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Template:Short description Template:Infobox cryptocurrency

Nervos Network is a proof-of-work blockchain platform[1][2] which consists of multiple blockchain layers that are designed for different functions.[3] The native cryptocurrency of this layer is called CKB. Smart contracts and decentralized applications can be deployed on the Nervos blockchain. The Nervos Network was founded in 2018.

History

According to the organization's website, Nervos Network was founded in 2018 by Jan Xie, Terry Tai, Kevin Wang, Daniel Lv, and Cipher Wang.[4]

Architecture

Nervos Network utilizes multiple blockchain layers to for different functions.[3] The base layer prioritizes security and decentralization, and is optimized to verify transactions. It can settle transactions submitted from upper layers and resolves disputes. Layer 2 and above are designed for smart contract and decentralized applications.[5][6]

NC MAX

Layer 1 achieves cryptographic consensus through proof of work, using a modified version of Bitcoin's Nakamoto consensus algorithm: NC-MAX. This algorithm changes the original in three ways: a two-step transaction process (propose, commit) which aims to improve block propagation; dynamic adjustment to block interval based on network performance to keep orphan blocks low and improve transaction throughput; and accounting for all blocks (including orphans) during the difficulty adjustment calculation to resist "selfish mining attacks," whereby one group of miners can increase their own profits at the expense of other miners on the network. NC-MAX was presented at the Internet Society's Network and Distributed System Security (NDSS) Symposium in 2022.[7] The consensus process uses a novel hash function called "Eaglesong."[8][9]

References

  1. ↑ "China's CMB International and Nervos Foundation launch $50m blockchain fund". 20 May 2021. https://www.cityam.com/chinas-cmb-international-and-nervos-foundation-launch-50m-blockchain-fund/. 
  2. ↑ "Public blockchain Nervos Network raises $72 million in token sale". 6 November 2019. https://www.reuters.com/article/crypto-currencies-nervos-idUSL2N27L22I. 
  3. ↑ 3.0 3.1 "Crypto Startup Raises $28 Million To Combine Public And Private Blockchains For Enterprises". https://www.forbes.com/sites/sarahhansen/2018/07/18/crypto-startup-raises-28-million-to-combine-public-and-private-blockchains-for-businesses/?sh=2f600e155efe. 
  4. ↑ "Team" (in en-US). https://archive.nervos.org/about/team. 
  5. ↑ "Better Than Bitcoin? This Man Has a New Plan to Disrupt the Finance Industry". 2 October 2019. https://www.newsweek.com/blockchain-decentralize-economy-nervos-1462747. 
  6. ↑ Zhong, Lin; Wu, Qianhong; Xie, Jan; Li, Jin; Qin, Bo (2019-04-01). "A secure versatile light payment system based on blockchain" (in en). Future Generation Computer Systems 93: 327–337. doi:10.1016/j.future.2018.10.012. ISSN 0167-739X. 
  7. ↑ Zhang, Ren; Zhang, Dingwei; Wang, Quake; Wu, Sichen; Xie, Jan; Preneel, Bart (2019-04-01). "NC-Max: Breaking the Security-Performance Tradeoff in Nakamoto Consensus" (in en). Network and Distributed Systems Security (NDSS) Symposium 2022. ISBN 978-1-891562-74-7. https://www.ndss-symposium.org/wp-content/uploads/2022-370-paper.pdf. Retrieved on 2022-10-05. 
  8. ↑ Network, Nervos (2019-08-03). "The Proof-of-Work Function of Nervos CKB" (in en). https://medium.com/nervosnetwork/the-proof-of-work-function-of-nervos-ckb-3cc8364464d9. 
  9. ↑ Szepieniec, Alan; Ashur, Tomer (2020). "Eaglesong: An ARX hash with fast diffusion". Proceedings of the Romanian Academy, Series A 21 (1): 69–76. https://acad.ro/sectii2002/proceedings/doc2020-1/09-Szepieniec.pdf. Retrieved on 2022-10-05. 

Further reading

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