Nervos Network (CKB)

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Revision as of 09:06, 23 January 2020 by w:c:dyor-crypto>Zeb.dyor

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Basics

"The Nervos Network describes itself as 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. It reportedly allows any crypto-asset to be stored with the security, immutability and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling. It aims to capture the total network value through its "store of value" crypto-economic design and native token, the CKByte."

Token

  • Nervos supports a native utility token, the CKByte. CKByte is used for resource management and miner incentivization and entitles the holder to an allocation of state storage space on the CKB blockchain.
  • From Messari (22-1-2020):

"A total of 33.6 billion CK Byte were issued at launch and allocated as follows:

  • 25% of the Genesis tokens burned (non-circulating) in the Genesis block and never enter the circulating supply.
  • 21.5% allocated to Public Sale investors
  • 14% allocated to Private Sale investors and vesting over two years, with two-third released upon mainnet
  • 15% allocated to the Team and vesting over four years, with one-third upon mainnet
  • 17% was allocated to an Ecosystem Fund
  • 5% was reserved for Strategic Founding Partners
  • 2% was reserved for the Foundation
  • 0.5% was allocated to Testnet Incentives

Founders & Project: 40.5%

Investors: 34%

AirDrops & Rewards: 25.5%"

  • Seed round of 7-2018 brought $28M an their ICO of 10-2019 raised 72M

Tech

"CKB's PoW algorithm, NC-Max, can adjust mining difficulty in response to network conditions, increasing throughput when the network of nodes is well-connected and slowing it when the block orphan rate passes a certain threshold.

Block time of 10 seconds"

DAO

"The Nervos DAO is an inflation shelter from secondary issuance used to manage state storage and provide sustainable incentives for miners. Store of Value users can lock their tokens in the Nervos DAO and receive a proportional share of this inflation. In this way your tokens are never diluted beyond a fixed cap."

Team, investors, partners

Team

Investors

Sequoia Capital, Huobi Capital, Kindred Ventures, Dragonfly Capital