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Interview: What makes Nerve such an innovative project?

What are Nerve’s differentials? What is the logic of growing your token? What to expect from DeFi? Developer Berzeck is our guest for a detailed interview about the project.

Currently, Nerve is a popular and innovative project on the market. Could you give her a presentation first? There are many cross-chain projects, so what are the competitive advantages that Nerve has over others?

Berzeck: Nerve is a decentralized digital asset services network. It is based on the NULS microservice framework and uses the ChainBox, from the same NULS to develop and build a blockchain protocol for cross-chain interaction and aims to establish an interoperable network of interactions of cross-chain assets and provide support for the ecosystem. of applications Defi.

With Nerve, token holders enjoy truly transparent Defi services. Thus, the Nerve network can make the connection between several closed blockchain systems. This process is the same as connecting multiple LANs on a network, for example.

Nerve’s advantages over other cross-chain projects are basically as follows:

  1. Based on NULS technology, Nerve has completed the technological development and implementation of a homogeneous cross-chain and heterogeneous cross-chain asset contracts for ETH, while other projects are still under development. Therefore, in terms of technical progress, Nerve is already in a leading position.
  2. NULS has a flexible microservice structure. Nerve is a complement to NULS blockchain ecology. Its design is much simpler than other cross-chain solutions because it does not try to connect everything at the same time, nor does it try to merge everything. For example, the smart contract is implemented at NULS and Nerve will not copy it, as it can use this function at NULS. That way, we don’t have an inefficient blockchain, but we split it up in order to do its job. They have specific purposes and tasks and can complement each other at their own pace. It doesn’t matter what technology your blockchain project has now: if it doesn’t have the ability to adapt to new technologies, its end will be disappearing from the map. That’s the only unchanging truth in technological development, especially in the blockchain segment!
  3. Nerve will support NULS, ETH, BTC and other assets through a staking network.
  4. Nerve has its own decentralized exchange, NerveDEX (NDEX). It also supports other projects to use Nerve modules to customize their own DEX. This is a development by Nerve in the field of Defi.

As an ecological project for the NULS public network, what support and assistance does NULS offer for the development and implementation of Nerve? What benefits can Nerve bring to NULS?

Berzeck: The Nerve Network was born in the NULS technical community. So, this community gives Nerve a lot of technical support, in addition to assistance with business development and ecological construction.

The launch of Nerve means that, in the field of cross-chain projects, the ecology of NULS will bring more projects and users to you. As Defi applications become more and more abundant, a huge reservoir will be formed.

The Nerve multi-asset project will offer NULS real-world application scenarios, which will truly increase its value. Nerve also supports NULS commissioned mining. As an ecological project adopting NULS technology, Nerve will naturally support the connection with NULS, so the NULS ecosystem will be the first to take advantage of dividends from Nerve.

Interview: What makes Nerve such an innovative project? 24

Now that DeFi projects have taken many directions like loans, trading and stablecoins, what are Nerve’s plans regarding the specific development of the direction of its own DeFi ecosystem? What do you think of future developments in the DeFi field?

Berzeck: Nerve’s own product positioning includes developments in the Defi field. Nerve’s asset, NVT token, can participate in staking mining – which is a major innovation by Nerve in the cross-chain and Defi fields.

Second, Nerve is developed based on the NULS microservice architecture and provides support for other projects to use Nerve modules to customize their own DEX. That way, quick customization can be done for a very low cost. In the future, DEX – which is comparable to centralized exchanges – may appear soon.

Finally, Nerve can connect multiple blockchain projects in a simple, economical and efficient way. There are even plans to integrate other recognized projects. As for the future of Defi, I would say that it is there to build a decentralized financial system, in order to achieve a worldwide popularization of Defi digital assets and applications.

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Recently, many DeFi applications have been attacked by hackers. What kind of problems does the DeFi market reflect? Can Nerve prevent such problems?

Berzeck: Most Defi apps are developed through smart contracts and the security and efficiency of applications running on smart contracts are not as good as those of programs that are coded directly on the base.

Nerve does not have a smart contract and the asset exchange protocol is supported in the chain. This protocol is supported directly at the base layer of the Nerve network, which is jointly maintained by virtual banks and consensus nodes. The systemic security risk is much less than that of Defi applications developed by smart contracts.

At Nerve Network, as in other blockchains, users’ assets will always be safe, as long as they maintain control of their private keys.

Nerve adopts the POCBFT consensus mechanism. What are its unique advantages?

Berzeck: Nerve uses the POCBFT mechanism, which represents a beautiful innovation. POC refers to the Proof of Credit (credit proof), which is the consensus mechanism used by NULS. BFT refers to the Byzantine fault tolerance.

As suggested by the name, POCBFT is the result of the combination of POC and BFT, made by the Nerve development team. POC is a consensus mechanism derived from DPOS, which can perform block rotation to maintain fairness and efficiency. It also has a built-in mechanism to punish nodes that behave inappropriately.

At the same time, all holders can also participate in staking to gain consensus incentives. It is clear that the combination of POC and BFT not only allows Nerve to inherit the advantages of the NULS POC mechanism but also makes it significantly improve its performance.

What is the economic model present in the Nerve ecosystem? What is the logic behind the NVT token enhancement?

Berzeck: The maximum amount of NVT tokens issued is 2.1 billion, with an initial issuance of 1.1 billion and an additional 1 billion being produced through consensus nodes and virtual banks.

The distribution of the initial issue has a maximum of 310 million tokens in circulation at the beginning. For the foundation, 200 million tokens will be permanently locked in a virtual bank to ensure the safe operation of the network and on-chain assets. 400 million will be released in a linear fashion each month after the mainnet has been online for 20 subsequent months. The logic for valuation is based on the following points:

  • Supply fees: cross-chain establishment fees and transfer fees;
  • On-chain governance: voting rights on the Nerve project and on on-chain governance tools;
  • DEX: Destruction of the repurchase of transaction fees from the decentralized exchange and the asset fee created by the decentralized exchange;
  • Nodes: deposits as collateral created by the nodes;
  • Staking: multi-chain mining with an improvement in investor revenue and, thus, reducing circulation rates.

Knowing that there are 1 billion NVT tokens generated through consensus nodes and virtual banks, how can we become the Nerve network for mining gains?

Berzeck: Nerve’s main network nodes are divided into three types: ordinary, consensus and virtual banks. Ordinary nodes are responsible for collecting transactions, checking blocks and offering services for applications. These nodes will allocate consensus incentives based on the proportion of assets pledged as collateral across the network.

Consensus nodes take care of maintaining the blockchain. Deposits as collateral are required to create them. The number of consensus nodes on the Nerve mainnet is limited to 35 and the mainnet will select 35 nodes with the highest margins to become consensus nodes.

Virtual banks are responsible for maintaining cross-chain assets, including creating and managing multi-signature accounts or smart contracts for parallel chains, as well as creating and transmitting asset transfer transactions, etc. The virtual bank is selected from the consensus nodes and the default is 15 consensus nodes.

The weight of the virtual bank’s revenue is greater than that of the consensus node. If you want to be a Nerve node, you must have at least 200,000 NVT. If the number of assets given as collateral on your nodes is among the 35 largest in the entire network, then you can be a consensus node. If you reach the top 15, then you will be a virtual bank, with more earnings.

During the development of the Nerve project, you must have experienced some difficulties. Which do you think was the biggest and how did you overcome it?

Berzeck: In the development of the Nerve Network, we had some technical difficulties such as faster rate of trade confirmation, consistency between homogeneous and heterogeneous chains, etc. Fortunately, the team has accumulated enough experience to develop a project plan in a very short time in order to move forward.

As for the operation, the community is the basis for the good development of the project’s ecology. With the support and promotion of the NULS community, the Nerve Network has been cited by the specialized media since its idea was conceived.

Thanks to the continued support of the NULS community, Nerve made an announcement to reward NULS holders with an airdrop in the ratio of 10 NULS to 1NVT, which was supported by major platforms such as OKEx, Bibox, Bitmart, among others.

Nerve started the open beta phase some time ago. Can you talk a little about this phase? Can you also give more details about the development on the Nerve roadmap?

Berzeck: We received forms from more than 300 people from all over the world, who participated in this phase after receiving test coins. In order to ensure the stability and security of the Nerve mainnet, these members underwent repeated systemic tests of fatigue and functionality, in addition to making a major contribution to the recent launch of the mainnet, as planned.

We are currently inviting large platforms and institutions to become virtual banks. In the third quarter of the year we will launch DEX, as well as light wallet. Around that time, we will be working hard to connect more blockchains to the use of Nerve.

In the near future, Nerve users will be able to access various NULS assets and parallel chains, not to mention that we have plans to add more famous blockchains.

Everyone is kind of worried about the issue of exchanges. Can you tell your plans for listings? What specific ideas and actions will be put into practice in the second half of this year?

Berzeck: First of all, we are not in a hurry to get listings on many exchanges, due to Nerve Network’s vision to get blockchain back to its essence, supporting asset trading at the base layer – aside from the fact that NerveDex will also be launched soon. Our main focus now is on it, through which users can easily and securely exchange assets on the blockchain.

If there are exchanges with a desire to join the Nerve ecosystem, we will welcome them and suggest that they participate as virtual banks in the Nerve project.

For more information and updates on the Nerve Network visit http://nerve.network/
Follow us on Twitter: @nerve_network

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