Civic is a blockchain project that aims to simplify identity verification services using blockchain technology. It provides a secure and efficient way for users to verify their identities and share this verified information with service providers without needing constant re-verification.
In return for participating in this process, service providers may reward users and verifiers with CVC tokens. CVC is essential for supporting payments for smart contract commands and maintaining the underlying blockchain that backs up the platform.
The Civic ecosystem is built on blockchain technology, specifically the Ethereum blockchain, and has successfully elevated the quality of services for its existing products, particularly the Civic Secure Identity Platform (SIP). The platform operates through smart contracts and utility tokens, with CVC being the native ERC-20 token used to facilitate transactions related to services offered by the Civic ecosystem.
CVC tokens are rewarded to Validators and Users for sharing reliable information and engaging in various platform activities to incentivize participation and contributions to the Civic ecosystem. Validators receive rewards for providing identity data validation, while Users are rewarded for signing up for services, providing their identity information, or introducing new users to the platform.
