Cypherium is a blockchain platform that aims to provide enterprise-level scalability and performance while maintaining decentralization and security. The platform uses a hybrid consensus mechanism that combines both proof-of-work and Byzantine fault tolerance (BFT) consensus algorithms to achieve high throughput and low latency.
The Cypherium platform aims to provide a number of use cases, such as decentralized finance (DeFi), supply chain management, and identity verification. The team behind Cypherium includes experts in blockchain, finance, and cryptography, and the project has received support from a number of well-known investors.
What are the advantages of Cypherium(CPH)？
- Fast calculation-An instant ledger for billions of users to process real-time transactions
- Enterprise-level features– Cypherium aims to provide enterprise-level features, such as support for smart contracts and the ability to build decentralized applications (dApps) on the platform. This could potentially open up new use cases for blockchain technology in areas such as supply chain management, finance, and identity verification.
- Smart Contract Platform-A smart contract platform for all industries to enable enterprise use cases.
- Decentralization– Cypherium aims to maintain a high degree of decentralization, with a large number of independent nodes and network participants, ensuring that no single entity has control over the network.
- Security- Cypherium uses a variety of security measures, including cryptographic algorithms, to ensure the security and integrity of the network.
What is CPH token?
CPH token is the native cryptocurrency of the Cypherium blockchain platform. It is an ERC-20 token based on the Ethereum blockchain, but will eventually be exchanged for the native token on the Cypherium platform once it is launched.
What is the Price of CPH Tokens?
The total supply of CPH token is 2,000,000,000 (2 billion) tokens. And the highest price paid for Cypherium(CPH) is $0.13058, which was recorded on Jan 01, 2022. At the time of writing,CPH market cap is 32,700,017. The current CPH price is $0.06289 per coin. The 24-hour trading volume for the coin is $78,641.
How does Cypherium(CPH) work?
Cypherium uses a hybrid consensus mechanism that combines both proof-of-work (PoW) and Byzantine fault tolerance (BFT) consensus algorithms to achieve high throughput and low latency. The platform also uses a sharding technique to further increase transaction throughput.
- Transactions: Transactions are submitted to the network by users, and are validated by nodes on the network. Each transaction includes a fee, which is paid in CPH tokens.
- PoW Consensus: Initially, transactions are validated by nodes using a PoW consensus algorithm. This helps to prevent double-spending and ensures the integrity of the network.
- BFT Consensus: Once a certain number of nodes have validated a transaction, the transaction is then confirmed using a BFT consensus algorithm. This helps to ensure that transactions are processed quickly and efficiently.
- Sharding: To further increase transaction throughput, Cypherium uses a sharding technique. Sharding involves dividing the network into smaller, more manageable pieces, each of which can process transactions independently.
- Smart Contracts: Cypherium also supports smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts can be used to automate complex business processes and to build decentralized applications (dApps) on the platform.
The Use Case of Cypherium
- Digital Identity-Private data protection remains a significant challenge in modern cybersecurity. Cyber criminals have made easy prey of traditional centralized data servers.
Instead of centralized authority or a single point of failure, decentralized ledger technology handles identities through a shared root of trust. The World Wide Web Consortium (WC3) facilitates the Decentralized Identifiers (DIDs) standard, which allows users to own and manage their personal data. Cypherium can fully integrate with open identity protocols such as the DID standard, among others.
- Central Bank Digital Currency-Countries all over the world are focusing more on the concept of Central Bank Digital Currencies (CBDCs), hoping to capitalize on this clear and exciting trend, and China is no exception. Indeed, China is eager to take the lead with its DC/EP project.
- Big Data Analysis-The big data center has a unique status among the three DC/EP centers in that it is responsible for anti-money laundering, anti-fraud, and other security monitoring.
Because of the importance of this office and the sensitive nature of the big data center, the center must follow a special mandate in order to ensure transaction security and information security: the big data center can only read, not modify, all data.
Cypherium reserves a monitoring interface for on-chain activities and can quickly alert against illegal transactions via the large data center.
- Clearing System-Given the possibility of difficulties in connecting directly to the central bank’s digital currency system without special permission, Cypherium has also established a clearing system architecture in which intermediaries (which can be financial institutions with financial strength) perform final clearing of funds to ensure that user accounts have a relatively smooth experience.
Overall, Cypherium aims to provide a fast, secure, and scalable blockchain platform with a wide range of use cases, including decentralized finance (DeFi), supply chain management, and identity verification.