Ethereum Layer 2’s are growing like a weed. They are one of the few areas in this market seeing real growth. We know part of the reason is that the main Ethereum Layer 1 chain is unusable most of the time. Yet many L2’s are still fighting it out for leading spots for EVM supremacy. One of the newest and most interesting is Neva Network.
Let’s meet Neva Network and see what they are about.
Meet Neva Network
Neva Network says it’s a modular chain using the best technology available. And their proof of that is in their 2 big tech decisions.
First, they are using Celestia for their data availability layer. Celestia is one of the first, and the best of DA layers if you are building out a modular blockchain.
Second, they built their chain using Polygon’s zkEVM. This is a blend of 2 important technologies for blockchain. The use of zero-knowledge tech for privacy and compatibility with Ethereum’s Virtual Machine. EVM means the most access to the most dApps. And zk ensures your privacy when moving data around between the L2 and Ethereum’s Layer 1.
Both are vital. And as far as I know, we don’t know any Layer 2 using both of these together.
With super low gas fees often under 1 cent and more than 50,000 transactions per second throughput, many sectors benefit from a chain setup like this. Neva’s focus is on GameFi and DeFi.
The speed and the low cost are especially good for games, though. Games need to move fast AND have fast, cheap transactions. Plus, the transactions have to be seamless to not interrupt the gameplay.
As a community-based token and project, (more on that in a second), this tech stack allows nearly anyone anywhere to run a node. Modular blockchains are lighter and faster than monolithic ones like Ethereum or Solana. And this is even more true for those using Celestia for the data layer. This is an important part of the ethos of the project.
Unique Aspects of the $NEVA Token
The Neva Network token is mainly for governance and staking. That’s nothing new. However, here are a couple of cool things the team did with their $NEVA token that you rarely if ever see.
Neva Network is Self Funded
If you are a little sick of VC tokens and want to get into a real community project, then Neva Network is for you. The project is entirely self-funded. No outside money at all. Pretty cool.
No Presale
And because they had no VCs to answer to, they didn’t have to do any private sales or pre-sales for their most favored investors. Do you know who their most favored investors are? You are. Those who use Neva. The team and its community.
Fair Launch
Then if those 2 things weren’t good enough to make $NEVA different, they also did a fair launch in early June, only a few weeks ago. The tokenomics look pretty good too. You can see that 40% or 40 million out of 100 million were part of the initial DEX launch on Uniswap.
You can see how all these things contribute to the ethos I was talking about earlier. It’s hard to find a project that treats its community better and more fairly than Neva Network.
Conclusion
The Neva Network will be in testnet any day now although the mainnet launch is in the roadmap for later this year. Its goal is to use the best tech out there to be fast, scalable, inexpensive, and secure. The team believes by using Celestia and Polygon’s zkEVM that they have cracked the code. Neva is targeting the GameFi and DeFi sectors specifically with their modular blockchain.
The $NEVA token currently trades on Uniswap. At the time of writing, $NEVA trades at 1.8 cents in a trading pair with ETH. The current market cap is just over $1 million. To learn more about Neva, check out their website OR their Telegram group.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Neva Network.
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