CVNT Mining AMA Recap
Last night(11th Jan.), we have invited CVN founder, Neo Wang, to share CVNT Mining project to our community. The following is the recap of this AMA:
Host: Today we have none other than Neo Wang, Founder of CVNT joining for the AMA today.
Welcome @Neo_WangCWV 🙂
He has been an entrepreneur for 17 or 18 years and have been active in the domestic Internet technology industry.
In 2016, He started to enter the blockchain industry. I co-founded Beijing FanRong Technology Co., Ltd. and served as CEO.
In 2017, He initiated CWV Public chain project and have been managing CWV Foundation.
He is the first batch of blockchain practitioners in China’s blockchain industry.
And at the end of this year, CWV has changed it’s name into CVNT.
Neo: Hello everyone!How are you today?
After the market volatility, are you still confident about 2021?
well I think the most painful anxiety recently is the Bitcoin’s rapid development has nothing to do with ourself. This is a true portrayal of most individual investors.
The magic year 2020 has finally come to an end. we think the third bull market may have come. Investors, industry workers, miners, exchanges and investment institutions are all ready for this bull market.
I think today’s drop is a healthy pullback, if the BTC is not pullback, then it is unhealthy and bubbly.
After the ups and downs, the BTC stage can be suspended for a period of time, followed by the mainstream coin performance time:muscle:
From a macro perspective, the blockchain industry is constantly iterating. At present, there are opportunities everywhere in the fields of decentralized storage, DeFi, NFT and stable currency. Some vertical projects accumulated in the Internet era are also developing in a better direction. These are good signals.
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.
Recently, our app RR dVod (an online video platform with 20 million active users and data globally) has been promoted by tens of thousands of part-time translators and nearly 100,000 translation enthusiasts from around the world.
I am happy to report that the overall development of the CVNT Conscious Value Network is progressing well. The future is becoming more and more clear, and many institutional investors around me see CVNT as a rare INVESTING opportunity.
Cryptocurrency projects are ultimately a competition for capital. For ordinary people, opportunities will only appear in the earliest stage, and only when big money does not come in bulk. This is the lesson Bitcoin give to us.
CVNT as a traditional public chain project, you should know the whole storage public chain track, here I will not repeat the previous content.
OK, a little bit introduction for our new coming friends.
The CVNT Conscious Value Network is dedicated to solving the problems of low performance, poor security, high development difficulty and over-reliance on fees of existing blockchain applications, enabling performance scaling and decentralized storage of distributed applications.
Compared with Filecoin, which also uses PoST consensus, CVNT’s main network was launched earlier. Currently, the block height is nearly 50 million, TPS/ CTPs are over 50,000, and the number of supernodes is 100.
Instead of Filecoin being too long and too ambitious, CVNT is focusing more on scaling up to commercial-grade decentralized applications, including integrating the required BaaS technology into the business.
RR dVod is a decentralized and innovative video network system deployed on CVNT Awareness Value Network. It has deployed the data of 20 million users on the main chain of CVNT, and its product system covers three functional sectors:
-video content player/publishing/distribution/search,
-premium content investment and
Many people think CVNT is likely to become a mega-project by 2021.
RR dVod is the most significant substantive product of CVNT Conscious Value Network in the application of blockchain. CVNT is a value network of distributed storage and video (content) transmission consisting of multiple user nodes (hubs).
On the one hand, video, software, music, pictures, games and any other third party with demand for network resources can easily access, use, and deploy on RR dVod, enjoying the ecological convenience and becoming an ecological builder.
On the other hand, RR dVod provides massive Distributed storage space, high QoS (Quality of Service), encrypted data transmission Service, while using DHT (Distributed Hash Table) to achieve complete decentralization, users who have computers, mobile phones, TV boxes can join it.
Anyone can upload their work through the CVNT network.
Users can find and download data in the CVNT network through RR dVod browsing, searching, etc.
Through CVNT token, RR dVod can better collect bandwidth and storage resources, intelligent scheduling to serve all the enterprise users who need the optimal form, and make use of the advantages of the token economy in transparency, trustability and incentives to quickly achieve scale economic benefits.
The investment logic for CVNT tokens is very similar to that of real estate.
They have both use value and investment value, both of which jointly affect the trend of prices, and the investment demand is dominant.
In other words, the price of CVNT tokens is generated based on the market supply and demand relationship. When the trading volume of the main chain is large, the demand for tokens will be large. With the innovative destruction mechanism, the circulation of tokens will be less and less, resulting in the total market quantity being lower than the demand, and there is a clear scarcity from the perspective of investment.
In addition to RR dVod, another major landing scenario for CVNT tokens is DEFI, such as our incubated CVNT net-based lending, futures contracts, stablecoins, exchanges, investments, insurance, etc. WILL SOON LAUNCH AND MEET YOU ALL
CVNT supports project incubation and coin issuance in the way of blockchain + Internet. In short, star projects with tens of millions of users on the Internet are upgraded to distributed financial blockchain projects to issue TOKENS on CVNT chain.
To summarize the major features of CVNT tokens
-The fundamental characteristics are very strong,
-The number of users is large and the application scenarios are rich,
-The market consensus is strong.
So In the face of BTC all the way up, in addition to anxiety, whether there are other ideas? The anxiety is to see only the “BTC profit” that we are missing, but we should be more excited about the potential opportunities for future non-BTC assets.
Pay more attention to CVNT, which is an incremental market that can be created and has rich application scenarios for CVNT tokens.
Strong ability to develop smart contracts and to attract and carry DAPPs, which is specifically reflected in the scale of developer community.
The more users there are, the greater the consumption of resources, and the more CVNT TOKENS needs.
Thank you for listening to me and any questions are welcome.
Host: Thank you Neo Wang. It was really helpful for both new comers and existing community members.
Now let’s start further with the Twitter Questions that we receieved
Question 1 is by cryptodefi2020.
The idea of the CONSIOUS VALUE NETWORK project is really unique and incredible, how did this idea come about?
Neo Wang: As I just explained, The “Conscious” proposed by this renaming of Conscious Value Network is of great pioneering significance, which is inspired by the law of entropy increase, the law of the development of the universe.
Conscious Value Network is to underscore the importance of group consciousness, which is the power of consensus, and give full play to it to escort the future development. We will bring a new consciousness revolution to the blockchain industry.
Host: Thank you. sounds good.
Question 2 is by PhamHuo01951923
Could you give me 3 best features to convince me and other investors should invest in CONCSIOUS VALUE NETWORK?
Neo Wang: The new meaning of CVNT has the following manifestations: block height of nearly 50 million blocks, TPS/CTPS exceeding 50,000, support for 100 super nodes, extremely fast main chain concurrent processing speed, low handling fee, and support for simultaneous running of tens of thousands and commercial-grade distributed applications .
Positioned with a new generation of public chain infrastructure + general-purpose distributed database (storage) cloud, CVNT has become one of the most competitive mainstream public chains in the world.
Host: Okay, got it.
Question 3 is by DefiTrend2020
I am an investor and trader, so in addition to trusting the CONSIOUS VALUE NETWORK project, I also want to make a profit, so there are strengths and benefits that make investors trust?
Neo Wang: Now we started CVNT mining. Through CVNT mining you can get a rich profit.
CVNT mining is a mining method based on computing power. Computing power will be the most determining factor in mining performance. Miners must own certain computing power to start mine.
We hope to provide maximum support and funds to those who are interested in CVNT and eager to give it a try through online activities, competitions and other activities, so that more people can experience CVNT and fall in love with CVNT.
When the user buys the computing power and it starts to generate a return. All the revenue is in CVNT currency, including computing power mining earnings, mining pool rewards, and referring rewards.
Host: Question 4 is by RajniCh02568990
I heard that CVNT mining has started. Can you tell me how to calculate the profit of CVNT mining?
Neo Wang: CVNT Wallet download link: https://app.kimchiii.com/#/user/register/?ref=81259338
As i talked above, you can get profit from the 3 ways:
Computing power mining earnings：Every miner who has bought the computing power could get it, which is expected to achieve a maximum annualized return of 100%；
For example, if 100 CVNT purchases 100 computing power, the total income is 200 CVNT, and the daily output is CVNT = (100 * 100%) / 365 = 0.547.
Mining pool rewards：When a miner becomes the owner of a mining pool, he could receive rewards for any miners’ generation who joins his mining pool；
Referring rewards：Any miner who invites a new miner to complete registration and purchase computing power will receive a reward:
2% mining outcome from a direct invitee and 1% from an indirect invitee.
Host: Awesome! 🤑
Question 5 is by NaveenSurapure1
If I want to participate in CVNT mining, what do I need to prepare?
Neo Wang: To participate CVNT mining, you need purchase computing power through CVNT firstly. The value of computing power is the main factor to determine the mine production.
At present, CVNT needs to be purchased through other platforms ( Huobi exchange), and then withdraw the coin to CVNT wallet).
When you finish purchasing computing power, your CVNT mining journey will start. You will enjoy the rewards described above.
In addition, in order to give more benefits to our community, we are conducting a 100 lucky experience officers campaign with a prize pool of $1100. Let me introduce the steps of participating in this campaign.
Download CVNT APP and experience it:
Reminder: Please use the invitation code: 81259338（Otherwise cannot participate in the awards）
2. Post your CVNT experience on social media with tag #CVNT.
Two methods are available:
1) Text + screenshot (of CVNT app) sharing with two or more successful referrals in the CVNT app.
2) Video sharing with two or more successful referrals in the CVNT app.
3. Fill in your information and win a seat of 100 Lucky Experience Officers:
-$10 each for 90 text sharing users, please register and give your feelings and suggestions in this form:
-$20 each for 10 video sharing users, please register and give your feelings and suggestions in this form:
4. Follow us: https://twitter.com/CVN_Blockchain
*100 Lucky Experience Officers will be selected before Jan. 31, 2021.
Please enjoy CVNT and forward this good news to your friends.
Community Member: As i see, $ CWV is the Native Token of CVNT Protocol. But Could you explain what’s the main Use & Advantages of Holding $ CWV Tokens? Which types of Services are offered by CVNT Protocol to CVNT Holders?
Neo Wang: In the future, CVNT will be the only governance token for the CVN mainnet.
As the ecosystem of CVNT improves, projects incubated by CVN will use CVNT to achieve circulation in more application scenarios.
As I have just described, there are four reasons to support the short-term value growth of CVNT
First, RR dVod will be the highest quality user traffic pool in the blockchain market based on the high frequency and rigid demand for content, thus giving CVNT tokens an advantage in terms of commercial extension and extension.
dVod will provide CVNT with a circulation scenario that goes beyond the current mainstream public chain, providing real value support with a profitable business, making it competitive in terms of liquidity and deflationary effect.
Second, CVN network resource consumption leads to higher demand for CVNT tokens.
Third, another major landing scenario for CVNT is DEFI, which will see a large number of new users entering the market for loans, futures contracts, stablecoins, exchanges, investments, insurance, etc.
Fourth, CVNT consciousness value network Every transaction in the network system depends on CVNT, including: transaction fees; storage cloud fee; BaaS cost; Contract consumption, etc.
Community Member: CVNT as you move forward through your route, what is your most important next priority? Does the Ramp team have enough fundamentals (Funds, Community, ect) to achieve those milestones? Do you create events that allow developers to come into the website to search for loop holes?
Neo Wang: The most difficult part of CVNT development is nearing completion. The Q1-Q2 Roadmap, released in January, lays out four major updates to CVNT
1) Evolve the consensus of PoST to build a general level decentralized (distributed) storage infrastructure
2) Redefine the operation mode of ERC20
3) The next generation of smarter smart contracts
4) Improve the scalability of the underlying public chain and avoid hard bifurcation
Community Member: For any Crypto and blockchain projects and platforms. Security, scalability and interoperability are the most important factors. So, can you explain what technologies CVNT uses in its project to make CVNT safe, extensible and interoperable?
Neo Wang: CVN Conscious Value Network aims to address the following issues:
Network Scalability problem: the existing blockchain network is still severely restricted in terms of transfer speed, block time, throughput capacity, high concurrency, fault tolerance, stability and other aspects of the system.
There is still a long way to go before large-scale commercial applications
Consensus mechanism problem: in the existing blockchain system, any transfer needs to be agreed by all nodes in the network. Different consensus mechanisms will determine the block speed and also have an impact on network expansion.At present, various consensus mechanisms (PoW/PoS /DPOS/DBFT/VRF, etc.) have their own characteristics, but they are not perfect.
Distributed storage problem: the current block capacity is small, resulting in network congestion, where to store a large number of block data, how to store, how to store efficiently is difficult.
System security issues: frequent hacker incidents have become the shadow of the whole industry, the security of the public chain itself, vulnerability repair ability will be a prominent problem.
Faster, stronger, and safer underlying infrastructures are the imperative of today’s blockchain world.
We need an infrastructure with faster speed, stronger expansibility and more stable ecology based on smart contract. CVN consciousness value network is such a basic chain, which can bear such historical mission and is qualified to change the pattern of the whole blockchain world with high probability.
Community Member: Tell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?
Neo Wang: Yes, all our contract products have passed the audit. And the audit report was released.
The newly upgraded “VRF consensus main chain + PoST space-time proof + 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 and server cost, 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.
Community Member: Can members of the CVNT ecosystem get CWV tokens participating in the CVNT programs? What does your member incentive system include?
Neo Wang: CVN consciousness value network public chain itself plays the role of storage and value, its business logic lies in that it can reach consensus in the global scope.
CVN consciousness value network public chain also provides a new way of value store — CVNT, which can be used as a proof of the value of public chain.
Specific performance in the public chain universality, ease of use, application, commercial, as well as lower development cost and higher development efficiency.
In the CVN conscious value network ecology, CVNT has the dual properties of settlement Token and governance Token, and its price is generated based on the market supply and demand relationship.
It is a real application Token, which can fully penetrate into the application layer and incentive layer of the CVN conscious value network.
Settlement is well understood. Every transaction in the network system depends on CVNT, including: transaction fees;
Storage cloud fee, all the function fee of “RR dVod”,BaaS cost; contract consumption, etc.
Governance is reflected in the fact that each CVNT holder has the opportunity to participate in the on-chain governance of CVN consciousness value network and promote its ecological prosperity together, including node storage, retrieval, verification, etc., as well as measuring the balance of storage usage, and preventing anonymous DDoS attacks.
Host: Thank you Neo Wang for your time and knowledge. This will really be beneficial for all of us🙂