What is Nervos Network?
Nervos Network is an open-source public blockchain ecosystem geared towards solving some of blockchain’s biggest problems today.
The Nervos Common Knowledge Base (CKB) is a layer-1 Proof-of-Work (PoW) public chain that provides decentralisation and security. The layer-1 works in conjunction with the first layer-2 solution “Godwoken”, as well as with the “Force Bridge” — a bridge connecting other blockchains to provide the scaling solutions and enabling interoperability.
What is Force Bridge?
Force Bridge is a trustless bridge for seamless cross-chain transactions between Nervos and other public chains. Increasing the ease to bring more tokens to trade, sell, buy and spend on Nervos. Ultimately this will lead to more dApps being built on the chain.
The Force Bridge currently supports ETH and whitelisted ERC-20 tokens, including Dai (DAI), Tether (USDT), and USD Coin (USDC), and more with plans to expand more chains in the future.
What is Godwoken?
Godwoken is an Ethereum Virtual Machine compatible layer 2 built on Nervos’ Layer 1. It’s an inherently multi-chain solution utilizing advanced account abstraction that allows for flexible wallet support, or traditional user accounts, for an internet-like experience.
With Nervos, Ethereum blockchain developers will be able to port dApps seamlessly, while keeping transactions scalable, fast, and at a low-cost, allowing them to be part of the next generation DeFi ecosystem.
Why Nervos is the Next Big DeFi Ecosystem
Nervos is setting a new standard to how DeFi dApps will be built. Facilitating development regardless of account model, consensus mechanism, and other factors. It won’t matter if a chain is using Proof-of-Work, Proof-of-Stake, UTXO or account models, they will all be able to come together and be entirely interoperable.
With developer tools like Godwoken and the Force Bridge already live, and with dApps like, Yokaiswap and NexisDao operating, the allure for Ethereum developers to transition their dApps to Nervos and become early adopters in the expanding DeFi ecosystem is rising.
YokaiSwap is the first interoperable AMM (currently with ETH), DEX, Yield Farming and Staking platform on Nervos.
The protocol will enable Nervos users to operate as they would expect on any other AMM/DEXs, but also to open up a door to a massive influx of pairs thanks to our interoperability tools.
Yield farming, also known as yield or liquidity harvesting, is the process of lending cryptocurrency in return for rewards like interest or additional coins. If the price of those additional coins appreciates, the investor’s returns rise as well.
What is Nexis Dao?
NexisDAO is an open source Decentralized Autonomous Organization running on Nervos Network. It runs a decentralized stablecoin system called the Nexis Protocol.
The Nexis Protocol is a smart contracts portfolio that allows anyone to deposit collateral assets to generate TAI, a decentralised cryptocurrency backed by excess collateral on-chain, soft-pegged to US Dollar. Resistant to hyperinflation due to its low volatility, TAI offers economic freedom and opportunity to all users.
Sure 2021 is wrapping up, but Nervos is not slowing down. The next phase of the Ethereum Force Bridge is already underway and includes wrapping both CKB and NFTs from the Nervos ecosystem to the Ethereum blockchain. This is being developed concurrently with the Cardano Force Bridge project.
The Roadmap includes other exciting upgrades to the ecosystem.