Huge Upgrade! PlatON Privacy-preserving Computation Network Version 0.4.0 to Support Data Transaction
PlatON Privacy-preserving Computation Network Version 0.4.0 will soon be launched. Compared with Version 0.3.0, the new version features many surprising improvements, enabling the construction of a new data market that will be free, open, diversified, and prudent.
Privacy-preserving Computation Network upgrades to Datum, creating a new model for data flow and value creation
Since Version 0.3.0 (Metis0.3.0) was launched, PlatON Privacy-preserving Computation Network, centering on data, has built the prototype of a data circulation network that covers data owners, data users, algorithm developers, and arithmetic providers, with blockchain and privacy-preserving computation technology as the bridge. Version 0.4.0 will focus on the value attributes of data itself, the tradability of data assets, and privacy protection mechanisms revolving around data to build a flexible, easy-to-use data economy that shifts PlatON’s focus from “flow” to “circulation”.
To that end, the network will be upgraded from Metis to Datum, which not only indicates PlatON’s focus on data but also shows the criterion and basis that underlie the value of data. Step by step, we will build a new model of data flow and value creation and an innovative platform that turns assets into data and data into assets. Together, the model and the platform will give rise to an all-new service system, one that might reshape the operating and service model and even the ecosystem framework of the data industry.
A new paradigm of the data economy: Datum will bring smooth data transactions by introducing Data Token
The ownership confirmation and capitalization of data are essential processes for making data valuable, which turns flow into circulation. Considering this factor, Datum 0.4.0 will explore a new application model.
Datum 0.4.0 will introduce Data Token — on Metis, the use of data requires authorization; Datum, on the other hand, will rely on Data Token to enable the issuance, purchase, and consumption of data assets. More specifically, users will be able to publish metadata through the Admin console, create the corresponding Data Token, and gain liquidity from their data assets through trading platforms connected to Datum’s data market. Meanwhile, data buyers will purchase the corresponding Data Token on trading platforms and then make use of the data with the ownership they bought for purposes such as computation.
A win-win data ecosystem: Datum will enable service payments by introducing payment certificates (WLAT)
To improve the overall flexibility of the network, and to provide a channel for payment of ecosystem-based collaboration services, Datum 0.4.0 will roll out payment certificates (WLAT).
Firstly, WLAT will allow users to authorize the payment of fees involved in the execution of tasks on Datum. In addition, this new feature will also make it more flexible to settle fees concerning operations between ecosystems. On Datum 0.4.0, WLAT will be used to settle fees required for computation tasks. Moreover, the new version will add payment contracts to ensure the correct deduction of fees.
After purchasing the Data Token, data users will need to select a trusted organization on Datum and grant the organization the right to deduct WLAT after the computation task is completed.
The value of WLAT, which will function as the carrier of the billing and settlement of computation tasks on Datum, is the same as that of LAT (PlatON’s native token). On Datum, LAT will not only be applied to the PlatON ecosystem matrix but will also provide versatile services for global data markets and the PlatON ecosystem.
Complete UI improvement: Datum will offer visual, convenient user experiences
Datum 0.4.0 will improve the model for creating computation task workflows. Based on the original expert model, Datum will roll out the beginner model that will fill some of the required workflow content automatically, which will help beginners create workflows with ease.
Meanwhile, to help users who are familiar with our algorithms expand on the basis of training tasks, Datum will allow veteran users to adjust some of the algorithm variables manually concerning training tasks through the expert model.
Moreover, the visual experience will also be improved.
Datum will add a computation task slideshow to help users get a clear picture of the computation tasks they recently executed.
Datum will release Computing Power Overview and Ranking, a feature that will allow users to comprehend the operating status of the entire network.
Datum will introduce the TOP 10 ranking of Data Tokens, which clearly indicates the popularity of Data Tokens.
Finally, Datum will improve the navigation bar by adopting a more straightforward layout. In addition, a new page called Computation Service will be added to help users create workflows more accurately and quickly.
Datum V0.4.0 is all set to go, and the trial campaign will also soon kick off. Sign up for PlatON’s beta testing to try out more functions and services!