DOS Network, a scalable layer 2 decentralized oracle service provider that provides real-world data to mainstream blockchain networks, has entered a strategic partnership with Nerve Network, which is a cross-chain interaction protocol developed by the NULS ChainBox. NULS aims at bridging the lacunae that exist in the DeFi world of Ethereum, thereby capitalizing it to fuel public interest.
Having finished phase 1 of the Nerve Network, NULS will soon be moving towards developing the next phase (phase 2) that will primarily focus on the staking capabilities of Ethereum powered projects. Various emerging dApps like Maker, Aave, Compound, etc. will be benefitted from the Nerve Network.
The integration of DOS Network with the Nerve Network aims at building a truly transparent, open, and secure DeFi ecosystem that has already begun. DOS Network links multiple blockchain smart contracts with off-chain data and events that are created outside the native blockchain network.
For this, it requires cross-chain protocols that will act as a bridge to connect multiple blockchain networks, thereby ensuring the free flow of the assets and values among them; Nerve Network will act as that cross-chain protocol. It will eliminate the bottlenecks that hinder DOS from accessing real-world data, which is also a crucial challenge for DeFi, which will now be solved by Nerve Network through this strategic partnership signed between them.
Nerve Network has the robust potential to integrate all available public chains, thereby making DeFi more approachable for everyone. On the other hand, Nerve Network also reaps immense benefits from the oracle services provided by the DOS Network. Blockchain-based smart contracts cannot access external data directly, and for this, they require robust Oracle solutions.
Moreover, computations within the smart contracts also become unaffordable with limited resource capacities; all these problems have one solution, and that is an oracle solution that can be provided by the DOS network. DOS is the decentralized oracle service provider that can support multiple heterogenous blockchains simultaneously. It integrates computation powers to smart contracts in a secure, reliable, and scalable manner.
Therefore, it is a mutual agreement whereby both the platforms will derive immense benefits from each other and will together build a strong and transparent DeFi platform for the users. Nerve Network is always exposed to high market risks that can only be mitigated by a reliable oracle price data; DOS Network is that ideal oracle service network that allows smart contracts to securely access off-chain data at an attractive price.
Moreover, the DOS Network empowers the Nerve Network to perform the most challenging tasks like ratio calculations, assets settling, etc. effortlessly.