FREQUENTLY ASKED QUESTIONS
The CyberVein network is the first Distributed Ledger System allowing for the decentralized management of complex databases on the blockchain itself, without requiring centralized storage providers. This novel implementation of blockchain technology is only possible thanks to improvements to DAG ledger design developed by CyberVein.
WHAT IS A DECENTRALIZED DATABASE, AND HOW IS
THIS DIFFERENT FROM STORING OR HASHING DATA ON A BLOCKCHAIN?
In the traditional sense, data is never really “stored” on a blockchain. When a dataset is hashed to the blockchain, this hash merely signifies the existence of this data at a certain point in time. This is useful to proof the state or content of data, very much like signing a document and storing it in a vault. Databases, on the other hand, are interactive tools to analyze and process data in real-time and to derive insights thereof. This functionality is the backbone of the information age, it’s what enables us to turn data into knowledge. CyberVein, for the first time, allows this process to occur in a decentralized, trust-less, an immutable environment.
HOW IS A DECENTRALIZED DATABASE DIFFERENT
FROM STORING AND SHARING A SPREADSHEET ON A DISTRIBUTED STORAGE SERVICE, SUCH AS IPFS, ETC.?
A file containing a spreadsheet, stored on IPFS, would indeed be hosted in a distributed way, but the database itself would not be decentralized, or immutable for that matter. Information maintained on CyberVein databases is protected from tampering, just like bitcoin transactions on the blockchain. No one, including parties to the database, can corrupt its records, delete it, or tamper with its processing history. Moreover, all entries, modifications, and amendments to CyberVein databases are stored as appended smart contract transactions. This means that a CyberVein database automatically contains all previous versions of itself. The exact state of a database at a given time and date can easily be reconstructed, making it ideal for shared, immutable processing of data. On top of that, CyberVein databases exist within a network. Data can be easily referenced and interlinked, while preserving a continuous chain of trust and immutability.
YOU’RE USING THE PHRASE “A UNIVERSAL NETWORK
OF DECENTRALIZED DATABASES”, AND ARE OFTEN CALLED THE “INTERNET OF DATABASES”. WHY DO DIFFERENT DATABASES, USED BY DIFFERENT PEOPLE, NEED TO CONSTITUTE A “NETWORK”, AND HOW IS THIS NETWORK LIKE THE INTERNET?
CyberVein databases exist within a network. Data can be easily referenced and interlinked, while preserving a continuous chain of trust and immutability. This is significant since the value of data increases with context. Knowing, for example, how many cars are being imported to a country, has some value attached to it. If you cross this information with data on how many new roads are being paved in the same country, you can derive all kinds of insights and projections on the subject matter that couldn’t have been derived from any of these sets separately. CyberVein is designed to allow users to monetize datasets of this kind, which other parties can then access and incorporate in their work, while preserving an immutable linkage to how this data was created and processed. This network of information is what we call “The Internet of Data”.
WHAT TECHNOLOGIES DID YOU DEVELOP (OR
IMPROVE) TO BUILD THE CYBERVEIN NETWORK?
Traditional blockchains are not designed to store vast amounts of structured data, especially if this data is being constantly processed by many participants in parallel. In order to build a network of decentralized databases, CyberVein iterates on DAG, Directed Acyclic Graph technologies, introduces a novel resource-conserving consensus mechanism, and modifies the Solidity contracting language to adapt it for the processing and monetisation of vast amounts of data.
HOW IS CYBERVEIN’S DAG DIFFERENT FROM
OTHER DAG LEDGERS?
CyberVein’s DAG offers turing-complete smart contracting capabilities, introduces a resource-conserving consensus algorithm (PoC) which incentivises the contribution of storage capabilities, and removes the need for privileged “Master Nodes” or “Coordinators”, which most competitors rely on.
WHAT IS PROOF-OF-CONTRIBUTION(POC)?
Proof of contribution is a resource-conserving consensus algorithm, developed by CyberVein. Proof of Contribution measures the amount of disk-space a node donates to store parts of the ledger’s transaction history (or ledger “shards”), and compensates accordingly. Since disk space is a scarce resource, PoC serves as a barrier to outcompete other nodes in the verification process, making attacks costly and infeasible. In this sense, PoC uses disk space the same way PoW uses CPU\GPU resources, only that on CyberVein this resource is put to useful work, rather than wasted.