Table of Contents
- 1 The History of Automata
- 2 What Is ATA Crypto Used For?
- 3 What Makes ATA (Automata) Unique?
- 4 Is The Automata Network Secured?
- 5 Advantages and Disadvantages of ATA Crypto
- 6 Automata Products
- 7 ATA Crypto: Key Information
- 8 What Are Automata Nodes?
- 9 ATA (Automata) Community
- 10 Conclusion
The History of Automata
ATA crypto is the utility token of the decentralized service protocol, Automata Network. This network provides a privacy layer for Dapps and is used across many blockchain technologies.
The focus of Automata Network is to tackle malicious activity and lack of transparency in privacy matters, data ownership, and censorship. It aims to pave the way for frictionless transactions, unmatched privacy, and high assurance to Web 3.0 apps and businesses around the globe.
Automata Network was founded in 2019 by a team of individuals with a deep understanding of technology and prestigious work experience at Ziliqua and The National University of Singapore. Founding members of Ziliqua, Deli Gong, and Zheng Leong Chua are co-founders of Automata Network.
With Chua’s degree in Computer Science from the National University of Singapore, and Gong’s experience working as an infrastructure lead for Ziliqua, they were the perfect match for the job.
What Is ATA Crypto Used For?
ATA tokens can be used for the following reasons:
Token holders can vote on network parameters, proposals, and platform features; this is important in a decentralized society where the community decides most network features.
Protocol fees are charged for work tasks and storage that keep the network running efficiently.
Miners are rewarded with ATA tokens when they run applications and take care of transactions for other users.
What Makes ATA (Automata) Unique?
The aim of Automata is to become the solution for privacy matters in decentralized systems and Web 3.0 applications. Right now, this middle privacy layer allows anonymous voting, do-not-track indexing, and MEV (Miner Extractable Value) Minimization. This way, users can feel safe and protected when sharing personal data such as identification and sensitive data (i.e., bank account information).
Witness, the anonymous voting service, is used on Ethereum, Binance Smart Chain, and other compatible chains. The solution offers off-chain voting and on-chain executions for different levels of privacy that range from private to public; this is, of course, based on the protocol’s requirements. Witness offers the following features:
No gas fees
Hallelujah! There are zero gas fees with Witness; this is because any voting is conducted off-chain.
Users can delegate their voting rights to different addresses across the blockchain.
Users can control privacy levels that range from private to public voting. When ‘Private Voting’ is selected, only the result of the vote is published. When ‘Public Voting’ is selected, the result and identity of the voter are revealed.
Is The Automata Network Secured?
As discussed above, the ATA token is an ERC-20 and BEP-20 token. Let’s take a look at how both of these networks provide security.
ERC-20 runs on the Ethereum blockchain, which requires miners to mine new Ether. The nodes can verify and validate transactions, which secures the Ethereum blockchain; this is known as the proof-of-work mechanism.
The Binance Smart Chain (BSC) blockchain is secured through a consensus mechanism known as the proof=of-stake. Every 24 hours, 21 validators are elected to verify and validate transactions to maintain security within the blockchain.
Advantages and Disadvantages of ATA Crypto
One advantage of ATA crypto is that it enables users to vote on essential aspects of Automata, including network parameters, platform features, and other proposals.
A disadvantage is competition from other networks that provide solutions for trust or privacy issues (like Trias, for example). With that said, if you are looking to invest in ATA, now might be a good time!
Automate products include the following:
- Ledger Plane – Automata provides interfaces for blockchains that exchange and co-operate with data in a manner deemed privacy-preserving.
- Scalable control plane – This helps govern interactions between users of the protocol and is overseen by a staking node team.
- Privacy-first cross-chain service plane – Automata provides privacy services for multiple blockchains that let users control the data.
ATA Crypto: Key Information
At the time of writing this, the token currently has a price of
$0.638201 with a 24-hour trading volume of USD 8,701,159.
What Are Automata Nodes?
When it comes to blockchain technology, nodes are used to validate and relay transactions. There are two types of nodes in the Automata Network. Let’s take a look at them.
These create an isolated environment that conceals data access patterns through multiple cutting-edge technologies.
Automata validators follow a proof-of-stake consensus mechanism that includes managing:
- Registration of nodes (staking and hosting)
- Distributing various work tasks and rewards.
- Marketplace buying and selling computing power.
ATA (Automata) Community
Automata Network aims to become the go-to privacy service for DeFi systems and Web 3.0 applications across the globe.
The current strategies include the following:
- Boosting presence by attending industry events.
- Improving the business omnichannel by monitoring each platform 24/7.
- To constantly engage with community members by providing fresh educational content frequently.
- Reaching out to members with blog posts and newsletters about recent projects and the latest developments and news.
Future strategies include the following:
- The creation of product guides and frequent updates for community members.
- Increase exposure by planning regular webinars, meet-ups, and events.
- Create positive relationships with popular media crypto outlets to accrue popularity within the media.
- Engage with appropriate influencers and investors to increase exposure and gain trust from new and regular users.
ATA cryptocurrency is the utility token of the Automata Network, a decentralized service protocol.
Automata Network aims to provide a middle privacy layer to Web 3.0 applications and other decentralized systems. It focuses on offering privacy solutions to help with the lack of transparency in privacy matters, data ownership, and censorship.
With ATA still in the beginning stages of ‘life’, it is difficult to say whether or not this is a good investment. Predictions right now may also be deemed inaccurate due to a lack of history.