Covalent enables to create a completely trustless world database for the first time in the human history. Covalent brings military-grade safety protocols for everyone and boasts an extreme level of scalability through off-chain computations. While Ethereal is limited by the computational power of a single machine, Covalent is free from this limitation. Covalent brings the new trustless decentralized data layer, where any user can have access to anybody’s data without compromising privacy. This feature will inevitably attract developers and create a vast ecosystem of Covalent based DApps, triggering the birth of the new internet.
Attention. There is a risk that unverified members are not actually members of the team
Plenty of strong competitors in the intersection of AI and blockchain.
Covalent will create its own Virtual Machine where computation will be carried out off-chain by a single node, and all other nodes will only need to verify its proof of computation. There is no link to GitHub and it seems that the product development has not been started yet, only WP is available. The roadmap has not been published yet.
COVA tokens will serve as the main and only method of payments on the platform. Now, there is little information available about the token role.
The token metrics are not yet available and are to be announced.
Several funds have already invested in Covalent. The list includes Bluehill, FBG Capital, ZhenFund, NodeCapital.Covalent will issue ERC-20 tokens.
Recently, Covalent conducted 3 rounds of AirDrop. There will be a 4th round soon. More than 1.5M COVA tokens were distributed among 35K community members.
For comparison, SingularityNet raised $32M in December 2017, OceanProtocol raised $22M in March 2018. Lightstreams and ioex will only conduct their ICO's soon.
6 out of 8 team core team members do not claim Covalent as a workplace on LinkedIn. The team is scattered around several timezones and located in San-Francisco, Boston, Chicago, Princeton, and Shanghai. There are no team members with blockchain experience. The co-founder does not have business experience.
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