In article number 1803232, Meifang Zhu, Arne Thomas, Yaozu Liao, and co‐workers create a series of N,O‐dual‐doped carbon encapsulated cobalt nanoparticles (CoNOCs) as novel and superior electrocatalysts for water splitting using a conjugated microporous polymer as a precursor. Such CoNOCs represent advances in the design of binder‐free membrane‐like electrodes, achieving even better hydrogen evolution performance. The work demonstrates that the rational design of scaled‐up non‐noble‐metal‐containing carbon electrocatalysts could offer a promising water‐splitting setup relevant for industrial applications.