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COVA and BitMax.io Announced Partnership
December 12, 2018 (GMT+8), COVA, a promising data platform that attaches Smart Policies to user data to better protect data privacy, has proudly announced partnership with BitMax.io (BTMX.com), the reputable and innovative digital asset trading platform founded by a group of Wall Street veterans. Since its initial launch in July, BitMax.io has been attracting attention world-widely because of its remarkable performance: the platform completed its early stage financing round with strategic investments from many of the industry’s top venture capital institutions including FBG Capital, BitMain, Matrix Partners China, and Danhua Capital; it is the industry first exchange that applies both trans-fee mining and reverse-mining; and as of 09:49 pm EST, on November 18, 100 mins since the launch of the industry FIRST transaction-mining and REVERSE-mining, the trading volume on BitMax.io (BTMX.com) had exceeded 100 million USD.
It is widely known that BitMax.io has been very serious about its reputation, and thus has become extremely selective when it comes to partnerships. So, who is the COVA project? And why it is COVA that BitMax.io has chosen to be the strategic partner?
Current Pain-point of Data Usage?
Like everything in the world the internet is long overdue for an innovative upgrade, currently, the internet is made up of data that are completely redundant, data that are prone to breach and misuse, our current level in terms of technology means that the internet needs to become more of an intelligent tool than a giant collection of redundant data.
A lot of people believe that internet is the most interesting discovery of the modern era, and it has gone from an isolated world to a connected world though not fully connected, for the full potential of the internet to be appreciated it has to go through some reformation and one of such reformation is the state of the data, data needs to be made smarter and more secure.
Imagine an internet that is made up of smart data, data that have the capabilities to behave intelligently in that case we no longer need to worry about the privacy and security of data because those quality are being taken care of by the data itself.
A fair question at this moment would be: How and who is going to make that possible? Well, the answer is COVA.
Who Is COVA?
COVA is a blockchain company that wants to tackle this problem using the smart contract. COVA is a blockchain powered internet protocol, it makes use of the “Trusted Execution Environments (TEE)”, TEE can be regarded as an isolated environment that runs in parallel with the operating system and ensures security for the environment. It ensures that data and code that is loaded inside the environment is protected with respect to confidentiality and integrity. In more technical case TEE refers to the nodes that run on the chain and provide the high computational power that the chain needs to carry out its basic functions. It makes sure that any data that moves across these nodes will be completely unreadable to the node initiators and ensures that the data privacy and security is ensured. And also “Centrifuge” a Policy Specification Language (PSL) that specifies data usage policies in programming language and a Policy Enforcement Framework (PEF) that enforces the PSL through code. lastly, “CovaVM” a Policy Enforcement Framework (PEF) that enforces the policy written in Centrifuge.
COVA protocol is an add-on to the current internet protocol that promises to transform the web into a web of strong security and privacy. With COVA, data can be completely controlled with a Smart Policy. COVA uses the guarantee from the processor-level security to implement self-protecting data with Smart Policies. the kind of internet COVA wants to create will transform our society in ways no one is expecting, with this advancement I believe a lot of sectors would change drastically and the internet will become safe for everybody.
On their website: https://covalent.ai
Or Read COVA’s white paper: https://github.com/covalent-hq/wiki/wiki
You can also Follow COVA’s Official Telegram Group: https://t.me/covalentofficial
Follow COVA’s twitter: https://twitter.com/@covatoken
Follow COVA’s Medium: https://medium.com/@covatoken