Automata

What is Automata?

Automata is now Automata 2.0, marking the evolution of the Automata project, introducing a revolutionary modular attestation layer that conducts full on-chain attestation for out-of-protocol computation. At the heart of this innovation lies the Proof of Machinehood, establishing a decentralized network of hardware attestations globally. This architecture ensures an unbroken chain of trust throughout the Web3 stack, with Ethereum serving as the base settlement layer for Automata 2.0's attestation framework.

Modular Trust and Optimistic Rollups

The project's modular setup allows its attestation layer to seamlessly integrate with any existing rollup stack, presenting a novel Attestation Stack with highly configurable components. This approach fosters a modular trust system, with on-chain verifications signaling trust across the network. Automata 2.0 transcends the limitations of specific blockchain frameworks, enhancing the performance, developer experience, and auditability of Web3 as an open platform.

Automata 2.0 embraces optimistic rollups, extending the Ethereum way of work. Optimistic Attestation enables permissionless submission and verification of attestations, intuitively working with blockchain ecosystems to expand the design space for Web3 applications. Notably, collaboration with AltLayer, a leading Rollups-as-a-Service provider, further supports the project's modular framework.

Zero Knowledge Proofs and Proof of Machinehood

The integration of zero-knowledge proofs (ZKPs) within Automata 2.0 offers a privacy-preserving, shared notion of truth. ZKPs confirm computation validity without revealing input details, contributing to on-chain, fully auditable operations while efficiently handling complex cryptographic primitives.

Proof of Machinehood introduces a verifiable attestation, acting as a "birth certificate" for machines. This concept affirms the authenticity and inherent value of machines, validating computational capability and economic worth without excessive energy consumption or resource usage. Chip manufacturers are increasingly incorporating hardware attestations to validate the hardware's integrity, a trend that aligns with Proof of Machinehood's principles.

Use Case: TEE Prover and Automata Mempool/Block Builder

The project's use case includes TEE Prover, which enhances prover diversity through the first implementation of Intel SGX in a multi-prover system. Collaborating with Scroll, TEE Prover has successfully validated all blocks on the Scroll Sepolia testnet, demonstrating its potential for multi-prover rollups, greater resilience, and decentralization.

The Automata Mempool introduces a decentralized private mempool that directly receives user transactions, storing them securely inside an enclave. The subsequent Automata Block Builder operates within an enclave, fetching state on demand and undergoing an attestation process before encrypted communication with the mempool.

Features and Products: 1RPC and L2Faucet

Automata 2.0 introduces a range of features, including fully on-chain attestation, account abstraction through Safe integration, and a privacy-first approach. 1RPC, the first on-chain attested privacy-preserving RPC, has protected billions of requests with a shielded relay architecture, ensuring user privacy by preventing data collection.

L2Faucet, backed by Proof of Machinehood, enables users to receive tokens by attesting their devices. Supporting over 17 testnet tokens across 13 networks with a single attestation, L2Faucet promotes accessibility and provable fairness for projects or chains looking to run faucets.

Automata Team Background and Partners

Founded in 2019, Automata was established by a team of blockchain developers and researchers, boasting previous founding members of Ziliqa among its ranks. Zheng Leong Chua, one of the co-founders, holds a PhD in computer science from the National University of Singapore. The other co-founder, Deli Gong, brings prior experience from Ziliqa, where he served as the infrastructure lead.

The team, consisting of 11 individuals, has garnered recognition and support within the blockchain community. They were recipients of the Web3 Grant in 2020 and actively participated in the Web 3.0 Bootcamp the same year. Additionally, the team has been part of prestigious programs such as the Berkeley Blockchain Xcelerator in 2021 and had a prominent presence as a speaker on the Polkadot Decoded Mainstage in 2021.

Automata's journey has been backed by notable investors, including KR1, Alameda Research, IOSG Ventures, Divergence Capital, Genesis Block Ventures, and Jump Trading.

Additionally, Automata is a part of Substrate_Builders Program, Rust Foundation, Web 3.0 Bootcamp, Avengers DAO, League of Entropy, Web3 Foundation Grants Program, and more.

Project Development

Automata Network, a modular attestation layer integrating with Ethereum, collaborates with Microsoft Azure's confidential compute offerings to establish hardware-enforced trust in blockchain operations. Leveraging Microsoft Azure Attestation, Automata ensures remote attestation of Trusted Execution Environments (TEEs) like Intel® Software Guard Extensions (Intel SGX), verifying the confidential execution of software binaries on trusted hardware platforms.

The hardware-based isolation enforced by Intel SGX allows code to run securely in isolated compartments. Microsoft Azure Attestation consistently establishes trust in the TEE's state and the integrity of software within the enclave. Automata Network utilizes this technology to develop practical applications, including 1RPC, a Web3 relay with over 3.5 million monthly active users, and Proof of Machinehood, a framework verifying machines' authenticity on-chain.

Furthermore, Automata leverages Microsoft AzureAI capabilities, including Azure OpenAI Service, to develop a private chatbot utilizing advanced natural language processing for internal business support and process streamlining.

Automata Price Analysis

As of November 24 2024 Automata has a marketcap of $60M. This is {{percentagefromath}} from its all time high of $2.36. In terms of its tokenomics, there's a total supply of 1B with 54% currently outstanding. Keep in mind Automata has a fully diluted value of $112M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.