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NerveNetwork

NerveNetwork

Decentralized Digital Asset Service Network.

Nerve Network (NVT) - decentralized network for servicing digital assets

Nerve is a decentralized digital asset servicing network, which is a set of inter-network interactive protocols based on the NULS microservices platform and developed with the NULS chain building tool - ChainBox. It aims to break the island of value status of the blockchain, create a cross-chain interoperable asset interaction network, and provide all the basic support for the Defi application ecosystem. Providing digital asset holders with truly secure, free and transparent Defi application services.

The goal of NerveNetwork is to develop a universal cross-chain blockchain that uses a cross-chain communication protocol. Cross-chain blockchain allows independent blockchains to communicate with each other so that they can communicate with each other because they are built in a standardized way. This is achieved through the standard translation layer of the Nerve protocol.

An internetworking protocol can be designed according to common or common interface standards so that more major digital assets can be accessed. We have added a protocol conversion module to communicate with other blockchains. Blockchains with different structures can then be converted into a set of common asset types so that information can be transferred between different blockchains. The asset types can then be identified by cross-chain modules in the NULS ecosystem. By checking and updating the virtual bank and consensus nodes, the Nerve cross-chain communication protocol can be loaded.

In this way, NerveNetwork can provide a new Lightning smart network for major digital assets such as BTC. Bitcoin has a long confirmation time and high transfer fees. Nerve can initiate fast transactions with low processing fees and can implement second level confirmation on Nerve. Most major digital assets such as BTC do not have smart contracts. For example, Defi applications such as decentralized mortgage lending and decentralized exchanges cannot be implemented directly on their own networks. But with Nerve Network, more application scenarios can be easily implemented.

By opening the closed loop of blockchains, the main digital assets can be quickly transferred to various blockchains of the NULS ecosystem. Any blockchain is like a local network. Assets in the chain can only circulate in a closed cycle. With NULS NerveNetwork, cross-chain transactions can be processed by configuring the cross-chain module so that the blockchain can connect to other blockchains (i.e. other types of LANs with network structures such as BTC/ETH).

NerveNetwork is an open and transparent multi-asset engagement platform that provides basic support for the Defi Application Ecology. Whereas, when we list digital assets such as BTC on centralized platforms such as exchanges, centralized financial wallets, etc., they can embezzle your assets at will. These platforms are a black box and cannot guarantee the security of their assets. An asset transaction platform can be built on Nerve, all data is open and transparent, and your assets are controlled by multi-signature through a cross-chain virtual bank to ensure asset security.

NerveNetwork consists of three layers:

1.The virtual bank is responsible for servicing cross-chain assets, including the creation and management of multiple accounts or smart contracts in parallel chains, the creation and broadcast of asset transfers, etc. The virtual bank is selected from consensus nodes and 15 consensus nodes. with the largest amount of contributions will be selected by default. Virtual banks manage multi-signature addresses as required for smart contracts. The smart contract is signed by the user and the virtual bank.

2. Consensus nodes are responsible for maintaining the blockchain. A consensus node can be created with a deposit that cannot be less than 200,000 NVT and is unlimited. The number of consensus nodes is fixed at 35, and the top 35 nodes are selected based on their deposit to support the entire NerveNetwork.

3. Shared nodes are responsible for collecting transactions, blocking and validating transactions, and providing services to applications.

Using BTC as an example, the interworking process looks like this:

-Transfer to cross-chain assets (deposit):

The user transfers BTC to a Bitcoin chain multi-signature account managed by a virtual bank and fills in the notes with their Nerve-ADDR address.

The Nervemon Virtual Bank tracks the Bitcoin network transaction, verifies the confirmation number, prevents a fork rollback attack, collects the coin creation transaction into the mapped NerveADDR user address, and signs the transaction. It will then broadcast the transactions, collect 66% of the signatures from the virtual bank, pack the transaction into

a block, and then update the ledger. After that, the user has BTC assets in the Nerve ecosystem. The actual BTC assets in the Bitcoin network are guaranteed not to be used by the virtual bank.

-Withdraw cross-chain assets (output):

The user collects an output transaction with the target bitcoin address BTC-ADDR, signs and broadcasts the transaction. Once the consensus node receives the transaction, it will verify the signature of the transaction and package the transaction into a block upon confirmation. After the block is confirmed, each node collects a multi-signature transaction and broadcasts it to the Nerve network. When the number of signatures is sufficient, the transaction will be broadcast to the Bitcoinmain network, and the bitcoins are transferred to BTC-ADDR. from a Bitcoinmultisignature account. After

that, the transaction is completed.

NDEX (Nerve Network DEX)

As a complete ecosystem of Defi applications, the asset exchange will become an important infrastructure. Compared to a centralized exchange, the DEX will have great promise as a fairer and more transparent solution.

NDEX is based on the Nerve network and is designed as an open exchange that anyone can participate in. NDEX is implemented using on-chain negotiation. All consensus nodes participate in the matching of transactions and ensure the fairness of the exchange.

Timeline

Further reading

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GitHub - NerveNetwork

References

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