Announcement of NerveNetwork Mainnet Online

Dear NerveNetwork community,

First and foremost, we want to say a BIG thank you as always, to the community for your support.

We are delighted to announce that the NULS Technology Community (NTC) has completed the development of NerveNetwork. After several rounds of internal testing and Beta testing, NerveNetwork main net is online as scheduled.

NerveNetwork is a decentralized digital asset service network based on the NULS micro-services framework, which uses NULS ChainBox to develop a cross-chain interaction protocol. The aim is to break the isolated blockchain value and establish a cross-chain asset exchange network to provide all the necessary underlying support for the Defi, Decentralized Finance, application ecosystem. It lets digital asset holders enjoy secure, free and transparent Defi application services.

Details about NerveNetwork main net

The functions of NerveNetwork are divided into two parts. The first part will be online on July 10, 2020.

NerveNetwork Main Net Part 1:

1.Supports to transfer transactions, cross-chain transactions, register cross-chain transactions, cancel cross-chain transactions, validator change transactions, increase cross-chain asset transactions, cancel cross-chain asset transactions, feed price transactions, virtual bank change transactions, create trading pair transactions, and modify trading pair transactions.
2.Supports the POCBFT consensus mechanism (Proof of Credit Byzantine Fault Tolerance). The current block confirmation time is 2 seconds.
3.Supports homogeneous cross-chain: Assets can be transferred from NULS to NerveNetwork, and assets can be transferred from NerveNetwork to NULS.
Supports heterogeneous cross-chain: ETH or ERC20 tokens can be transferred from the Ethereum network to NerveNetwork, and vice-versa, ETH or ERC20 tokens can be transferred from NerveNetwork to the Ethereum network.
4.Supports asset exchange agreement: different assets can be quickly exchanged according to a certain percentage. The Nerve Decentralized Exchange, NDEX, is based on this agreement.
5.Supports viewing of information such as account/transaction/block/node/cross-chain across the entire network.

NerveNetwork Main Net Part 2:

1.Supports staking transactions, adding deposit transactions, and creation of node transactions.
2.Supports node three-tier architecture, including virtual bank nodes, consensus nodes and common nodes. Different tiers of nodes have different weights. The weight influence the rewards amount.
3.Supports flexible choices for staking duration: current period, 3 months, 6 months, 1 year, 2 years, 3 years, 5 years. Different assets and staking durations influence the rewards amount.
4. Supports creation of nodes and adding node deposit amount. The network will select virtual banks and consensus nodes according to the staked amount and the credit value. The virtual bank manages cross-chain verification, and the consensus nodes maintain the network.

NerveNetwork Product Application:

NerveNetwork Rewards

NerveNetwork generates 43,200 blocks per day, and each block initially generates 2 NVT rewards. This is called the Block Reward. ( After the first block reward, the block reward will be reduced by 0.822% every 100 days).

To ensure fairness, NerveNetwork will give the community users time to prepare. The first block reward will be generated at NerveNetwork block height 1,350,000. (Approximately 30 days after the start of NerveNetwork.)

Airdrop

We will airdrop NVT to NULS holders based on block height 2,620,000 of NULS main net (about 14:00 PM July 12th, 2020 UTC+8) . The ratio of the airdrop is 1 NVT : 10 NULS, 1 NVT for every 10 NULS. Accounts containing less than 10 NULS will not receive the airdrop.

NerveNetwork Users

Presently, NerveNetwork developers have provided the light wallet and explorer for the community. Users can also download the desktop version of the Windows/Mac light wallet. The default data service connected to all light wallets is the Public service provided by NerveNetwork technical community. Users can also switch the data service to their own public service (Users can download the node wallet and start the Public service module and provide services externally.)

Application

Light wallet: https://wallet.nerve.network/

Explorer:https://scan.nerve.network/

Stake with NerveNetwork

Users can stake NVT to earn rewards, and the minimum amount to stake each time is 10,000 NVT.
In addition, the longer the staking period, the higher its corresponding weight.
The total weight of each user is calculated based on the number and duration of the staking. The higher of user’s weight in the total weight of the entire network, the higher the rewards.

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Besides staking NVT, users can also stake different types of assets, such as ETH and NULS. The weight of their reward is different for staking different types of assets. The minimum amount of NULS/ETH to stake is the equivalent of 10,000 NVT.

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NerveNetwork Nodes

Program for quickly installation and running full nodes:
http://docs.nerve.network/zh/Guide/g_docker_install.html

Node Creation

The nodes of the NerveNetwork are divided into three- tiers.
1.Virtual banks
2.Consensus nodes
3.Common nodes.

Different tiers of nodes have different responsibilities in the network. Virtual bank nodes need to take the responsibility of cross-chain verification and network maintenance, and consensus nodes take care of network maintenance. Due to differences in responsibilities, the weight of the node is related to the node tier. Node weight influences reward amount.

There is a minimum amount of 200,000 NVT as deposit for creating a node. After the node is successfully created, the deposit can be increased or withdrawn. The number of each increase or withdrawal must not be less than 20,000 NVT. Based on the amount of pledged deposits, the top 15 nodes become virtual bank nodes, the 16th to 35th become consensus nodes, and the rest will be common nodes. In order to ensure network stability, all NVT from the result of withdrawal or cancellation of a node will be locked for 15 days.

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Feedback

Github issue area https://github.com/NerveNetwork/nerve/issues

Community users may join the official Discord to ask questions and make suggestions. The technical community will try their best to answer as soon as possible. Because NerveNetwork is a global community with time differences across regions, we ask for your patience and understanding while we try to respond to every question in a timely manner.

Appendix

About Nervenetwork:

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