On June 8, 2018, Jack Ge from CyberVein pitched their project to an audience at the Blockchain International Show London (BIS).
CyberVein aims to reinvent the concept of decentralized databases – it will be the first directed acyclic graph (DAG) decentralized database network that will store data on-chain without the need for an external party. This allows people to securely store, share, trade, and interconnect data with unparalleled ease and comfort. Having a database run on DAG has enormous perks, the main one being that it makes content ‘tamper-proof.’ Nobody can change the value of a specific piece of data with malicious intentions – data become incorruptible.
Regarding use cases, CyberVein is building their platform to increase the efficiency and security of databases within companies such as big pharmaceutical corporations, who regularly need to update information and share new data among themselves.
CyberVein is also building their software to be useful to universities who would need to share data for research and administrative purposes. The team is, in fact, already collaborating with some universities in China and providing them with incentives to continually revisit and revise their data.
Jack Ge notes that ‘as data goes old, its value decreases,’ meaning that it is in everybody’s best interest to keep databases updated frequently.
Jack Ge also used his time at BIS to showcase the new DAG design that CyberVein will be using. DAGs, which are alternatives to blockchains, have a more robust design that prevents them from slowing down during periods of high activity. The nature of their DAG system is that everything works in parallel, meaning that if CyberVein gets enough nodes running, they can manage unlimited data.
The presentation at BIS reveals how ahead of the curve CyberVein currently is, and they demonstrated that they are a highly skilled, competent team.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.