Nervos Network

Feb 22, 2023 | Blockchain, Projects

A blockchain platform for universal applications

Nervos network – A blockchain platform for universal applications

 

Problem

  • The decentralized web suffers from segregation into different ecosystems with poor interoperability.
  • Hence it’s difficult for users to utilize different blockchain networks and move their assets in-between.

Solution

  • Nervos Network acts as a “universal blockchain passport” that allows developers to easily build or port any existing dApp or token to any blockchain.

Value Proposition

  • Such interoperability eliminates the requirement of using multiple wallets and exchanges while enabling dApps to be ported across the entire blockchain ecosystem.

Underlaying Magic

    • Nervos Network achieves its interoperability by combining a highly secure layer 1 blockchain with scalable Layer 2 sidechains.

    Business Model

    • To maximize decentralization, the network relies on proof of work consensus with an economic model designed around state storage occupation, instead of transaction fees.