Civic (CVC)

$0.260675 (46.84%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
169 $174,652,000.00 $288,623,000.00 670,000,000 CVC -- 46.84% -17.53% -$122.10

Exchange Pair Volume (24h) Price
Upbit CVC/KRW 160,988,373.00 305.0000000000
Binance CVC/USDT 33,523,656.00 0.2673500000
OKEx CVC/USDT 22,343,325.00 0.2665000000
Coinbase Exchange CVC/USDC 7,590,749.00 0.2651340000
Huobi Global CVC/USDT 7,981,477.00 0.2615000000
Gate.io CVC/USDT 140,084.00 0.2635000000
HitBTC CVC/BTC 136,152.00 0.0000067210
HitBTC CVC/USDT 10,540.96 0.2672149000
VCC Exchange CVC/BTC 523,616.00 0.0000066700
Binance CVC/BTC 5,846,219.00 0.0000066700
BKEX CVC/USDT 6,191,521.00 0.2607000000
Bitkub CVC/THB 850,319.00 8.7500000000
Bilaxy CVC/USDT 129,772.00 0.2651400000
AAX CVC/USDT 366,831.00 0.2652000000
Huobi Global CVC/BTC 987,409.00 0.0000066900
OKEx CVC/BTC 4,478,656.00 0.0000067900
AEX CVC/USDT 379,558.00 0.2635000000
Binance CVC/ETH 1,612,992.00 0.0001170500
P2PB2B CVC/USDT 3,107,366.00 0.2615801900
P2PB2B CVC/USD 3,063,003.00 0.2642350100
WazirX CVC/INR 509,193.00 20.5000000000
CEX.IO CVC/USD 142,589.00 0.2667000000
XT.COM CVC/USDT 341,593.00 0.2654000000
WazirX CVC/USDT 82,431.00 0.2693100000
Huobi Global CVC/ETH 130,575.00 0.0001143100
Bittrex CVC/BTC 51,367.00 0.0000067400
CoinEx CVC/USDT 39,656.00 0.2699000000
P2PB2B CVC/ETH 224,679.00 0.0001161600
Upbit CVC/BTC 35,114.00 0.0000067800
Bittrex CVC/ETH 6,341.52 0.0001160800
GoPax CVC/KRW 31,014.00 306.9000000000
CoinBene CVC/BTC 373,441.00 0.0000068000
KuCoin CVC/BTC 42,934.00 0.0000066300
Gate.io CVC/ETH 5,366.97 0.0001157000
Coinfield CVC/USDT 161,563.00 0.2614740000
Poloniex CVC/BTC 12,913.69 0.0000065600
NiceHash CVC/BTC 1,392.53 0.0000067300
Bitubu Exchange CVC/BTC 67,690.00 0.0000067100
P2PB2B CVC/BTC 535,400.00 0.0000067500
Omgfin CVC/USDT 78,341.00 0.2607200000
Coinfield CVC/XRP 184,193.00 0.4065000000
Omgfin CVC/ETH 33,859.00 0.0001140700
Omgfin CVC/BTC 78,983.00 0.0000066500
BuyUcoin CVC/USDT 52,831.00 0.2638000000
Mercatox CVC/BTC 85,231.00 0.0000064600
Bitubu Exchange CVC/USDT 81,118.00 0.2591000000
Hotbit CVC/USDT 38,967.00 0.2659710000
Hotbit CVC/BTC 36,243.00 0.0000067153
ZG.com CVC/USDT 37,880.00 0.2655400000
Bitubu Exchange CVC/ETH 21,233.00 0.0001140000
Mercatox CVC/ETH 62,589.00 0.0001107500
Huobi Korea CVC/USDT 62,390.00 0.2662000000
Kyber Network CVC/ETH 21,642.00 0.0001218091
Huobi Korea CVC/BTC 2,021.75 0.0000068200
Huobi Korea CVC/ETH 1,018.32 0.0001167700
Uniswap (v2) 0X41E5560054824EA6B0732E656E3AD64E20E94E45/ETH 19,914.34 0.0001228938
1inch 0X41E5560054824EA6B0732E656E3AD64E20E94E45/ETH 8,686.81 0.0001052375

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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