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Singapore – 21 December 2018 – COVA has launched its public testnet, codenamed "COVA-Nyx". COVA-Nyx currently has 181 nodes and is able to perform around 500,000 operations per second, while Ethereum can perform around 15,000 operations per second. This makes the processing power of COVA about 30 times more powerful than that of Ethereum.
The network is decentralized and the miners are able to join freely. All relevant code was open source with AGPL v3 license. COVA is the first framework for writing scalable and privacy-sensitive smart policies, and later by DApp, using the popular Python language. COVA has the potential to significantly guide the adoption of blockchain by allowing the development of scalable DApps that preserve privacy.
Meanwhile, COVA will be listed this week on Huobi Global, one of the largest exchanges of cryptocurrencies in the world by trade volume, as a result of the highest number of votes obtained in the HuobiNext vote. The COVA token (COVA ticker symbol) will be available for trading from 15:00 on 21 December 2018 (GMT + 8). Another cryptographic exchange, BitMax.io, will also list COVA on the same day.
Currently, there are over 181 nodes and miners in the COVA network. Combined, these nodes are helping COVA to beat Ethereum in terms of processing power, thanks to the high performance and safety guarantees of the TEE network. By the end of 2019, the team expects to recruit a sufficient number of mining nodes and collectively exceed the computing power of the most powerful supercomputer on the planet.
The network status of the COVA network can be seen here: http://covalent.ai/status. The dashboard provides a comparison between the processing power of COVA and Ethereum. It also provides information on the number, the position of the miner nodes and the work in progress.
– Source: http://covalent.ai/status
While there are some TEE software offerings that try to solve problems similar to COVA, COVA-Nyx shows the unique value proposition of COVA with the implementation code to show progress that is not just on technical white papers. In addition, COVA supports some of the exclusive features:
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Framework to write privacy preserving dApps in Python
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Framework for controlling access to data applied at runtime through Python's ByteCode evaluation
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SGX native support for python complete scientific computing stack (numpy, scipy, panda, sklearn and many others)
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An easy-to-use interface for the data scientist / developer to transfer existing Python programs and machine learning models by running python natively within TEE
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Cryptographically secure key storage system using threshold encryption and TEE node routing
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Persistent and scalable TEE network with CovaCore
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Architecture and mining of TEE Computeless without authorization through useful calculations
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Scalable blockchain layer that preserves privacy by persistence
According to Vincent Li, co-founder of COVA, this test demonstrates that COVA has the potential to significantly guide the adoption of blockchain by allowing the development of scalable DApps that preserve privacy.
You can read the documentation for the public COVA testnet here.
Information on COVA
Backed by world-class institutional investors, including FBG Capital and Zhenfund, COVA is building a new paradigm for data to be used as capital. COVA implements Smart Policies, a data usage policy applicable to the machine, so that data owners are able to allow access and transaction of their data, while preventing unwanted inferences that compromise privacy. More information on www.covalent.ai.
Multimedia contacts
Wenyi Ji
COVA
Tel: +86 186 2500 4864
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