Blockchain technology is set for an explosion of innovation, which will see a wide range of solutions for different use cases, including layer 1 and layer 2 blockchains communicating and working together. Nervos, a blockchain network with cross-chain bridges, has focused on scaling solutions and developing bridges to connect them together. Its token, CKB, has rallied nearly 500%, and Nervos has launched a variety of new scaling solutions on mainnet, including YokaiSwap and Kollect.me. Nervos is also working on layer 2 solutions compatible with Ethereum, such as the Godwoken chain and the Force Bridge cross-chain bridge.
The Blockchain Explosion of Innovation
Blockchain technology is about to witness an explosion of innovation, similar to the upgrade from dial-up modems back in the early days of the internet. However, this time, there won’t be one simple scaling solution like cable modems. Instead, we will see different solutions for different use cases, including layer 1 and layer 2 blockchains that work together.
The Introduction to BitBoy Crypto
Welcome to BitBoy Crypto, the largest and greatest crypto community in all of the Interwebs. On this channel, Ben showcases how to make money in crypto every day. For deeper knowledge in crypto, make sure to check out bitlabacademy.com.
A Sponsored Look at Nervos
In this sponsored video, we’re going to take a look at Nervos, a blockchain network for scaling solutions with cross-chain bridges to help the crypto industry reach mass adoption.
The Emergence of Layer 1 and Layer 2 Blockchains
The demand for block space in the crypto world is quickly outpacing the supply on any single network. This is why so much activity has been moving onto layer 1 blockchain sidechains and layer 2 scaling solutions. Nervos has been preparing for the multi-chain future by focusing on these scaling solutions and developing bridges to connect them together.
The Growth of Nervos
Nervos has launched a variety of new scaling solutions on mainnet. The token for Nervos, CKB, has had an incredible year, rallying nearly 500% as the team has been building out the network. Nervos is also one of the few smart contract platforms that uses a proof-of-work mining algorithm called NC-Max, offering a 10X throughput increase over Ethereum’s layer 1.
The Focus on Scalability and User-friendly Environment
To enable onboarding of new users who are priced out of Ethereum because of the gas fees, Nervos has been working on scalability. People want to use a network that is fast, cheap, and user-friendly, and these are some key areas that Nervos is most focused on.
Since Nervos has a focus on cross-chain interoperability, several applications are already launching on the Nervos layer 1, including YokaiSwap, the first decentralized exchange on Nervos. YokaiSwap will lay a strong foundation for future developers to build on. YokaiSwap will also have ADA pairs as soon as the Cardano bridge is finished and will likely offer pairs for all of the different networks that Nervos is connected with.
The Opportunities of Kollect.me Trading Platform
Kollect.me trading platform offers quick transactions and low trading fees on unique digital art. According to the roadmap, Kollect will get a ton of upgrades and new features over the next following months, including the ability to mint NFTs, collect royalties, and onboard with fiat currency.
The Promise of Nervos
Over the next year, Nervos will continue to grow its DeFi ecosystem to provide projects and developers with the tools they need to build great applications. Some of the most anticipated releases within the following months are the launch of borrowing and lending platforms, along with the completion of the Cardano bridge.
In conclusion, Nervos is one of the most promising projects in the blockchain space worth keeping an eye on.