Hello, We had an AMA with Nerve Network on November 04, 2020. For those of you who are late to follow or watch, you can read the following AMA recap.
- Twitter Questions
- Live Questions
Welcome to the CryptoFun community, thank you for taking the time from your busy life to attend the AMA today!
We are glad to meet here @Berzeck1
We really appreciate your coming to AMA today 👏👏😊
nice to be here! hope we have a great time learning more about Nerve
So before we start AMA, can you please introduce yourself to the our community? @Berzeck1
Sure, I am a sofwtare engineer with 20 years experience. Founder of Nerve and Western director for NULS. I created the microservices infrastructure on which Nerve and nuls are based (called Nulstar)
Thank you for the introduction, we are happy to know and motivate us to be as successful as you 👏👏
Allright, in the first session we will give a little question about Nerve Network, after you finish answering please say "done". So, are you ready? @Berzeck1
SESSION 1 PROJECT INTRODUCTION
Q1. Starting with the very basics, can you provide a simple description of the NULS coin and the Nerve Network and what NVT is for our Community?
NULS is a microservices-driven blockchain project that uses the Proof of Credit (PoC) consensus mechanism (dPoS plus credit rating) to mine via staking. The NULS modular design features NULSTAR, a microservices-based framework enabling enterprise-grade blockchain solutions for smart contracts, private chains, public chains, dApps and NRC-20 tokenization.
Nerve is the DeFi solution for NULS, its a cross chain platform that is very fast. 2 seconds for finalized transactions and just 1 confirmation needed to be considered secure (Nerve is a REAL Defi ready bloockchain)
also it has 2000+ TPS... ABove it we created one of the fastest and cheapest DEX around, nervedex.com
its almost like a normal exchange experience Nuls and Nerve complement each other
Q2. Can you share some of the greatest "lessons learned" after exploring the crypto ecosystem over the years. and what is being applied to the Nerve and NULS ecosystems now?
the biggest lesson (that many projects did not learn) is that you need to make compromises designing blcokchain, for example you need to find a balance between absolute decentralization and efficiency and security
also, the new ways to produce software is to make fast a small changes
all biggest software companies in the world are trending with this concept including google microsoft, facebook, etc. That is why we invested a year designing from scratch a microservices based solution that enables us to adapt end evolve faster than anybody
proof of that is that we developed 3 blcokchains 9 months each without any serious issue on main-net, something that not even bigger projects have managed to achieve
Q3. Why did you decide to split your project into two Nerve and NULS? Instead of combining the two into one?
this is something we are being asked a lot. The reason is technical, to achieve the amazing speed and efficiency of Nerve we need to make some compromises for example it doesn't have a smart contract engine, it uses NULS one
so instead of having one big fat bloated blockchain that tries to do everything (and do it in a mediocre way) we split in 2, with different requirements and goals
that can evolve at their own pace, making maintenance and adoption a lot more simple this has been proved a good decision as NerveNetwork already supports features not seen on other bigger projects, for exmaple you can stake RIGHT NOW your ETH, USDT, USDC, NULS, etc to receive NVT rewards
Q4: Every day there are cryptocurencies projects that offer very sophisticated technological innovations, what makes Nerve and NULS confident with all of its technology? and how can you handle it and stay ahead?
1] As explained, our architecture based on microservices enables us to adapt faster than anybody. Let me put this way, when Vitalik finds the ultimate scalability solution, while he is receiving the Turing award we will pack the solution in a microservice and deploy to our clients months before Ethereum
2] Our development team is second to no one, with little budget we managed to create 3 blcokchains with no serious main net issues in very little time.
We already offer in production features that bigger projects just have on power point presentations
like SCO program, ChainFactory, NerveDEX, etc
Q5. Finally, what are the main achievements that the Nerve / NULS project has achieved and what are planned before the end of this year / next year?
1] Building blcokchains from scratch with complete new architecture without serious issues on mainnet
2] Building unique products that already working like SCO, ChainFactory, ChainBox, Nerve, NerveDEX
The next planned milestones for this year are:
NULS: add some cross chain features to NULS
Nerve: Add more blcokchain proojects, next one is BSC (Binance Smart Chain) and enabling all functionality for mobile devices
this is a roadmap 2021
SESSION 2 BEST QUESTION FROM TWITTER
Q1. Dari Twitter: @khaerunnimah13 Crosschain technology has made great progress since it was first conceptualized by projects such as the Lightning Network. NerveNetwork, the new cross-chain star has developed the BTC cross-chain. What innovations did the Nerve Network bring to revitalize the usability of BTC?
Lightning network has a lot know issues so Nerve can be considered a next gen 2nd layer solution, BTC inclusion to Nerve is planned in the upcoming months and will enable to make BTC transaction in 2 seconds with just 1 confirmation needed
this is what real companies need, speed and efficiency at very cheap rates
after all, the only thing that companies care about is to reduce costs and increase income, and are blcokchains are designed to do just that. Proof of that is that we already have companies building real solutions from our platforms like rampdefi.com, Earheart, goblinswap,vibook etc
also Nerve allows cross chain staking which is definitely another innovation in the space, make your ETH, USDT,NULS, etc produce great rewards right now!
Q2. From Twitter: @ddmahendraa13
What is your real goal of doing an AMA every month for both the NULS project and the Nerve Network? You are the founder of 2 established and well-known companies, So why do you need to do a routine AMA? We are very curious to know what is the main purpose behind it?
I am just the founder of Nerve, I work for NULS but i am not the founder. We have great technology already working but we were not able to spread the news efficiently
very few people know what we have so we need to reach out more communities to let people know that we are already ahead of the competitiion in working technology and we alreaady have companies devoloping solutions with our tech
we restructured the marketing effort so expect to hear about us a lot more in the upcoming weeks
Q3. From Twitter: @OmanOkar
NerveNetwork nodes are divided into three levels.
1. Virtual bank
2. Consensus node
3. Common node
Do different node tiers have different responsibilities in the network?
yes! thats another innovation we introduced...
Ordinary nodes: just collect and validate transactions Consensus nodes: have also the power to introduce new transactions to the blockchain Virtual banks: takes care of monitoring and executing cross chain transactions
consensus nodes are selected from the 35 nodes that has more NVT commited
and virtual banks are selected between the top 15 that have more NVT committed of course each upper layer receives more rewards
Q4. From Twitter: @SruDewi
To use the Nerve interchain system, I need to convert from ERC20 to NULS? Can I operate the interconnect without having to exchange my native tokens? And about transactions how the Nerve Network makes 0 fees seem free?
To use Nerve you don't need NULS, when you create a Nerve account ( wallet.nerve.network) an ETH address is associted for your account on which you are the only one that posses the key. You just need to send ETH to that address and thats it
Virtual banks takes care of the details of the cross chain operation in the underlaying protocol
Q5. From Twitter: @kaaiivvaaan
Based on the decentralized, open and transparent multi-asset value network built by Nerve, what benefits do Bitcoin holders, Bitcoin miners and developers of the Bitcoin community get?
Bitcoin will be supported in the upcoming weeks, right now we focused on ETH and BSC (Binance smart chain that will be ready in a few days) in general asset holders enjoy 2 second transactions and when using our NerveDEX they can trade their assets and expect finalized transactions in 2 seconds as well at the cheapest rates in the market
also many blcockhains supproted are allowed to stake to earn NVT rewards if you dont want to trade them
so if you feel bearish you can stake your USDT, USDC, PAX and get rewards
so you dont ever need to leave our network again,
On the other hand developers just need to implement one interface to support all assets we support, simplifying the creation of multi asset applications
and therefore the costs
Nerve is definitely a next generation cross chain solution that is REALLY DeFi ready
and again its not just an idea on a beautiful power point presentation, its already done and working in production
The second segment has over, thanks for your answers, we really hope Nerve & NULS will be very great in the future👏🥳
SESSION 3 LIVE QUESTION
J Mags | Blockchain Infinity:
It is my first time hear about SCO, can you please explain what it is, the difference between ICO and IEO and how did NULS benefit from it?
with SCO, you can stake NULS on a project and receive the projects tokens, the project receives your NULS, so its an excellent mechanism because YOU NEVER RISK YOUR NULS when investing on new projects
as you dont risk your investment then its probably more regulation friendly
also, you can unstake whenever you want and this put pressure to projects because they need to make progress fast or risk to lose stakers
another advanatge is that unlike airdrops, its an excellent distribution mechanims because those who stake in your project are most likely to believe in it and therefore not dump immediately when receiving the project tokens
take a look at pocm.nuls.io
What is the most unique thing NerveNetwork brings to the blockchain community? How is it better than other platforms?
as explained, we are one of the fastest and cheapest cross chain asset platforms, and we already enable cross chain staking at the blcokchain level
for some assets supported in our platform
thanks to many features we were able to build one of the fastes and cheapes DEX's around called NerveDEX (nervedex.com)
try it, it feel like a normal exchange because its truly fast
Why does NerveNetwork $NVT use the ERC20 blockchain? Isn't Nerve able to use the NULS blockchain. Is Nerve just following the DeFi trend, so using the ethereum blockchain.
NVT has its own blockchain, we just had created an ERC20 with a few tokens so Uniswap users can purchase them directly
this is the contract address... for transactions Nerve DOESN'T use Ethereum because its slow and expensive, we offer exactly the opposite, try uniswap and then try nervedex.com and you will understand what i mean
What are the Current major issues in Businesses which NerveNetwork is trying to solve? as well as which types of businesses $ NerveNetwork is focusing on ?
1] Speed and efficiency, as explianed above we excel in these areas and companies only care about reducing costs and increasing income, and thats exactly what our platform offers to them
2] Developers that need to build DeFi applications that need to supprot several asets need just to implement a single interface with Nerve instead of trying to support assets individually
significatively saving time and costs
3] Give the possibility to earn rewards with stable coins like USDT, USDC, PAX
4] And of course get rewards for most assets supported in nerve
Bang Ganteng || 🇲🇨 JTS 🇲🇨 🌍💕:
@Berzeck1 Nerve Network has a token with a name #NVT Can you explain how an investor can hold the coin?
And if the investors have already managed to hold onto the NVT does the NerveNetowrk team have the continuation to improve The price of this #NVT? Currently the $NVT price is $0.109 Will there be improvements for the future?
you can create your NVT account at wallet.nerve.network
you can use nervedex.com to trade USDT for Nerve for example or you can use normal exchanges like MXC, Cointiger, bitmart, etc
Nerve is very new, and we already offer a lot of features already explained, OF COURSE we have a lot more planned in the near future and will continuously bring value to the network,
we have some surprises to be announced very soon
and if you have read all AMA by now you will know that thanks to our base infrastructure, we can evolve faster than anybody in proportion with less resources
Alright, you are on fire @Berzeck1 So i think most of the important questions have been already answered. Lets end it it here 👏👏
thank you for the opportunity, if you guys have your question answered please join our telegram channels and you can ask there, i will answer all of them ☺️
MORE INFO ABOUT NERVE :
Community Group: nerve.network community
Channel telegram : nerve.network channel
Twitter : nerve.network twitter
Wallet: nerve.network wallet