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.
Maintaining fully functional databases with qualities that are normally attributed to blockchains – meaning immutability, security, and transparency – makes enormous sense in a variety of industry, research and governance use cases.
Players in the global market often need to share information and rely on data they pool and maintain collectively. Supply chain management is one obvious scenario, but there are many more. This can be very problematic if these players have good reasons not to trust each other. Immutable, decentralized databases solve this gracefully.
For academia, research and the public sector, use cases are virtually limitless. Scientific processes such as peer review and collaborative research can be revolutionized in the truest sense of the word.
Smart governments and smart cities rely on the collection of vast amounts of data generated by the public, providing city administrators with enormous power and knowledge which aren’t necessarily shared with the public. CyberVein allows this data to be stored and processed in public, decentralized databases, protecting it from malevolent manipulation as well as from attacks, while providing an immutable record of how said data is processed and used.
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 improves on Directed Acyclic Graph architectures by introducing a resource conserving consensus algorithm, as well as a smart contracting language and virtual machine, optimised for the handling of massive amounts of data.