Chinese Public Blockchain Nervos Possibly to Be the Next EOS
As the blockchain fever goes on, a Chinese project named Nervos, though started late (in Q1 2018) and still in its early stage, has stood out catching eyes within and outside the country for its strong development team.
Xie Hanjian, or Jan, CEO and Chief Architect of Nervos, was the only Chinese member of the Ethereum core development team, mainly focusing on Casper and Sharding. Jan was also a lead developer for China’s first open source crypto exchange Yunbi, and later founded one of the earliest blockchain enterprises in China – Cryptape which has received financing from China Merchants Bank (one of China’s largest bank). The project’s co-founder, Lv Guoning, who worked as core developer at Yunbi along with Jan, is the co-founder and CTO of imToken, the most popular Ethereum wallet in China.
Equipped with an experienced development team, the seeded player is also well funded. Top institutions such as Huobi (world’s third largest crypto exchange), FBG (renowned blockchain VC), imToken, MatrixPartners, Polychain, Wanxiang, Sequoia, etc.
According to its official website, Nervos is network of scalable and interoperable blockchains built on top of an open network, built for enterprises. It has its own public permissionless blockchain as the base layer protocol, called the Nervos Common Knowledge Base (CKB). Together with upper layer solutions such as the Nervos AppChain, the Nervos Network could provide high performance processing without compromising decentralization and security.
It is often said to be the next EOS for their similarity – both have talented dev leader and aim to provide a decentralized platform for applications. While they go in different directions as Nervos runs in a consensus-oriented paradigm. Consensus is stored on the chain, and calculation results are executed off the chain, which has fundamentally changed the scalability problem that has been entangling bitcoin.
With strengths in top development team, branded investors and providing a solution to scalability for dApps, most ICO rating and review platforms give it quite high scores, crediting it as a medium-high or high project. Nervos has recently been listed as the top 16 public blockchains.
However, lacking community supports (Twitter:1273, Telegram:13288, Reddit: 125 Subscribers) seems to be a drag on its rating. Regarding this, some firms pointed this issue to them, and the project responded in their most active telegram group that they are consulting with lawyers and want to come up with a plan that will be both compliant and incentive to the community. A project, especially a promising one, must be cautious and prudent considering the country’s current tough stance on ICOs and cryptocurrency.
The project is currently under well development as its marketing manager replies and recently released its development roadmap.
As for the “down-to-earth” and only question frequently asked by investors – its ICO plan, it seems its token sale may come in Q2 2019 according to the roadmap above. While its auto-response reads repeatedly,
“Nervos is yet to finalize its token event. Please check the announcement channel and official social media sites for updates.”
As industry insiders said that bull run probably starts when the market is filled with vigorous projects again like Ethereum emerged in 2014 and NEO in 2015. Could highly-anticipated Nervos live up to investors’ expectations? Time will tell.