NEST will transfer the game to the chain, and then provide incentives to users who provide high-quality data to achieve a better degree of decentralization, but more B-end users still need to be developed.
advantage: The design is more decentralized, and the quotations obtained through incentives are more authentic. Completely open source, relying on community autonomy. The Prophecy track has a bright future.
Disadvantages: There are few users on the B-end, and there is a lack of a team to lead the users. The oracle track has high requirements for business development capabilities.
Because half of the oracle model relies on economic incentives, NEST has also put a lot of effort into this aspect. The economic incentive is divided into two parts, one is the incentive for arbitrage miners, this part is based on the free market of the order book model. The other part is token incentives, which are incentives for contributing miners. The total amount of tokens is 10 billion, and all are released through quote mining. The distribution mechanism is 80% for miners, 5% for developers, and 15% for guardian nodes. The unit block rewards obtained at different Ethereum block heights are different, showing a decreasing trend overall. The income obtained by different miners in a single quote currency of a single block is directly proportional to the quoted commission fee paid, and inversely proportional to the total commission fee. In addition to rewarding tokens to miners, NEST tokens will divide the system’s revenue based on the income right model, which means that the miners who mortgage tokens can share the ETH revenue generated by the system every week. This revenue comes from four aspects, namely, the quote processing fee paid by the quoted miner for each quote. The more ETH quoted, the higher the processing fee required, and the more NEST tokens will be received; Handling fees paid; fees for oracles being invoked by smart contracts; fees for future value-added services.
. The project party completed open source for all contracts of version 2.0 in April 2020. The open source contract codes include NEST Token contract, mapping contract, mining pool contract, mining pool logic, quotation data contract, quotation factory, price contract, NEST lock verification Contract, system revenue pool contract, leveling contract, revenue distribution logic contract, guardian node NestNode Token contract, guardian node NestNode storage contract, guardian node receiving NEST data contract and guardian node distribution contract. The project is currently in the 2.0 stage and will go online in November 2019. In the next 3.0 stages, the project party will remove the highest authority and be completely decentralized. Because Github is only smart contract code and related introductions, mainly based on the logic design in the implementation mode, the technical difficulty is not high, and the project is in a relatively early stage, so only 8 stars and 2 forks have been obtained for the open source code.