Review on Nervos Network by gregori cordova

Name: Nervos Network
Item: Nervos Network
Rating: 4

March 05, 2021

A powerful and practical blockchain that facilitates the creation of smart contracts and dapps

Trying to solve the challenges demanded by current blockchains is the main objective of most of the new projects that are coming to the market. Nervos is joining efforts in this regard, providing a unique solution by combining in a public blockchain, the security and decentralization features of chains such as bitcoin, with the large number of use cases that smart contracts of the ethereum network have, but adding structural layers that are much more scalable. The project was launched in 2018, and is focused on the storage of value in the blockchain, by offering and combining public tools and novel protocols to obtain a much more efficient network. CKB or Common Knowledge Base works as the main layer 1 where transactions are executed and acts as the proof-of-work blockchain, but there are multiple layers 2 under which smart contracts can be created. This layered structure of the network allows maintaining decentralization, security and the scalable nature of the entire ecosystem. all layers 2 base their security on CKB which is the main layer 1, and it is an efficient and secure way for developers to create their smart contracts since they delegate their security to the main layer, and also the nodes do not have to know about every transaction on the network, making speed and latency much more efficient. Decentralized applications benefit from this type of blockchain, since they do not have to manage a consensus system from scratch, because the main layer is in charge of the entire process, which represents a practical tool for developers when it comes to create your dapps and smart contracts. The network as expected has its own native token called CkByte that gives life to the entire ecosystem and that usually has many use cases such as the creation of smart contracts, or storage of value
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Combining the most powerful features of existing blockchain projects on the market and introducing innovations to eliminate common efficiencies in the network, Nervos is today a very solid project, which many creators and developers are using to create applications and even tokens without the need to start from scratch, thanks to the tools that this blockchain offers them.
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Pros

Nervos was born as a result of an Ico in 2018, which raised more than 100 million dollars due to the great innovations it brought to the industry
The fact that there are multiple layers 2 in the ecosystem helps the different projects delegate security and speed to layer 1, making the network more scalable and efficient.
The Ckbyte token is supported by multiple wallets and they even have their own wallet called Neuron, which is one of the first applications created under this blockchain.
Users interested in participating in the network can apply to become nodes and obtain rewards for it
It is a very solid project that has a market capitalization of more than 316 million dollars.
Nervos is conducting an airdrop with the help of the coinmarketcap platform in which users can receive certain tokens for learning about their project.

Cons