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CKB
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Nervos Network
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About Nervos Network

The price Nervos Network today is 0.010324 USD, and the trading volume in 24 hours - 8,127,416 USD. The crypto asset has grown by 2.91% over the day. Currently, the coin’s market capitalization is 281,205,807 USD, and has 27,238,067,327 coins in circulation with the max supply of 30,963,518 coins CKB.

What is Nervos Network (CKB)?

Nervos network is a unique multi-level blockchain architecture that allows developers and enterprises to launch products and services on the blockchain without sacrificing such criteria as security and decentralization in favor of speed and scalability. 

Level 1 Nervos (CKB) is a public blockchain that anchors the network and provides a secure basis for the preservation of crypto assets. With Tier 1 support, decentralized applications running on the second level will have unlimited scalability through various L2 solutions.

Miners and developers will be able to use CKB on the main “Lina” network and participate in the Nervos ecosystem. CKB is a service token of the Nervos network that can be used to manage resources and encourage miners. CKB also entitles the owner to allocate space for storing states in the Nervos blockchain.

Who created Nervos Network?

The Nervos network was founded by the creators of Spark Pool, the largest mining pool for ETH, ImToken, the world's largest Ethereum wallet and Cryptape, the most prominent blockchain development team in China.

During the six-month testing period, Nervos launched a number of initiatives to enhance its security and ensure a stable network when the main network is launched. Main network preparation included a series of mining competitions for network stress testing (with a hashrate of more than 20 TH/s), two independent security audits, and a reward program for errors in of $1 million.

What is the uniqueness of Nervos Network?

The project is aimed at solving the main serious problems that are currently hindering the development of such blockchains as Bitcoin and Ethereum. Blockchain, which first emerged as a system that manages Bitcoin, is a shared database supported by a network of computers.

Nervos said its blockchain allows developers and businesses to run products and services on it without sacrificing security and decentralization in favor of speed and scalability.

CKB aims to motivate users, developers, and node operators to work towards the goal of preserving common knowledge. The core of CKB's economic model is state, not computation, using cell capacity and transaction fees as incentives for stakeholders.

The proceeds from the token offering go to the design, research and development required to support, update and develop the Nervos project.

How many CKB tokens are in circulation?

As of January 2021, 23,747,441,135 CKB coins were in circulation, with no maximum offer yet.

How is Nervos network protected? 

Nervos Network is protected by Nakamoto's improved consensus based on Proof of Work. This allows nodes to freely join in and out of the network. Nodes can participate in the consensus process by mining new blocks or verifying their validity.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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