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Civic (CVC)

$0.152363 (-5.38%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
130 $102,083,000.00 $21,056,800.00 670,000,000 CVC -- -5.38% -3.35% $8.20

Exchange Pair Volume (24h) Price
Coinbase Pro CVC/USDC 2,377,575.00 0.1491010000
Upbit CVC/KRW 4,987,366.00 166.0000000000
Huobi Global CVC/USDT 1,096,925.00 0.1493000000
Binance CVC/USDT 2,647,302.00 0.1487900000
Binance CVC/BTC 1,030,226.00 0.0000043600
Resfinex CVC/USDT 6,229.88 0.1492500000
HitBTC CVC/USD 196,570.00 0.1493734000
HitBTC CVC/BTC 67,539.00 0.0000043550
AEX CVC/USDT 180,322.00 0.1492000000
Huobi Global CVC/BTC 92,224.00 0.0000043500
Bitkub CVC/THB 129,087.00 4.6200000000
Bilaxy CVC/USDT 188,216.00 0.1487800000
OKEx CVC/USDT 2,665,549.00 0.1492000000
Bitubu Exchange CVC/USDT 429,920.00 0.1502300000
Bittrex CVC/BTC 11,205.77 0.0000043300
P2PB2B CVC/BTC 35,006.00 0.0000043700
Binance CVC/ETH 121,175.00 0.0001150000
Huobi Global CVC/ETH 54,018.00 0.0001155800
OKEx CVC/BTC 1,246,271.00 0.0000043600
P2PB2B CVC/USD 42,757.00 0.1505600000
P2PB2B CVC/USDT 36,367.00 0.1496500000
Gate.io CVC/USDT 24,103.00 0.1494200000
BKEX CVC/USDT 373,333.00 0.1480000000
OKEx CVC/ETH 219,596.00 0.0001160000
KuCoin CVC/BTC 10,845.60 0.0000043400
P2PB2B CVC/ETH 42,286.00 0.0001161200
Gate.io CVC/ETH 1,786.71 0.0001153900
Uniswap (v2) 0X41E5560054824EA6B0732E656E3AD64E20E94E45/ETH 9,584.83 0.0001120603
Hotbit CVC/BTC 48,037.00 0.0000042747
GoPax CVC/KRW 4,555.62 168.4000000000
Hotbit CVC/USDT 50,216.00 0.1492090000
Balancer 0X41E5560054824EA6B0732E656E3AD64E20E94E45/ETH 385.03 0.0001030710
Coinfield CVC/XRP 42,622.00 0.5119000000
Coinfield CVC/USDT 37,856.00 0.1501110000
VCC Exchange CVC/BTC 164,322.00 0.0000043600
Bitubu Exchange CVC/ETH 28,553.00 0.0001164400
Omgfin CVC/USDT 39,647.00 0.1515100000
Omgfin CVC/ETH 19,058.67 0.0001150100
Omgfin CVC/BTC 42,996.00 0.0000043400
Poloniex CVC/BTC 2,031.11 0.0000044000
BuyUcoin CVC/USDT 20,224.00 0.1534000000
ChainEX CVC/BTC 3,096.80 0.0000044100
Upbit CVC/BTC 1,289.09 0.0000043000
CoinBene CVC/BTC 491,988.00 0.0000043800
ZG.com CVC/USDT 22,313.00 0.1486000000
Mercatox CVC/BTC 64,251.00 0.0000034800
Mercatox CVC/ETH 30,973.00 0.0001119100
Bitubu Exchange CVC/TRY 336,827.00 1.1222000000
Huobi Korea CVC/USDT 665.71 0.1492000000
Uniswap (v1) CVC/ETH 383.48 0.0001140209
Huobi Korea CVC/BTC 6.57 0.0000043500
NiceHash CVC/BTC 74.32 0.0000044300
OKEx Korea CVC/USDT 19.98 0.1478000000
Bittrex CVC/ETH 869.18 0.0001134100
Bitubu Exchange CVC/BTC 231.28 0.0000044200
1inch 0X41E5560054824EA6B0732E656E3AD64E20E94E45/ETH 6,532.71 0.0001152407
Kyber Network CVC/ETH 6,357.76 0.0001114819
Paraswap 0X41E5560054824EA6B0732E656E3AD64E20E94E45/ETH 122.98 0.0001179854
Lykke F9FB5970-2FC4-4B08-900B-870F245E430B/BTC 124.53 0.0000040000
Huobi Korea CVC/ETH 20.67 0.0001171500

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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