Image: Nervos co-founders Jan Xie, chief architect; Kevin Wang; Daniel Lv; and Terry Tai (behind the camera)
Chinese blockchain startup Nervos[1] has raised US$28 million in a Series A funding round from Polychain Capital, Sequoia China, and others, to develop a hybrid blockchain network for enterprises decentralized applications (dApps). The new capital will be used to grow its product and engineering teams, accelerate development of its enterprise blockchain solutions, and ramp up strategic partnerships, the startup said on Wednesday.
Nervos Network
Nervos is developing a solution[2] that combines the advantages of a public blockchain and an application chain to allow enterprises to build and deploy dApps without committing their entire tech stack to the blockchain.
More specifically, Nervos will be a network of interoperable protocols built on top of an open network called the Nervos Common Knowledge Base (CKB) designed for enterprise applications.
The Nervos Common Knowledge Base (CKB) (layer 1), the core component of the Nervos Network, will serve as a general purpose common knowledge base, providing data, asset, and identity services. Nervos CKB will be built as a security anchor for all blockchains (all layer 2 protocols) in the Nervos network. This layered architectural design will enable enterprises and application developers to decide what goes into the blockchain.
Jan Xie, co-founder and chief architect of Nervos, and a former research and developer at the Ethereum Foundation on Caster and sharding, said that while the blockchain industry has evolved substantially in the past couple of years, available solutions and infrastructures are inadequate for enterprise use as they are unable to meet both the security and performance requirements of enterprises.
“While there are undeniable benefits for enterprises that utilize blockchain technology to innovate and improve existing systems, enterprise adoption has been held back by
