Civic (CVC)

$0.019279 (4.92%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
168 $12,916,600.00 $4,837,100.00 670,000,000 CVC -- 4.92% 1.8% -$0.95

Exchange Pair Volume (24h) Price
Coinbase Pro CVC/USDC 79,994.00 0.0194600000
Upbit CVC/KRW 332,968.00 23.2000000000
Resfinex CVC/USDT 1,853.87 0.0192700000
Binance CVC/BTC 147,067.00 0.0000028700
Resfinex CVC/ETH 9,991.07 0.0001365000
Binance CVC/USDT 65,991.00 0.0193700000
Binance CVC/ETH 11,553.54 0.0001364500
Vebitcoin CVC/TRY 98,508.00 0.1310000000
Poloniex CVC/BTC 2,151.18 0.0000028800
VCC Exchange CVC/BTC 4,348.47 0.0000028400
Bittrex CVC/BTC 4,363.00 0.0000028400
Bitsdaq CVC/BTC 4,363.00 0.0000028400
Tokenize CVC/BTC 36.13 0.0000028400
KuCoin CVC/BTC 374.07 0.0000028800
Gate.io CVC/USDT 320.14 0.0192000000
OKEx CVC/BTC 1,590,542.00 0.0000028700
OKEx CVC/ETH 854,704.00 0.0001370000
OKEx CVC/USDT 731,987.00 0.0192000000
Huobi Global CVC/USDT 69,046.00 0.0191000000
BKEX CVC/ETH 129,346.00 0.0001322600
Huobi Global CVC/BTC 18,574.73 0.0000028500
BKEX CVC/USDT 35,756.00 0.0189000000
Huobi Global CVC/ETH 3,707.95 0.0001374600
Mercatox CVC/BTC 44,847.00 0.0000027700
Gate.io CVC/ETH 19.06 0.0001380000
ChainEX CVC/BTC 1,292.51 0.0000028400
Bitkub CVC/THB 388.04 0.6200000000
Mercatox CVC/ETH 2,750.23 0.0001424000
Livecoin CVC/BTC 184.46 0.0000028500
Upbit CVC/BTC 30.47 0.0000027900
ZG.com CVC/ETH 1,378,313.00 0.0001319000
Bilaxy CVC/USDT 445,594.00 0.0195400000
AEX CVC/USDT 287,159.00 0.0195000000
ZG.com CVC/BTC 265,092.00 0.0000028900
ZG.com CVC/USDT 131,560.00 0.0191500000
CoinBene CVC/BTC 81,698.00 0.0000028600
P2PB2B CVC/ETH 223.20 0.0001331400
P2PB2B CVC/BTC 2,902.21 0.0000028600
P2PB2B CVC/USD 4,663.76 0.0193700000
P2PB2B CVC/USDT 3,166.14 0.0193700000
Kyber Network CVC/ETH 61.43 0.0001347246
Huobi Korea CVC/USDT 12.87 0.0193000000
Huobi Korea CVC/BTC 3.58 0.0000028400
Huobi Korea CVC/ETH 2.75 0.0001374600
VCC Exchange CVC/ETH 3.16 0.0001380900
Bitsdaq CVC/ETH 3.16 0.0001380900
Bittrex CVC/ETH 3.16 0.0001380900
Tokenize CVC/ETH 0.03 0.0001380900
GoPax CVC/KRW 116.67 24.6800000000
Idex CVC/ETH 28.76 0.0001019696
HitBTC CVC/USD 2.55 0.0172531000
Uniswap CVC/ETH 7.45 0.0001342884
BuyUcoin CVC/INR 63.39 1.0200000000
Bitcratic CVC/ETH 14.21 0.0125000000
Livecoin CVC/USDT 0.00 0.0000000000

Background

Civic is attempting to create a decentralized identification platform that allows users to control their personally identifiable information (PII). The team believes that by using a distributed, cryptographically secured database users can gain greater control of who access their data and how it is stored, reducing identity theft and increasing access to identity for many in areas where government services are lacking. Civic imagines a broad set of applications such as travel documentation, banking, credit, and web credentials. Personal identification services are currently provided via the Civic mobile app. The app allows users to upload their personal data which is stored locally on their device using encryption and biometric locks. Storing data in this way gives the user full control over their data and can remove the risks involved with Civic holding user data in a central database. Current services are not fully decentralized and rely on the company to verify a user’s credentials before validating them for use. After verification, an attestation is added to the blockchain providing proof-of-ownership for users. Requestors can confirm that the details being provided by a user belong to that user by checking the attestation provided on the blockchain. In the future, using the Civic (CVC) token as an incentive, the team plans to create a fully decentralized system. Civic believes that the future system will allow users complete control over how their information is verified and remove the ability for governments or other organizations to censor data, which they see as compelling enough to make a blockchain potentially worth the cost and inefficiency involved in building a distributed system

Technology

Civic currently provides identity verification through the Secure ID Platform (SIP). Users access SIP through the Civic App. Users are able to upload identity documents, like a driver’s license, which is then verified by a third party and an attestation is added to the blockchain. An attestation is the hash of underlying element of personal identification plus some additional metadata, which results in a ‘stamp of approval’ that can be referenced to validate identity. When a user wishes to prove their identity, they scan a QR code provided by the requestor and can share the specific information being requested. The requestor is able to verify the user’s identity based on details stored in the Civic App and by referencing the blockchain attestation. blockchain attestation. Additionally, user’s personally identifiable data (PII) is organized locally into a Merkel tree that allows for verifying selective attributes and enables users to share data selectively. Civic is currently developing a decentralized, open-source ecosystem, Identity.com. Civic leverage the Identity.com platform for their identity verification solutions provided through the Secure ID Platform (SIP). Identity.com will incentivize identification providers (Validators), such as a business that has already performed verification on a customer, to perform trustworthy identity verification, for which they will be rewarded in CVC tokens. Validators will validate the identity of a Civic user and “stamp” this approval on the blockchain in the form of an attestation. Recent updates to the Civic whitepaper include a Token Behavior Model, explaining a detailed proposal for incentivizing valid attestations by validators in the Identity.com ecosystem. Civic Inc., in conjunction with Newtown partners, proposes a game-theoretic model where requestors can flag validations if they believe these to be incorrect and validators can either accept or reject responsibility for a flagged attestation being incorrect. The Token Behavior Model, predicated on game theory and smart contracts, and is designed to focus on the mandatory goal alignment between ecosystem participants. The penalty and rewards system provides four possible results: 1) correct attestation accepted by requester, 2) correct or incorrect attestation flagged by requester but flag rejected by validator, 3) correct or incorrect attestation flagged by requester and flag accepted by validator, 4) incorrect attestation accepted by requester. Because option one provides the greatest reward, most participants should be incentivized to act in a way that achieves this outcome. A party seeking user identification would stake tokens which would be transferred through a smart contract to the validator once honest validation has been performed.



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