Leading decentralized service protocol Automata Network has revealed its official launch, backed by a $1 Mln investment.
The seed funding round was co-led by several blockchains and decentralized protocol investors, along with Genesis Block Ventures, IOSG Ventures, and Sam Bankman-Fried’s Alameda Research.
Automata Network offers what it calls “middleware-like” services for DApps, assisting them to maintain privacy while permitting them frictionless integration onto platforms like Ethereum [ETH] & Polkadot [DOT].
The protocol harnesses a cryptographic scheme called “oblivious RAM” to hide data access patterns, while its privacy relayer will offer functionalities like tamper-proof data sourcing and anonymous voting.
Automata will plan to “capture an instantaneous market demand for privacy-preserving DeFi applications without having to rewrite them,” consistent with IOSG partner Xinshu Dong.