What is Conscious Value Network (CVNT)?
Conscious Value Network token (CVNT) is a crypto asset that operates on the Ethereum platform. The token supports the Conscious Value Network (CVN), a blockchain-based Web 3.0 solution. The above chart indicates the live CVNT price.
CVN's goal is to create a more-resource saving and efficient decentralized storage system for its users. The protocol is designed to offer high transaction per second (TPS), scalability, and security.
CVN has adopted four-layer architecture to solve performance bottlenecks in large-scale decentralized applications (dApps):
- Basic Technology Layer – supports the underlying technical facilities of different lending applications. It is the foundation of CVN.
- Consensus Layer – consists of VRF consensus main chain and Proof-of-Spacetime (PoST) consensus distributed storage. This layer makes it more stable.
- Protocol Layer – supports contract applications. It offers significant technical support for the CVN to establish a business model.
- Application Layer – supports basic applications, enabling CVN to establish a feasible business model on the public chain.
CVN combines the VRF consensus main chain and the PoST consensus to create a more sustainable decentralized storage system. PoST offers effective data integrity verification. Besides, CVN also uses ZK Rollups and state channels to achieve low-cost and high throughput performance.
Overall, CVN offers multiple applications:
- Decentralized Storage Cloud. It provides the infrastructure for a commercial-grade blockchain. It powers the supported blockchain to respond to application scenarios such as data security, large capacity, efficient indexing, and high concurrency.
- BaaS Platform. It enables ease of use and developer friendliness, which are the core ideas of CVN.
- Lifecloud. It is a decentralized video content distribution platform operating on CVN’s decentralized storage cloud.
- Lifecloud Decentralized Identifier (DID). It offers a decentralized private personal data space for users. Data owners can store and manage their data with ease.
Use Cases of CVNT Tokens
CVNT coin is a utility asset supporting multiple activities on the Conscious Value Network. The token incentivizes content creators in the video community to produce quality content. You can stake the token and earn decent rewards for keeping the network secure. CVNT also enables users to participate in the voting process to determine the future of the project.
However, just like any other crypto asset, CVNT is volatile. Thus, its value is likely to vary frequently. You should research the CVNT price before buying the asset. The above chart shows the up-to-date Conscious Value Network price.
Who Founded Conscious Value Network?
CVN idea was born in 2017 by launching CWV mainnet. The project upgraded to Mainnet 4.0 and was officially renamed Conscious Value Network (CVN) in 2020. James Sung is the co-founder of CVN. Sung is a TV commentator and Web 3.0 strategist. His specialization also extends to consumer electronics, public relations, and marketing.
Tokenomics of CVNT
CVNT is a deflationary token with a maximum supply of 200,000,000 CVNT. The fixed price mechanism protects CVNT price, which varies according to the supply and demand forces. CVNT token distribution is as follows:
- Storage mining – 35%;
- Super node mining – 25%;
- Verifier node mining – 25%;
- Foundation and early contributors – 15%.
