1. What is Nervos CKB?

Nervos Network is a blockchain project based on the core technology of Bitcoin, aimed at supporting Bitcoin Layer 2 (L2) through its scalable Layer 1 blockchain. To improve Bitcoin's programming limitations, Nervos Network uses a customized Cell model for state storage and a customized virtual machine CKB-VM to execute transactions.

2. Function

Through the RGB++ protocol, Nervos Network has enhanced the usability of Bitcoin. This protocol is an asset issuance protocol based on the original RGB protocol, aimed at positioning CKB as the execution layer and data availability layer for Bitcoin. Since the launch of the RGB++ protocol on the CKB mainnet, trading activity on the CKB network has revived, with nearly 400,000 new addresses added in April, a 181% increase compared to March. Additionally, Nervos Network is working to integrate payment channel networks into the Lightning Network, which will make CKB more scalable and suitable for various blockchain applications.

3. Advantages of Nervos CKB

The technical features of Nervos Network include a layered architecture, with the Common Knowledge Base (CKB) serving as the underlying L1 blockchain, using a Proof of Work (PoW) consensus mechanism and employing the ASIC-neutral Eaglesong hash function to ensure network security. The Cell model is the core data structure of CKB, allowing for the on-chain storage and verification of any data, while CKB-VM, as the execution engine, uses the RISC-V instruction set and supports multiple programming languages, providing developers with a flexible execution environment. The RGB++ protocol achieves seamless integration with CKB's Turing-complete smart contracts through isomorphic binding technology, mapping Bitcoin UTXOs to CKB's Cells, enhancing security and data availability.


4. Token Economics of Nervos Network



When the mainnet launched in November 2019, the genesis block minted 33.6 billion CKB tokens, of which 8.4 billion CKB tokens (25% of the initial issuance) were immediately destroyed. Among the 8.4 billion CKB tokens destroyed, 5.04 billion tokens were used for on-chain storage ('occupying on-chain space'), while the remaining 3.36 billion tokens remained liquid ('liquidity'). The corresponding state allocation for these destroyed tokens aims to ensure that miners can initially receive at least 15% of the secondary issuance, while the treasury fund can receive at least 10%. It is noteworthy that all CKB tokens allocated to the treasury fund have been destroyed, and this setting can only be changed through a hard fork of the network.

I believe that with the development of the Bitcoin L2 market, Nervos Network provides native scaling for Bitcoin through the RGB++ protocol, integrating deeper smart contract capabilities directly related to the Bitcoin UTXO model, facilitating a more seamless and secure scaling of Bitcoin's usability.



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