What is Circuits of Value (COVAL)?

Circuits of Value (COVAL) is a decentralized network created for cryptocurrencies that allows for direct peer-to-peer communication. It offers reliable and efficient payment transactions not only with COVAL itself but also with various other cryptocurrencies.

COVAL serves as the underlying technology for its native cryptocurrency and other platform coins. Transactions are secure and immutable thanks to blockchain technology. COVAL's sidechain asset is Emblem, native cryptocurrencies are stored in wallets, and individual tokens are injected into the blockchain. The Emblem Vault represents payments that include both of these entities.

Key Features of Circuits of Value

COVAL Technology

COVAL's DAT protocol is a hypermedia mode that supports online updates and on-demand copying. Users are provided with a public key and a file store with a SHA-256D address for browsing as needed.

The COVAL cryptocurrency utilizes multi-span technology and acts as a blockchain platform for sidechain ledgers. It enables users to control transactions, issue assets on the blockchain, and create new blockchains in just two steps. Additionally, it offers features like timestamping, encrypted storage, and shared metrics.

Main Function

COVAL Prism, developed by ShapeShift, is a collaboration between ShapeShift and COVAL. It utilizes Ethereum-based smart contract software to enhance crypto asset listings. Users can share their investment statistics, either fully or partially, and distribute profits to other Prism token holders or issue shares as tokens. Fees are paid as COVAL and ShapeShift fees.

What Problems does Circuits of Value (COVAL) Solve?

Circuits of Value (COVAL) aims to address the challenge of moving tokens through a method that reduces the workload on the main chain. By enabling users to achieve the same possibilities with a single transaction instead of multiple ones, including multiple tokens, COVAL provides a solution to this challenge.

Moving Value via Off-Chain Methods

In order to alleviate congestion on the Ethereum network, which affects both Ethereum and coins built on it, projects like Circuits of Value have implemented off-chain transactions. This approach involves recording only the final result on the blockchain instead of processing every individual transaction, similar to Bitcoin's Lightning Network.

Enhanced Flexibility, Security, and Affordability of Transactions

Circuits of Value enhances security for off-chain transactions and reduces the cost of sending transactions by consolidating multiple smaller transactions into a single one. It also offers flexibility by supporting any EVM-compatible coin or token, making transactions more affordable and accessible.