Nervos Network Blockchain Believes Trust is Incredibly Valuable But Has BoundariesMarch 31, 2020
The Nervos CKB (common Knowledge Base) is the fundamental layer 1 Proof of Work Blockchain. It creates the foundation for all the Layer 2 protocols, integrations, and scaling solutions facilitated on the Nervos Network.
Terry Tai, Nervos Cofounder, and CEO stated,”Nervos, in our design concept, is different from other public blockchain projects in many ways.”
Terry Tai controversially opines that POW is the only choice for Layer 1 protocol. He also feels that blockchain technology is still in its very early phase. He opined that there is a lot of infrastructure work that should be done before any kind of mass adoption.
Terry Tai, in an interview in response to a hypothetical question about a chance to meet Satoshi Nakamoto, who is a male in his deathbed, stated he would ask, “Where is your private key? Would you mind me helping you burn the coins?”
Nervos Network CEO acknowledged that the project is in its early stages. He described his community members as futurists with an adventurist spirit. He also stated that he respected the BTC and Ethereum communities.
Sydney Ifergan, the Crypto Expert, tweeted: “Nervos Network believes that trust is incredibly valuable in the cryptocurrency and blockchain industry. They believe that trust has barriers. And, that sums up everything else about them. “
Nervos Network Different From Others
The NErvos network is different from several other projects in the cryptocurrency space in that it provides flexible support for crypto primitives. Also, there is no need for a hard fork.
Their Layer1 protocol CKB does not use an account model, rather they use a UTXO like model, and they call it Cell model. It facilitates improved Bitcoin Interop, and it can take advantage of UTXO tech like the MimbleWimble. The Layer1 protocol CKB makes use of PoW. Also, Nervos is not just a single blockchain; instead it is a layered architecture that included both the Layer1 and Layer2 protocols.
The Nervous network is very clear about the fact that trust is common in families, but not in companies, nations, firms, and giant institutions. They opine that blockchain technology can break through the barriers of trust to establish bilateral cooperation efficiency in a way to strengthen the collaborative relationship in human beings, thus making blockchain technology more prosperous.
The Nervos Network has announced a public grants fund to fuel the growth of their ecosystem for their permissionless layer, one blockchain – the Nervos Common Knowledge Base (CKB).