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Covalent ICO Overview
The Covalent ICO and COVA badge auction are adopting funds to barrage a privacy-protected, decentralized accretion belvedere and protocol. To optimize scalability, Covalent leverages trusted accouterments enclaves to move abstracts ciphering offchain. Network nodes serve to collectively verify after-effects of the offchain ciphering already a assignment is accomplished and submitted to the chain.
Covalent ICO Value Proposition
Covalent offers a broadcast arrangement band for accretion to abstract amount from abstracts after compromising privacy. The arrangement architectonics is purpose-built to monetize and advance abstracts in a reliable, defended and able way after any affair anytime accepting absolute admission to the abstracts itself. Privacy of ciphering guarantees aegis for abstracts providers, while affidavit of ciphering ensures archetypal achievement after-effects are absolute and reliable for abstracts consumers. To aerate scalability, trusted accouterments enclaves conduct ciphering tasks in an offchain environment.
The Covalent Virtual Machine (CVM) relies on a hardware-based enclave, or Trusted Execution Environment (TEE), to accomplish all-embracing ciphering accordant with acute contracts. Intel SGX will initially accommodate the TEE for offchain computation.
While arrangement nodes, referred to as SGX Host Miners, accomplish archetypal functions like block assembly and transaction verification, they additionally host accouterments enclaves for offchain computation. Each ciphering instance occurs offchain on a distinct bulge to abate onchain arrangement amount and aerate privacy. When a compute assignment is complete, the offchain bulge submits affidavit of ciphering forth with the appear achievement after-effects to the acute arrangement agreement for analysis by added nodes in the network.
Covalent employs use of TEEs as an optimized band-aid for both aloofness and affidavit of computation, as the capacity are not attainable to any arrangement participants, alike Miners themselves.
Covalent hosts a Abstracts Marketplace to facilitate transactions. The arrangement allows abstracts producers to accept amid altered methods for abstracts sharing, including streaming, licensing and bartering schemes. Abstracts consumers will accommodate abstracts aggregators, archetypal trainers and added owners gluttonous added data. Traceable buying ensures abstracts owners are compensated at every date of the administration and acceptance process.
The Data Marketplace consists of three types of participants:
Data Owners aboriginal encrypt a dataset and broadcast it to an basis on the Abstracts Marketplace. Archetypal Trainers chase the basis and accept a adapted dataset for use. Once a dataset is selected, the MT submits a buy adjustment and is baffled to the Owner and SGX Host Miner through libp2p, an IPFS p2p protocol. If the DO agrees to the request, the dataset is beatific to the SHM forth with a assortment of the dataset to the MT. The MT additionally sends archetypal software and a assortment of the adapted abstracts set through an encrypted approach to the SHM.
Once the assignment is complete, the SHM sends the encrypted after-effects to the MT, and a key to break the after-effects to the DO. The DO assuredly sends the key to the acute contract, which provides the key to the MT to admission the ciphering after-effects and rewards the DO for use of the dataset.
COVA is the built-in agreement badge of Covalent, confined as a assemblage of barter for affairs amid arrangement participants. COVA is additionally the accolade apparatus for miners that host accouterments enclaves, aftermath blocks and verify transactions. Arrangement users will accomplish payments and deposits with COVA, which can serve as a pale adjoin awful behavior. COVA will initially be appear as an ERC20 badge until barrage of the mainnet.
Covalent ICO Team
Vincent Li (Co-founder) was a doctoral applicant at Harvard University afore abandonment to accompany a opportunities in finance. Vincent spent 3 years as an engineer, starting off in high-frequency trading close afore affective to Citadel, a arch barrier fund. He larboard Bastion for a position at Gigster, a freelance software developer startup, area he spent a year afore affective on to begin Covalent.
Raymond Gao (Co-founder) holds an MS in Mechanical Engineering from Princeton University, area he spent two years as a Research Assistant. He is an aboriginal adopter of BTC and ETH as both an broker and miner. In 2016, he abutting FreeS Fund as an broker in Big Data and IoT companies afore founding Covalent.
Shundan Xiao (Co-founder) has 5 years acquaintance as a Software Engineer in the Bay Area, including stints at Amazon, LinkedIn and Gusto.
On the advising end, Covalent are accepting abutment from Shuoji Zhou of FBG and Jia Tian from Bitfinex.
The Covalent ICO aggregation has addition 9 members. Complete capacity on the aggregation are accessible here.
Covalent ICO Strengths and Opportunities
The Covalent ICO proposes a added candid eyes for abstracts administration through mechanisms like traceable buying to ensure providers can ascendancy how their abstracts is acclimated over time. The contempo accretion of 23andMe by GlaxoSmithKline, which included the rights to 5 actor chump DNA records, is a sobering admonition how badly a archetype about-face is needed.
In sectors like healthcare area abstracts is both deficient and acute in nature, Covalent presents a abeyant win-win book for all stakeholders. A greater cardinal of individuals are incentivized to deeply allotment their data, accouterment enterprises bigger admission to higher-quality datasets.
For fields like attention anesthetic in particular, acceptable abstracts is so deficient that government-funded initiatives await on volunteers to accommodated the astronomic demand. Leveraging the accepted charge in the data-driven healthcare industry, a pilot-project amid Covalent and an action accomplice would lay a solid foundation for growth.
Progress markers on both the business and tech fronts are apocalyptic of an aboriginal date project. Still, the Covalent ICO has fabricated acute advance architecture a abundant association of supporters and acquaintance in the amplitude that are indispensable. The amount aggregation associates accept approved clue annal ascent startups, architecture tech products, and alike above-mentioned blockchain development products. Covalent has additionally accustomed institutional abetment from FBG, Zhenfund, BlueHill and Node Capital.
Covalent ICO Weaknesses and Threats
While the aggregation has adumbrated to us an aboriginal abundance of the arrangement is beneath development, no artefact audience or cipher is currently attainable to the public. With the team’s focus anchored on tech at the moment, a abundant roadmap for barometer artefact advance would absolutely be welcome.
Targeting acceptance from the alone akin up to the enterprise, an articulate go-to-market action that includes affiliation targets, acceptance efforts and a affairs for architecture the ecosystem user abject will be analytical at the abutting date for outpacing the competition.
With a artefact abstraction that has abeyant to ability a abundant bazaar above aloof crypto-savvy users, Covalent could angle to accumulation from alignment their business efforts accordingly. Building a advancing and acceptable ecosystem from the arena up will ultimately depend on a able user abject at both the accumulation and appeal ends. We will be carefully ecology developments as Covalent moves into the abutting phase.
The Verdict on the Covalent ICO
The Covalent ICO offers a comprehensive, decentralized belvedere to tap the great breeze of unutilized abstracts produced accustomed in the agenda realm. While the Covalent ICO is still missing some key advance indicators on both the tech and affiliation fronts, the believability of the team, well-designed artefact abstraction and abutment from top institutional ally all point against a solid activity in its aboriginal stages of development.
Additional Information
We accept been in discussions with the Covalent ICO aggregation and our ratings are based on conversations and advice that they accept asked us to accumulate confidential. Please agenda that our analysis does booty into application the badge abstracts that has been aggregate with us, but we accept been accurately requested not to allotment the badge metrics that we accept apparent at this point. We will allotment them as anon as they are fabricated accessible by the team.
As a Top 10% rated ICO, we will attending to accomplish a baby bet on the Covalent ICO.
COVALENT ICO REVIEW SCORES
SUMMARY
The Covalent ICO may assume at aboriginal glance to fly in the face of prevailing customer sentiment: in an era of abstracts breaches and crumbling accessible assurance in Big Data, Covalent wants to absolutely access abstracts utilization.However, their band-aid is anxiously marketed through use-case examples, and it is bright that under-utilized or poorly-utilized abstracts can be aloof as cher as over-utilized data. With their focus on privacy, the aggregation may accept begin a bazaar articulation that is in atrocious charge of the product. A able aggregation and absorbing tech annular out a able offer; but as is generally the case with an early-stage company, partnerships and affidavit of an MVP will ascertain advance from here.
Founding Team……………………….8.4
Product…………………………………..7.0
Token Utility…………………………..9.5
Market…………………………………..8.5
Competition…………………………..5.0
Timing……………………………………7.2
Progress To Date……………………8.2
Community Support & Hype…..8.3
Price & Token Distribution……..7.3
Communication……………………..9.5
FINAL SCORE……………………….7.8
Upsides
Downsides
Today’s Date: 7/30/18
Project Name: Covalent
Token Symbol: COVA
Website: http://covalent.ai/
White Paper: Covalent Whitepaper
Additional Information: https://t.me/covalentofficial
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The aggregation at Crypto Briefing analyzes an antecedent bread alms (ICO) adjoin ten criteria, as apparent above. These belief are not, however, abounding analogously – our proprietary appraisement arrangement attributes altered degrees of accent to anniversary of the criteria, based on our acquaintance of how anon they can advance to the success of the ICO in question, and its investors.
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Founding Team
This class accounts for the leaders, developers, and advisors.
Poor quality, weak, or amateur administration can doom a activity from the outset. Advisors who serve alone to pad their own resumes and who accept aside roles can be concerning. But abundant leadership, with accordant industry acquaintance and contacts, can accomplish the aberration amid a acknowledged and assisting ICO, and a flub.
If you don’t accept a aggregation accommodating and able to body the thing, it won’t amount who is at the helm. Good aptitude is adamantine to find. Developer profiles should be scrutinized to ensure that they accept a accurate history of alive in a acreage area they should be able to succeed.
Product
What is the technology abaft this ICO, what artefact are they creating, and is it new, innovative, altered – and needed?
The IOTA activity is a amazing archetype of engineers run amok. The technology declared or in use charge be maintainable, achievable, and realistic, contrarily the accident of it never advancing into actuality is abundantly high.
Token Utility
Tokens which accept no absolute use case are apparently the affliction off, although belief can still accomplish them accept some anatomy of value.
The best tokens we analysis are the ones that accept a affected use case – you charge accept this badge to comedy in some bold that you will apparently admiration to comedy in. The actual best account tokens are the ones which put the badge holder in the position of bartering tokens to businesses who would be able to finer accomplish use of the platforms in question.
Market
There doesn’t accept to be a bazaar in adjustment for an ICO to account able-bodied in this class – but if it intends to actualize one, the altercation has to be acutely compelling.
If there is an absolute market, questions actuality absorb whether it is accomplished for disruption, whether the technology enables article better, cheaper, or faster (for example) than absolute solutions, and whether the bazaar is historically acquiescent to new ideas.
Competition
Most account accept several implementations. If there are others in the aforementioned field, the analyst needs to ensure that the others don’t accept accessible advantages over the aggregation in question.
Moreover, this is the abode area the analyst should analyze any abeyant weaknesses in the company’s position affective forward. For instance, a axiological weakness in the STORJ arrangement is that the badge is not appropriate for purchasing storage.
Timing
With abounding ICO ideas, the timing may be too backward or too early. It’s important for the analyst to accede how abundant appeal there is for the artefact in question. While the IPO bang adjourned a lot of abundant account that eventually did appear to fruition, a acceptable analyst would admit back an abstraction is too early, too late, or aloof right.
Progress To Date
Some of the atomic acute ICO propositions are those that affirmation their founders will accomplish some abroad goal, ancient in the future, aloof so continued as they accept your banknote with which to do it.
More absorbing (usually) is the ICO that seeks to added some advance forth the aisle to success, and which has a clearly-identified roadmap with accessible and reasonable milestones forth the way. Founders who are already partially-invested in their articles are about added invested in their futures.
Community Support & Hype
Having a able association is one of the axiological architecture blocks of any able blockchain project. It is important that the activity demonstrates aboriginal on that it is able to accomplish and body a able and empowered abutment base.
The ICO exchange is acceptable added awash and added competitive. While in the accomplished it was abundant to alone advertise an offering, today’s acknowledged ICO’s assignment adamantine to body acquaintance and action about their offering.
Price & Token Distribution
One of the better factors belief any assay is price. The lower the amount the added there is to gain. But too low of a amount may aftereffect in an beneath capitalized project. It is accordingly important to appraise amount about to the alone project, its ability and the bazaar it is activity after.
The absolute accumulation of tokens should additionally be justified by the needs of the project. Issuing a billion tokens for no acumen will do cipher any good.
Communication
Communication is key. The success of a activity is acerb angry to the activity leaders’ adeptness to acquaint their goals and achievements.
Things don’t consistently go as planned but acclamation issues and befitting the association and investors in the bend can accomplish or breach a project.
