What’s Automata (I): The Last Puzzle Piece to Web 3.0
The global Internet market may have reached tens of trillions USD, but it certainly took its time. DeFi (abbreviated for Decentralized Finance, a lego-like system of lending, payments and trading protocols built on blockchain), emerged as one of the fastest-growing sectors of the blockchain industry, recording over $43 billion in TVL just this month, and astoundingly so in less than a year.
At this juncture, persistent issues seem to suggest a reality check is due:
- Compromised privacy arising from the transparent nature of blockchain;
- High upfront opportunity costs from users’ habitual trust in legacy systems;
- Persistent friction between blockchain ecosystems crippling cross-chain interoperability
Automata Network, a decentralized service protocol with privacy-first, high-assurance and frictionless computation, was launched to bring the vision of Web 3.0 to reality in a grounded, practical manner. Built on the latest, industry-leading crypto and privacy-protection algorithms and hardware-based trust, we are making possible a variety of use-cases synonymous with the ongoing digital revolution.
We’re obsessed with privacy. Among other things, we offer platform-agnostic, anonymous voting for any DAO. In any given scenario, voters’ privacy is completely protected, down to the nitty gritty details such as their preference or number of votes casted. What’s incredible about this is that at the same time, voting results continue to be public and held to the same rigorous standards of trust. A couple of other things — end to end secret messaging flowing across different networks (and yet, we hear, so what?), and here’s what: do-not-track querying for indexers, for a start.
High assurance is another thing we are getting behind. DeFi has a front-running problem, and it is every bit as devastating as it sounds. Our universal front-running prevention solution — easily integrated across DEXes on various protocols — provides users with much-needed and valued reassurance that transactions will be executed without the fear of front-running. (We’ll be diving into this in our later pieces, so do stay tuned). Other interesting use-cases in the pipeline include tamper-proof data sourcing for oracles and robust randomness for applications.
We’re also all about nonintrusive integration, which also means frictionless computation is a key, fundamental piece of our technical infrastructure. Enabled by trusted hardware, we reduce existing inefficiencies and unnecessary redundancy in today’s applications and systems. For example, we are capable of achieving speedy cross-chains transactions or sub-second layer 2 for blockchains. This preserves an extremely high degree of compatibility and allows native blockchain applications to enjoy the benefits of Automata immediately with minimal modifications.
Automata: The last piece of the Web 3.0 puzzle
Too much to take in? Here’s the brief overview on what Automata Network is doing:
- Existing dApps can easily integrate with Automata with near-zero modification
- Has great compatibility and is not deeply coupled with one specific chain
- The privacy features we are offering are powerful, front-running prevention, anonymous voting
And of course, how do we do what we say we’re going to? Find out in our next post, where among other things we unpack Witness — our privacy-preserving off-chain voting service — in further detail.