AMA Recap: CVNT Mainnet Starts The Next Era

1. To begin with, we ask today’s guest to briefly introduce himself and the CVNT public chain, and the current stage of the project?

Hello, everyone, I am Neo Wang, the head of CVN Foundation. CVN Foundation is a public chain development team after 4 years. Those who know us probably know that we upgraded from CWV1.0 public chain and merged with the original CVNT of YYeTs, and then changed our full name to CVN conscious value network.

2. What consensus mechanism is used in the CVNT public chain? What are the reasons for the choice of consensus mechanism?

Much of the focus of the public chain debate has centered on the consensus mechanism. Bitcoin’s proof-of-work mechanism achieves complete fairness, but at the great expense of efficiency. Other later consensus mechanisms have significantly improved efficiency while sacrificing fairness to varying degrees.

3. What are the advantages of the newly upgraded CVNT mainnet compared to other public chains in the industry today?

This is a very good question, our advantages are 6 points

3. What technical insights can CVNT share with us about Layer 2 network design as a representative solution for the Ether layer2 scaling track?

Layer2 is a set of solutions specifically designed to scale applications by processing transactions outside of Layer1 on the main Ethernet network. When the network is busy, the speed of transactions on the network suffers, resulting in a poor user experience for many Dapps, and the rising price of Gas makes Ether very expensive for its users, e.g., a single on-chain transaction can cost tens of dollars, or even hundreds of dollars for complex operations such as invoking smart contracts. In contrast, Ethernet Layer2 runs on top of Ethernet Layer1. Operating on Layer2 frees up Layer1 and strips transactions from the main chain. Since transactions are processed off-chain on Layer2, it increases transaction speed, speeds up confirmation times and reduces gas.

4. “Mining” has always been one of the most sought-after topics in the industry. CVNT mainnet mining is coming soon, can you introduce the basic mining mechanism of CVNT here?

One of the major features of the upgraded CVN is decentralized storage, which turns cloud storage into a marketplace for computing power, or storage mining.

5. One of the biggest advantages of “mining coins” is the relatively fair issuance mechanism, with the majority of tokens being allocated through arithmetic contributions. What is CVNT’s token allocation model?

A: CVNT has a total issuance of 200 million tokens, of which 195 million are currently locked, with a market circulation of 5 million.

6. One last question, what else does the CVNT team have planned for the second half of 2021? What is the vision for CVNT going forward?

In the second half of the year, we will kick off our storage mining and our app ecosystem, and we welcome more developers to join us and help us complete a better ecosystem.

Conscious Value Network