NEST Protocol Future Development Plan

According to the last release of the NEST future plan, it is currently between 3.6 and 4.0. We are re-releasing the overall NEST plan again because we have a new perspective on NEST, and because corrections regarding the dynamic parameters of NEST will be carried out in advance, therefore, we have made some adjustments to the long-term and the short-term plan, which are presented for community discussion:

I. NEST long-term planning

NEST 4.0: solving the problem of random mining

Interpretation: NEST mining is currently an auction model, the model itself is fair, but because of differences in miners’ techniques, rises the technical threshold for effective mining. In order to allow more miners to participate, it is proposed to increase the randomness, thereby reducing the barriers to competition and improving the diversity of the miners’ ecosystem.

Current progress: Random algorithm is under development.

NEST5.0: Solve the validation incentive issues.

Explanation: Validators with insufficient incentive or too concentrated, it will bring certain risks. So, it is necessary to increase the verification incentive and add more verifiers.

Current progress: Under community development

NEST 6.0: Solve the general oracle issues

Interpretation: provide a more generalized oracle model, through the non-cooperative game, any information flow instead of just crypto asset price information flow, such as the price of various traditional assets (stocks, gold, etc.), everyday information (flights, weather, soccer, etc.), business-sensitive public information (indices, epidemics, etc.), etc.

Current progress: NESTReserch is responsible.

II. NEST’s recent plans

1. Dynamic parameter adjustment will be carried out in advance

2. NEST will introduce cross-chain deployment, cross-chain NEST assets and 1:1 anchoring on ETH, cross-chain contains BSC\HECO\OKchain, etc., also includes some sidechains of layer2.

3. After completing the cross-chain deployment and ensured stable operation, a vote will be conducted to remove multi-signature permission of NEST on ETH.

Nest Protocol is a decentralized oracle built on Ethereum and powered by the NEST token. The protocol is a distributed price oracle network.🌍