Another POL project Platin relevance to FOAM


#1

Stumbled upon another project on location services on blockchain called Platin. Their whitepaper contains a section about differences between FOAM and their own system. Their criticism towards FOAM doesn’t seem fair to me. Has anyone else looked at this project? It seems to me they are just throwing together bunch of buzzwordy technologies and aim to capture partnerships early on while having nothing tangible to show. Their github is practically empty. Technically it looks like their proposed system is unreasonably complex compared to FOAM. I guess this project is not relevant and won’t deliver what their wp aims to.


#2

I interviewed them on my podcast.

I broke the podcast down into two half hour episodes.

Part 1: https://podcasts.apple.com/au/podcast/lay-of-the-land/id1440442712?i=1000423284125

Part 2: https://podcasts.apple.com/au/podcast/lay-of-the-land/id1440442712#episodeGuid=Buzzsprout-851102

As far as recent news for their project; It is my understanding they may be doing some work on the EOS blockchain or possibly received a grant to do work on the EOS blockchain. You’d have to fact-check that.


#3

I would add, I had a positive experience recording a podcast with them. I found the Platin founders knowledgeable and friendly. They spoke of their support of FOAM and other PoL projects and expressed a desire to work together in the PoL space as colleagues not competitors.

I believe that kind of relationship between PoL teams is possible. PoL has a high proportion of mature, intelligent and hardworking people focused on making real progress. I’d characterise the PoL teams I’ve interviewed so far (FOAM, Platin, Helium) as more likely to collaborate than criticise.

Everyone is making great strides here and there is so much “ground to cover” in these early days, there is plenty of room for all projects to have a positive impact.


#4

i found some of the commentary in the platin whitepaper to be fluff and funny – especially in context with ‘competition’.

[fluff] They write Principal Platin Differentiators is the Platin team has “committed, tireless co-founders” :roll_eyes:

[funny] Under communications for XYO it’s labelled “hyped” versus Platin as “technical” lol.


#5

thank you for doing this.

Trying to understand the difference in all of these protocols.
Primarily in contrast with proof of origin.


#6

I’ll also add: I do not endorse any protocols. I have not inspected anyone’s code. I am not paid by anyone. I create my podcast for free.

Do your own research.


#7

It’s super important that you’re doing this so early.
My intuition tells me that they all suffer from their own weaknesses, but you’ll hear from each one that their tech is rock solid, as they explain exploits in their competitors approach.

I’m trying to build an intuition around this because my research is pointing me to a solution that secures finality at the bound witness/beacon level.


#8

Platin will be shutting down on November 1, 2019, after which all Platin services will no longer be available. This resolution is not made lightly or in haste. It comes after many months of brainstorming and careful reflection and is one of the most painful decisions we have made.

letter to platin community


#9

lmfao piece of art really


#10

lmfao piece of art really

I would be careful celebrating the demise of projects and protocols that aspire to similar goals, and were arguably farther along in the deployment cycle than FOAM is. There is a long way to go for FOAM, and keeping a close eye on their ETH multisig wallet balance produces more questions than answers.


#11

Since they have memory-holed their website, it will be difficult to argue that.
I did find a reference to their App doing a Signals Harvesting of data signals in the client’s area which seems problematic in the environment of Data Privacy and Regulations we are seeing unfold across the whole Tech industry.

FOAM in production has now:

  1. POI (through a TCR)
  2. Signals (first step to deployable hardware for dPOL)
  3. an API to access and allow third party developers to easily interface to the FOAM ecosystem.

FOAM has demonstrated a working prototype of the protocol for the needed time synchronization using actual hardware to prove that dPOL is possible with the commodity hardware they proposed in the whitepaper. The remaining step of interfacing that protocol to radio hardware needs to be performed by an Engineer with experience, and that is why I understand they brought an EE on board to perform that work.

Recent announcements have shown that FOAM is committed to building an open source and license free, hardware reference design that can be freely implemented by manufacturers.

Charitably we can say that Platin fumbled their execution and I have serious misgivings about their ‘fork of ethereum’ to enable the Platin SolidityGEO. This sort of misses the point of having a blockchain, you know, the ‘users’!. If we were honest, Platin vastly over promised on a technology platform that they were unable to launch to the MVP that would be able to give them traction.

Platin set a near impossible uphill battle for themselves by deciding on that architecture, and then they embarked on a year long timeline:

Oct 28th 2018
PTNX TGE (Generation of the PTNX token)
Dec 2018
Platin Pocket Private Beta
May 2019
Platin publishes the Platin SH Tokenomics Paper
Oct 2019
Platin PTNX token listed on exchanges

Which if I’m reading that timeline correctly, they were able to keep the doors open only long enough for a dump. But even that is unclear at this point as etherscan doesn’t list the token on ANY exchange at this time.

They talked a lot about their partnerships, it is unclear from this point, if these were strategic, or whether Platin was merely a customer of hosting, auditing etc services.

I feel bad for the ICO investors that got wrung through this one. Traction and activity never became self sustaining. To say nothing of the fact that they did not publish their contract code! That alone should have been a red flag.

When I look at FOAM I see support on at least a handful of exchanges, and healthy DEX activity! DEX is the engine of Ethereum and token dynamics going forward.

Platin may have been trying to compete in the POL space, but they were not even a serious competitor. The least I expect from technical or fundamental analysis is a better job on vetting these other projects as a whole in the future. Giving credence to poorly executing players in this space does not make us look fair, it makes us look sloppy.

Any blockchain project such as Platin that isn’t maintaining an up to date, and current public code repository is hiding something and as an investor I’m not going near such an organization.