A public blockchain network, Nervos, has <a href="https://www.nervos.org/" target="_blank" rel="noopener">rewarded</a> the several teams with $1 million dollars for enhancing its infrastructure, on April 09, 2020. This could be considered as the first payout from the network’s development fund, which was announced earlier to be of $30 million.

The Nervos finished an Initial Coin Offering (ICO) in the year 2018, successfully, and raised around $100 million.
<h2>2-Layers Of Blockchain</h2>
The network has a two-layer of blockchains. The first layer which is th base layer is secured with a proof-of-work consensus mechanism and its second provides the scalability to the network.

The public blockchain network has awarded $1 million to seven teams which have promised to give their services to the network. This grant is a payout from the earlier announced development fund which is of $30 million.

The team which has recieved the award would further develop the network and would also enhance its usability and interoperability.

Kim Fournier, the head of global marketing at Nervos, while talking about the motive behind the initial set of grants, said, “Our priority is on building infrastructure for the developers because we are aware that our technology is complicated and it’s not easy for developers to build on. We want to foster and enable developments.” He further mentioned that the network has spilt the amount in a way that each team gets between 100 and 350k. The head of global marketing also stated that a team has received two grants because it has been handling two different projects of Nervos.
<h2>Summa To Develop Interoperability On Nervos Network</h2>
It has been reported that Nervos is excited about a particular project, as it would develop the interoperability of Nervos network with the Bitcoin network. This project is being developed by  Summa.

Fournier added that Nervos could not provide rewards to the full content, altogether. Therefore, it is paying from its development funds in an instalment, which would take a longer time.

The company has been planning to create a blockchain network which could be used by the people for hundreds of years.

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Nervos Network Grants $1 Million To Third-Party Developers

A public blockchain network, Nervos, has rewarded the several teams with $1 million dollars for enhancing its infrastructure, on April 09, 2020.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Nervos Network Grants $1 Million To Third-Party Developers

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