One week separates us from the Nervos Network’s launch of its first version, which it decided to call “Lina”, which is scheduled to release next week.

The company will launch “Blockchain Lena” after successfully raising $72 million through its initial coin offering (ICO).

The company announced on Wednesday that developers and miners will be able to participate and benefit from its network on November 16.

The project succeeded in raising these funds by “China Merchants Bank (CMBI), Polynchin Capital, Blockchain Capital, Hashkai, Multicoin, Design Global and other investors.

Nervos Network’s initial goal was to raise $50 million for the network.

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But she achieved much higher and more than her target by selling it to the ICO for three weeks.

Nervos declined to disclose how much each major investor has invested.

Kevin Wang, co-founder of Nervos Network, said:

The main user will be able to create applications on our blockchain without facing the trade-off between scalability and security options.

Made by “Wang” to source In the sense that a two-layer architecture on the Mainnet allows users to create decentralized applications on a secure public layer, but they are actually running applications on the second layer, promising “unlimited” scalability through this functionality.

The company’s new “CKByte” token offers its holders storage space on the blockchain, and this token also serves as a mechanism to incentivize miners and also serves as a resource management tool.

According to the token’s official public offering statement, the company will use 23.5% of the initial token offering to encourage open source contributions and commercial partnerships.

Wang said the mainnet can be used as a technical infrastructure for a variety of use cases including decentralized finance platforms.

Nervos developed applications for the Chinese banking giant CMBI even before the launch of the main network (Mainnnet).

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In his statement to the previous source, Wang added:

Certainly there are more opportunities to collaborate with other financial institutions to build decentralized finance applications after the launch.

The company has proven its presence in the Chinese developer community especially that some of the core team members are some of the first Ethereum developers in the country.

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Nervos previously received $28 million in investment round A last year.

The financial round was led by Polychain and the private equity giant Sequoia China.

The cryptocurrency sale (ICO) guaranteed 14% of the initial token distribution to investors in 2019, according to the source.

The company will use the proceeds to increase investment in research and development to improve the network, and incentivize more miners and developers to use the network, according to Wang.

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