Nerve Network — Decentralized digital asset service network

Nerve Network — Decentralized digital asset service network


The NULS Technical Community (NTC), released blueprints for Nerve Network, a decentralized digital asset service network, and a blockchain cross-chain interaction protocol based on the NULS microservice framework and developed with NULS ChainBox.

The NULS network runs on “a democratized staking system” that mixes delegated proof of stake with a credit rating. The proposed Nerve Network sits atop the NULS protocol, allowing users to transfer major cryptocurrencies, including BTC, ETH, and ERC20 tokens, to the NULS blockchain. The company hopes the network will compete with Cosmos and Polkadot, two other cross-chain solutions in development.

While the protocol doesn’t bridge Bitcoin and Ethereum in quite the way Ethereum founder Vitalik Buterin wrote on his Twitter Account, Berzeck, the pseudonymous developer of NULS, conceded to Decrypt that “it is a step in this direction.”

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“We built NULS 2.0 Project Nerve Network with the ability to adapt and evolve a lot faster than any other blockchain,” said Berzeck. “Each module is an application itself so it can be replaced quickly, use any other developer languages, and even adopt other consensus mechanisms. Let me put it this way: If Vitalik finds the infinity scalability scheme, while he is receiving a Turing Award, we will pack it in a microservice and deploy via Chain Factory months and even years before Ethereum or another blockchain does.”

From concept to creation, NULS projects are community-driven. Developers can propose ideas to the network via the community forum, set up a master node and adjoining wallet, use Chain Factory or ChainBox to deploy underlying modules, have community members fund the project by staking their NULS to the ascribed master node via Proof of Credit Mining (POCM), mint and distribute native tokens to community supporters, petition for listing on NULS native DEX, trade tokens earned through POCM to USDI — the NULS native stablecoin and code new modules in any development language.

With its proposed Nerve Network, NULS aims to break the isolated value island of its blockchain, establish a cross-chain asset interaction network, and provide all the necessary underlying support for the decentralized application ecosystem.

Nerve’s network consists of three layers: 1. Virtual bank: the virtual bank is responsible for the maintenance of cross-chain assets, including creating and managing multiple accounts or smart contracts in parallel chains, creating and broadcasting asset transferred out transactions, etc. The virtual bank is selected from the consensus nodes, and the 15 consensus nodes with the largest amount of deposit will be selected by default. The reward weight of a virtual bank is twice that of a common consensus nodes. 2. Consensus node: the consensus node is responsible for the maintenance of the blockchain. Consensus node can be created with deposit, which can’ be less than 200,000 NVT and is not capped. The number of consensus nodes is fixed to 35, and the top 35 nodes by deposit are selected to maintain the entire Nerve network. 3. Common node: other nodes are responsible for transaction collection, block and transaction verification and providing services for applications.

Nerve Network is

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Development plan of Nerve

Phase 1:

October 2019 — March 2020 Product technology: realizing cross-chain interaction of BTC, ETH and ERC20. The first on-chain financial application NerveDEX will be released along with the Nerve, which can better help the circulation and transaction between different tokens combined with the financing and issuance protocol for new projects POCM in the NULS ecosystem. NerveDEX will support transactions between all NCR20 assets, and the cross-chain assets of Nerve and NULS.

Phase 2:

April 2020 — December 2020 Product technology: realizing cross-chain interaction of mainstream digital assets such as BCH without smart contract function. NerveDEX provides free circulation and trading for more mainstream digital assets.

Phase 3:

2021–2023 Product technology: realizing the top 10 among types of digital assets Access to the OTC function and more stable assets such as PAX, DAI, etc

With this fresh new proposal, the project targets to break the vacuum in the blockchain ecosystem. Effectively, this will support the existence of a decentralized application ecosystem that is yet to happen.

Sources:

http://nerve.network/

http://nervefiles.oss-us-west-1.aliyuncs.com/wp/Nerve_WhitePaper_v1.00.pdf

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