As you know we have set ourselves to create a whole ecosystem of platforms to facilitate the usage of blockchain and distributed consensus mechanisms by the average person. On that mission we have already deployed three major platforms, that are setting out the base and serving as the founding blocks of a much broader ecosystem that we want to build. We have chosen Fantom Opera to be our main house, while also expanding compatibility with several other networks, such as Ethereum, Binance Smart Chain, and Bitcoin. And as we love being in Fantom, and will still remain there - worry not! -, we feel that in order to keep innovating, creating, and building the ecosystem we want to build, we will need a bespoke blockchain network that will be able to attend all the very specific requirements that some of the applications we are building will, indeed, require.
We are NOT leaving Fantom!
The very first thing to clarify, is that we will not be leaving Fantom, and Fantom will still be our main house for the time-being. The move to create and deploy a bespoke blockchain comes more from need than will, and the new network environment is being deployed to unlock some of the limitations we currently have on Fantom Opera, including accessing liquidity on the native coin and being able to tweak the network very core settings, such as consensus mechanism, and block sealing times. With that said, right now all our platforms support Fantom, and that will not change! If anything, we will work towards expanding compatibility, but will still remain focused on working on, and promoting Fantom.
A Novel Consensus Structure
More information will still be released on the specifics, but we are creating a novel consensus structure - note, not consensus mechanism - that involves a hybrid state, which sits between PoW and PoS, and enables high throughput, low gas fees, staking, and a high level of security. The blockchain will leverage on EVM for smart contract functionalities, and will be seamlessly compatible with any other existing protocols written in Solidity.
A Fertile Ground for Creators
As creators ourselves, we know how exciting the idea of participating on the very conception of a brand new ecosystem can be, and as with any other blockchains, anyone will be able to use it to deploy and create their own platforms. We will have incentives put in place in order to support developers and platforms wanting to deploy on the new blockchain, and if you are keen and willing to participate and contribute, please reach out to us directly, preferably via our Discord Server.
Names, tokens, etc...
The network is called Nova Network - as one would expect! And it uses its own native coin, called Nebula X (NBX). Both Nova Token (NBK) and Supernova Token (SNT) will be compatible and tradeable, in wrapped versions, in the new blockchain. We will also work on extended compatibility with all of our platforms, which should greatly benefit from the new network.
Where are we now? What's next?
As of now we are well advanced with the testing of our mainnet, and have done almost all of the required programing. We will make sure to keep on running these tests in the weeks - maybe months - to come, to make sure we have a stable network once users start using it. We are currently working on putting together all the documentation that developers and users will use to better understand the technology behind the product, as well as to create and develop their own platforms to be deployed there. The economics are also being worked on, and because we will use an entirely new consensus structure, we still have a few challenges to solve to make it attractive and sustainable to our users and validators. It is likely we will have it in beta on the launch, and we will gauge the network's reliability, usability, and consistency, in order to determine when will be the right time to go out of beta and launch the final version of the blockchain network.
We welcome community engagement, and are ready to work with other developers to make the new network great and inviting for the community. If you are not a developer but still want to get involved, we also welcome the involvement of marketing professionals, community leaders, creators, and platform managers. Just reach out, our team is accessible and will be ready to talk to you about how you see yourself contributing to the future of Nova Network.
There will be a closed launch prior to the public launch, and we will do this to make sure everything works properly and reliably before we open up to the public. Invitees to the closed launch will be mostly developers, and we may also work on some sort of 'pass' for our community users, most likely based on NBK and/or SNT holdings.
As we do with all of our platforms, we will have a full set of documents available for users to explore, even before we go live with the chain, and we will also release more information on the state of development as we go. If you have any questions, reach out to us via our Discord Server, or send an email to [email protected] with the subject 'Nova Network Blockchain'.