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Nervos Network
About Nervos Network
Nervos Network is a public blockchain ecosystem with the Common Knowledge Base (CKB) as its foundational layer. The CKByte (CKB) token is used for state storage, resource management, and network incentives within the CKB blockchain. The Nervos Network was developed by a team of blockchain experts, including Jan Xie.
Nervos Network is an open-source public blockchain ecosystem and collection of protocols designed to solve the critical challenges facing blockchains like Bitcoin and Ethereum. At its core is the Common Knowledge Base (CKB), a layer 1 proof-of-work (PoW) blockchain that serves as the foundational layer of the Nervos Network. The CKB stores the state of the network and provides secure, decentralised consensus.
CKByte (CKB) is the native utility token of the Common Knowledge Base (CKB) within the Nervos Network. It has several key uses:
- State Storage: CKB tokens are required to store data and smart contracts on the CKB blockchain.
- Resource Management: Users need CKB to manage and access the resources on the network.
- Incentive Mechanism: CKB tokens are used to incentivize miners and participants who secure the network.
- Value Preservation: As the network grows and usage increases, the demand for storing state on the CKB blockchain increases, potentially preserving and increasing the value of the CKB token.