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Hello everyone, this is Cryptomoonie bringing you another Community Speaks article. For this Community Speaks article, I wanted to highlight Covalent.ai or COVA for short.
Cova is tackling the data issue surrounding users. 90% of data is stuck in data silos because of privacy concerns. But what if there was a way to release this useful information while still protecting it? Well, that’s where COVA comes in. Cova wants data to be transacted as capital. Vincent Li of Harvard and Raymond Gao from Princeton founded COVA. This dynamic duo is focused on protecting data using new technology found in the COVA ecosystem.
What does that mean?
Well, data transferred through the COVA protocol can be protected even after access has been granted. COVA powers Smart Policies which enable data owners to allow their data to be accessed and transacted while prohibiting undesirable privacy-compromising actions. By empowering data owners without sacrificing the freedom of data transfer, Smart Policies give data property rights and enable it to be transacted as capital. Smart policies are similar to smart contracts, and smart policies have data written in code that defines and enforces how it can be used.
COVA has similar features to the Banyan Network, but the main concern for COVA is to protect the data after its release from data silos. By opening up data silos to an open market of analysts that have ideas on how to exploit the data, COVA enables data owners to be compensated for their data, and allow them to regulate the types of inferences that people can make on that new found information.
COVA is powered by TEE nodes. These nodes provide the computing power needed for enforcing the trusted execution of orders. This prevents the data of users from being abused.
The COVA protocol is a four-layer solution. The first layer is the application layer, a Dapp where users can issue their smart policies for their data. The second layer is the blockchain layer, which holds the encrypted data, and smart contracts for your wallet when incentivized for your data. The third layer is the CovaCORE the protocol software where the keys are stored and the layer that has the centrifuge that separates data and where the smart policies are written. The fourth layer is the TEE gossip layer, and this is where all the computing power takes place for all the operations and smart policies.
The COVA coin/token can be traded on Bitmax, Hotbit, and Houbi Global. To learn more please visit Covalent.ai
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