Civic (CVC)

$0.030597 (57.68%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
136 $20,500,100.00 $4,139,230.00 670,000,000 CVC 139 57.68% 51.21% -$17.65

Exchange Pair Volume (24h) Price
Binance CVC/BTC 55,110.00 0.0000023800
Binance CVC/ETH 3,292.39 0.0001227000
Binance CVC/USDT 18,092.45 0.0206800000
Coinbase Pro CVC/USDC 5,389.86 0.0203310000
Poloniex CVC/BTC 2,115.05 0.0000023700
Bittrex CVC/BTC 1,172.52 0.0000024000
KuCoin CVC/BTC 18,875.15 0.0000023400
Bittrex CVC/ETH 131.49 0.0001220000
Livecoin CVC/BTC 172.09 0.0000022900
Bitkub CVC/THB 69.23 0.6200000000
Bilaxy CVC/USDT 475,661.00 0.0202900000
AEX CVC/USDT 340,087.00 0.0207600000
ZG.com CVC/USDT 193,814.00 0.0205700000
OKEx CVC/USDT 161,713.00 0.0206000000
Resfinex CVC/USDT 15,645.94 0.0205500000
Huobi Global CVC/USDT 21,604.00 0.0207000000
BKEX CVC/ETH 59,825.00 0.0001211300
VCC Exchange CVC/BTC 939.29 0.0000023500
Huobi Global CVC/BTC 6,211.58 0.0000023800
OKEx CVC/ETH 51,563.00 0.0001220000
Resfinex CVC/ETH 31,174.00 0.0001225000
Bitsdaq CVC/BTC 1,172.54 0.0000024000
Vebitcoin CVC/TRY 71,222.00 0.1240000000
Tokenize CVC/BTC 8.63 0.0000024000
Ovex CVC/BTC 28.51 0.0000023900
Mercatox CVC/BTC 52,319.00 0.0000023800
Bitsdaq CVC/ETH 131.51 0.0001220000
BKEX CVC/USDT 7,306.27 0.0200000000
Tokenize CVC/ETH 1.09 0.0001220000
GoPax CVC/KRW 1,032.45 23.9800000000
Gate.io CVC/USDT 631.33 0.0207000000
Mercatox CVC/ETH 2,397.43 0.0001203500
ZG.com CVC/ETH 2,021,822.00 0.0001223000
ZG.com CVC/BTC 380,320.00 0.0000024200
Hanbitco CVC/BTC 5,211.61 0.0000023800
CoinBene CVC/BTC 14,143.84 0.0000023900
ChainEX CVC/BTC 7,547.43 0.0000022700
Huobi Global CVC/ETH 819.78 0.0001237600
OKEx CVC/BTC 6,882.07 0.0000023000
P2PB2B CVC/USDT 4,559.85 0.0205955400
P2PB2B CVC/USD 3,925.98 0.0205955400
P2PB2B CVC/BTC 1,733.78 0.0000023800
P2PB2B CVC/ETH 93.45 0.0001225600
Kyber Network CVC/ETH 695.28 0.0001255323
Huobi Korea CVC/BTC 39.74 0.0000023800
Uniswap CVC/ETH 31.93 0.0001231231
Huobi Korea CVC/USDT 0.95 0.0207000000
Upbit CVC/KRW 2,970,146.00 39.9000000000
Gate.io CVC/ETH 7.59 0.0001220000
Idex CVC/ETH 10.28 0.0001156598
VCC Exchange CVC/ETH 89.23 0.0001219200
HitBTC CVC/USD 30.00 0.0233633000
BuyUcoin CVC/INR 102.39 1.8000000000
Huobi Korea CVC/ETH 0.14 0.0001202200
Upbit CVC/BTC 107.39 0.0000038100

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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