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CVNT: 2021 New Trend in Blockchain Industry

Team Bitcoin Daily

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In the blockchain industry, we must see the future before others.

BTC has risen to the highest point in history, and now it is not suitable for us to take a heavy position.

From the perspective of investment, investment based on fundamentals is the kingcraft investment, which is the psychological cornerstone for people to face short-term fluctuations and remain firm, so that the explosive power of BTC, ETH, LTC, dot, uni, etc. in the bull market will not be ignored. The impact of fundamentals on the secondary market price can only be exerted in the bull market stage.

So what are we going to invest next to create more profits for us?

The answer is to refer to what organizations are laying out.

Recently, with the head application RR dVod coming online soon, and the airdrop transformation of the original Internet project, YYeTs has accumulated “capital” in 16 years, including 20 million active users and data pools, tens of thousands of part-time translators from all over the world, and nearly 100000 translation lovers.

The overall development progress of CVNT conscious value network is relatively optimistic, and the future has become more and more clear. Many institutional investors around them regard CVNT as a rare opportunity and focus on the layout.

Blockchain project is the competition of capital in the final analysis. For ordinary people, opportunities will only appear in the earliest stage, only when a large amount of funds do not enter the market in batches. The CVNT storage mining and RR dVod content distribution mining, which will be started soon, are likely to give birth to a number of new rich people in the coin circle.

Opportunities are fleeting. Considering that CVNT is also an old public chain project, I will not elaborate on the background of the project and the whole storage public chain track in the following contents. I will deconstruct the currency price rise and appreciation logic most concerned by everyone from three perspectives: the fundamentals of the project, the head application RR dVod and the value capture of CVNT token.

CVNT: 2021 New Trend in Blockchain Industry

CVNT conscious value network (hereinafter referred to as CVNT) is committed to solving the problems of low performance, poor security, high development difficulty and excessive dependence on service charges of existing blockchain applications, and realizing the performance expansion and decentralized storage of distributed applications. The newly upgraded “VRF consensus main chain + PoST+ double chain structure” runs perfectly in the main network released by CVNT in the middle of last year, establishing a high scalability, high performance and stable underlying storage architecture. Based on the new consensus algorithm, the block speed, success rate, delay, server cost and scalability cost of CVNT’s main network greatly surpass those of the same kind of public chain. In addition, there are many innovations in the way of technology development, which jointly support the positioning of “distributed database cloud + BaaS platform” and the realization of related functions.

Compared with Filecoin, which also uses the consensus of PoST, CVNT main network goes online earlier. At present, the block height is nearly 50 million, TPS / CTPs is more than 50000, and 100 super nodes are supported. On the basis of inheriting the existing mature scheme, all the advantages of PoST are realized by superposition, and the current technical dilemma of Filecoin is broken down one by one. Compared with the long project cycle and huge goal setting of Filecoin, CVNT pays more attention to the large-scale implementation of commercial level decentralized applications, supports the current Internet projects migration and traditional entity enterprise asset digitization, including the integration of baas technology into its own business.

RR dVod is a decentralized and innovative video network system deployed on the CVNT value conscious network, which carries 20 million users of YYeTs to deploy on the chain. The product system covers three functional modules: video content player / distribution / search, high-quality content investment and equity, and distributed DSN.

Because of the extraordinary competitiveness of RR dVod, many people think that CVNT is likely to become a big Mac project in 2021. In addition, from the recent situation, the most difficult part in the development of CVNT is close to completion. In the Q1-Q2 roadmap released in January, we can see the four major update plans of CVNT. Each of these updates points to the huge market of billions of dollars, reflecting the high thinking of the project core team on the implementation and evolution of blockchain technology in the past two years. These include:

(1) Evolving the pest consensus

Build general level decentralized (distributed) storage infrastructure

The essence of blockchain is distributed and decentralized. One of the bottlenecks in the development of blockchain is the distributed storage capacity. Especially for most basic public chains, how to store a large amount of data in their main chain is an urgent problem. The future distributed application (DAPP) wants to become a super application widely used by the public, it must also solve the storage problem. Therefore, the distributed storage of CVNT is likely to become the infrastructure of the future blockchain industry, which brings us huge imagination.

(2) Redefine the operation mode of erc20

IPFS and Filecoin adopt the post storage capacity consensus algorithm to realize the main storage chain, but it is almost impossible to achieve good integration in terms of smart contract and virtual machine. CVNT introduces a multi language supported smart contract virtual machine to realize a function similar to “bridging”, that is, CVNT is allowed to run smart contracts of other blockchain projects, and other blockchains are also allowed to run smart contracts of CVNT.

(3) The next generation of smarter smart contracts

CVNT’s smart contract is an extremely secure and stable next generation smart contract, which extends and supports new business application level functions such as NFT’s registered assets, and fully supports decentralized applications to protect privacy. This will enable CVNT network to support the requirements of many enterprise level blockchain applications, which is an extremely broad blue ocean market.

(4) Improve the scalability of the underlying public chain and avoid hard bifurcation

CVNT VRF consensus main chain relies on the random algorithm with little computation and almost no delay. In terms of scalability, the algorithm can make a great breakthrough. At the same time, only one block with the highest priority is notarized every time, which means that the blockchain will hardly bifurcate. Based on this, if new technology appears in the future, it can be easily added to the CVNT system, which is conducive to the upgrade and iteration of the system.

To enjoy the sweet asset growth brought by high-quality digital assets now is the result of “fundamental investment is kingly investment” and taking investment actions accordingly when there is panic in bear market.

Therefore, from the framework of CVNT and the current operation of the main network, we can see the determination and courage of the team to open up the era of public chain 3.0. Every step is steady, willing to invest resources for the technical vision, and the promised technical milestone never jumps. It is a real basic strong project.

20 million users have joined CVNT. The future is beckoning to you. What are you waiting for?

 

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Ethereum Name Service (ENS): Riding High on Recent Innovations

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Ethereum Name Service (ENS): Riding High on Recent Innovations

The Ethereum Name Service (ENS) has emerged as a standout performer among the top 100 cryptocurrencies, thanks to recent advancements and a significant price surge.

ENS Price Surge and Innovations

In the past 24 hours alone, the price of Ethereum Name Service (ENS) has surged by 17%, marking it as one of the top performers in the altcoin market. This growth is part of a broader trend that has seen ENS rise by an impressive 29% over the past week, alongside other notable cryptocurrencies like Lido.

Multichain Expansion and Product Updates

One of the key drivers behind ENS’s recent price surge is its expansion beyond the Ethereum network. Previously limited to Ethereum-based addresses (.eth), ENS now allows users to link their addresses to public keys on other blockchains such as Bitcoin and Solana. This multichain capability has significantly enhanced the utility and interoperability of ENS, attracting increased interest from investors and users alike.

Future Plans and Community Governance

Looking ahead, ENS is poised to expand further by integrating with Ethereum Layer 2 networks, a move currently under consideration through a community vote in the ENS-DAO. This strategic initiative aims to leverage Layer 2 scalability solutions to enhance transaction speed and reduce costs, thereby improving overall user experience and adoption.

Technical Analysis and Price Targets

At its current price of $26.57, ENS is trading near its annual highs, reflecting strong bullish momentum. Analysts anticipate a potential breakout above key resistance levels, particularly the $27.42 to $28.94 range. A sustained move above these levels could propel ENS towards new annual highs above $30.50, with further upside potential towards the $38.34 to $41.78 range in the medium term.

Chart Technical Outlook

Chart analysts highlight the importance of overcoming resistance levels, particularly the critical hurdle at the December 2021 high. Successful breaches of these levels could pave the way for ENS to target higher price zones, potentially reaching levels around the Golden Pocket at $54.22 and beyond.

Market Sentiment and Strategic Positioning

The recent performance of ENS underscores its appeal as a strategic bet on Ethereum’s ecosystem growth. As Ethereum explores new market opportunities, including the potential introduction of spot ETFs, ENS stands to benefit from increased adoption and investor confidence in blockchain innovations.

Conclusion

With its recent price surge and strategic innovations, Ethereum Name Service (ENS) continues to demonstrate its potential as a leading player in blockchain-based naming services. As it expands across multiple blockchains and enhances its technical capabilities, ENS remains well-positioned to capitalize on the evolving landscape of decentralized applications and digital asset management. Investors and enthusiasts alike are closely watching ENS as it navigates towards new milestones and broader market acceptance in the coming months.

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Blockchain in Healthcare: Germany’s Struggle to Embrace Innovation

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Blockchain in Healthcare: Germany's Struggle to Embrace Innovation

Blockchain technology holds immense promise for revolutionizing healthcare by enhancing data security, transparency, and patient control. However, despite its potential benefits, Germany lags behind in adopting blockchain solutions within its healthcare system.

Potential Benefits of Blockchain in Healthcare

Blockchain technology offers several advantages that could significantly benefit the healthcare sector:

  1. Enhanced Data Security: Blockchain provides a decentralized and tamper-proof ledger system, ensuring the security and integrity of sensitive patient data. This can prevent data breaches and unauthorized access, addressing one of the primary concerns in healthcare.
  2. Improved Transparency: The transparent nature of blockchain allows for enhanced traceability of medical records, pharmaceuticals, and supply chains. It can verify the authenticity of medications and streamline regulatory compliance.
  3. Patient Empowerment: Blockchain enables patients to have greater control over their health data. They can securely share their medical records with healthcare providers as needed, promoting personalized and efficient care delivery.
  4. Facilitating Research: Blockchain’s ability to securely store and share data can accelerate biomedical research and clinical trials. It simplifies data sharing among researchers while maintaining patient confidentiality and consent.

Current State of Blockchain Adoption in Germany

Despite the potential benefits, Germany has been slow to integrate blockchain technology into its healthcare infrastructure. Several factors contribute to this lag:

  1. Regulatory Challenges: The heavily regulated nature of the German healthcare system poses significant barriers to innovation. Startups and innovators face bureaucratic hurdles and stringent compliance requirements, discouraging them from developing and implementing blockchain solutions.
  2. Data Protection Concerns: The General Data Protection Regulation (GDPR) in the European Union sets high standards for data protection and privacy. Blockchain’s inherent transparency and immutability can sometimes conflict with GDPR principles, such as the right to be forgotten and data minimization. Achieving compliance while harnessing blockchain’s benefits remains a challenge.
  3. Perception and Awareness: Public perception of blockchain technology, often associated with cryptocurrencies and energy consumption concerns, also impacts its acceptance in healthcare. Healthcare decision-makers may harbor skepticism due to these associations, hindering widespread adoption.

Initiatives and Challenges

Germany has seen some promising initiatives despite these challenges:

  • Pilot Projects: Initiatives like the DECADE project in cancer research and blockchain-based solutions in pharmaceutical supply chains by companies like Merck and Gerresheimer demonstrate initial steps towards blockchain integration. However, these projects remain isolated and experimental.
  • Regulatory Frameworks: The Federal Ministry of Health has shown interest in blockchain through workshops and pilot project funding. However, translating these initiatives into scalable and integrated solutions across the healthcare sector remains a formidable task.

Overcoming Challenges and Moving Forward

To overcome these challenges and unlock blockchain’s potential in healthcare, several actions are essential:

  1. Collaboration and Education: Close collaboration between technology developers, regulators, and healthcare stakeholders is crucial. Education on blockchain’s benefits and how it can align with GDPR requirements is necessary to build trust and support.
  2. Investment in Research and Development: Targeted investments in research, technology infrastructure, and data protection-friendly innovations are needed. This includes modernizing IT systems and developing interoperable solutions that integrate seamlessly with existing healthcare frameworks.
  3. Policy Support: Policymakers must create a conducive regulatory environment that balances innovation with data protection standards. Streamlining approval processes and providing incentives for blockchain adoption can spur innovation in healthcare.

Conclusion

Blockchain technology holds transformative potential for healthcare in Germany, offering solutions to longstanding challenges in data security, transparency, and patient empowerment. However, realizing this potential requires overcoming regulatory hurdles, addressing data protection concerns, and fostering a supportive ecosystem for innovation.

By navigating these challenges and embracing blockchain’s capabilities, Germany can position itself as a leader in developing secure, transparent, and patient-centric healthcare solutions for the future. The journey towards blockchain integration in healthcare may be complex, but the rewards in terms of improved patient outcomes and operational efficiencies make it a journey worth pursuing.

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Europe’s Crypto Industry Eyes Potential Benefits Under New EU Parliament

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Europe's Crypto Industry Eyes Potential Benefits Under New EU Parliament

The recent European elections have ushered in a new European Parliament poised to govern over the next five years, potentially shaping policies that could impact the cryptocurrency industry across the continent.

With 185 million voters from 27 member states participating, the elections have brought significant changes to European politics. This includes a stronger representation from the far-right wing, a consolidated European People’s Party (EPP), and a notable decline in seats for the Greens/European Free Alliance (Greens/EFA).

Amidst a complex political landscape characterized by differing opinions on crucial issues like EU fund distribution, migration policies, climate action, and defense strategies, Europe has historically maintained a relatively favorable stance towards the crypto and blockchain sectors.

The question now is whether the new EU Parliament will continue to support and potentially advance regulatory frameworks conducive to the growth of cryptocurrencies and blockchain technology. Insights from the European crypto community, as shared with Cointelegraph, indicate cautious optimism about the implications of the election outcomes.

Markus Ferber, a German MEP representing the EPP, highlighted the EPP’s role as the largest and most influential group in the European Parliament with 189 seats. Ferber emphasized that the EPP’s approach tends to be pragmatic and technology-neutral in regulatory matters concerning crypto. He noted that the EPP’s risk-based approach considers use cases rather than imposing blanket regulations solely based on the technology involved.

Ferber observed a significant shift in the composition of the EU Parliament that could alleviate pressures on the crypto industry. He pointed out that center-left parties, historically inclined towards stringent regulations on the crypto economy, had lost considerable representation in this election.

The decline of the Greens/EFA, which lost 53 seats, further underscores potential changes in policy orientation within the EU Parliament. This shift could translate into a more favorable environment for crypto-related legislation and innovation across Europe.

As the new EU Parliament settles into its responsibilities, stakeholders in the crypto industry are hopeful that the legislative framework will continue to evolve in a manner that supports innovation while addressing regulatory concerns. The coming years will reveal how the balance of power and political dynamics within the EU Parliament shape the future of cryptocurrencies in Europe, reflecting both challenges and opportunities in this rapidly evolving sector.

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