Viewpoint |“Compliance” layout, Reasons for the price increase of LAT!

Writer: Hao Lan

The following content is a personal opinion and does not represent investment advice.

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In the early morning of June 20th, I planned to sort out the PlatONWorld column plan.

Interrupted by the news of the LAT price increase group, I wonder which predator is building a position.

As a Buddhist player, he doesn’t care about currency prices. But today’s news, I can’t help but sigh, PlatON can look forward to the future!

— — HashKey obtained a Japanese license — —

Original address:

The content of the article was announced that three companies, including HashKey and Coinbase, have obtained Japanese crypto asset-related business licenses. And link the content of each company’s profile. It is worth mentioning that JVCEA (Japan Virtual Currency Exchange Association), JVCEA is a financial commodity trading industry association certified by the Financial Services Agency of Japan, JVCEA is the official self-regulatory organization of the local cryptocurrency industry in Japan, and recruits a third company to register as Its second category of members.

I got the taste of “layout” from this news!

— —Top players on the HashKey blockchain— —

HashKey may be relatively unfamiliar to many people, which is also related to its relatively low-key style! (PlatON is also very “low-key” in China!) But for Dr. Xiao, users who are exposed to the blockchain should have heard of it. Because of Dr. Xiao’s early planning, Wanxiang Blockchain and HashKey stood on this stage at the same time.

In addition, Michel Lee, CEO of HashKey, has 25 years of investment banking experience. He has served in UBS investment banks in London, Tokyo, Beijing and Hong Kong. He has led hundreds of large-scale financing and mergers and acquisitions business projects. Most of the management team comes from UBS. Group UBS, BNP Paribas, Ant Financial, HSBC, JP Morgan Chase and other leading financial or technology companies.

In terms of business layout, Hashkey Hub is the C-end user portal for all its products. At present, the staking service provided on the Hub is provided by HashQuark, and the aggregate transaction service is provided by HashKey Trading. In the future, a new digital asset trading platform HashKey Pro and scale will be added. HashKey Capital, a multi-billion-dollar blockchain fund, is the entrance to businesses such as HashKey Capital, and the HashKey Group, which has established this blockchain ecosystem, defines itself as the “Coinbase of the East”.

HashKey is the abbreviation of HashKey Group. It has a number of products, including the blockchain portal for ordinary users-the digital asset wallet HashKey Hub, and the service provider HashQuark, which specializes in providing technical and ecological support for high-quality project staking services. HashKey Capital is a low-key but luxurious top investment institution with a management amount of over 100 million; HashKey Pro is a digital asset trading platform.

— — “The two sides” — —

In PlatON’s first round of financing, Hashkey Capital has entered the list of investors. Many people familiar with the PlatON project understand this.

In layman’s terms, it means “two sons and one father”.

Looking at this layout from a global perspective, only Wanxiang Blockchain can use such a steady pace to link each track together.

— — Foresight of “Compliance" — —

I briefly sorted out a few personal views:

First of all, the relationship between Hashkey and PlatON’s investment and the investee, and the relationship between sister companies.

For the projects you can see in the blockchain industry, either do a steady head and then tilt resources to develop sub-businesses; or after the project has selected a track, “find a father” and wait for resources to be allocated. However, there are not many companies with multi-track layouts and more flowering! Wanxiang Blockchain has such capabilities.

Second, Hashkey’s acquisition of a Japanese cryptocurrency business license means that-PlatON’s ecological partner and investor have regional compliance.

Once the LAT/JPY trading pair is opened, what is the concept? Just like opening an account with a Chinese aunt to buy the new third board, a large number of users will come into contact with LAT. This is the impact of compliance.

In addition, Hashkey’s next series of play styles will all have the opportunity to connect with the PlatON project, such as DeFi.

Third, PlatON will focus on overseas markets, and Japan will be one of the important markets for compliance development.

Many Chinese community users do not understand the PlatON project’s vision and approach to compliance. Therefore, after the PlatON mainnet went live, community users have certain doubts about the currency price and the popularity of the project. However, from the perspective of compliance requirements, overseas markets for compliant trading of encrypted assets will be the basis for the outbreak of the PlatON project. So the next compliance road is still very long, but it is worth sticking to.

— — Extended Reading-Privacy DEX — —

The decentralized exchange (DEX) will be the most important infrastructure of the blockchain ecology, and it will also be the next explosive point for the application of blockchain technology.

Here, I quoted some of LoopRing’s points of view to provide you with expanded reading, and pay attention to PlatON and Hashkey’s next cooperation methods and possibilities.

Quotation is a condensed part, please refer to it for complete reading. Portal

There are three technical stages that DEX has gone through. It is believed that PlatON and Hashkey will spark off in the third stage.

| The first stage

*Visual representation of the first stage technology (where the box represents the public chain, and the asterisk represents all DEX logic)

The technology of the first stage has several characteristics. First of all it is very simple. EtherDelta on Ethereum is a representative of this technology, and its main contract only has more than 300 lines of code. In addition, it does not have any off-chain system to assist, all logic runs on the blockchain, so it is the same degree of decentralization as the Ethereum main network, and its security is also highly consistent with that of Ethereum (the premise is smart The contract has no security loopholes). In addition, it has a theoretical advantage, that is, it can converge all the liquidity of the entire network. But in practical applications, this advantage is actually on paper and is completely useless.

The fatal disadvantage of the first-stage technology is that the throughput is too low and the cost is too high. The reason is obvious: every time an order is submitted and cancelled, an Ethereum transaction is consumed. In the transaction where the order is submitted, the order matching is also triggered. If the order happens to match one or more opponent orders, clear settlement, record the transaction history, and make internal transfers; if the order cannot match any opponent orders, the order needs to be written into the order book. In short, there is too much logic at the smart contract level, and any contract code optimization is a drop in the bucket.

| The second stage

*The visual representation of the second stage technology (the double arrow represents the clearing and settlement, and the circle represents the off-chain relay system)

The DEX product of the second stage can still collect all orders of the entire network in theory, but because the management and matching of orders is done in a centralized system, it is no longer a “decentralized” exchange. However, developers and communities still classify this technology as a decentralized technology. There are two main reasons. The first is that the assets that users trade are still in the users’ own addresses. Therefore, from the perspective of asset security, It is still “decentralized”, which is consistent with the security of Ethereum; the second is that user orders can be matched by multiple relays at the same time, so liquidity can be shared in a decentralized manner. A more accurate description of the technology and products at this stage should be the “non-custodial centralized exchange” technology. But no one in the industry is entangled in this point, not to mention that from a market perspective, continuous use of the same term is easier to be accepted by non-technical communities.

| The third stage

*Visual representation of the third stage technology (where P stands for trusted computing proof, and tree stands for the state tree of the world outside the chain)

A core subtext of the third stage technology is “trusted computing.”

There is actually no strict definition of “trusted computing” here. LoopRing wants to emphasize a key point of the third-stage technology through this relatively easy-to-understand concept. At present, it seems that there are two main ways to realize trusted computing: the first is to use the trusted computing environment (Trusted Execution Environment, or TEE, sometimes called Enclave) in the CPU through hardware. This implementation is essentially based on the chain of trust, and the top of the chain of trust is the manufacturer of the CPU. The second is through zero-knowledge proofs (Zero-Knowledge Proofs, or ZKP), namely ZK Rollup. This is a technical method based on mathematics that does not require trust.

— — End of sentence — —

Seeing this, if you continue to pay attention to the PlatON project, will there be a feeling of deja vu? I will not overly describe the technical solution of DEX, because I am still learning, and I will share with you when I have experience in the future.

I also noticed a PlatON enthusiast in the group, who compiled a list of the current private track projects on the market, and also reprinted it at the end of this article. Thanks to this user for sharing the sorted content to the PlatON Chinese community.

*Chart source from PlatON Chinese Community


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— — HashKey obtained a Japanese license — —

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