$0.001509

Nervos Network (CKB) is an open-source public blockchain designed to support a peer-to-peer crypto-economy with secure blockchain services. Launched in November 2019, it features a dual-layer structure: a base layer for consensus and asset storage, and a computation layer for transaction processing. The base layer, called the Common Knowledge Base, uses Proof-of-Work and its native token, CKByte (CKB), to incentivize miners and manage network resources. Developers can build decentralized applications and smart contracts across the network's layers.

Nervos Network was initiated in 2018 by the Nervos Foundation, bringing together a team of researchers, engineers, and developers. The platform was created by three individuals: Terry Tai, who previously developed the Yunbi exchange and co-founded Teahour.fm; Daniel Lv, co-founder of ruby-china.org and former CTO for imToken and Yunbi; and Kevin Wang, an engineer who consulted for IBM Silicon Valley Lab and co-founded Launch School.

Nervos Network stands out due to its open-source, multi-asset blockchain with a layered architecture. Its dual-layer design separates the base layer, which uses PoW consensus and the CKByte token, from a computation layer for real-time transactions and development. This structure aims to combine PoW security with scalability and cross-layer data sharing. The economic model is scalable, allowing participants to contribute to growth while gaining access to a decentralized, censorship-resistant platform. Storage costs depend on space and duration.

CKByte (CKB) is the native token with a total supply of 43,510,781,425. Allocation includes 21.5% to public sale, 17% to ecosystem fund, 15% to team (vested over 4 years), 14% to private sale investors (unlocked over 2 years), 5% to founding partners (unlocked over 3 years), 2% to foundation, 0.5% to testnet incentives, and 25% of Genesis tokens burned. As of March 2023, circulation is 39,936,460,802. CKB serves as a utility token for layer-2 reserves, rewards, and fees, and grants holders storage space on layer 1 proportional to their holdings.

Nervos Network employs a PoW-based Nakamoto consensus to protect dApps and digital assets. CKB runs on a PoW blockchain with ASIC-backed mining for security and decentralization. The network is open-source and has undergone third-party auditing by CertiK. Additionally, the team organizes hackathons with cash prizes to encourage discovery of security vulnerabilities.

As of March 2023, CKB is available 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 others. Coinasity shows the live CKB price, averaged across major exchanges.