Nervos Review: A suite of scalable and interoperable protocols and an open blockchain “Trustware” platform for decentralized applications.

Original article by EVALUAPE

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A. Introduction

Nervos wants to realize a distributed and scalable underlying public-chain platform with low-latency through a universal knowledge base.

B. Industry

The universal consensus knowledge base is similar to a knowledge base which consists of common consensus, which are basic definitions of various professions and various principles. The various transactions or interoperability between humans or machines are based on some kind of consensus knowledge reached by the participants. Nervos’ philosophy is to share all these consensus knowledge through blockchain, so that to get rid of traditional inefficient methods and to trust the system in order to automatically improve the efficiency of knowledge consensus reaching.

C. Mode

The underlying layer has defined the blockchain paradigm as “consensus automaton” instead of “world computer”. Consensus is stored on the chain, and the calculation results are executed outside the chain, which has fundamentally changed the scalability problem. The platform changes the current underlying data structure of Ethereum, EOS and other platforms to achieve a truly consensus-oriented architecture, and optimize the details of transaction verification and node consensus. The light client is supported by filtering the saving and receiving of accounting nodes, full nodes, light nodes on blockchain to different degrees. Thus, it can support the real commercial landing of DAPP. Various applications will define its consensus scope based on their own scenarios (the scope is defined according to its knowledge base demand, for example, the medical industry scope is the medical knowledge base), and calculations, transactions, etc. are performed within the scope. The state of the specific event execution is recorded by the underlying nervos. In theory, it can be applied to all fields.

D. Token Economy

It is similar to EOS model, where token represents a storage space. The more storage space a dapp needs, the greater the value of the token. Its governance mechanism uses mobile voting to reach consensus, but the white paper with specific token economy and governance mechanisms has not been released.

E. Technology

Compared with event-oriented Ethereum, nervos core is state-oriented. It saves power and supports light clients, due to the events calculation avoiding. In terms of structure, nervos is divided into two layers, the underlying CKB layer and the upper generator layer. Because the consensus scope between different transactions is different, the generator layer is responsible for the interaction within the local consensus scope. The form can be varied from client to state channel to blockchain, and the final state is recorded to the underlying CKB network. The underlying CKB adopts a mixed consensus and will combine various consensus such as bft, and a formula white paper will be published in the future. Nervos proposes a new distributed application paradigm. The basics are divided into five parts, namely cell, type, validators, generators and identity, which regulates how data is stored, generated, validated and the data type and identity verification method. Distributed applications on it need to be designed and interacted based on the paradigm.

F. Team

The technical support comes from Cryptape Inc, which is an early blockchain technology enterprise in China and one of the 30 founding members of the Ethereum Alliance in 2017, the initiator of the Ethereum Fan Forum. Cryptape Inc received a CMB International Pre-a round financing at the end of 2017, the total financing amount reached 36 million yuan. Xie Hanjian, CEO of Nervos, was a core developer of early ethereum and the only Chinese member. He has rich experience in the field. In terms of capital, top institutions such as Huobi, FBG, imtoken, MatrixPartners, polychain, Wanxiang, and Sequoia, and dozens of other investment institutions have invested the project.

G. Community

Twitter:1273,Telegram:13288, Reddit: 125 Subscribers

H.Conclusion

Advantages: 1) The team is the top blockchain technology team in China, the founders are experienced; 2) It has solved the DAPP’s scalability with excellent technology; 3) The investment team are luxury.

Disadvantage: 1) Community operations have not been promoted; 2) As a public chain, the upper ecosystem layout has not been explained. Generally speaking, concepts, teams and technology are excellent.

Hype Score: Medium High
Risk Score:Medium
Investment Score:High
Total Score:8.1

All information in this article is provided for reference only and does not constitute investment advice.


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