Nervos Network is a public blockchain and collection of protocols that aim to solve the scaling limitations facing traditional networks like Bitcoin and Ethereum. Nervos’ blockchain is a layer-1 protocol that uses Proof-of-Work (PoW) consensus and supports smart contract development. It also consists of a series of layer-2 scaling solutions to facilitate high-volume use cases. Nervos’ native token (CKByte or CKB) allows users and developers to claim storage space on the Nervos blockchain in proportion to their holdings.
Nervos founder
The Nervos project first launched in 2018 in search of a solution for the scalability issues that plagued layer-1 networks, specifically smart contract platforms, at the time. Nervos sought to build a blockchain that could satisfy the performance needs of enterprise uses cases.
Nervos’ mainnet launched in Nov. 2019. It is a public blockchain that uses a different architectural design by separating its infrastructure into two layers: a single base layer (Layer-1) and a high-performance application layer (Layer-2). Nervos developers are building a collection of protocols to provide the scalability and environment necessary to support applications.
The Nervos CKB (Common Knowledge Base) is the base layer. It is a general-purpose, Proof-of-Work (PoW) blockchain that serves as the consensus engine for Nervos-based applications and application layers. This base layer also features a native utility token, the CKByte (CKB). CKByte is used for resource management and miner incentivization and entitles the holder to an allocation of state storage space on the CKB blockchain. Participants can also lock tokens in the Nervos DAO, which enables deposits to receive compensation or “yield” on their holdings.
More Information available in: https://www.holdminer.com/
