AMA series Nerve Network With Cryptowid Telegram Community
On December 16,2020 at 09:00 UTC 4pm WIB Indonesia Time in the Cryptowid Telegram Group, AMA Nerve Network started with Mr Berzeck – Founder of Nerve Network . When campaign, 10 lucky AMA participants when best asking questions Twitter and AMA sessions will get a total prize of 100$ USD in NULS The following is a summary of AMA questions and answers announced by the moderator and guest speaker.
Mr. Berzeck : I am a software engineer with 20 years of experience, i have developed complex system and have experience managing teams. Right now i am founder of NerveNetwork and the Western Director for NULS
SEGMENT 1 INTRODUCTION PROJECT
1. Some users may not be familiar with Nerve Network , can you give them a brief introduction first ?
Mr. Berzeck : Nerve is a decentralized digital asset service network based on the NULS micro-services framework, which uses the NULS ChainBox to develop a blockchain cross-chain interaction protocol. The aim is to break the isolated blockchain value and establish a cross-chain asset exchange network to provide all the necessary underlying support for the Defi application ecosystem.
It was designed to complement NULS, Nerve offers real DeFi features like 2 seconds for blcok creation, 2000+ TPS and just ONE confirmation needed to be considered secure
Thanks to this we were able to buld one of the fastest and cheapest cross chain DEX’s out there, called nervedex.com
You just need 2 seconds to finalize any transaction, people can add their own pairs at 200 NVT each one, also people can stake other assets to earn nerve like ETH, BSC, USDT ,DAI , etc
2. As we know, every serious project always have their own roadmap. Could you please explain Nerve Network roadmap and also what phase is currently ongoing?
Mr. Berzeck : Nerve is production ready and partners are currentlybuilding their solutions with nerve.
Upcoming months will be about integartion more blcokchain assets to the platfom like BTC, tron and others.
And polish our products as well getting new partners is also the focus for the upcoming months.
3. Can you tell us what are differen and advantage from stake or farming in Nerve Network Platform ?
Mr. Berzeck : You can stake with different tokens like ETH, USDT, DAI, BNB and several others… also with a few of them you can choose the commitment time.
The more time you commit your assets then the more rewards you will get proportionally.3 months, 6 months, 1 year , etc are some options. this summeed with unnique features we have that i described above, makes our platform very attractive for developers and we already have partners that are building.
5. Can you introduce Nerve Network next strategic plan?
Mr. Berzeck : The next step that i can talk about consist investing a lot of resources bringing partners to the ecosystem, also, as we have the unique ability to cross stake other assets, we are talking to exchanges so they can offer passive staking to their holders.
This way several assets will enter the network and of course interest will increase exponentially.
SEGMENT 2 QUESTION FROM TWITTER
1. From @masronaldi
I am worried about transaction speed and fees. Can you explain the transaction speed and fees in your crosschain technology?
Mr. Berzeck : We manage multiple assets at 2 sconds for transactions, 2000+ TPS and just 1 confirmation needed to be considered secure… thats what is needed for real DeFi applications.
Abuot fees, each transaction costs a tiny fraction of a cent which also makes an extremely cheap solution.
2. From @lintanger
Can you explain why Fair Swap uses the “AMM” Automated Market Maker model, What are the advantages and disadvantages of Fair Swap using this model?
Mr. Berzeck : We are not implemeting AMM for the time being.. of course i wont comment of other projects. Its important to differentiate a DEX and a swapping platform, we are a DEx so we dont use algorithms for purchases and sellings.
3. From @Manobager12
Currently, many projects want to cross-chain. I see nerve has done it. most of them do not find their goals and scenarios when pursuing these main targets. What does Nerve Network intend to do to actually achieve its targets ?
Mr. Berzeck : First: unlike 95% projects, we are already in production with a real working product
Our goal is to integrate as much as assets as we can so developers that need to use several type of assets just need to develop ONE interface and they will be able to use ALL assetes we support.
This certainly reduces costs and resources so its a very attractive solution. Also we are one of the very few that support cross chain staking even for stable coins which in the near future will be attractive for a variety of investors
In the end we want to make very easy to move and swap other assets around so more developers will be interested building in our platforms.
4. From @bolangsiBerto
We all know recently Nerve and NULS have partnered with Peet DeFi. Why are you doing this partnership? What are the benefit for investors ?
Mr. Berzeck : Do you know the real reason on why BTC is alive and still king? Hint: its not because of the tech, It is because it has managed to build a huge ecosystem around it.
We will do the same and will invest huge resources building our ecosystem with a lot of partners and that will bring true value to our platforms that will endure any bear market long term.
PeetDeFi is one of our partners that has taken the smart decision to build in our platforms and we will help them to build a successful product directly ☺️ thats another difference with other blcokchains.
We invest human resources helping directly our partners to build their solutions (for free) and this increases the probability to become a successful project in the future.
5. From @rhada25
On the Nerve Network website,you said that digital asset holders felt the Defi application service which is completely safe,free and transparent, how can the Nerve Network make it happen? And why did you choose the DeFi ecosystem as the cross-chain blockchain for the Nerve Network ?
Mr. Berzeck : We designed the system from scratch taking advantage of the microservices infrastructure we have designed, above this, we created a third layer of validing node called virtual banks.
These nodes are responsible to monitor income and outgoing transactions from and to other blockchains, thanks to this, the design is inherently more simple to other solutions.
Its important to highlight that nerve support cross chain transactions NOT in a smart contract level but at the BLCOKCHAIN level so its inherently more secure because there is no smart contract that can be abused or hacked.
Nerve works for several types of industries not only DeFi, but it has features that are very useful for DeFi systems and as many projects want to enter this industry then we are promting this way.
SEGMENT 3 FREE ASKING
1. After Q1 and completion of all points on the Roadmap. Do you have any further plans for developing $OM after that And if so, can you tell us all whatever you are planning to do? to find out.
Mr. Berzeck : After integrating a lot more assets we will build tools so develoeprs can decrease their devlopemnt times for DeFi applications, liquidity pools, market makers, etc.
And of course we will get closer to the communits of the assets we supprot.
2. What is your Approach to the Blockchain Trilemma? Or the Scalability + Security + Decentralized all at the same time?
Mr. Berzeck : WE sacrificed a llittle decentralization to increase scalability and security, after all th eonly thing that companies care about is decreasing cost and increasing income so total decentralization is not anything they will miss, but security and scalability are a must for any DeFi platform.
in specific , not every node is a consensus node, as we are derived from a DPoS kind of cinsesnsus mechanism.
3. How was the NerveNetwork project affected by the Covid 19 outbreak? Did it lead to a change in your roadmap?
Mr. Berzeck : Nerve and NULS were already world wide projects with memebers from USA, chian, sout h america, portugal, canada, etc. so we already implemented work from distance mechanism and processes.
Therefore COVID didnt affect us at all, we invested the time to build our unique portfolio of products.
4. Many Project talks only about their Strenghts, Can You talk about the weak point that You project is Currently Dealing With?
Mr. Berzeck : Our weakness was marketing and promotion, we are in a unique position on which we already have working unique products but people dont know about them
For this we hired and restructured the whole department from zero and its already getting some results. We expect a lot more surprises in the future.
5. Today in every sector our slogan is “PRIVACY IS OUR RIGHT”. How would your project offer a Blockchain Privacy Protection for users? And how important is the community to you?
Mr. Berzeck : Sadly hard anonymity is being actively targeted by governments as a way to support money laundering, terrorism and other stuff which is totally unfair,; but fair or unfair thats irrelevant, our goal is mass adoption and we are not going to get it if we are targeted by governments, so thats why we decided to not implement hard anonymity in Nerve (and NULS).
In real world you need to make compromises to have a succssfull product and fighting directly with governments and financial sector will not let us achieve our goals
DON’T FORGET FOLLOW NERVE NETWORK !!