NEST network has created a very innovative scheme to generate the price on the chain. This scheme uses the bilateral quotation system to generate the price on the chain according to the dual price of miners, and mortgage the property of both sides to ensure the accuracy of the price, which can be said to be a completely decentralized generation mechanism of the price on the chain. In addition, all risks related to NEST oracle prices can be predicted, and they are calculated through a quantitative model. So, what exactly is NEST coin? What are its future prospects? Next, let's have a look.

What is NEST currency?

NEST Protocol is a decentralized price oracle network developed based on Ethereum network. NEST defines and implements a new scheme for generating on chain prices on the blockchain. It selects the market game theory to synchronously generate the market price under the chain in the form of miners' dual prices on the chain, and combines the NEST price mining system to encourage miners, so as to turn it into a logical closed-loop distributed quotation system, perfectly generate the price under the chain synchronously on the chain, and generate the NEST price prediction machine. NEST currency is not only the price voucher of ETH/USDT price oracle, but also the equity currency of the entire NEST Protocol network, with the right of return and the right of governance.

Most DeFi agreements require price data, especially for stable currencies and contract properties. At present, the price oracle commonly used in DeFi is generally used by the "reliable" node to take the price of the centralized exchange and upload it to the chain in the form of data for DeFi to enable. The risk here is that the price verification is completely based on nodes outside the protocol. The node being attacked or maliciously submitting wrong data will have a significant impact on more and more composite DeFi products. Therefore, a kind of oracle network with accurate price, dexterity, anti attack, direct verification and distribution is necessary.

NEST oracle machine handles the problem of price chain according to decentralized incentive scheme, namely price oracle machine. The market game theory is selected to synchronously generate the market price facts off the chain on the chain according to the form of miners' prices. In combination with the NEST price mining system, the miners are encouraged to become a logical closed-loop distributed quotation system, reasonably generate the price facts off the chain on the chain at the same time, and generate the NEST price prediction machine. NEST includes modules such as mortgage property price, arbitrage verification, price chain and its beta coefficient, forming a complete NEST Protocol.

What is the future prospect of the NEST coin?

NEST oracle system is based on game theory. If there are special game theory players to add this field, it is great. The way for NEST ecology to improve its competitiveness is to do a good job in the mechanism design of the NEST oracle system, be more open, and let more people participate in the game. The main rivers around the city in NEST are NEST Consensus and NEST Community.

NEST's vision is to build a distributed game network. The result of the game is to generate a deterministic equilibrium price on the chain, so that developers who must balance the price can start it.

NEST is not a commodity protocol, nor a oracle for the sake of a oracle. It is an open public network and a decentralized system full of games.

Xiao Bian mentioned the case of ERC20token discovery in Ethereum earlier. NEST is similar. It generates a balanced price on the chain. Any developer who has to balance the price does not need to build a network that can generate a balanced price on his own. Instead, he can directly choose NEST.

This is the prospect and value of NEST. Now is very small, the future is very big! The development of distributed architecture should not be too slow, because it should be very slow. Human beings have been developing for thousands of years before they realized the value of the "market mechanism". The so-called "market is an invisible hand".

NEST oracle has a long way to go before it can generate stable equilibrium prices.

Speaking of this, I believe you have a certain understanding of what the NEST coin is and its future prospects. In general, the editor here also reminds investors that the performance of the NEST currency in the secondary market is relatively stable, and members of the NEST community are optimistic about the development of the NEST currency. In fact, the key of the NEST project lies in its innovation and uniqueness. However, the future development of the NEST coin is still very promising. It is a long way to go. I think the future of the NEST coin is still a long way to go.