The COVAL Platform is being developed with a primary purpose of moving value using “off-chain” methods *Community managed announcement*IntroductionThe COVAL Platform is being developed with a primary purpose of moving value using “off-chain” methods. In other words, native crypto assets and tokens from other public and private blockchains (including ₡OVAL itself) enter the COVAL Network of distributed ledgers (COVAL Sidechains) where they can be flexibly and securely transacted using trustless models. Transactions consist of both individual tokens and "wallets" (containers of tokens) which are represented by sidechain assets called Emblems.
The COVAL Network is intended for apps and services built on the COVAL Platform and is considered to be a permissioned blockchain network. Though the platform is capable of reaching out and into other networks and oracles to enable interoperability and integration capabilities, the primary activity is for transacting among nodes and users within the COVAL Network and adhering to the LAW Protocol (Ledger Assigned Wallet).
The COVAL Platform and LAW Protocol involves the following general components:
- Distributed Ledger Environment (DLE)
- Secure private and public COVAL API Endpoints
- P2P secret sharing and file storage/transport (DAT Protocol)
- HD Wallet Creation Service
- Multi-Factor Authentication/Authorization (MFA)
- User devices running apps such as Emblem (mobile, desktop, web)
The COVAL Platform uses a network of blockchain ledgers. We refer to these ledgers as Sidechains since the COVAL Platform base cryptocurrency is on the Bitcoin Blockchain (Counterparty Platform) but leverages purposeful ledgers that enable core platform functionality and service integrations.
All COVAL Sidechains interoperate with each other and can also interface with other public and private blockchain networks using various methods including a continuation of the work described here as well as atomic swap methods that are becoming more common and standardized.
The Distributed Ledger Environment is tightly integrated with other Coval Services, some of which use zero knowledge Serverless Architectures.
The COVAL Platform and LAW Protocol enables value transfer by facilitating the assignment of vaults containing crypto wallets and other data to users. The vault’s contents are effectively sent to another user who would also inherit the capability to send the vault to yet another user and so on and so forth. MFA and blockchains are leveraged in this user-to-user system and no single entity or user has full control and access to the funds or files in these sendable vaults. The intended benefits of the COVAL Platform are:
- Transfer multiple types and amounts of assets and tokens in a single transaction
- Fast transactions
- Less public blockchain fees and transaction clog
- Privacy via encrypted p2p channels and transactions in a permissioned ledger network
- Uses trustless models where feasible and bank level security at minimum
- Can leverage fiat based value networks (i.e. digital gift cards)
Developers-Shannon Code-
-Unspecified LLC-
WebsitesCircuits of ValueEmblem VaultBlogMediumSocial mediaTelegram: AnnouncementsTelegram: Support chat Telegram: Community loungeTelegram: Circuit Builder discussion Official twitter of Circuits of Value Official twitter of Emblem Vault Official twitter of Shannon Code Official twitter of Unspecified LLC ExchangesSTEX (BTC-COVAL) OpenDEX Exchange (ETH-COVAL)OpenDEX Exchange (OPDEX-COVAL) c-Patex (BTC-COVAL) McAfeeDex (ETH-COVAL)ExplorerEtherscan Xchain from XCP (Old blockchain) Coin supplyCoinpaprikaCoinmarketcapCoingeckoCurrent supply: see
Etherscan.io Max total supply: 1 200 000 000 (If all XCP Covals are swapped by their owners)
BountiesNO TRANSLATION BOUNTIES
This ANN is made by a community member.
The developers are not active here. If you have questions the developer are happy to answer them in
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