Dec. 21, 2020, Singapore — CyberVein, a next-generation big data and analytics company, announced today yet another major technological development. The company has entered into a technological partnership with Huobi Open Platform. CyberVein is launching CROSS: the first-of-a-kind decentralized nonfungible token issuance platform on Huobi’s ECO Chain, a decentralized, high-efficiency and energy-saving public chain, which was also the first product launched by the Huobi Open Platform.
Huobi ECO Chain, or Heco, is compatible with smart contracts and supports high-performance transactions. CyberVein is the first project that will use Heco. Given CyberVein’s continuous drive for increased efficiency and throughput, the technological partnership is set to enable CyberVein’s proprietary technology to scale faster.
“With CROSS requiring immense transaction speed, we see this technological partnership as the most important one in 2020,” stated Jack Ge, global ambassador to CyberVein. He continued: “We will test things with CROSS; however, our long-term vision would be to utilize Heco for all our products and services.”
The foundation behind CyberVein, the CV Foundation, is allocating 1% of tradable CVT tokens (around 20 million CVT) to the Heco chain. Acting as a medium of NFT issuance and auction, CVT will monetize digital assets and support the daily operation of CROSS on the Heco chain. The complete ecosystem of CROSS will be launched in Q1 2021. The ecosystem will consist of the platform, associated products and applications. The launch is set to attract more quality projects for the Heco chain as well.
CyberVein’s proprietary technology, the big-data solution, is based on a private, interlink, secure and robust distributed database. The company is focusing on the enterprise-level “blockchain and big-data” customized services. CyberVein is using a directed acyclic graph storage chain to create safer data storage and increase efficiency. With DAG, there is no need for block confirmation. Users benefit from low transaction fees since mining is not required. The system supports asynchronous verification and parallel processing of each node. The more nodes, the faster the speed, the stronger the scalability. Recently, the company has launched two initiatives: the Data Analytics and Valuation Exchange, a technological alliance that enables data-driven and technology companies to utilize their resources more efficiently; and CROSS, a first-of-a-kind decentralized nonfungible token issuance platform. CyberVein’s CV Technology Foundation was founded in Singapore in 2017.
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