Nervos Network (CKB) is a blockchain designed to counter the scalability and interoperability issue of blockchains. It has a unique two-layer architecture that separates data storage from smart contract execution. The platform is powered by its native token, CKB, which is used to pay network fees, staking, and resource allocation within the Nervos ecosystem.

The Nervos Network was co-founded by Terry Tai, Daniel Lv, Cipher Wang, and Kevin Wang in 2018. 

• CKB token: CKB, short for Common Knowledge Base token, represents both value and smart contract execution on the platform. It is used to pay miners for their contribution in maintaining the network transactions. CKB token holders can also claim space on the blockchain to store assets.

• Interoperability: CKB is compatible across multiple blockchain networks, and users can interoperate with other blockchains seamlessly, facilitating seamless cross-chain transactions.

• Layered architecture: Nervos Network separates Layer 1, otherwise known as data storage, from Layer 2 which is the smart contract execution layer. This improves scalability, security, and flexibility.

• Proof-of-Work (PoW) consensus algorithm: Nervous Network uses a proof-of-work (PoW) consensus algorithm. While PoW is considered less environment-friendly, it offers robust security and decentralization.

CKB is the native token of the Nervos Network which was launched in 2020. The token represents both value and smart contract execution on the Nervos Network and has several utilities such as facilitating transactions and allowing token holders to claim space on the blockchain to store assets. As of 6th November 2024, CKB ranks at #116 in the overall crypto market, with a market cap of $564.69 million. The token holds an all-time high of $0.044 attained on March 31, 2021. The token created quite a buzz in early 2024, surging over 170% in February 2024 after developers announced that the protocol can connect with the Bitcoin network. The token has managed to maintain a good upward momentum, clocking over 250% year-to-year gains, making it a promising crypto.

• CKB tokens can be bought and traded on crypto trading platforms.

• Nervos Network miners are paid in CKB for facilitating transactions.

• CKB is used to facilitate all transactions within the Nervos Network.

• CKB token holders can also claim space on the blockchain to store assets.

• Nervos Network separates Layer 1 from Layer 2, improving scalability, security, and flexibility.

• Nervos Network is compatible across multiple blockchain networks, facilitating seamless cross-chain transactions.

• Nervous Network’s proof-of-work (PoW) consensus algorithm enables the network to offer robust security and decentralization.

• CKB is subject to market volatility, like other cryptos.

• Nervos Network’s competitors include established networks such as Polkadot and Cosmos.

• The two-layer structure offered by Nervos Network might be too complex for some developers.

• Start investing in CKB with just ₹100.

• CKB price is updated in INR in real-time.

• You can trade in CKB and 300+ other cryptos in a secure environment on CoinSwitch.

The Nervos Network (CKB) Initial Coin Offering (ICO) took place in October 2019. During the ICO, 1 CKB was sold for 0.01 USD, raising about $72 million by selling 20% of the circulating supply out of the 33.6B CKB in Genesis Block. The network surpassed the initial goal of 67.2M USD, indicating crypto traders’ engagement with the CKB token adoption.