Almost everything we do nowadays we can do online. Think shopping, for example, be it through an app or a browser we can easily get what we need efficiently, reliable and without a hassle. However, there is a major concern. Privacy. I recall a few days back I had to renew my domain name. I went over to my registrar's site and under the billing section It was a surprise; my credit card from my previous transaction was saved. I don't like my credit card to be stored anywhere; What if something wrong happened? be it a hack or a bad employee?

I looked around for possible solutions to this problem and I think I can safely say or combine them into:

- Third party solutions: In this case, the user opts for a trusted third party that completes the payments. Like Paypal. However, the problem remains; what if something went wrong with Paypal? We know Paypal is quite secure but we have no idea what goes under the hood. Other payment gateways fall under this category and your data remains under their mercy.

- Bank transfers: Usually banks are safe and one way; Once you send out the fund you are basically done until you get a confirmation from the receiver. In this case, the Bank knows your details and you don't have control over what he shares with the other banks.

Notice the trend that is starting to form up? Yes…You have absolutely no control over your data. This is not only limited to financial and payment information this also extends to personal data. Like the content, you generate in social media. Social Media channels are highly centralized and you have no control over what goes under the hood. Take this news article for example (link here) where Facebook was conducting secret psychological experiments on nearly 700k users. This kind of news is what urges us to find ways to protect and control our privacy and this is where Covalent.ai shines.

Covalent.ai in layman's terms wants to make data smarter. Data that you generate should be smart enough to decide what happens with it. As you generate data you also generate a set of rules that control that data. Think of how HTTP protocol works; when data is transmitted between A and B; it is transmitted in form of packets and each packet with its own header that helps deliver the packet to its desired destination. Covalent's policy can be written in a language they called Centrifuge. The project is still progressing and is not yet in its final form however they have been quite active on various fronts starting with the testnet. I've explained how it works on a previous post. They have recently made it public. The testnet is called COVA-Nyx and can process around 500 operations per second which are around 30X what Ethereum can deliver in its current state. All of its code can be found in their GitHub page and has been written using python which allows wider adoption. It has been open sourced under the license AGPL v3.

It is also trading in two major exchanges; HUOBI and Bitmax. Both exchanges have more than 60 million in trading volume. Cova network currently has more than 90 nodes at the time of writing (at one point they were 180; so we should see an increase if the mainnet is launched). The stats of the platform can be viewed here: http://status.covalent.ai:3030/d/VI5BaaPiz/cova-network-status?refresh=15s&orgId=1





If the project caught your interest feel free to use these resource to get to know more; I've also added a phone number for one of the business/marketing team:



Technical Whitepaper: https://docsend.com/view/dvvb75n

Generic Whitepaper: https://github.com/covalent-hq/wiki/wiki

Website: http://www.covalent.ai/

Telegram Group: https://t.me/covalentofficial

Twitter: https://twitter.com/@covatoken

Medium: https://medium.com/@covatoken



Tel: +86 186 2500 4864

