A Privacy-Preserving Data Utilization Protocol
Smart contract blockchain
Joyce Ji - Marketing and Media
Covalent network data and models are confidential. The security and privacy provided by Trusted Execution Environment (TEE) are propagated throughout the entire computational network. Furthermore, Covalent’s scheduling system supports both High Throughput Computing (HTC) and Low-Latency Production (LLP).
Covalent users can train a Caffe RNN with the Apache Hadoop setup, or they can provide a pickled pre-trained L1 Regression for financial prediction as-a-service.
The Covalent smart contract scales massively through off-chain computation. Covalent separates consensus from smart contract execution and performs massively parallel execution of smart contracts. The computational power of the Covalent network is the sum of that of all its nodes.
Covalent noticed a problem that the existing Internet protocol suite provides end-to-end data communication specifying how data should be packetized, addressed, transmitted, routed, and received. However, it does not specify how data should be used. Covalent wants to act as a new addition to the Internet protocol suite that specifies and enforces how data should be used. Under the Covalent protocol, data carries a "smart policy". The idea may seem strange, however after looking at possible use cases the project may actually be revolutionary especially with many people looking for increasing their security and privacy. You could order that the credit card number may only be used once for a one-time charge and after the transaction it will be erased from the server automatically. Or that a file that you want to share can only be shared set number of times. When it comes to rating the sole idea, the project looks very good and promising, however at the current early stage they don't provide much information about development process or potential demo showcases. The team is relatively small, however consists mostly of skilled developers and programmers.
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