In case you have been away, a lot has happened with covalent.ai around the last 2 months. From exchange listings to very good partnership and also the main event which was the public testnet nicknamed COVA-Nyx was released.
Starting with the exchange listing, covalent.ai was listed by two big exchanges, firstly huobi, later on. bitmax which is a newly released exchange site doing great right now. And as of the time of writing this the cova/usdt pair has the largest volume on bitmax trading at $0.001844 with a volume of $172.17k while on huobi the Cova/BTC trading pair has a volume of $0.001754 with a volume of $126.19k. Take note that the cova/usdt pair is only available on the bitmax.io exchange as part of the partnership agreement Cova had with bitmax exchange.
Also, cova secured a partnership agreement with a top blockchain company called terra. Terra as a group has various Korean exchanges and some of the top and largest e-commerce companies in Korea. Some of these partner names include Upbit, VC firm, Woowa Brothers, Qoo10, Carousell, Pomelo. And the biggest part is the combination of all the terra partners boost of over 40 million customers and are worth $25 billion in their transaction volume annually. Covalent.ai will in some way use this to their advantage by providing privacy data security to some and all of the various partners of terra, fulfilling some part of the agreement.
To the main event, the public testnet was at last released some time in the middle of December and at the time of the release, cova boasted of over 192 nodes and also could perform an estimated 500,000 operations per second. With this early performance, cova was able to boast of a processing power that is 30 times more powerful than ethereum. Miners can be able to freely join the network as it is a decentralized network. The codes are also open sourced which means that one can be able to get them on the github repository of cova. Cova has some pretty good features such as:
Providing a Framework for writing privacy preserving Dapps using python.
A Framework to give users data access control enforced at runtime via python ByteCode evaluation.
A native SGX support for full python scientific computing stack.
A persistent and scalable TEE network running CovaCore.
A permissionless TEE ComputeNode architecture and mining through useful computation.
And many more features in which you can’t find on any other network using the TEE software.
In case you found this article and you will want to take a peek at how the covalent public testnet works, I would advise you to gently go through the documentation https://docs.covalent.ai/ there you will find all the necessary information you need to get started with the public testnet. Things like learning how to fully deploy the testnet locally as well as how to report bugs, join the open source development can be found on the documentation.
You can also find the link to the network status dashboard http://covalent.ai/status
As at of the time of writing this, cova had a total of 98 nodes on the public testnets you can see in the image above.
I though believe that the real test of the cova network will be once the mainnet is released.
Find Cova on the following links
Website: http://www.covalent.ai
Telegram: https://t.me/covalentofficial
Twitter: https://twitter.com/covatoken
Medium: https://medium.com/@covatoken
Reddit: https://www.reddit.com/r/Covalent_Official/
Github: https://github.com/covalent-hq/wiki/wiki