Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.
Note: this cryptocurrency is not available for withdrawal to external crypto wallets. It can be bought, held, and sold on Uphold.
About Circuits of Value (COVAL)
Circuits of Value, which is a reference to a type of digital credit, is the name of the platform behind Emblem Vault, which leverages custom non-fungible tokens (ERC-721s) to facilitate cross-chain transfers involving multiple assets.
The Emblem Vault platform allows users to create a “composite" token, called a vault, which is actually an NFT comprising an assortment of assets. In this way, one's composite token is traded as a single NFT.
"The user that receives the vault can open it to obtain the multiple different cryptos," InvestorPlace said. "Through vaults, networks can cut down on scalability issues, seeing as assets can combine into a single swap."
COVAL is the platform's native asset. Its main use is as a rewards token incentivizing the use of Emblem Vaults and there are plans to eventually introduce a means by which it can be staked back into the protocol.
There's a second platform token, a fee token, called FUEL, used for executing transactions.
Crypto assets from public and private blockchains enter COVAL's network of distributed ledgers (or Emblems, which are actually COVAL "sidechains") where they can be flexibly and securely transacted using trustless models, CryptoSlate said.
Transactions can consist of individual tokens and "wallets" (baskets of tokens) represented by Emblems.
When was COVAL created and how much was it worth?
COVAL initially was tied to a different product. The adoption of COVAL for the new Emblem Vault fully benefited those existing token holders; there was no initial coin offering (ICO), per Your Crypto Library.
According to theof Circuits of Value's co-founder, Shannon Code, the Emblem Vault has been in existence since January 2018. Self-taught, Code had previously been chief blockchain architect at Loyyal, which was a rebranding of , an early blockchain-based customer rewards program.
Prior to that, at Mastercoin, Code built a crowd sourced security program.
At some point, Code explained in a Crypto Society discussion on Medium, Loyyal looked to ditch their token.
"I talked them into letting me take over and I rebranded to Circuits of Value and have been building decentralized stuff ever since," Code said.
CoinGecko tracks COVAL price action (fractions of pennies) going back to the start of 2015. At some point in 2018, COVAL went above $0.01.
On Dec. 6, 2021, ahead of an impending Coinbase listing, COVAL skyrocketed 260% to about $0.07. It has since been subject to downside volatility.
How is the price of COVAL determined?
COVAL’s circulating supply is estimated to be 1.8 billion, CoinGecko said.
About 20% of the supply has been set aside by developers for furthering the project and providing liquidity.
The COVAL used to purchase vaults is burnt, lowering the supply.
Why does COVAL have value?
COVAL value comes from its main use, that is, as a means to buy the ability to create NFTs using Emblem Vault, which is seeking to harmonize via tokenization how public and private blockchains interconnect.
COVAL’s store of value owes to levels of demand for such activity as the industry continues to strive to do more transactions faster and less expensively.
The Emblem Vault could be viable as a hedging or collateralization instrument; as crypto trading volume expands, COVAL could gain traction. "The opportunities are many, and they continue to grow, which definitely makes them worth exploring,"said.
The project has set aside 5% of its total supply for staking rewards.
Interoperability is shaping up to be one of the main themes for the cryptocurrency market, Cointelegraph explained. "While this has been one of the long-term goals of the ecosystem as a step on the path to an interconnected network of protocols, it has also created a new decentralized finance (DeFi) market for multi-chain bridges and decentralized finance."
Is COVAL secure?
COVAL is hosted on Ethereum. And COVAL requires 14 network confirmations.
What are the main benefits of COVAL?
- Emblem Vaults are an intuitive way to ensure capital efficiency while being highly flexible in usage, said researchers at House of Chimera.
- Users can create an Emblem Vault with multiple pool tokens, to make transferable liquidity pools.
- Users can also create an Emblem Vault that contains one or more pieces of Collectible Art in the form of NFTs.
- The project has set aside 5% of its total supply for staking rewards.
What do critics say about COVAL?
Beyond its use buying vaults on the platform, COVAL "lacks much functionality beyond as a store of value,"said. "Full potential has yet to be reached."
How to buy Circuits of Value (COVAL)
With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go toand click .
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
Just start trading.
Get more coin for your coin
0% deposit fees 0% withdrawal fees