Nick Grossman, co-founder of top capital USV, once lamented the hugeness of the WeChat ecosystem when he attended the conference in China last year. He found that many new apps are logged in using WeChat, which happens to be the vision of web3. As the leader in web2, such a vision cannot be realized in the present moment, and of course WeChat cannot be the entrance to all applications. The giants each establish their own barriers to make application interaction impossible to achieve.
But in a decentralized world, cross-chain development is inevitable. The vision of exploring the entire ecosystem with only one entrance is being realized step by step.
Nervos' forward-looking
The vigorous DeFi movement has come to an end for the time being. With several months of crazy wealth effects, DeFi has completed a large-scale user education in a very short period of time, and almost everyone knows about decentralized lending, transactions and other functions.
Of course, the performance and high gas fees of the Ethereum network are also constantly criticized in the development of DeFi. When the Ethereum network is congested, the cost of a quick transfer may be as high as dozens or even hundreds of dollars. The high cost of DeFi's use has discouraged a large number of users with less capital.
Some projects have begun to escape from Ethereum. Obviously, many developers have also discovered the shortcomings of Ethereum itself. Various Layer 2 technologies, cross-chain technologies and "Ethereum Killer Public Chain" came into being.
Ethereum's current mainstream expansion strategy is to use Layer 2, among which Rollup technology is the most representative, but Layer 2 on Ethereum is not yet perfect. Layer 2 itself has a threshold, and for users, they need to transfer assets to Layer 2; for developers, because most of them cannot follow solidity code, they must re-deploy in a new language.
Not only that, different Layer 2 technologies are not interoperable, for example, the applications between zk-Rollup and Optimistic Rollup cannot be interoperable, and are extremely limited. This also leads to the current situation that few people experience even though everyone knows that the performance on the Layer 2 is better.
There are many users who believe that after so many years, blockchain can still develop without cross-chain. However, the frequent maintenance of centralized trading platforms and the strong rise of inability to replace coins and DeFi all warn every user that times have changed. Even the anchor tokens of Bitcoin on the Ethereum chain have exceeded 140,000.
and Nervos has come up with a solution.
As early on design, Nervos foresaw the on-chain dilemma of Ethereum, so the Nervos network adopts a hierarchical architecture. Layer 1 Nervos CKB is based on PoW consensus and is responsible for the underlying security. Layer 2 focuses on public chains that improve the scalability and efficiency of the network.
After balancing efficiency scalability and security, Nervos began to propose a new strategic direction "Interoperability 2.0" to the blockchain ecosystem. Perhaps in four years, "Interoperability 2.0" will become a new concept pursued by the market, just like the concept of "Ethereum Killer" four years ago.
The popularity of applications such as WeChat, Alipay, Weibo and other applications helped the mobile Internet complete a user education, and the best user education does not require user education. For example, Nervos no longer needs to teach users to use Metamask. In Nervos, users can play any DApp in DeFi, NFT and other fields using any wallet such as MetaMask. Nervos will become the entrance to "Interoperability 2.0", just as WeChat is the entrance to various mini programs.
DeFi pain points solution
talks about the future being too far away. At present, Nervos has launched the test network. The open source DEX demonstration project "Gliaswap" based on the MIT License license terms can already allow us to experience almost no difference from Ethereum Layer 2.
Gliaswap is a cross-chain DEX built on Nervos Layer 2. At the same time, Polyjuice, the EVM compatibility layer on Nervos, is being integrated with the Rollup solution Godwoken, which means that the Ethereum compatibility layer with Rollup expansion will soon be implemented on Nervos Layer 2.
In other words, Gliaswap can allow users to experience the closest experience to Ethereum Layer 2 in advance almost without any threshold. Nervos is equivalent to a faster and cheaper Ethereum. Users can purchase CKB or Nervos on-chain assets directly using ETH or DAI through Nervos.In the future, you can even use DAI to directly purchase mirror assets on other chains on Nervos (such as CKB-EOS on Nervos chain), and you can even use your own Ethereum wallet to send EOS to friends who only have EOS wallets.
Many users know that cross-chain is important, but they don’t know why it is important. The main reason is that most users have not really enjoyed a useful truly decentralized cross-chain system. A truly available decentralized cross-chain system does not have downtime, inability to withdraw coins, or slow transactions, but is efficient and tokens can be circulated at will.
As a DEX built on the Nervos public chain, Nervos has launched a cross-chain solution "Force Bridge" that can interoperate with multiple public chains and alliance chains. Force Bridge uses SPV simple payment verification, and transactions between multiple chains can be completed efficiently.
For ordinary users, the biggest surprise given by Nervos is the "PW Core" launched by Gliaswap. PW Core successfully realizes the free flow of user assets on Nervos Network and other chains. Users do not need to create new wallets or remember new mnemonics, but use an Ethereum address. For old Ethereum users, there is no need to change their usage habits and not increase the cost of using learning.
Looking back, I realized the depth of Nervos' underlying technology layout. When
was founded, Nervos used a hard-coded cryptographic primitive design in addition to transaction sorting. The verification of asset ownership is achieved through lock script in the cell, and the verification rules and the cryptographic primitives used can be customized, so almost all cryptographic primitives can be used flexibly by developers.
At the same time, the underlying layer of Nervos has always insisted on using PoW, and time has proved that PoW is one of the consensuses with the highest cost of attack on the market.
, these early preparations provide strong support for the current construction of DeFi infrastructure on Nervos. In addition to its technical competitiveness, Gliaswap has also been upgraded compared to other DEXs in terms of user experience and design. Gliaswap has both AMM and Order Book modes, and users have one more option when trading. At the same time, in order to minimize impermanent losses, Gliaswap will launch a "price limit function" in the next version, which can set a price range. When the token price exceeds the range, liquidity can be automatically injected or withdrawn.
Of course, Gliaswap is just the first step Nervos has taken in the DeFi field, and its ultimate goal will be to create "Interoperability 2.0". Technology applied on Gliaswap Force Bridge and PW Core are both cornerstones of interoperability 2.0.
So, what kind of imagination space will be for interoperability 2.0?
Interoperability Imagination Space
Just imagine, when you trade, you don’t need to know who provided the technology behind it. You can complete the transfer and exchange of funds in a smooth and smooth manner. This is the future form of DeFi. Just like when you go online in 2020, you don’t need to understand the specific mechanisms of the TCP protocol and HTTP protocol.
At present, Nervos' "Interoperability 2.0" is approaching this goal.
The combination of hybridization and interoperability between various protocols on a chain is called "interoperability 1.0", which is a two-dimensional structure. When each chain is interconnected, any wallet can interact between any blockchain and assets can flow at will. This is "Interoperability 2.0". Compared with interoperability 1.0, this is more like a three-dimensional structure.
Nervos' "Interoperability 2.0" is trying to establish a system and include all blockchain languages and developers in this system. This is determined by the characteristics of the Nervos chain itself. The Nervos chain itself is familiar with the language of each chain (equivalent to the translation layer between each chain), and can easily cross-chain and compatible with different chains. The emergence of "Interoperability 2.0" will accelerate the development of blockchain, promote competition among public chains with the same attributes, and retain characteristic public chains. At the same time, it allows competitive DEX, oracle, Layer 2 and other technologies to be applied to the retained public chain.
Under "Interoperability 2.0", when users find that the loan interest rate on the Polkadot chain is relatively low and the lending interest rate on Ethereum is high, they only need to open the MetaMask wallet to complete a series of arbitrage operations such as Polkadot loan (with the support of Polkadot wallet) and lending on Ethereum. When you find that there is an interesting DApp game on the EOS chain, you can also use the MetaMask wallet to play a similar DApp on the Nervos chain.
And all of this can be done in the future through Nervos. The cleverness of
"Interoperability 2.0" lies in its long-term impact on the blockchain ecosystem and DeFi ecosystem. With the step-by-step implementation of "Interoperability 2.0", ordinary users will no longer need to understand the development of the technology level, but only need to enjoy the convenience brought by technology. Just as you no longer need to understand the protocol when surfing the Internet, you only need to enter the URL you want to browse. However, the premise of all this is that Nervos' concept can be realized, and Gliaswap is the first step in this conception. Once
"Interoperability 2.0" is implemented, it means that users only need one wallet and one account to open the entrance to all DeFi ecosystems. At that time, Nervos' status as DeFi will become the entrance to the DeFi ecosystem like WeChat and mini programs.
Nervos has developed many complex technologies, Force Bridge, PW Core, and Polyjuice, to implement "Interoperability 2.0", just to make users more concise when operating. This scene has also appeared on the Internet. Various protocols are constantly improved, open source, and iterated, and complex operations can be completed in just a few simple clicks. It is precisely because of the continuous development of underlying technologies that we can now enjoy a convenient life.
With the application of blockchain technology, in the near future, DeFi will be integrated into the lives of ordinary people. Whoever has a more concise operation plan will definitely win more users. It’s not too long to play with all blockchain ecological applications with just one wallet.
