Cooperation between PlatON and Polkadot Enters a New Phase with Launching of PlatDot Open Beta

SINGAPORE, April 15, 2021 /PRNewswire/ -- Recently, PlatDot, a project jointly promoted by PlatON and ChainX to realize cross-chain interoperability between PlatON and Polkadot, has officially launched its open beta. The cross-chain solution provided by PlatDot can interconnect PlatON, a global distributed privacy AI network, and Polkadot, which has advanced cross-chain technology, thereby breaking the stalemate of isolation and forging complementary interconnection for mutual prosperity.

Cooperation between PlatON and Polkadot Enters a Substantive Stage with Launching of Open Beta

After several months of intensive development, PlatDot has recently released its global open beta. PlatON, a global distributive privacy AI network, constitutes the underlying infrastructure that supports the transfer of digital and crypto assets. As a fundamental ability, the free flow of assets among chains with minimized friction now still stands as a task yet to be solved urgently.

PlatDot bridges the chains with multi-signature cross-chain technology, realizing the effective integration of the blockchain ecological needs of PlatON and Polkadot, reshaping the flow of asset transactions and value exchange between blockchain ecologies, improving the efficiency and security of cross-chain information interaction and asset transactions. It will break the shackles of value isolation in the blockchain ecosystem and continuously optimize the user experience to better support the development of the digital economy.

With the launch of PlatDot's open beta, the cooperation between PlatON and Polkadot has also entered a substantive stage. Both parties attach great importance to the core demand of circulation and value exchange of data and crypto assets. Striving for preciseness, efficiency, and perfection, they adopted an extremely fine-grained approach throughout the entire development cycle. With PlatDot serving as a bridge, PlatON and Polkadot, the two major ecosystems, can integrate and interoperate.

Continue to Deepen Cooperation to Build an Open and Inclusive Financial Infrastructure

The PlatDot project will be divided into three key stages of construction. The current stage is the first one, which has been realized on Alaya, the meta-network of PlatON. In the future, emphases will be put on privacy protection mechanism, light validators, relay communication bridge, and other technologies and functions to continuously fine-tune the product lineup, optimize the user experience and create a new driver for asset value flow.

The evolving cooperation of PlatON and Polkadot will eventually bring users a safe, transparent, and efficient asset flow experience. Users can freely exchange assets in the crypto world based on their anonymous identity on the chain, without centralized auditing and trusting third parties. With the control of assets firmly in the hands of users, fake assets can be avoided, and misappropriation and embezzlement of assets can be prevented.

Besides, the two parties will expand their collaboration mechanism in depth. With a division of labor between chains, each focuses on specialization and verticalization to serve users well with unique features. The two sides will carry out open collaboration through a cross-chain approach to fully enhance network value and synergy.

PlatON and Polkadot share the same vision with regard to open finance and believe that cross-asset based convergence will bring broader prospects for open finance applications. With the continuous and deepening cooperation between the two sides, in theory, a network can enter PlatON ecology as long as it is connected to the Polkadot, realizing the functional complementation and value exchange between the Polkadot and PlatON ecologies.

PlatON and ChainX will realize a virtuous ecological cycle based on PlatDot and build a prosperous and stable PlatON ecology together.

About PlatON

PlatON, initiated and promoted by the LatticeX Foundation, is committed to building the next-generation distributed privacy AI networks worldwide, pioneering and leading global privacy computing. PlatON has long been focused on high-performance distributed computing network with scalability and privacy protection. By building a next-generation computing system assembled by verifiable computing, secure multi-party computing, zero-knowledge proof, and homomorphic encryption, PlatON provides a public infrastructure under open-source architecture for global artificial intelligence, distributed application developers, data providers and various organizations, communities and individuals with computing needs.

About Polkadot

Polkadot is a next-generation blockchain protocol that combines multiple specialized blockchains into a single network that allows the chains to operate seamlessly and collaboratively at scale.

About ChainX

ChainX, the first project in Polkadot's ecosystem, is committed to the research and application of Bitcoin Layer 2 expansion, digital asset gateway, and will become Polkadot's second-layer relay chain, to realize cross-chain asset exchange, leading Bitcoin Cross-DeFi.

SOURCE PlatON