Nervos Quarterly Letter: A Look Back at Q1 2021

NervosReleases & Updates

Nervos Quarterly Letter: Q1 2021

Following a tremendous year of growth for Nervos in 2020, we’re excited to share the major updates, tools, and partnerships announced during the first quarter of 2021.

Our ambitious road map is already being tackled, and we have been hard at work delivering upgrades on the core protocol which will lead to our first hard fork later this year. EVM compatibility and Universal DeFi Applications remain high priorities for us through the first half of the year. We are also exploring the popular NFT space by focusing on key partnerships and looking at other tools and SDKs in order to bring real-world applications into the crypto world. 

Community Updates

We’re excited about several community initiatives, including our TrailBlazer program, which welcomes all to contribute to the growth of the Nervos ecosystem by incentivizing the creation, translation, and moderation of content around Nervos, as well as simply spreading Nervos news on social media. 

Our token, $CKB, has also become more accessible to our global community through new exchange listings, including Binance. Additional listings on Voyager and Bithumb meant we were able to offer $CKB to our U.S. and South Korean communities, as well. As part of these listings, we’ve actively taken part in AMA, podcasts, and other interviews to give our new community members a better understanding of Nervos’ mission.

Technical Updates

Having introduced SUDT (Simple User Defined Token), the token standard of Nervos, last year, we have worked to expand these standards to include more options—Extensible UDT (xUDT) and Regulation Compliance Extension (RCE). 

XUDT is an extension of SUDTs for defining more behaviors a UDT might need, such as regulation, compliance, and governance. XUDT could be compared to Google Chrome browser as it supports extensions. RCE will be the first extension of xUDT, which is useful for applications with specific compliance requirements, such as stablecoins and STO tokens. RCE also opens the doors in other popular areas, such as NFTs and DeFi.

We have also been actively working on improving Godwoken and Polyjuice. Godwoken is a Layer 2 rollup framework on CKB that provides scaling abilities as well as an accountability-based program model. Combined with Godwoken, Polyjuice provides an Ethereum-compatible layer on CKB, leveraging the account model and scalability provided by Godwoekn. These two solutions will be audited and deployed on the mainnet in 2021. In addition, more enhancements will be added to Godwoken to simplify development and improve throughput and cross-chain development.

The Force Bridge is a cross-chain bridge that initially connected Ethereum to Nervos, but the latest update on the Bridge has seen it expand to now support BTC, TRON, EOS, and Polkadot. Additional updates on the bridge will also see the integration of Godwoken and the support of the EVM layer and optimistic rollup mechanism. This is especially relevant for DeFi as developers can deploy Ethereum contracts on CKB with Godwoken, lowering the transaction fees while using assets from Nervos Chain and other chains Force Bridge supports. 

For all of the latest developments from the Nervos Network, download the Q1 2021 report.

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