| NAME | CHAIN | PROTOCOL | APY | TVL |
|---|---|---|---|---|
| CKBTC-ICP | ICP | icpswap | 0.41% | $199,374.00 |
| CKETH-CKBTC | ICP | icpswap | 0.11% | $53,071.00 |
| CKUSDC-CKBTC | ICP | icpswap | 0.07% | $13,349.00 |
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Nervos Network (CKB) is an open-source public blockchain ecosystem. Its goal is to create a peer-to-peer (P2P) crypto-economy network where users can access a wide range of provably secure blockchain services and capabilities. The Nervos mainnet launched in November 2019 with a novel dual-layer architecture. There’s a base layer where the consensus mechanism operates and smart assets are stored, and a computation layer where transactions are processed. The base layer, also known as the Common Knowledge Base, has its own cryptocurrency called CKByte (CKB). It uses the Proof-of-Work (PoW) consensus mechanism and drives the Nervos ecosystem. It is used to pay miners for keeping the network safe, managing network resources, and letting users store things on the network. The Nervos Network allows developers to create decentralized applications (dApps) that can operate on various blockchain systems. Any of the network layers can be used to run both decentralized apps and smart contracts.
The Nervos Foundation initiated the project in 2018, as researchers, engineers, and developers assembled to make up the core team. Three people created the platform itself: Terry Tai, who developed the Yunbi cryptocurrency exchange and co-founded Teahour.fm; Daniel Lv, who co-founded ruby-china.org and served as the platform's chief technology officer (CTO) for both imToken and Yunbi; and Kevin Wang, an engineer who provided consulting services to IBM Silicon Valley Lab and co-founded the Launch School.
The development team's unconventional methodology is evident in the Nervos Network's design: the blockchain is open-source, the technology supports multiple assets, and the architecture is made up of several layers and a number of protocols. Nervos’ dual-layer architecture involves two layers. (1) The layer-1 base layer, also called the Common Knowledge Base, is where the network achieves consensus using PoW. This layer has its own cryptocurrency called CKByte, or CKB, which fuels the Nervos ecosystem. Layer 2 is the computational layer, where transactions are processed in real time and where developers carry out programming tasks. Nervos Network wants to make it easier to make and use decentralized apps (dApps) by combining the security of the Proof of Work (PoW) algorithm with scalability and the ability to share data between layers. Nervos Network's economic model is scalable, which means that participants can help the project grow by using platform features. In exchange, they get access to a decentralized, open, and censorship-resistant platform. Users can use the platform to store their assets; the price depends on how much space they need and how long they need it for. Related Pages: Read about Quant (QNT), Cosmos (ATOM) and Polkadot (DOT). Read about the difference between Proof-of-Work and Proof-of-Stake in blockchain. What is a layer-1 blockchain? Find out with our crypto glossary. What are dApps? Learn more with CMC Alexandria.
CKByte (Common Knowledge Base) or CKB is the network's native token. It has a total supply of 43,510,781,425 coins, which are allocated as follows: 21.5% to public token sale (to public sale investors); 17% to the ecosystem fund; 15% to the team (vested over 4 years); 14% to private sale in 2018 / to 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 is a utility token that provides flexibility to the entire ecosystem. It’s a reserve asset on layer 2, as well as a means of payment for block rewards, staking rewards, and transaction fees. CKB holders have access to state storage space on the platform's mainnet, getting the right to store 1 byte of data on the layer 1 blockchain (storage space is proportional to users' assets / their holdings);
Nervos Network uses a PoW-based Nakamoto consensus mechanism to secure dApps and digital assets. The CKB token is deployed on a PoW blockchain for security and decentralization, so it's protected and mined with an ASIC-backed PoW function. The network is open-source and has been audited by a third-party: CertiK. Also, the team regularly holds hackathons with cash prizes where people can win money for finding security flaws in the network.
As of March 2023, the top exchanges for CKB trading are Binance, KuCoin, Bithumb, Bittrex, Gate.io, Huobi, Crypto.com Exchange, Coinone, BKEX, MEXC, CoinEx, Indodax, WazirX, Tokocrypto, Bitrue, CoinDCX and others. Download the CMC mobile app to track the price of CKB in real-time. Read up-to-date crypto news and educational articles on CMC Alexandria.
Blockchain is a decentralized and distributed ledger technology that securely records transactions across multiple computers in a verifiable and permanent way. It forms the underlying technology for cryptocurrencies like Bitcoin and enables transparency, security, and immutability.
Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology, and facilitates secure and transparent peer-to-peer transactions.
Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group known as Satoshi Nakamoto. It operates on a decentralized peer-to-peer network and is used for secure, transparent, and censorship-resistant transactions.
Bitcoin is the original and most widely recognized cryptocurrency, while altcoins refer to any other cryptocurrencies besides Bitcoin. Examples of altcoins include Ethereum, Ripple (XRP), Litecoin (LTC), and many others.
Staking involves participants locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network. It is commonly associated with proof-of-stake (PoS) and delegated proof-of-stake (DPoS) consensus mechanisms, where participants receive rewards for helping secure the network.
To stake cryptocurrency, you typically need to choose a platform or network that supports staking. Transfer your tokens to a compatible wallet, follow the staking instructions provided by the platform, and lock up the desired amount of cryptocurrency. Once staked, you may start earning rewards.
Staking rewards are incentives provided to participants who lock up their cryptocurrency to support the network. The amount of rewards varies and is influenced by factors such as the network's inflation rate, the total amount staked, and the specific rules of the staking protocol.
The ability to unstake and withdraw your cryptocurrency depends on the specific staking protocol and network. Some platforms may have lock-up periods or unbonding periods during which your staked tokens are inaccessible. Always check the terms and conditions of the staking service.
Staking comes with risks, including the potential loss of staked funds if a participant behaves maliciously or fails to fulfill their responsibilities. Market volatility can also impact the value of staked tokens. It's crucial to thoroughly research the staking protocol and understand the associated risks.
While staking is designed to be a rewarding activity, there is a risk of losing money, especially if the value of the staked cryptocurrency decreases or if the staking protocol encounters security issues. It's important to consider both the potential rewards and risks before participating in staking.
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