PlatON is a blockchain that provides trustless computing infrastructure specifically designed for decentralized systems. It is optimized for building and scaling dapps as well as blockchain networks. PlatON was created in 2018 by Feng Xiao and has since grown to support the building of multiple technologies, including AI.
PlatON has developed a new consensus mechanism called Concurrent Byzantine Fault Tolerance (CBFT) to improve the efficiency of its blockchain network. CBFT has the ability to produce blocks continuously without waiting for the previous blocks to be confirmed. CBFT also can greatly reduce complexity in communication, thereby significantly improving block production efficiency.
PlatON also utilizes another unique consensus mechanism called Probabilistic Proof-of-Stake (PPoS). It randomly selects nodes to participate in the CBFT consensus to balance performance and the number of verified nodes. Any LAT token holder can pledge to participate in the validator, and other LAT holders can vote through delegation. Validators are randomly selected from a list of validators through Verifiable Random Function (VRF) and probability distribution. Validators take turns to become proposers to produce blocks, and other validators perform block validation.
LAT is the native cryptocurrency of the PlatON network. LAT is used to pay fees for transactions, to incentivize nodes to process and verify transactions, to pay for data and computing power in the PlatON market, and to support the development of DApps and DeFi on the network.
There is no hard cap on total supply for LAT. 3,666,885,924 LAT is in circulation.
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