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Jul 31 to Aug 7 UTC

Ask Me Anything About CyberVein

AMA
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The first AMA will be held soon at Coindar and we’re happy to announce that CyberVein team will be our first participant.

What is CyberVein?

The CyberVein network is the first Distributed Ledger System allowing for the decentralized management of complex datasets on the blockchain itself, without requiring centralized storage providers.

Just as the Internet is a public network of networks, CyberVein is a public network of immutable databases, on which information can easily be traded, interconnected, and transformed into structured knowledge.

AMA Details

Ask any questions about CyberVein, vote for your favorite questions and you’ll have a chance to win money prizes from CyberVein.

The prize pool is 5 500 CVT

The event is about to begin
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Questions and answers

mafioznik asks
When will you be listed on a major exchange? Are there any plans to list on Binance?
+60 USDT
The Team answers
Regarding to this question, we are already listed on several major exchanges. For example, like HitBTC, which is a very old exchange, then OKEx, obliviously one of largest exchange in the world, and along with BITTREX (Global) which is also a major exchange. For plan to list on BINANCE... maybe later, not right now, because we don’t think we ready yet. But of course, we are working on getting prepared on list on BINANCE, but it’s going to take little while. Not at this point.
LoveCrypto asks
Do you plan to collaborate with other projects to solve common problems?
+30 USDT
The Team answers
We do have a union which we have a specific name of it. But it’s not really releases to the market yet, and this project union will collaborate with many projects together to spread out the idea of data exchange along with data monetization. So it’s more like unify the solution providing platform which can gather all variety of projects regarding to the entire blockchain industry. For example, like projects emphasizing on smart contracts, and autonomic swaps, as well as on virtual machines and DeFi. Because every individual project has their own highlights, we can form a sort of union. So entire union acst like project collaborate platform. So depends on what kind of problems are there and get revealed on the platform so we can find solution.
Alexey_Drozd asks
What event most influenced the project? How?
+30 USDT
The Team answers
So, our project has gone through several phases, first of all obliviously is the private sell in early 2018. And afterwards we got list on OKEx which is approximately around middle of June in 2018, that’s definitely is one of biggest event for project CyberVein. And afterwards in 2019, we got wide listed on a smart Dubai public project. So, we did send a proposal for the Dubai government regarding to their data exchange program. We got wide listed, maybe not the best result, but it was a pretty good experience, and give us a lot inspiration on working on directions for the development of CyberVein project.
abibas asks
Will there be similar AMAs in the future?
abibas asks
Until what year was the development plan for your project worked out?
The Team answers
I think you are trying to ask for the roadmap, and the roadmap is on our official white paper, you can go on to our official website to check.
abibas asks
Where do you get funds for the development of CyberVein?
abibas asks
Until what year will you support the project?
abibas asks
Are you working on the sale of the token? I ask this because other projects have “shooting holes” as a result of which investors lose money. I was among them once.
Patreot asks
Are there any territorial restrictions on the use of your system? For example, in the case of sanctions by one of the countries.
Patreot asks
What is the biggest risk when interacting with a project?
Patreot asks
Do you have real-life examples of product use?
Patreot asks
What existing technologies can you compare yourself to?
Gwen asks
What unique features make Cybervein's DAG different from other DAG ledgers? And how do you plan to meet the stiff competition from competitors attract more users to use your platform in the future?
user833305 asks
Which project is the best example for you?
Fathermybod asks
Do you plan to switch to your own blockchain with the subsequent creation of subchains, as is done in Ethereum and Waves?
NikotosPop asks
How do you plan to tackle the storage problem when the network is overloaded with thousands of transactions across all chains?
Shortman asks
Is it possible to buy a node? If so, how much does it cost?
The Team answers
We are actually a public chain, once our main net goes launch, you don’t have to buy a node, you can just be a node, just simply download our entire ledger, and doesn’t cost anything. You have to wait until our main is officially launched.
Predactor asks
Are you planning partnerships with any major blockchain projects?
The Team answers
We have been announcing our development all along, and implementation as I said is the medical sector, so CVT plans to work with business is our next step, so we want to more people to use our distribute database like I mentioned before as well, so it’s used for business have really high need for data security. And public sector we are working with smart Dubai 2019, so that’s one part.
222Upiter111 asks
Are you taking steps towards making the project ubiquitous? For example, through partnerships with other developers?
The Team answers
Right now, we are just trying to broaden our communities, we are trying to release more news that we are going abroad. For example, our Korea team, we just set it up, we do have some official partnership with the Korea government, stay tuned for that. We have our own develop team and we are going to hold our own hackathon in China, probably by the early Septembers. I guess that’s are all strategic moves that we are making.
222Upiter111 asks
Give information about developer wallets. I want to know how many tokens they have 🙄
The Team answers
We do have a token distribution chart, if you guys are interest it, it’s in the white paper, early version of the white paper. You guys can go head and check.
Lol666 asks
What is your advantage over your competitors?
The Team answers
The advantage is time, we started early, we start at 2017 and our development team is getting bigger. We have approximately 20 programmers, and our entire consensus algorithm is out. We made our own virtual machine; those are all advantages.
Volf asks
Can I join your development team? If so, what qualities are needed?
The Team answers
Yea, anyone can join our develop team, so as long as you have experience for the database for example, Redis, MangoDB, those all relational databases, and also experiences in Solidity which is the programming language that use for Ethereum, and if you have done any blockchain projects before and can be in help of designing entire architecture, those talents are always welcome as well.
Korn asks
There are a lot of projects with similar functions now. What is Cybervein made for?
The Team answers
We are made for big data, AI...plus blockchain, we are more like a solution platform. That’s why we have our own consortium chain, we are built to monetize data, that’s our ultimate goal. And our entire integrated platform includes four functions. First is distributed data storage, and then distributed database, and then our federated learning algorithm, and our cloud computing platform. So, it’s like a fusion of the four use cases together. And then CyberVein is used as a major exchange currency inside the platform for our use cases.
Prokin asks
When will the mainnet launch?
The Team answers
The mainnet is already in the testing phase, by the end of this year. By the end of 2020 the main net will officially launch.
Hokilucky asks
What are the special features of the Cybervein project? And what the vision and mission will be achieved in the future ?
The Team answers
So, the special feature of the entire project is platform, we are an integrated platform that have several use cases, and the vision and mission is to have more clients are in desperate need our solutions. For example, we are trying to solve data silo problem in the medical field, ok let me explain this in detail. For example like two hospitals that they don’t share data together, due to regulation problem and compliance problems, but if they use our database, our federated learning algorithm can put them in the place, and the data doesn’t really leave their local source, but we can do data model training with federated learning, so we will yield with the result of the data that we train. And the result we can use those to circulate with different hospital that which is in need of those results.
xclawkevin asks
What are the main token utilities and use of tokens in real life? What strategies will the CVT team use to educate and attract people who don't know blockchain and cryptography?
The Team answers
Our main token utilities are 1) gas fee, 2) is like medium for value transfer on-chain, that is obvious in real life, because once there’s landing use cases, then you can use those tokens as exchange mediums. So, first of all, to educate CVT holders we will start to launch some online courses, regarding to blockchain technology itself, like what is blockchain? what is miners? what is consensus algorithms? what is virtual machines? What is smart contract? So, like the basic terminology explanations. And then how to register a wallet for them, everything related to the infrastructure of the learning stage. All the basic knowledge that they need.
user654498 asks
How Proof of Contribution is better than Proof of Work or Proof of Stake?
The Team answers
Prof of Contribution is more like whatever of kind the contribution you make, you get a proportion of rewards, so in Proof of Work there is a oblivious diminishing return. For example, If I’m miner in 2013, then my marginal benefit (profit) will be obliviously be higher because I don’t have such competition. Also, the reason behind that is the miners for PoW, the cost of the capital itself is very expensive. And as a solo miner you can’t mining anything you have to getting involved in mining pool. And you count the weighted return. So with competition adding on, computer power going up, your yield is going to go down. In this point POC is more like a liner return. Because at this point our number one contribution is obvious our hard storage. Because of the price of the hard storage goes linearly, so your return always goes linearly. You don’t face that diminishing return. Also prove of stake as well, the more stake you have, the more return you going to get, but they are in different levels.
remotio asks
If possible, describe what the job at CVT is all about? For example, what are employees doing during breaks, what is the atmosphere in the team? Maybe some photo.
The Team answers
There is lot of photo on our official public account on WeChat, But I guess probably you guys can’t get access. We will try to post more team photos for example like team get gathering photos into our official Twitter and Facebook. And entire atmosphere in CyberVein is really good. We have open atmosphere; people can do whatever they want as long as they do their job and accomplished their everyday goals. We are kind of like a TMT company like google, so everybody has their own things to do, and entire atmosphere is pretty open. We don’t have strict occupation policy; we are very young team.
dariachernyshevskaya asks
In June, there was a demonstration of an intermediate version of the Cybervein database software. When will the development stage end?
The Team answers
We are right now in our testing phrase, so the development stage will go on maybe until by the end of this year, but that’s only a rough estimate. We do have an intermedia version of CyberVein database. Because we are in collaboration with hospitals in China. Right Now, they are testing our software at this point. So the testing phase will last I believe in October, And then when everything goes smooth, we can have the software launched by the end of this year.
dariachernyshevskaya asks
What are the main vectors of the project development?
The Team answers
I believe already answer the questions, we are setting up a blockchain union. And the participants we will reveal those later on.
Doge asks
Which markets do you consider the most promising for the development of the project?
The Team answers
You can’t really say which market is the best, or most promising. But there is a list like Korea, Russia, India, China, North America are all really big markets. And depends on what kind of your desired audiences are. For example, if a project wants more geeks to getting to their development team, then maybe North America is the best place. But if you want secondary market buyers, like your token buyers then maybe Asian countries. For example, like China, India, Korea are really good, so depends on which stage you on. For example, right now CyberVein we need both. So currently we just started doing marketing in North America, and then we start to form our own community in India, Korea, along with Russia, and Philippines, Indonesia etc.
Alex1990 asks
What qualities of the project do you consider to be the most powerful?
The Team answers
Obliviously we have a really big community, we are worldwide, we have communities in major countries that are blockchain or crypto friendly and our develop team are sophisticated programmers as well. Our CTO he graduated from Imperial college, and our architect is a database instructor in Cambridge, that give us sort of some credibility.
Niger333 asks
What was the biggest challenge in designing and implementing the project?
The Team answers
The biggest challenging obviously is to find clients because we have to have clients that are in desperate need of use cases that are trust related. For example, if we want a real trusted big database, immutable obviously, but without central server, more like distribute server, then that is our potential client. But in implementing entire solution plan, we faced a lot of challenges. For example, we have to have enough nodes in order to make the entire project more decentralized. But if we have too many nodes, because of consensus algorithm, we want to increase our transaction throughput. So maybe there is a balancing of decentralization and scalability. So this is also a challenge that we are facing right now and we are trying to overcome the situation.
NikoYazawa asks
Has the original purpose of the project changed over time? I mean, did you have to adapt to solving urgent problems?
The Team answers
Yes, the original purpose of the project has changed over time. Because our original purpose was to increase transaction output bottom neck which Ethereum had, because we want to develop our own consensus algorithm along with our own main net infrastructure. Later on, that’s more like a public blockchain. But for public blockchain, there is a lot of barrier to entry when face into real landing use cases. So we did add new things, We do have another consortium chain which is based on medical field, those are all later add on. We add the medical distribute database use case into the entire platform. I would count that as a purpose of project. But the mainstream purpose remains the same. So, yes, we did make some small changes to adapt in to solving urgent problems.
GendalfBNB asks
When does CyberVein plan to implement or announce its developments? And when does CVT plan to work with business and the public sector?
mafioznik asks
Do you have a rescue plan in the event of a split in the development team? What are your actions? Do not think of it as FUD, but if you have thought of everything to such trifles, it will be a big plus.
The Team answers
Well... we don’t really have a rescue plan, because it’s not very necessary, the entire CyberVein team has been along with each other since 2017. And all of the key members in the team, we have keen relationship among each other. We not only team partners, but we also friends and we have known each other for very long time. For entire development team came from the raw idea. Everyone had participated inside entire infrastructural design. So, most of us get along with each other pretty well. We don’t really have potential hazard of entire team getting split. So, it’s very unnecessary to have rescue plan. But for the very low likelihood for the team getting spilt, its ok too. Because the team can already operate run by its own. It’s not very a big problem.
Magic asks
How much time does the team spend on product development?
The Team answers
All together the team has spent about two and half year on product development because we’ve been doing product development since November 2017. That was when our new DAG structure came out. And if you want to be specific maybe we spend about 8 hours per day, including some weekends too every week. So, our entire product development has never been stop. It’s just that later on we use our own version control, so we didn’t use Github, because we don’t want all of our codes to be open sourced. So, we want to keep that little intellectual property and wait for the right time to release the codes.
CryptoIsaac asks
I'm interested in the CyberVein Elite Program. Is it like a Global Ambassadorial Program? What are the requirements and what regions is the program focusing on?
The Team answers
In order to participate in the CyberVein ELITE program, you have to hold at least 300 cvt, and then we will pull you into this insider group, and in this group, we will send out latest information regarding to entire project. For example, like our road map of entire project development. And of course, we are going to review some exclusive news that is obviously exclusive, you can only get it in this group.

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