Ana Sullivan

CyberVein (CVT Token) – What Is It and Why It Keeps Rising

by Ana Sullivan June 7, 2018

CyberVein with it’s CVT tokens is the type of platform whose main purpose is to assist the combination of public blockchains alongside private blockchains. The end goal of the project is to turn it’s platform into a service that is secure as well as functional and is able to integrate blockchain data into a standalone data-based economy. But while CyberVein aims to combine immutable, blockchain-based databases for security, storage, trading and sharing, many do seem to wonder if the platform is decentralized, will the security be strong enough for it to hold value? From what appears so far in combination with the increased interest in CyberVein may suggest an increased trust in the project, but for how long?


 

CVT Token – Recent Performance

The CVT token has had another price boost for the last 24 hours with an increase from $0.066742 all the way to $0.075766 in a staggering 12.43% price rise. The 24 h volume at the moment is holding value of just a bit below 12 million USD – a number which when compared to overal average since the token first launched back in mid-April is at it’s highest point currently. This high interest might be due to the fact that CyberVein is still new and also that CyberVein group has announced a mechanism, known as Proof of Contribution (PoC) which makes transfer of large data sets on DAG available.

 

CyberVein – Will it Go Mainstream by End of 2018?

The CyberVein network aims to handle what is shaping up to be the biggest problem right now and that is big data. They want to raise the border when it comes down to storage as well as processing needs unlike we have seen it before. To reach their end goal, the CyberVeinGroup aims to introduce a new consensus mechanism that works on it’s DAG technology which works in a more “lean” type of method that uses the Solidity language in order to decide how to process a lot of data while in the same time utilize power automatically where it’s needed.

This AI approach of how big data is handled is all fine and smart, but will it be able to hold case when it comes to the security? We have all heard of GDPR so far and we all know what are the consequences of data leaks after GDPR has come into effect and the bold claims of CyberVein group may have started to show results after all.

 

Not only this, but CyberVein also aim to combine the DAG structure, also used by IOTA and ByteBall, but build a more complicated mechanism for consensus on it. It is called Proof of Contribution and it aims to utilize the right amount of power to the specific requirements and contribution. And not only this, but the CyberVein platform is also capable of making smart contracts, VM-based operating database as well as it’s own programming language.

All of these technologies may seem like a new way of working with big data, which is an attractive investment, since companies spend billions to handle big data in a more secure manner, which may be the reason why the value of CyberVein is growing right now. But as tempting as it may seem, the project is still In early stages of development and there is a high-risk involved, and this is why we recommend that you only invest less than what you can afford to lose.

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