COVA helps take data storage and sharing off-chain to help preserve information privacy. The COVA Utility protocol is a permissioned blockchain platform where enterprises can store and transfer private data in a private and low-fee environment. COVA then logs these data transfers onto a public network (it currently integrated with Ethereum and Binance Chain), which serves as a final settlement layer. The COVA token serves as a unit of exchange to help pay for transaction fees and as a reward mechanism for network participants that host hardware enclaves, which produce COVA blocks and verify protocol transactions.