Nervos - ICO Review

Nervos: Multi-layered Solution to Blockchain Issues


Nervos is a Panama-based blockchain project that aims to create an ecosystem on the bedrock of the Ethereum public blockchain that should include a host of open protocols as well as some technical solutions to the acute problems related to the Bitcoin and Ethereum networks.

The gist of the Nervos Network and CKBytes token


The primary task of the Nervos Network would be the resolution of scalability problem, inherent to both Bitcoin and Ethereum blockchains. For that purpose, Nervos plans to implement the so-called second-layer solutions, which provide for the use of plasma and side-chains, along with active utilization of state channels.

To achieve that, Nervos will introduce the Common Knowledge Base (CKB) protocol, which is going to exercise the function of a trust engine of the multi-layered system. The protocol will afford to store virtual assets and conducting arbitration for the upper ecosystem layers. The ERC-20 compliant CKBytes token, offered to the investors, will be utilized as a means of payment for the state storage in the CKB network. 


The Nervos team

  • Jan Xie. The founder and system architect. Xie holds a degree in computer science and engineering and has vast professional experience in this field. He started off as a full-stack developer at Yunbi and had a short stint with the Ethereum Foundation. He was also a founder of EthFans, a not-for-profit organization for the blockchain adoption in China.
  • Terry Tai. The co-founder and CEO. Tai is a fellow computer scientist who has been working with a number of Chinese IT companies, such as Baoquan and Cryptape, over the course of the last three years.    

ICO details


The sale of CKBytes tokens will commence on October 16 and take place on CoinList, a popular token offering platform, known for having already conducted such ICOs as Algorand and TrustToken. The token offering event will last for two weeks - the end date has been set on October 30 with the coin distribution due to take place over the course of the next ten days or not more than two days after the hardcap of $62,2 million is reached.

The CKBytes utility tokens will be sold at a price of $0.01 per unit, with no mention of a bonus or an airdrop program. Early investors will be given an opportunity to acquire 20% of the initial total supply of 33.6 billion tokens. The initial circulating supply, however, is planned at the level of 12,3 billion CKBytes.

The tokens are going to be issued in two stages, with the inflationary effects expected after the second issuance. The team suggests that the first buyers hold their CKBytes tokens for a prolonged period of time in order to reduce potential risks. The identity verification through KYC is mandatory for those who wish to participate in the ICO. Finally, the list of restricted areas, compiled by Nervos, is quite extensive and includes Belarus, Burma, Côte d'Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe) and Central African Republic, Crimea, Lebanon, Libya, Somalia, South Sudan, Venezuela and Yemen.  

Author: Alex Paulson for Crypto-Rating.com

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Nervos
StartOctober 15, 2019
EndOctober 30, 2019
Expired

The goals set up by Nervos are far too ambitious to be achieved in the near future. We have two blockchain organizations with far superior financial, and, probably, intellectual resources, that are ransacking their brains about the issues of scalability and so on. Nervos may contribute to the overall solution, but the project won't deliver it on their own.

1TrenT1   October 17, 2020  


The Nervos Network appears to be a useful tech solution, which might provide some means for resolving the biggest problem that blockchain has today, namely the scalability. Sure, Nervos as a team will have to go through a lot of trials and tribulations before the technology will work seamlessly, but they are definitely on the right path. I like the team roster, all guys appear to be very tech-savvy, experienced, and confident in what they want to achieve. However, this is a very competitive space, so there's no guarantee that Nervos will make it to the top.

LeoTheKing   October 20, 2019  


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