COVAL UPDATE 0617
This month’s update will be shorter than usual but expect to have a follow-up in July with more details. We’re going to mainly mention some of the technology that we have chosen to use as part of the COVAL platform.
First, we would like everyone to know that COVAL is no longer a side-project. We are now dedicated at full-time capacity and are also expanding the team with both core and partner resources. This new level of focus will allow us to more rapidly advance the COVAL platform and our initial projects that will use the platform. We’ll also be able to soon provide a developer hub with tools and documentation on how to use our platform. Additionally, we are working with a team of software testing specialists to help us harden our core and make the COVAL platform robust, secure and efficient. We are especially focused on our off-chain crypto token transport tech.
Our business developments are also moving forward. Both technology and CORD partners and relationships are forming and we’ll discuss some of these now.
Our first CORD partner will be Simon Edhouse and the Bittunes indie-music platform. Simon will release an official statement soon.
Bittunes effectively creates a merit based competitive marketplace for Independent Music. This allows Artists to self-publish.. independent from outdated music industry and legacy financial systems. As each sale occurs the Artist receives their payment instantly, and a selection of previous buyers of that track also share micro earnings in bitcoin.. instantly, anywhere in the world.
The Bittunes app currently has users in more than 90 countries with around 60% of these being Artists, (musicians). The company is currently developing Bittunes 2.0, a cross-platform web service, to make Bittunes available to a much larger audience.
We are excited to work with Simon on integrating Bittunes with the COVAL platform and awarding the Bittunes community of artists with a portion of the 100m ₡OVAL from the CORD Fund. We hope that this injection of value into that great community will be helpful and meaningful to a lot of talented and brave musicians.
More details will be released in future updates as this partnership proceeds.
The process behind CORD has been interesting as we set out to effectively give away “money”. Though the value fluctuates because this is crypto, we look at it as about 100m pennies to give away.
The process and concept of CORD is also opening up new ideas amongst our team which we are exploring… So CORD may be modified and expanded in exciting ways. With that said, we will be spending more time and resources on CORD so expect a new website and messaging on what CORD is and what criteria we are looking for in an ideal partner and recipient of funds. We will also be considering feedback that we have received on the CORD token offering.
Also, terms and conditions will prevent CORD partners or their users from selling the COVAL currency in a way that would negatively affect the market price.
This will all be more clear in July as we boil things down on our end. In the mean time, feel free to suggest projects, companies and organizations that you think we should consider by going to the cord.fund website.
The COVAL Platform is a combination of our own technologies and partner technologies. Being pragmatic technologists, we know when we need to leverage other great tech as opposed to reinventing. Here is a short list of some important technology partners and platforms that we have decided to use within the COVAL Platform.
UNLOQ.i0 — Our off-chain value token transport system is an important core component of COVAL and part of this system leverages Multi-factor Authentication technology. We have partnered with UNLOQ who we think are doing a great job in this field and they have been highly available to assist us when we have questions. Expect a custom COVAL mobile app with UNLOQ integrated as well as various web integrations such as on VOCAL and elsewhere.
Audiowatermarking.info — Alex Radzishevsky is a brilliant audio engineer who has partnered with us since last year on our “audio wallet” concepts. Though we have had to shift focus in recent months, it is obvious that we will circle back into this area as our platform matures and apply it to what we call “odeokee”. Audio and video files with encrypted watermarked data will become increasingly important not only on VOCAL but elsewhere too. We are appreciative of this partnership and look forward to a continuous relationship with Alex as we co-invent unique crypto watermarking solutions together.
Multichain.com — We have been chatting with Gideon Greenspan for years now and were early adopters of both Coinspark and Multichain so we are big fans of this team’s perspective on blockchain and their careful pragmatic approach to building a software solution after years of listening to their clients and developers and anyone with logical insights. The result is a solid performant blockchain package that is still backward-compatible with Bitcoin APIs. We at COVAL have decided to use Multichain for some of COVAL’s purposeful sidechain ledgers and we have been happy with that decision.
Kadena.io Another “under the radar” project that we admire greatly is Kadena and their open-source Pact smart contract language. Kadena has solved a blockchain scalability issue that most if not all other solutions have been unable to achieve. We’ve been following Will and Stuart’s Kadena platform since it was called Juno as a JP Morgan internal blockchain labs project. What first drew us to it was its practical transaction confidentiality approach. It’s been a pleasure talking to them and learning more about their platform and we anticipate using Kadena for some of our purposeful sidechain ledgers, particulary when we need to use smart contracts (along with ethereum) and as part of our future sidechain scaling strategy.
Counterparty.io Our core currency runs on the Bitcoin Counterparty Platform as well as various other crypto assets that we use for internal projects such as COVAL ZERO. We’ve written about our opinion of Counterparty before and will just state that nothing has changed and we are confident that we can continue to use this platform and that many improvements and enhancements will get pumped out. This is a great project with great people behind it. COVAL’s relationship will be symbiotic and we look forward to co-evolving in the coming months.
Disclosure: Michael Sullivan is one of the Foundation Directors at Counterparty, recently elected for a 1 year term.
Our first to launch internal project (we consider these our labs token projects) looks like will be COVAL ZERO. We think it will be available for use sometime in August. We have decided to use an auction model for registering names and will be working with Tamas, the main developer of ZeroNet, to make this service integrate as much as we can into the ZeroNet platform.
COVAL ZERO will also have a companion web browser that will handle by default the resolving of ZERO names to p2p “zites”. This web browser will be a fork of Beaker Browser which we absolutely love. I have talked quite a bit with the main developer, Paul Frazee, and really admire this project and his perspectives on p2p, decentralization, blockchain and cryptocurrencies.
The Beaker Browser uses the DAT protocol and natively handles p2p websites similar to ZeroNet. We think it’s too cool to have the power of DAT in a web browser with fork-able p2p websites AND have it support ZeroNet, a similar p2p project, in the same web browser app.
Since we also use DAT in other ways (i.e. odeokee) we are excited to extend DAT’s use further within the COVAL landscape by using Beaker Browser. The COVAL Browser will not just be ZERO specific and will be used as a desktop app to encompass many of our projects, apps and websites as well as support other Counterparty crypto assets that are used to resolve to websites and apps (p2p or http). More details soon.
COVAL PRISM and PACK
Earlier this month, we began the process of collaborating with Shapeshift to integrate with their Ethereum smart contracts that run the Prism Portfolio service. Since Prism is a brand new service, they are still being cautious and working to do thorough security audits before rolling out full access to APIs and ABI functions to developers. We have been able to get started with preliminary work to get an integration going and work on some interesting features to provide enhanced Prism portfolios that will also integrate with COVAL PACK. The Shapeshift team has been great, especially considering that they have been going through a very busy time with the launch of Prism and because of various blockchain problems due to ICOs that effect their services negatively.
Summer of Code
We will have a busy summer working on all things COVAL and look forward to publishing our next update.
Enjoy the summer!