BlockTalks x CVN AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with CVN, on March 23rd at 01.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Neo Wang, Founder at CVN, so here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks
Q1. Could you please introduce CVN to our community in layman’s term?
Ans — The CVNT Conscious Value Network is dedicated to solving the problems of low performance, poor security, high development difficulty and over-reliance on fees of existing blockchain applications, enabling performance scaling and decentralized storage of distributed applications.
Compared with Filecoin, which also uses PoST consensus, CVNT’s main network was launched earlier. Currently, the block height is nearly 50 million, TPS/ CTPs are over 50,000, and the number of supernodes is 100.
Instead of Filecoin being too long and too ambitious, CVNT is focusing more on scaling up to commercial-grade decentralized applications, including integrating the required BaaS technology into the business.
Q2. What are the advantages of CVN to other alternatives in the Blockchain field?
Ans —Advantage 1: Capital strength and strong price push-up
More capital can further enhance CVNT risk resistance and project credibility. It also facilitates its expansion of the ecosystem, technology upgrades, application platform innovation as well as the development of decentralized applications. For instance, the development of lifecloud and DID privacy manage system, etc requires abundant finances to materialize Web 3.0.
Advantage 2: Value capture and decentralization.
After the “token switch” upgrade, CVNT completes the transformation from ERC 20 equity token to public chain native token. It means an occupation of the global storage setting and the creation of an economic model with value capture function. It obtains more independence and autonomy, and along with the DAO mechanism, it truly achieves decentralization.
Q3. What are the major milestones CVN achieved so far & what are in the future pipeline?
Ans — This migration and upgrade mean that CVNT has completed the conversion from ERC 20 equity tokens to public chains native tokens, and thus enjoys more independence and autonomy.
01>The upgraded CVNT pioneered the VRF+DAO consensus algorithm, opening the era of Web3.0. The VRF-based random function not only ensures the fairness of the block-producing nodes during operation, but also enables the system to defend itself when it is attacked by malicious networks which provide users with a huge security guarantee.
On this basis, the addition of DAO contract governance enables CVNT to truly implement the entire project in a decentralized manner. All project-related decisions will be jointly decided by the community, and will not be affected by any centralized organization or individual, and there is no need for any centralized organization or individual to carry out the trust endorsement of the project.
02>Decentralized storage
PoSt in superposition not only supports the traditional HTTP interface but also supports the IPFS file transfer protocol. It will work with Filecoin to support a more decentralized IPFS. Therefore, the underlying public chain of CVNT is also a distributed storage platform and enabled an economic model based on state storage.
03>Scenario Application Platform
It has improved the BaaS developer platform, and independently developed a decentralized lifecloud. This platform is based on Renren Cloud Video and supports video distribution and play. Furthermore, it has decided its first thinking principle, that is, to fulfill internet users’ need for privacy. On this basis, it has developed a DID application system to safely store people’s private data.
More details can be seen here:
https://t.co/7hHhhtcKnw?amp=1
For Q3, CVNT is committed to making the most distributed, safest and largest-scale network. The core function of CVNT is the general level blockchain distributed database cloud + baas platform, and realizes the revolutionary subversion of the traditional video network industry.
Questions Asked on Twitter For CVN Team!
Q1. What issues and products does CVN currently focus on developing? What are the technical priorities that CVN puts on top?
Ans — OK. BXH, which has launched on the Huobi Eco Chain this afternoon, is CVN’s new product.
It is an innovative Dex trading platform developed based on Huobi ECO Chain. It is a decentralized exchange with community autonomy and automatic market making (AMM) which aim to promote automatic exchange transactions of high-quality digital currencies on the HECO chain and provide liquidity for transactions on the HECO chain.
BXH is compatible with multiple smart contracts including Ethereum and ERC 20 and brings users a variety of gameplay including decentralized digital transactions, liquidity mining, and platform currency pledge dividends.
It considers the interests of users during the design of the section, so that the product can minimize the operation steps while ensuring the safety of user accounts and property.
Enlarging the income dimension and lengthening the income cycle makes it easy for users to use DAPP to obtain multiple benefits.
for Q1. It not only brings greater investment flexibility to investors, but also provides greater space for the expansion of BXH trading pairs in the future.
Q2. Can you list the outstanding features of CVN that you think are the strengths that will help CVN succeed? In the future, will the CVN token be developed with more utilities?
Ans — For the first question, CVNT is committed to making the most distributed, safest and largest-scale network.
The core function of CVNT is the general level blockchain distributed database cloud + baas platform, and realizes the revolutionary subversion of the traditional video network industry.
CVNT is an incremental market that can be created. As for how much potential energy can be generated in the short term, it mainly depends on its ability to realize smart contracts, enrich CVNT application scenarios, and attract and carry DAPP.
For the second question “In the future, will the CVN token be developed with more utilities?”, the answer is absolutely yes!
CVNT token is the value transmitter of CVNT network ecology, the proof of using RR dVod service, and the medium of value exchange with blockchain.
In fact, the market has pointed out the direction of CVNT token for everyone — the opportunity lies in good fundamentals, good liquidity of chips, large number of coin holders, and firm market consensus.
In the whole process of CVNT network evolution, CVNT plays the dual roles of settlement token and governance token.
Q3. CVNT has made groundbreaking progress with new improvements to the VRF consensus algorithm + DAO governance + decentralized storage + scenario application platform can you explain briefly what the functions and advantages of the update are?
Ans — The upgraded CVNT pioneered the VRF+DAO consensus algorithm, opening the era of Web3.0.
The VRF-based random function not only ensures the fairness of the block-producing nodes during operation, but also enables the system to defend itself when it is attacked by malicious networks which provide users with a huge security guarantee.
On this basis, the addition of DAO contract governance enables CVNT to truly implement the entire project in a decentralized manner. All project-related decisions will be jointly decided by the community, and will not be affected by any centralized organization or individual, and there is no need for any centralized organization or individual to carry out the trust endorsement of the project.
2.Decentralized storage
PoSt in superposition not only supports the traditional HTTP interface but also supports the IPFS file transfer protocol.
It will work with Filecoin to support a more decentralized IPFS. Therefore, the underlying public chain of CVNT is also a distributed storage platform and enabled an economic model based on state storage.
3. Scenario Application Platform
It has improved the BaaS developer platform, and independently developed a decentralized lifecloud. This platform is based on RR dVod and supports video distribution and play.
Furthermore, it has decided its first thinking principle, that is, to fulfill internet users’ need for privacy. On this basis, it has developed a DID application system to safely store people’s private data.
More details can be seen here:
https://t.co/7hHhhtcKnw?amp=1
Q4. After earning CVNT rewards by mining, are there other ways to increase revenue through CVNT tokens? What about the farming or staking feature, are there any future plans?
Ans —On the one hand, as a leading smart contract platform and BaaS developer tool and application platform, CVNT has better interoperability, two-tier cross-chain, self-developed decentralized applications and other solutions. It thus is armed with sustainable token premium ability.
On the other hand, the native token of CVNT is designed to represent the rights and interests to occupy the storage space for a period of time. Its practicality is similar to the storage platform site. It also has functions like currency (value transfer) and fuel (payment calculation).
Specifically, the scale of the developer community, the more users, the greater the consumption of resources, the relative project side needs more money.
When more and more users enter, application access, the demand and consumption of CVNT will be greater and greater. With the expansion of market value and deflation effect, all holders will be able to make a real, sustainable and maximum profit.
About the farming or staking feature, actually we have started mining program already. You can check here to find more infomation about it: https://techbullion.com/after-ethereum-2-0-and-defi-cvnt-creates-blockchain-upstart/
And in the future, we will start to some events with Huobi platform. Please follow our announcement channel to get the latest news about CVNT.
Q5. What is your plan for global expansion? At present, which market does #CVN focus on, or is it focused on building and growing to gain customers, users and partners?
Ans —CVNT is undoubtedly worthy of affirmation in terms of development progress. At the same time, according to the roadmap released by project 2021, the blockchain database platform, cloud development and modularization platform, and smart contract with consideration of privacy protection are steadily advancing.
From a macro perspective, the blockchain industry is constantly iterating. At present, there are opportunities everywhere in the fields of decentralized storage, DeFi, NFT and stable currency. Some vertical projects accumulated in the Internet era are also developing in a better direction. These are good signals.
At present, we have completed most of the development tasks, and then we will focus on the ecological development of the cvnt network.
For example, launch hacking activities to encourage everyone to develop innovative applications on the cvnt network. The cvnt consortium will also provide technical and financial support for these projects.
Cryptocurrency projects are ultimately a competition for capital. For ordinary people, opportunities will only appear in the earliest stage, and only when big money does not come in bulk. This is the lesson Bitcoin give to us.
The future is becoming more and more clear, and many institutional investors around me see CVNT as a rare investing opportunity.
Questions Asked by our BlockTalks Community Members during live Session to CVN Team!!
Q1. What does it mean to be a third generation blockchain? I only know of second generation.
Ans — Through this switch and upgrade, CVNT has completed the conversion from ERC 20 equity tokens to public chain native tokens, and has higher independence and autonomy. At the same time, through the concerted efforts of global technical personnel, CVNT has also made breakthrough progress on the landing of Web3.0, and completed the new upgrade of VRF consensus algorithm + DAO governance + decentralized storage + scenario application platform
VRF+DAO is a real decentralized practice that breaks through the difficult problem of blockchain Web3.0 landing.
The big waves are rushing into the sand, and the blockchain industry will coexist with opportunities and challenges in 2021. In the end, the entire market will return to the value-determining price rule. CVNT has set an example of timely change for many blockchain projects.
All projects that have the potential to illuminate the future of the industry will lead the market and will also be an important investment target for professional investors. CVNT is undoubtedly of great potential.
Q2. What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project ?
Ans — Judging from the reality of the encrypted financial market, it is more urgent to establish and improve capital replenishment mechanisms to increase capital strength. Therefore, we have reason to believe that seeking “capital increase” may be the optimal solution for the “rejuvenation” of current silent crypto assets. CVNT’s new economic model after the “token swap” upgrade this time introduces capital, absorbs multiple resources, and forms a more flexible mechanism. It will undoubtedly demonstrate the reactivation of many current “silent state” crypto assets and opens up more possibilities for crypto finance.
Judging from the information obtained so far, CVNT is the first project in the world to introduce the traditional financial “increasing capital and expanding shares” method for “coin swap” upgrade. Its brand-new economic model has laid a solid foundation for the evolution of CVNT to Web3.0, and has the following two breakthrough advantages:
Advantage 1 is capital strength and strong pull
Advantage 2 is value capture and decentralization
Q3. What is the structure of this project , is it decentralised or a open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Ans —Yes, the updated CVNT can realize fully decentralized governance.
The DAO core governance team generates incentives and punishment rules through voting to formulate strategies for community development.
In other words, CVNT DAO is a decentralized consensus “organization” led by more community leaders and high-quality nodes, which can truly identify the decisions and directions that are conducive to project development. The organization can make joint decisions, be responsible for ordinary investors, and is not affected by any decentralized institutions/individuals, and does not require any centralized institutions/individuals to endorse the trust of the project.
For investors, the adoption of DAO contracts makes the entire community governance process completely based on smart contracts. The realization of the complete transparency and traceability of the entire process effectively avoids the private fraud of the project party and greatly reduces the investment risk.
Q4. Many blockchain projects exist to sell their tokens, but not solving any real problem. What can $CVN do to solve the problem that we faced today on blockchain ecosystem? And what solution to $CVN provide?
Ans — In the entire process of value capture, CVNT governs all matters of the community through DAO contracts. This includes formulating a monetary policy to limit the growth of state storage and adjusting the strategy of charging storage state users to balance the benefits of the project’s decentralized storage cloud and user usage costs. At the same time, it can control inflation and deflation to maintain a steady rise in currency prices.
CVNT uses DAO contracts to govern the development of the entire public chain ecosystem, externally using DAO contracts to govern all matters in the community, and internally, DAO contracts will control all the work processes and code management of the “core team” development team.
Q5. Contract security is a big issue in DeFi. Has your smart contract been audited? How do you ensure the protection of users’ money so that users feel safe?
Ans — The technical advantages of its VRF consensus main chain in terms of decentralization and security include:
1> Based on the above thousands of verifiable nodes and tens of thousands of candidate verification nodes, the random function based on VRF makes the list of the next block producer unpredictable, so it will increase the complexity of the system when encountering malicious attacks on the network.
2> The degree of decentralization of the project is improved, so that the general public can truly participate in the co-construction of the system. In the process of operation, a random function is used to ensure the fairness of the nodes of block generation and the consensus of rights and interests is completed through decentralized control.
3> Provide users with a strong and verifiable guarantee that their privacy and data are under their control. That is, the information they receive, the information they provide, and the content related to payment are circulated in a trusted network.
4> That the fault tolerance achieved through PBFT realizes fast accounting and block generation at the ledger level making the main chain of the CVNT consciousness value network more efficient, stable and reliable.
We put safety-related considerations first, and CVN will do better in the future.
Here are some important links of CVN
🌎 Website: https://cvn.io/#/
