Nervos Network (CKB)
| by research goldshell November 29, 2022 | REPORT |
66 | Public Blockchain Ecosystem and Collection of Protocols.
The Nervos Network is an open-source public blockchain ecosystem and collection of protocols.
The Nervos CKB (Common Knowledge Base) is the layer 1, proof-of-work public blockchain protocol of the Nervos Network.
The CKByte token (CKB) is the network’s native token and has the following use cases:
State storage on the network: CKB represents cell capacity in bytes, and they give owners the ability to occupy a piece of the blockchain’s overall global state. For example, if a user owns 1,000 CKB, he/she can create a cell with 1,000 bytes in capacity, or multiple cells that add up to 1,000 bytes in capacity. He/she can then use the 1,000 bytes to store assets, application state, or other types of common knowledge.
Miner compensation: Miners are compensated with both block rewards and transaction fees in the form of CKB tokens.
Staking rewards: CKB holders can deposit and lock their native tokens into a special contract called the NervosDAO to earn staking rewards.
What is Nervos DAO?
The Nervos DAO lets you lock CKBytes, that are currently unused, in order to receive rewards from secondary issuance.
Think of it like this, if you are depositing in the Nervos DAO, your holdings will never be diluted by secondary issuance. Although it may seem slightly complicated at first, the Nervos DAO, alongside every aspect of $CKB, is developed in a totally permissionless, decentralized, and trustless way.
More information on CKB token economics can be found here.
As of Oct 31th 2022, the circulating supply of CKB is ~33.3 billion and the total supply of CKB is ∞.
Appendix