• Nervos is a layered blockchain network built from the ground up to ensure decentralization, security, as well as scalability through various Layer 2 solutions.

  • It prioritizes compatibility with diverse wallet solutions & interoperability with the ability to verify consensus of other blockchains.

  • The project consists of the following major components working in conjunction:

    • CKB-VM: A low-level virtual machine based on the RISC-V computer instruction set that supports all programming languages, environments, and cryptographic primitives.

    • NC-Max: A Proof-of-Work consensus mechanism that maximizes network throughput by leveraging dynamic block times and a propose/commit transaction process.

    • Cell Model: A novel UTXO-based accounting model that reduces smart contract attack surface and supports all scaling solutions, including Rollups, sidechains, and payment channels

  • Nervos’ native token is CKB. It has the following use cases:

    • On-chain storage: 1 CKB = 1 byte of on-chain storage ownership. Holders can update the on-chain space they occupy as often as they wish, as long as they hold the CKB.

    • Governance: CKB holders are granted governance rights and a portion of the secondary CKB issuance through the Nervos DAO.

    • Transaction & State Rent Fees: CKB is used for transaction fee payments and state rent income allocated to miners directly through block rewards.

  • CKB has primary and secondary issuance.

    • Primary is hard-capped and halves every 4 years.

    • Secondary is constant & uncapped (1.344b/year).

  • As of February 1st, 2023, the total circulating supply is ~39.5 billion CKB.

  • Learn more about the CKB issuance schedule here and its tokenomics here.