Analysis News

Hot Airdrops: Covalent (COVA)

Pending Round 3 of Covalent COVA tokens airdrop!

Covalent team just finished Round 2 of its airdrop. Everyone from crypto-community was able:

  1. To earn 100 COVA ($15) for joining Telegram group.
  2. To earn 50 COVA per referral ($7.5) for adding members to this group.

The 2nd round of airdrop is over with 1,000,000 COVA given out.

It is recommended to stay tuned for the 3rd round of airdrop as announced on airdrope page http://community.covalent.ai and in Telegram group t.me/covalentofficial.

The last in time post about airdrop is as follows:

– Hey all: we don’t have the airdrop running as of now. We will run one very soon. Please stay tuned.

There are 38351 members at the moment joined to the official Covalent Telegram group.

Covalent is a privacy-protected data network that utilizes a decentralized computing network to ensure that data is encrypted at all times. The project will provide “military-grade privacy for all”. All data and models on the Covalent network are confidential. The military-grade security and privacy provided by Trusted Execution Environment (TEE) are propagated throughout the entire computational network. Furthermore, Covalent’s scheduling system supports both High Throughput Computing (HTC) and Low-Latency Production (LLP).

Covalent is pushing the boundary of scalability too. The Covalent smart contract scales massively through off-chain computation. If to compare to Ethereum that can not achieve parallelization or sharding in smart contract execution, and the entire Ethereum network only has the computational power of 1 machine – Covalent performs massively parallel execution of smart contracts. The computational power of the Covalent network is the sum of that of all its nodes. Additionally the Covalent protocol will solve the data utilization problem and create a trustless world database. In Covalent’s trustless world database, anyone can utilize others’ data without infringing on their privacy. Developers will choose to build their dApps on Covalent because of this shared data layer. There are two that already launched.

  • Medata is the first decentralized application built on top of Covalent. It is a privacy-preserving medical data marketplace.
  • Covalent X uses futuristic technologies to solve data privacy problems. This first design used Fully Homomorphic Encryption (FHE) and zk-STARK to achieve a trust-less setup for privacy computation.

Covalent is created by Singapore’s team. There are some investors/partners:

Token sale period is not set. The goal of crowdfunding is not announced. And the Whitepaper contains only technical data and formulas.

But ICO Drops score is marked as HIGH INTEREST.