Author | Yun Yin
According to the official news of the cross-chain project NerveNetwork, the project officially opened the Binance BSC public chain today. Users can then transfer the BNB and BEP20 assets of the BSC public chain to the Nerve network through cross-chain transactions, and then to the NULS and ETH networks. At the same time, it also supports all assets on Nerve to enter the BSC network, which further enriches the cross-chain ecology of the BSC public chain and NerveNetwork, and has made another major progress in establishing cross-chain interoperable assets and information transmission channels.
Since then, NerveNetwork has officially opened up the three public chains of ETH, BSC, and NULS. Assets of any platform can be transferred across several other platforms, which can help users to participate in the ecological construction and development of these public chains more simply and conveniently. DeFi farming also laid a more complete infrastructure for the subsequent larger-scale applications of blockchain technology.
BSC retweeted Never's Twitter
In fact, with the rapid development of the DeFi market, the demand for interoperability of mainstream blockchain assets is increasing. The total issuance value of WBTC, such as BTC's cross-chain assets on Ethereum, has exceeded 2 billion US dollars. At present, many mainstream blocks Chain projects are considering the introduction of cross-chain technology, opening up the connection channel with external blockchain networks, and realizing cross-chain collaboration of assets and data. This is the main development focus of NerveNetwork.
NerveNetwork is a cross-chain project, which was officially launched in July this year. Its goal is to establish a decentralized digital asset service network, break the value island of the blockchain, and provide better underlying support for the DeFi application ecosystem. Let digital asset holders enjoy truly safe, free and transparent DeFi application services.
It is understood that NerveNetwork uses the original POCBFT consensus mechanism to greatly increase the block generation speed, maintaining an average of about 1-3S, providing the most convenient infrastructure for asset cross-chain transfer. Nerve's cross-chain is implemented based on heterogeneous chain smart contracts or multi-signature accounts. 15 virtual bank nodes ensure the security of assets on the heterogeneous chain smart contracts (multi-signature addresses), and handle the cross-chain entry and exit of assets. transaction.
Take the process of heterogeneous chain assets entering NerveNetwork as an example. The addresses on the heterogeneous chain first transfer the assets to the smart contract (multi-signature address). The virtual bank determines the payment address on Nerve according to the rules, and generates coinage transactions to create The entire process of the same amount of assets to the receiving address is completed by the virtual bank multi-signature.
The virtual bank is the core part of NerveNetwork's three-tier node mechanism to maintain the stable operation of the main network. Ordinary nodes are responsible for functions such as transaction collection, block and transaction verification, and providing services for applications; consensus nodes are responsible for the maintenance of the blockchain, and the collateral deposit can be used to create consensus nodes; virtual banks are responsible for the maintenance of cross-chain assets, including creation and management of parallel Multi-sign accounts or smart contracts on the chain, create and broadcast asset transfer transactions, etc.
In recent months, while opening up multiple public chain networks, NerveNetwork has also built NerveDEX, flash swaps, options and other applications in its own cross-chain ecology, which have been widely welcomed and recognized by users.
At present, the total assets of NerveNetwork's main network have reached 170 million U.S. dollars, and node pledge funds have exceeded 20 million U.S. dollars. Among them, BNB, HT, OKB and other platform coins are also pledged. The NVT pledge rate of its tokens has reached 44%. The internationally renowned exchange Bittrex was launched.
At the same time, most cross-chain projects are self-centered, and all projects revolve around the center to form an ecosystem. Nerve has defined itself as a service provider from the beginning of its design, serving all public chains and even alliance chains. Cross-chain is just a technical means in all services to assist the development of the entire blockchain industry. For example, it can be used as an external public chain. The Lightning Network realizes second-level confirmation and close to zero fee, which helps the assets of external public chains to be transferred to third-party public chains conveniently.
For the entire industry, the emergence of Nerve has greatly expanded the possibility of cross-chain development, and the establishment of the entire industry's value circulation network has a great role in promoting. In the future, with Nerve's further development, more and more public chains will integrate ecology and enrich application scenarios through Nerve, and make more positive contributions to the cross-chain ecology.
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