Nervos Network (CKB) is an open-source blockchain platform designed to foster a peer-to-peer (P2P) crypto-economy. Its mission is to provide users with a variety of secure blockchain services and functionalities.
The Nervos mainnet was introduced in November 2019, featuring a groundbreaking dual-layer structure. At the core, there's a base layer that handles consensus and stores smart assets, while a second layer is dedicated to transaction processing.
The base layer, known as the Common Knowledge Base, utilizes its own cryptocurrency, CKByte (CKB), and employs the Proof-of-Work (PoW) consensus model. This layer is vital to the Nervos ecosystem, compensating miners for network security, managing resources, and enabling users to store data.
Nervos Network empowers developers to build decentralized applications (dApps) that are compatible with multiple blockchain ecosystems. Both dApps and smart contracts can be executed on any of the network's layers.
Who Are the Founders of Nervos Network?
The Nervos Foundation launched the project in 2018, bringing together a talented team of researchers, engineers, and developers.
The platform's creation is credited to three individuals: Terry Tai, who was instrumental in developing the Yunbi cryptocurrency exchange and co-founded Teahour.fm; Daniel Lv, a co-founder of ruby-china.org, who also served as the chief technology officer (CTO) for imToken and Yunbi; and Kevin Wang, an engineer and former consultant for IBM Silicon Valley Lab, who also co-founded Launch School.
What Makes Nervos Network (CKB) Unique?
The Nervos Network stands out due to its innovative approach, featuring an open-source blockchain that supports multiple assets and boasts a multi-layered architecture with numerous protocols.
At the heart of Nervos is its dual-layer architecture. The layer-1 base layer, or Common Knowledge Base, ensures consensus through PoW and operates with CKByte, the network's native cryptocurrency. The second layer handles real-time transaction processing and provides a platform for developers to execute programming tasks.
Nervos Network aims to streamline the creation and use of decentralized applications (dApps) by marrying the security of the PoW algorithm with scalability and cross-layer data sharing capabilities.
The platform's economic model is designed to be scalable, encouraging participants to contribute to its growth by leveraging platform features. In return, users gain access to a decentralized, censorship-resistant environment where they can store assets based on required space and duration.
Related Pages:
Explore more about Quant (QNT), Cosmos (ATOM), and Polkadot (DOT).
Understand the distinctions between Proof-of-Work and Proof-of-Stake in blockchain technology.
Curious about layer-1 blockchains? Discover more in our crypto glossary.
Find out what dApps are with resources from CMC Alexandria.
How Many Nervos Network (CKB) Coins Are There in Circulation?
The native token of the network, CKByte (Common Knowledge Base) or CKB, has a total supply of 43,510,781,425 tokens, distributed as follows:
- 21.5% allocated to the public token sale (for public sale investors);
- 17% designated for the ecosystem fund;
- 15% reserved for the team (vested over a four-year period);
- 14% provided to private sale investors in 2018 / designated institutional investors (unlocked over two years);
- 5% set aside for the founding partners (unlocked over three years);
- 2% allocated to the foundation;
- 0.5% dedicated to testnet incentives;
- 25% of the Genesis tokens were burned and never released into circulation.
As of March 2023, there are 39,936,460,802 CKB tokens in circulation.
CKB serves as a utility token, offering flexibility within the ecosystem. It acts as a reserve asset on layer 2 and facilitates payment for block rewards, staking rewards, and transaction fees.
Token holders gain access to state storage space on the platform's mainnet, with the ability to store 1 byte of data on the layer 1 blockchain. The storage space correlates with users' asset holdings.
How Is the Nervos Network Secured?
The security of the Nervos Network is anchored in a PoW-based Nakamoto consensus mechanism, protecting dApps and digital assets. CKB tokens operate on this PoW blockchain, emphasizing security and decentralization, with ASIC-backed PoW functions providing additional protection.
The network is open-source and has undergone a third-party audit by CertiK. The team also hosts regular hackathons offering cash prizes to incentivize the discovery of security vulnerabilities within the network.
Where Can You Buy Nervos Network (CKB)?
As of March 2023, CKB is available for trading on major exchanges such as Binance, KuCoin, Bithumb, Bittrex, Gate.io, Huobi, Crypto.com Exchange, Coinone, BKEX, MEXC, CoinEx, Indodax, WazirX, Tokocrypto, Bitrue, CoinDCX, and more.
Stay updated on CKB prices in real-time by downloading the CMC mobile app.
For the latest crypto news and educational content, visit CMC Alexandria.
