What is Automata Network?

Automata Network is a decentralized service protocol that gives dApps running on several blockchains a privacy middleware layer. It is a modular attestation layer. Utilizing the most recent cryptography and privacy-preserving algorithms in conjunction with trusted execution environments, makes many privacy use cases possible, including anonymous voting and Miner Extractable Value (MEV) reduction.

How Automata Network Works:

Automata Network controls communication between protocol participants by use of a collection of stake nodes. It offers interfaces via which different blockchains may collaborate and share data on the agreed-upon set of data in an atomic and private way. Applications from Automata Network that are designed to support Web3 include do-not-track indexing, miner extractable value (MEV) reduction, and anonymous voting. With open-source code and APIs, these apps provide consumers the ability to trade securely, reclaim their identity, and give developers better building blocks.

Team:

The team behind Automata Network is made up of researchers and industry veterans who have worked at Zilliqa, LongHash, and the National University of Singapore in the past. Automata Network was established in 2019 and has already received a Web3 Grant (2020), participated in the Web 3.0 Bootcamp (2020), been selected for the Berkeley Blockchain Xcelerator (2021), and given a presentation at the Polkadot Decoded Mainstage (2021). KR1, Alameda Research, IOSG Ventures, Divergence Capital, Genesis Block Ventures, and Jump Trading are among the team's investors.

Witness:

Automata Network has Witness, an off-chain voting governance solution that allows voters to participate in governance at no gas cost without disclosing their identities. A voter may also assign their right to vote to other addresses. Witness supports other Substrate-based EVM-compatible networks, such as Ethereum and Binance Smart Chain. It has some use cases such as zero gas fees, on-chain execution, delegation, and privacy.

What are Secret Contracts?

One characteristic that sets the Automata Network apart is "secret contracts". These contracts are similar to smart contracts, but they differ significantly in that their state, input, and output are all encrypted. This indicates that all contract-related data is kept on-chain in ciphertext and is only accessible by the owner, who might be the contract or the user. The goal of this feature is to improve user security and privacy. The CosmWasm framework allows programmers to design Rust smart contracts that compile to WebAssembly (Wasm), which is used to create secret contracts.

Native Coin: $ATA

The Automata Network's native utility token is called ATA. It is used for various activities such as governance, protocol fees, mining rewards, etc.