by researchers and industry veterans, with team members having previously worked at Zilliqa, LongHash, and the National University of Singapore. Established in 2019, Automata Network was a recipient of the Web3 Grant (2020) and participated in the Web 3.0 Bootcamp (2020), Berkeley Blockchain Xcelerator (2021), and was featured at Polkadot Decoded Mainstage (2021). The team’s investors include KR1, Alameda Research, IOSG Ventures, Divergence Capital, Genesis Block Ventures, and Jump Trading.

Investors and Partners

The project has received funding totaling $3.4M from investors such as Binance, KR1, Alameda Research, IOSG Ventures, Divergence Capital, Genesis Block Ventures, and Jump Trading.

Project Information

• Website: https://ata.network/
• Twitter : https://twitter.com/automatanetwork
• Discord : https://discord.gg/Us8cxTVRxG