CyberVeinCVT#554

Launched in 2018, CyberVein (CVT) is the native Ethereum-based token for a universal network of decentralised databases based on a directed acyclic graph. As the first distributed ledger system allowing datasets on the blockchain itself to be managed without centralised storage providers, its information can be freely traded, transformed and interconnected. Allowing multiple parties to process shared, distributed databases, CyberVein protects data from tampering just like transactions on a blockchain are kept immutable. That makes it impossible for CyberVein’s data to be corrupted or edited, keeping user trust high and information transparent. A reliable network of authenticated information is possible because, while databases are independent, CyberVein’s promise of immutability allows them to be interconnected, referenced and therefore confidently monetised. CyberVein’s Proof-of-contribution consensus algorithm ‘measures the amount of disk-space a node donates to store parts of the ledger’s transaction history (or ledger “shards”), and compensates accordingly’. The system conserves resources, using disk space the same way Proof-of-work uses CPU resources to make attacks both costly and largely unfeasible by out-competing other nodes.