Automata Network (ATA) is a decentralized, high-performance blockchain middleware that offers companies and individuals the ability to process privacy-first, high assurance, and frictionless transactions across multiple blockchains. It comes with a supportive ecosystem, easy-to-understand smart contracts, open-source code, and customizable APIs for developers. The Automata Network offers a variety of Web3-based applications, such as Anonymous Voting, MEV reduction, and Do-not-track indexing.
The main purpose behind creating this protocol was to build a trustless and secure environment that would be conducive for all types of decentralized transactions and services. It addresses the issue of censorship, ownership, lack of transparency, and intrusion in the Web 3.0 scope.
According to their official lightpaper, Automata addresses the issue of hostile nodes having the ability to access user data in many Web 3.0 applications. The problem is compounded by the fact that data execution and storage are made public on the nodes. With this in mind, participation in blockchains or blockchain protocols will be less secure than participation in centralized institutions.
Who Are the Founders of Automata Network (ATA)?
Automata were founded in 2019 by a team of blockchain developers and researchers who are eager to bring the power of Web3 to a wider audience. They recognized that many blockchain protocols lack the required infrastructures to protect their network from malicious actors, so they created Automata — an easy-to-use network that is optimized for privacy and high performance.
Members of the team include Ziliqa’s founding members. Zheng Leong is the platform’s co-founder. He holds a Ph.D. in computer science from the National University of Singapore, and his co-founder, Deli Gong, is a former infrastructure lead at Ziliqa.
The Automata team is made up of 11 people and has won awards on various occasions. FTX CEO Sam Bankman-Fried, Divergence Capital, and many others have invested in the initiative.
What is Automata Network (ATA) used for?
Applicability and speed of DApps
Automata offer tools and infrastructure that enables developers to create Web3 DApps to compete with centralized entities.
Automata network provides interoperability across various blockchains via its cross-chain support system. It can provide its privacy features simultaneously across different blockchains.
Staking & Hosting
The Automata pay-as-you-go solution allows businesses and service providers to enjoy privacy-first services. Geode providers will be compensated for staking and hosting the Geode, while automata validators or other roles will be compensated for network maintenance.
The Automata native token ATA is the governance token of the ecosystem, and holders can create and vote on proposals, network requirements, and new developments.
Users can bond ATA tokens to participate in Geode auctions.
What Makes Automata Network (ATA) Unique?
Among the major benefits of Automata Network is its transparent and secure nature. It makes data and transactions anonymous and difficult to be tampered with. This ensures that fake data will not be passed through the system, thus ensuring a high level of security among users.
By delivering advanced privacy tools and infrastructure seamlessly, Automata Network strives to bridge the gap between decentralized, safe systems and ill-protected and/or centralized systems. It enables users to carry out transactions in a safe and well-protected environment.
Among its various applications include an anonymous voting service called Witness, which provides low-cost and unbiased off-chain voting and on-chain execution. This solution is multichain, with Binance Smart Chain, Ethereum, and other Substrate-based EVM-compatible chains supporting it.
Another solution provided by Automata is the MEV minimization engine called Conveyor. It is supported by Uniswap and many other DEXes and features low gas trading.
How Many Automata Network (ATA) Coins Are There in Circulation?
Automata Network has a circulating supply of 172 million ATA tokens. It has a maximum supply of 1 billion ATA and a market cap of $70,429,617.
How Is the Automata Network Secured?
ATA is available as an ERC-20 and BEP-20 token. It exists as an ERC-20 token on the Ethereum blockchain and is secured by Ethereum’s proof-of-work consensus mechanism, where miners are required to compete for computational power to mine a new block. The network is secured by a set of decentralized nodes and validators.
ATA exists on the Binance Smart Chain as a BEP-20 token, which is secured by the proof-of-stake mechanism. In this system, 21 validators are selected every 24 hours to validate transactions and maintain the integrity of the network. Each validator has to stake a certain amount of BNB to be eligible.
How do I buy Automata Network (ATA) Coins?
To purchase ATA tokens, use the following steps;
- Create an account with a crypto exchange platform. ATA is supported on Binance, PancakeSwapV2, and Gate.io.
- Deposit fiat into your trading account and buy ATA tokens.
Which Cryptocurrency Wallet Supports Automata Network (ATA)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Automata Network (ATA). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their ATA wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.