Cross-chain Rising Star Project -NerveNetwork: Revitalizing BTC and ETH which You are Holding and Unlocking New Wealth Passwords

In the past two months, Bitcoin experienced a plunge and soared, and finally broke up the 10,000-dollar again.

Bitcoin once again confirmed the myth of “one day in the crypto currency circle, one year in the world”.

The world ’s eyes focus once again on the crypto currency, and everyone is full of doubts:bull market, is it really coming?

But no matter when the bull market comes, the pace of blockchain development has never stopped.

Recently,besides Bitcoin breaking 10,000 dollars, the most concerned in the entire industry is that the cross-chain rising star NerveNetwork, which is highly concerned by the Ethereum community, will start to airdrop.

As an ecological project of the well-known public chain NULS, NerveNetwork not only has strong technology, but also has great industry resources.

After the announcement of the airdrop, NerveNetwork has received many wallets’ and exchanges’ supporting.

In the crypto currency circle, every good potential project may enrich you.
Based on the principle of not missing any opportunity to become rich, we make a deep exploring of Nerve and want to discover new wealth opportunities from it.

Everyone is a miner, revitalize BTC and ETH which you are holding

Let’s first take a look at a very interesting innovation in Nerve.

Cross-chain project Nerve is a decentralized digital asset service network .
After its online, Nerve will gradually realize the cross-chain docking of many valuable digital assets.

Nerve had announced that it was docking BTC and ETH, and had received high attention from the Ethereum community.

After docking these valuable mainstream digital assets through cross-chain, NerveNetwork will support all the assets on the chain to participate in the Staking of the Nerve mainnet consensus.

This means that as long as you hold digital assets like BTC, ETH, BCH, etc., you can become a miner, participate in staking, and earn rewards.

If you want to revitalize BTC and ETH in your hands and get more rewards, it will be a very stable way to participate in Nerve’s mainnet staking.

There is a set of special mechanism in Nerve’s incentive mechanism that different assets and different staking methods has mechanisms with different weights.Thus you need to know it if you want to earn more rewards.

The weight coefficient in Nerve defaults to 1, but the weighting coefficient can be increased in the following cases:

1.When NULS and Nerve are calculated, the weight coefficient is multiplied by 2;
2.The deposit of the virtual bank is multiplied by 4 when calculating;
3.For non-virtual bank consensus nodes, the weight coefficient is multiplied by 3 when calculating;
4.For regular staking, according to different times, set different weight coefficients, as shown in the following table:

The Term Weight Coefficient
3 Months 1.2
6 Months 1.5
1 Year 2
2 Years 2.5
3 Years 3
5 Years 4
10 Years 5

5.When any two of the above 4 cases are satisfied at the same time, they can be superimposed.

Nerve’s white paper shows the formula for calculating the weight:
image

Supposing you have 5 BTC in your account, and when you cross-chain transfer them to Nerve main network, 1 BTC is equal to 3500 NVT (Nerve mainnet token),

You have regularly staking 5 BTC, and the locking date is 5 years, then the weight of this account is 350000, according to the formula:
image

If you have NULS in your account, your weight coefficient will become 2.

For example, if you have 1000 NULS in your hand, when you transfer them to Nerve main network, 1 NULS is equal to 12 NVT,You have regularly staking 1000 NULS, and the locking date is 6 months,then the weight of this account is 20760, according to the formula:
image

Understanding how Nerve calculates the staking weight of all digital assets on the chain will help you better choose the asset type and staking method, so that you can get more staking rewards.

Become a nerve mainnet node and earn more rewards.

If you can become a Nerve mainnet node,compared to ordinary staking ,the reward you can earn will definitely be more impressive.

To become a Nerve mainnet node, you need to have an understanding of Nerve’s consensus mechanism.Here we briefly explain the advantages of the Nerve consensus mechanism and what you need to pay attention to if you want to become a Nerve mainnet node.

Nerve adopts POCBFT, a consensus mechanism for independent innovation.
POC refers to Proof of Credit, which is the abbreviation of credit consensus mechanism, and is the consensus mechanism used by NULS innovation. BFT refers to Byzantine fault tolerance.

As the name implies, POCBFT is the product of the combination of POC and BFT by the Nerve development team.

POC has the dual characteristics of DPOS and POS, which can realize the rotation of blocks to be fair and efficient. At the same time, it can also allow all token holders to participate in staking and earn consensus incentives.

The integration of BFT allows Nerve to achieve the non-rollback feature of the blockchain, that is, final consistency.This reduce Nerve’s block confirmation time, allowing Nerve to have more business application scenarios.

BFT was added to the Tendermint consensus mechanism adopted by another well-known cross-chain project Cosmos. Its performance is about 6 ~ 8 seconds while Nerve will likely reach a block speed of about 1 ~ 3 seconds.

It can be seen that the combination of POC and BFT not only allows Nerve to inherit the advantages of the NULS POC consensus mechanism, but also allows Nerve to have a more excellent performance in function.

After talking about the advantages of POCBFT, let’s take a look at the relevant design of the Nerve main network node.

Nerve’s main network nodes are divided into three types: ordinary nodes, consensus nodes, and virtual bank.
image

The ordinary nodes are responsible for functions such as transaction collecting, block and transaction verifying, and providing services for applications.Ordinary nodes will allocate consensus incentives based on the proportion of pledged assets in the pledged assets of the entire network.

The consensus nodes are responsible for the maintenance of the blockchain, and the mortgage deposit can be used to create the consensus node. The deposit cannot be less than 200,000 NVT.The number of consensus nodes on the Nerve mainnet is fixed at 35, and the mainnet will choose the 35 nodes with the highest deposit to become consensus nodes.

The virtual bank is responsible for the maintenance of cross-chain assets, including the creation and management of multi-signature accounts or smart contracts for parallel chains, the creation and broadcasting of asset transfer transactions, etc.The virtual bank is selected from the consensus nodes, and the default is the top 15 consensus nodes with the largest deposit The weight of the virtual bank’s reward is twice that of the consensus node.

From the above introduction, we can see that if you want to become a Nerve mainnet node owner and participate in staking, you need to hold at least 200,000 NVT.

If the number of asset pledges on your node can be ranked in the top 35 of the entire network, you can become a consensus node.If you can become the top 15, you will also become a virtual bank node, so that your reward weight will be twice that of the consensus node, and there will be more reward.

Will Nerve create marvellous myth?

It has been more than two years since the bull market in 2017. Bitcoin has also halved for the third time. Many of the blockchain projects with aura have gradually disappeared in people’s eyes.

NULS has been active in the industry for more than two years, and has deeply cultivated technology and products. It has a very good reputation in the industry and has a group of loyal supporters both home and abroad.

The launch of the cross-chain project Nerve by the NULS technology community not only proved the technical strength again, but also demonstrated the steady development of NULS.

Nerve, as a cross-chain project in the NULS ecosystem, can be said to have both technical strength and innovation from its birth. This can be seen from Nerve’s multi-currency staking, three-layer node architecture, and POCBFT consensus mechanism.

Now, Nerve’s airdrop is about to start, which means that the online of Nerve will be getting closer and closer.

Do you think Nerve will be the next marvellous myth?