What is Automata Network?
ATA token is a digital token that powers the Automata Network. If you want to see the live ATA price, check out the Automata Network price chart above. Automata is a unique privacy solution for decentralized applications (dApps). The Automata protocol uses multiple solutions to empower dApps with high-assurance, hassle-free, and decentralized transactions. In essence, the Automata Network crypto project provides the necessary features and infrastructure to ensure privacy and frictionless computing. With ATA network suit, you can transact safely on any dApp, as well as preserve your privacy and anonymity.
The Automata Network aims to make the Web 3.0 vision a reality. The main idea of Web 3.0 is to decentralize power in the governance of projects. It aims at creating a fairer space where users have control of their data and identity. For doing that, Automata offers a solution called Witness, which is a private voting solution for DAOs. The anonymous voting service enables users to create proposals and submit votes without worrying about exposed privacy. Besides, Witness doesn't have gas fees, which makes it a low-cost solution.
Moreover, the Automata Network has an MEV minimization feature that prevents anyone from viewing or influencing events on blockchain. This way, it maintains the highest level of security and privacy. In addition to that, as of writing this, Automata is developing the Librarian feature, which enables privacy for data queries on public blockchain networks.
Lastly, note that the Automata Network also has a fair launch NFT platform called NFTFair. This platform allows NFT projects to engage with the community on public blockchains without metadata query, this way maintaining the privacy of the NFT metadata.
Who Founded Automata Network?
The Automata Network crypto project is a product of the collective thought of a group of blockchain developers and researchers. The core team of the Automata Network has 11 members with a rich background in the blockchain industry. The team has won the Web3 Grant award (2020). Besides, it participated in Web 3.0 Bootcamp (2020), Polkadot Decoded Mainstage speaker (2021), and Berkeley Blockchain Xcelerator (2021). The founders of Automata are Deli Gong and Zheng Leong Chua. In the past, Gong was the infrastructure lead at Zilliqa, while Chua worked at the National University of Singapore as a researcher.
Besides, the project attracted some reputable investors. This includes Alameda Research, Binance Labs, Divergence Labs, Jump Crypto, KR1, GBV Capital, and IOSG ventures.
What Can You Do With Automata Network Tokens?
ATA tokens have two forms – one based on the ERC-20 token standard, and the other based on the BEP-20 token standard. Primarily, ATA is a governance token. Therefore, holding ATA enables users to propose and vote on various changes to the features of the Automata Network crypto project. Moreover, ATA coins are distributed as mining rewards for executing transactions on the network. Furthermore, the Automata Network token is also used to settle transaction fees. Besides that, by bonding ATA tokens, users are able to participate in Geode auctions.
Additionally, users can trade ATA tokens on various crypto exchanges. Check out the aforementioned Automata Network price chart if you're curious about the current, or the previous, ATA price.
Automata Network Tokenomics
The Automata Network tokens have a total supply of 1 billion. 5% of the total token supply was allocated for the seed sale to raise funds for the project, which resulted in raising $1 million. In addition to that, in June 2021, the project allocated 4% of the ATA token supply to the Binance Launchpool and ended up raising $2.4 million. The remaining portion of ATA tokens was dedicated to the strategic sale, the team, advisors, ecosystem, and dev community, as well as set aside at the Protocol Reserve.
The Automata Network token performed well after the launch. The performance was at its peak on January 07, 2021, when the Automata Network price reached $2.55. However, the ATA price has dropped significantly in 2022. Though it is worth noting that the entire crypto market experienced one of the longest bear markets for the better part of 2022.
