Covalent is a privacy-protected data network that uses a decentralized computing protocol to provide constant encryption. The advantages of this protocol are not only in maintaining confidentiality, but also in solving problems that other technologies could not cope with.
Covalent is widely used in many areas:
- Financial service
- Java games
The standard of the token is not mentioned. Most likely, it will be ERC20 or based on its own standard. New tokens are created through mining. Existing tokens are distributed through the system of deposits and payments.
- The miners who provide the computing power, get tokens;
- Users make deposits and payments during the transaction. In case of violation, deposits are canceled and returned back to the token;
- Developers who participate in popular contracts and dapps are rewarded for adding technical functionality and attracting new users;
- New users are rewarded through marketing campaigns and become part of the community.
Technological solutions are quite clear, understandable, the concept is good, the team is experienced, partners can also be attributed to the advantages. There is no special road map, so it is difficult for investors to assess the progress of the project. Media resources are not developed, except for Telegram. In general, despite the sufficient number of advantages, there is nothing to evaluate yet. It is too early to say whether it is worth investing.