CyberVein (CVT) aims to reinvent decentralized databases and the way they secure key information. CyberVein quotes themselves as “interconnecting the data that runs the world”.
CyberVein is essentially a public network of databases so information can be traded, transformed and interconnected. However, CyberVein is still yet to release any products according to their website which is one concern for the growth of the project. The white paper can be viewed at CyberVein’s website or at https://www.cybervein.org/whitepaper (18 Pages)
Databases
CyberVein aims for a network of decentralized databases which would make them the first company to manage these complex databases. CyberVein allows multiple parties to process shared databases on their network, they also have made it that nobody even in the parties can corrupt, tamper and delete these databases with processing history. Databases on the network are independent but allow users to easily connected which allows the network to become reliable.
Smart Contract Transactions
All entries on the network are stored as smart contract transactions which means the network has all previous versions at hand. CyberVein is planning on releasing an interesting feature that will allow the owners of the data to monetize it for revenue similar to the YouTube scene, where content is provided to the public if the content is valuable more users will engage so more people are reached with advertisements which mean money for the data owner.
New Blockchain Design
Blockchain technology is not designed for storing massive amounts of data in order to solve this problem CyberVein have come up with a solution in order to allow a network of decentralized databases. This is done by modifying the smart contract language so it is ideal for database management. Contracts are private this allows network congestion to not become a problem, however, these private contracts allow for communication and exchange of value and information with ease.
CyberVein claims that vast amounts of data need to be processed immutably. The competitive advantage of using CyberVein is it allows you to have an advantage over other companies such as data providers to increase the efficiency of their databases to become more efficient than competing companies. Sharing data allows for research to thrive as this allows more mass data comparison of scientific databases to allow for future development/research.
Real World Uses
Overall CyberVein (CVT) has a good concept but can they actually produce what they are aiming to complete. A sign that shows how little progress has been made, they are planning on developing an alpha version by the end of 2019, if you are wanting to make a quick profit I’d look at other options however if you are into a long-term project this looks really promising if they can actually produce a product.
