Nervos Network (CKB) is an innovative open-source public blockchain ecosystem designed to revolutionize the blockchain industry. By adopting a dual-layer architecture, Nervos aims to bridge the gap between various blockchain networks, enhancing interoperability and scalability. Launched in November 2019, its architecture features a base layer known as the Common Knowledge Base (CKB) and a secondary computational layer. The CKB token serves as the linchpin of this ecosystem, facilitating secure transactions, rewarding miners, and offering storage solutions. With its robust focus on security and cross-chain compatibility, Nervos Network is setting new standards for decentralized applications (dApps) and blockchain services. Stay tuned as we delve deeper into the unique features and advantages of Nervos Network.

Who Are the Founders of Nervos Network?

The Nervos Foundation initiated the project in 2018, assembling a team of researchers, engineers, and developers to form the core team. The platform was created by three key individuals:

• Terry Tai: Known for developing the Yunbi cryptocurrency exchange and co-founding Teahour.fm.
• Daniel Lv: Co-founder of ruby-china.org and former CTO for both imToken and Yunbi.
• Kevin Wang: An engineer who provided consulting services to IBM Silicon Valley Lab and co-founded Launch School.

These founders bring a wealth of experience and expertise to the Nervos Network, ensuring its robust development and growth.

What Makes Nervos Network (CKB) Unique?

The Nervos Network stands out due to its unconventional methodology and innovative design. The blockchain is open-source, supports multiple assets, and features a multi-layered architecture with various protocols.

Dual-Layer Architecture

Nervos employs a dual-layer architecture:

1. Layer 1 (Common Knowledge Base): This base layer achieves consensus using the Proof-of-Work (PoW) mechanism and has its own cryptocurrency called CKByte (CKB). This layer ensures the security and decentralization of the network.
2. Layer 2: The computational layer where transactions are processed in real-time and developers carry out programming tasks.

By combining the security of the PoW algorithm with scalability and data-sharing capabilities, Nervos Network aims to simplify the creation and use of decentralized applications (dApps).

Economic Model

Nervos Network's economic model is scalable, allowing participants to contribute to the project's growth by utilizing platform features. In return, they gain access to a decentralized, open, and censorship-resistant platform. Users can store their assets on the platform, with costs depending on the required storage space and duration.

Interoperability and Flexibility

Nervos Network allows developers to create dApps that can operate on various blockchain systems. Both decentralized apps and smart contracts can run on any of the network layers, providing unparalleled flexibility and interoperability.

Security Measures

The network is secured using a PoW-based Nakamoto consensus mechanism. The CKB token is deployed on a PoW blockchain, ensuring security and decentralization. Additionally, the network undergoes regular third-party audits and hosts hackathons with cash prizes to identify and address security flaws.

How Many Nervos Network (CKB) Coins Are There in Circulation?

CKByte (CKB) is the network's native token, with a total supply of 43,510,781,425 coins allocated as follows:

• 21.5% to public token sale investors
• 17% to the ecosystem fund
• 15% to the team (vested over 4 years)
• 14% to private sale in 2018 / certain institutional investors (unlocked over 2 years)
• 5% to the founding partners (unlocked over 3 years)
• 2% to the foundation
• 0.5% to the platform's testnet incentives
• 25% of the Genesis tokens were burned and never circulated

As of March 2023, there are 39,936,460,802 CKB tokens in circulation. CKB serves as a utility token, providing flexibility to the entire ecosystem. It acts as a reserve asset on layer 2, a means of payment for block rewards, staking rewards, and transaction fees. CKB holders also gain access to state storage space on the platform's mainnet, proportional to their holdings.

How Is the Nervos Network Secured?

Nervos Network uses a PoW-based Nakamoto consensus mechanism to secure dApps and digital assets. The CKB token is protected and mined with an ASIC-backed PoW function. The network is open-source and has been audited by CertiK, a third-party security firm. Regular hackathons with cash prizes are held to encourage the discovery and reporting of security flaws, ensuring the network's robustness.

Where Can You Buy Nervos Network (CKB)?

As of March 2023, CKB can be traded on several top exchanges, including:

• Binance
• KuCoin
• Bithumb
• Bittrex
• Gate.io
• Huobi
• Crypto.com Exchange
• Coinone
• BKEX
• MEXC
• CoinEx
• Indodax
• WazirX
• Tokocrypto
• Bitrue
• CoinDCX

You can also download the CMC mobile app to track the price of CKB in real-time and stay updated with the latest crypto news and educational articles on CMC Alexandria.

Tokenomics and Distribution Model

The Nervos Network's native token, CKByte, is used for three types of fees: Cycles (computation), Transaction Fees (security), and State Rent (storage). The tokenomics of Nervos Network incorporate two types of token emissions: primary issuance and secondary issuance.

Primary Issuance

The primary issuance follows a Bitcoin-like supply schedule, where the block reward is halved every four years until it reaches zero. All base issuance goes to miners, incentivizing them to secure the network for the long term.

Secondary Issuance

The secondary issuance is constant, without a supply cap. It diverts state rent (a cost to store data on-chain)