Civic (CVC)

$0.040214 (8.79%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
196 $13,781,400.00 $1,361,720.00 342,700,000 CVC 35 8.79% 1.66% -$3.53

Exchange Pair Volume (24h) Price
Binance CVC/BTC 180,301.00 0.0000038800
Bitsdaq CVC/BTC 23,169.00 0.0000038800
Bittrex CVC/BTC 23,169.00 0.0000038800
Binance CVC/ETH 10,486.62 0.0002082700
Poloniex CVC/BTC 2,179.78 0.0000039000
Coinbase Pro CVC/USDC 3,570.57 0.0403810000
Binance CVC/BNB 4,627.19 0.0015020000
Ovex CVC/BTC 326.46 0.0000039000
Bitkub CVC/THB 173.67 1.2200000000
OKEx CVC/USDT 395,966.00 0.0403000000
Huobi Korea CVC/USDT 863.30 0.0402000000
Huobi Korea CVC/BTC 753.80 0.0000038700
Huobi Global CVC/BTC 26,567.00 0.0000038700
Huobi Global CVC/USDT 52,435.00 0.0402000000
Bkex CVC/USDT 179,456.00 0.0395000000
Upbit CVC/KRW 89,933.00 48.6000000000
Upbit CVC/BTC 23,209.00 0.0000038800
Bittrex CVC/ETH 1,627.39 0.0002069100
Bkex CVC/ETH 87,627.00 0.0002047700
Bitsdaq CVC/ETH 1,627.39 0.0002069100
OKEx CVC/ETH 24,532.00 0.0002080000
Huobi Global CVC/ETH 7,278.01 0.0002080300
OKEx CVC/BTC 19,579.70 0.0000038000
BitAsset CVC/USDT 54,684.00 0.0404310000
ChainEX CVC/BTC 20,152.00 0.0000039400
KuCoin CVC/BTC 199.69 0.0000038400
AEX CVC/USDT 2,716,824.00 0.0390000000
Upbit CVC/ETH 1,627.49 0.0002069100
KuCoin CVC/ETH 43.06 0.0002085000
CoinBene CVC/BTC 57,930.00 0.0000038900
Dcoin CVC/USDT 29,084.00 0.0385990000
Kyber Network CVC/ETH 65.21 0.0002073678
Livecoin CVC/BTC 328.71 0.0000045400
Mercatox CVC/BTC 65,888.00 0.0000037600
Mercatox CVC/ETH 3,584.17 0.0002334600
P2PB2B CVC/USDT 1,835.79 0.0391855200
P2PB2B CVC/USD 1,733.85 0.0391855200
P2PB2B CVC/BTC 1,572.34 0.0000038900
P2PB2B CVC/ETH 66.61 0.0002091800
Uniswap CVC/ETH 26.61 0.0002067620
CredoEx CVC/CREDO 0.00 10.4379123163
Huobi Korea CVC/ETH 0.00 0.0002080300
Coinplace CVC/BTC 23,730.00 0.0000391800
GoPax CVC/KRW 0.41 50.0000000000
Gate.io CVC/ETH 8.19 0.0002090000
BuyUcoin CVC/INR 309.96 3.4000000000
Gate.io CVC/USDT 0.00 0.0390000000
HitBTC CVC/USD 0.00 0.0290005000
ForkDelta CVC/ETH 0.00 0.0003999956

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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