Automata Network FAQ (15 Sept 2021)
Automata Network Community Updated: September 15, 2021, Original Document:What is Automata Network?
Automata Network is a decentralized service protocol that provides a privacy middleware layer for dApps across multiple blockchains.
It enables several privacy use-cases such as Anonymous Voting and Miner Extractable Value (MEV) minimization by leveraging on the latest cryptography and privacy-preserving algorithms, along with trusted execution environments.
Automata Network is built by industry veterans and researchers, with team members having previously worked at Zilliqa, LongHash, and the National University of Singapore. Founded in 2019, Automata Network is a recipient of Web3 Grant (2020), and a participant of the Web 3.0 Bootcamp (2020), Berkeley Blockchain Xcelerator (2021), and presented at the Polkadot Decoded Mainstage (2021). The team’s investors include KR1, Alameda Research, IOSG Ventures, Divergence Capital, Genesis Block Ventures, and Jump Trading.
What problems does Automata solve?
Automata solves several problems currently facing the Defi community relating to privacy, stopping it from reaching its full potential by providing a privacy middleware layer for dApps across multiple blockchains.
Each specific product by Automata is attempting to solve a unique set of problems facing the Defi space.
Conveyor minimizes the rampant MEV & frontrunning issue plaguing most DeFi projects resulting in high slippage and inflated gas fees for crypto investors exploited by bad actors in the blockchain.
Automata Witness is a customizable voting service for decentralized applications and solves many issues facing governance voting services, including privacy and high gas fees.
For more detailed information on the problems Automata is solving, check out the open-sourced Mev Wiki, which goes into more detail.
What products are offered by Automata?
Currently, there are three unique products offered by Automata, Conveyor (a MEV Minimization solution), Witness (a customizable voting service for decentralized applications) and Librarian (Do not track indexing).
What exactly is Witness?
Automata Witness is a customizable voting mechanism for decentralized applications (with privacy features) across various blockchains.
Automata Witness has three main features; Privacy (where the project owner can choose the level of privacy that is desired), Low-Cost (as the voting occurs off-chain then there is no gas fee) and Chainhook (Trigger on-chain execution based on the voting results). It must also be noted that Witness includes the feature to be modified to the project owner’s preference, with each previous feature being able to be used individually or in combination with another.
Automata Witness is currently in open beta, and you can now give it a go by following our developer preview at https://witness.ata.network/. You could also use this Youtube guide to learn more about navigating the demo.
Please note that the preview demo is not meant for production and does not represent the final product.
Currently, Witness supports several different platforms, including Etherum (Mainnet, Kovan Testnet), Binance Smart Chain (Mainnet, Testnet), Polygon and many more.
For the complete list of currently supported platforms and more detailed information about Automata Witness, please examine this document (https://docs.ata.network/witness/introduction/).
What exactly is Conveyor?
Conveyor is a MEV Minimization solution that aims to create a front-running-free zone as it arranges transactions in a determined order and thus makes it impossible for malicious actors to:
(1) inject new transactions into its output due to signature mismatch or to
(2) delete ordered transactions, as transactions are broadcasted throughout the network.
Anti-front-running: No front-running transactions on the trading pairs that support Conveyor.
Privacy on ordering: Transaction order is not revealed unless it is determined and unalterable. No one, including the hosting nodes, will know the ordering before it’s decided.
The development of Conveyor is currently in the private beta stage. However, stay tuned for further updates.
What exactly is Librarian?
Librarian serves as a privacy solution for decentralised databases , where it provides no-tracking data indexing and queries for blockchain users and developers from various data providers.
This prevents bad actors from exploiting the transparency of public blockchains, gathering sensitive information that can compromise their identity and security.
Note: Librarian is still currently being developed. More information will be revealed soon.
When is Automata Mainnet going to launch?
The aim is to launch the Mainnet of Automata network by the end of Q3 2021. However, this is subject to change, so stay tuned for further updates.
What is the native token of Automata and what is the purpose of it?
The native token of Automata is $ATA and it is used in the network's proof of stake blockchain as payment for gas fees, staking and compute rewards, geode auctions and governance voting.
What are $ATA Tokenomics?
The Tokenomics of $ATA can be seen in the graphics below, with one graphic outlining the distribution of $ATA and the other outlining the release schedule of the tokens. There is a max circulating supply of 1 billion $ATA.
Is $ATA currently available, and if so where is it listed?
Yes, $ATA is currently available from several different exchanges, including Binance, Pancake Swap, Indodax and Gate.io and more!
Can you stake $ATA?
Currently the only way to stake ATA is through Pancake Swap where you can stake ATA in a LP pool with BNB. However, stay tuned for future possible ways to stake ATA, including through a validator when the Mainnet is launched.
Will there be burning of $ATA tokens?
Currently, there are no plans for token burning. We will post updates on all our socials if there are any.
What is the $ATA contract address?
- ERC20 - 0xA2120b9e674d3fC3875f415A7DF52e382F141225
- BEP20 - 0xA2120b9e674d3fC3875f415A7DF52e382F141225
What's the difference between ATA and its competitors?
Many other projects are attempting to solve the same problems Automata is trying to solve. However, compared to the existing approaches, Automata is the first system to provide privacy-first features for both compute and storage planes, which is also frontrunning-resistant and can be seen to have the highest level of privacy in comparison.
For a detailed explanation of why Automata has a level up on its competitors, check out our Litepaper, where we go into further detail and compare between Automata and other projects.
Where can I read more on Automata Network?
Official Links
- Website: ata.network
- Whitepaper: xata.to/lightpaper
- GitHub: xata.to/github
- Documentation: docs.ata.network
Official Socials
- Telegram: xata.to/telegram
- Twitter: xata.to/twitter
- Discord: xata.to/discord
Other useful links
- Coinmarketcap article: https://coinmarketcap.com/alexandria/article/what-is-automata-network-ata-features-tokenomics-and-price-prediction#toc-use-cases-of-automata-network-ata-tokens
- Binance research report: https://research.binance.com/en/projects/automata-network
- Binance annoucement: https://www.binance.com/en/support/announcement/aff3429ff6c74775b4e20fc23377f142
Created by: Anton & John (Automata Network Community Managers, 15 Sept 2021)