Nervos Network (CKB) is an open-source public blockchain ecosystem. Its goal is to create a peer-to-peer (P2P) crypto-economy network where users can access a wide range of provably secure blockchain services and capabilities.
The Nervos mainnet launched in November 2019 with a novel dual-layer architecture. There’s a base layer where the consensus mechanism operates and smart assets are stored, and a computation layer where transactions are processed.
The base layer, also known as the Common Knowledge Base, has its own cryptocurrency called CKByte (CKB). It uses the Proof-of-Work (PoW) consensus mechanism and drives the Nervos ecosystem. It is used to pay miners for keeping the network safe, managing network resources, and letting users store things on the network.
The Nervos Network allows developers to create decentralized applications (dApps) that can operate on various blockchain systems. Any of the network layers can be used to run both decentralized apps and smart contracts.
## Who Are the Founders of Nervos Network?
The Nervos Foundation initiated the project in 2018, as researchers, engineers, and developers assembled to make up the core team.
Three people created the platform itself: Terry Tai, who developed the Yunbi cryptocurrency exchange and co-founded Teahour.fm; Daniel Lv, who co-founded ruby-china.org and served as the platform's chief technology officer (CTO) for both imToken and Yunbi; and Kevin Wang, an engineer who provided consulting services to IBM Silicon Valley Lab and co-founded the Launch School.
## What Makes Nervos Network (CKB) Unique?
The development team's unconventional methodology is evident in the Nervos Network's design: the blockchain is open-source, the technology supports multiple assets, and the architecture is made up of several layers and a number of protocols.
Nervos’ dual-layer architecture involves two layers. (1) The layer-1 base layer, also called the Common Knowledge Base, is where the network achieves consensus using PoW. This layer has its own cryptocurrency called CKByte, or CKB, which fuels the Nervos ecosystem. Layer 2 is the computational layer, where transactions are processed in real time and where developers carry out programming tasks.
Nervos Network wants to make it easier to make and use decentralized apps (dApps) by combining the security of the Proof of Work (PoW) algorithm with scalability and the ability to share data between layers.
Nervos Network's economic model is scalable, which means that participants can help the project grow by using platform features. In exchange, they get access to a decentralized, open, and censorship-resistant platform. Users can use the platform to store their assets; the price depends on how much space they need and how long they need it for.
Related Pages:
Read about Quant (QNT), Cosmos (ATOM) and Polkadot (DOT).
Read about the difference between Proof-of-Work and Proof-of-Stake in blockchain.
What is a layer-1 blockchain? Find out with our crypto glossary.
What are dApps? Learn more with CMC Alexandria.
## How Many Nervos Network (CKB) Coins Are There in Circulation?
CKByte (Common Knowledge Base) or CKB is the network's native token. It has a total supply of 43,510,781,425 coins, which are allocated as follows:
21.5% to public token sale (to public sale investors);
17% to the ecosystem fund;
15% to the team (vested over 4 years);
14% to private sale in 2018 / to certain institutional investors (unlocked over 2 years);
5% to the founding partners (unlocked over 3 years);
2% to the foundation;
0.5% to the platform's testnet incentives;
25% of the Genesis tokens were burned (and never circulated).
As of March 2023, there are 39,936,460,802 CKB tokens in circulation.
CKB is a utility token that provides flexibility to the entire ecosystem. It’s a reserve asset on layer 2, as well as a means of payment for block rewards, staking rewards, and transaction fees.
CKB holders have access to state storage space on the platform's mainnet, getting the right to store 1 byte of data on the layer 1 blockchain (storage space is proportional to users' assets / their holdings);
## How Is the Nervos Network Secured?
Nervos Network uses a PoW-based Nakamoto consensus mechanism to secure dApps and digital assets. The CKB token is deployed on a PoW blockchain for security and decentralization, so it's protected and mined with an ASIC-backed PoW function.
The network is open-source and has been audited by a third-party: CertiK. Also, the team regularly holds hackathons with cash prizes where people can win money for finding security flaws in the network.
## Where Can You Buy Nervos Network (CKB)?
As of March 2023, the top exchanges for CKB trading are Binance, KuCoin, Bithumb, Bittrex, Gate.io, Huobi, Crypto.com Exchange, Coinone, BKEX, MEXC, CoinEx, Indodax, WazirX, Tokocrypto, Bitrue, CoinDCX and others.
Download the CMC mobile app to track the price of CKB in real-time.
Read up-to-date crypto news and educational articles on CMC Alexandria.
Nervos is a layered crypto-economic network that divides its infrastructure into the verification layer and the generation layer. The verification layer acts as the trust root and smart custodian, while the generation layer is used for high-performance transactions and privacy protection. At the core of Nervos is its public permissionless blockchain called the Nervos Common Knowledge Base (CKB), which generates trust and extends it to the upper layers, constructing a trust network. CKB also serves as the value store of the Nervos network, providing secure, public, and censorship-resistant asset and identity custody services. Additionally, the design of Nervos CKB takes into account the challenges of off-chain scalability and provides solutions suitable for this objective.
How to Buy CKB
1. How to Buy CKB on Exchanges
Step 1: Choose a reputable exchange platform
Select a trustworthy platform from numerous exchanges to make your purchase. Some trusted platforms include Coinbase, Binance, OKX, among others.
Step 2: Register an account
Create an account on the chosen exchange platform. You may need to provide personal information (such as phone number, email) to complete the registration process.
Step 3: Complete identity verification
For security reasons, some platforms may require you to undergo identity verification. Follow the platform's instructions, providing necessary identity information (such as country/ID number) and undergo facial recognition if prompted. Once your identity is confirmed, you'll receive notification.
Step 4: Link your bank or payment method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing CKB.
Step 5: Purchase CKB
Find the option to buy coins on the exchange platform, select the C2C buying process, then input the amount of cryptocurrency you wish to purchase. Typically, you'll choose to buy USDT first and then proceed with the purchase method. Simply place your order, make payment to the seller, and you'll receive the cryptocurrency. Once the payment is completed, you can use your exchange assets to buy CKB.
Step 6: Store your CKB
After purchase, you can choose to store CKB in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Tips
To protect your exchange account and CKB assets, it's essential to use strong passwords and enable two-factor authentication.
How to Buy CKB via Over-the-Counter (OTC) Trading
Over-the-counter (OTC) CKB trading occurs directly between buyers and sellers, bypassing exchanges or other intermediaries. Here are the general steps for OTC CKB trading:
Step 1: Find an OTC trading channel
Start by finding a reliable OTC trading platform or service provider. These platforms typically offer online marketplaces or ways to connect with brokers for trading.
Step 2: Register an account
Sign up for an account on the chosen OTC trading platform. You may need to provide some personal information (phone/email) to complete the registration process.
Step 3: Complete identity verification
For security purposes, some platforms may require you to undergo identity verification. Follow the platform's instructions to provide necessary identity information (nationality/ID) and undergo facial recognition or other verification steps.
Step 4: Browse the trading list
After logging into your account, browse through the platform's trading list to find CKB trades that interest you. You can choose trades based on the trader's reputation rating, trade volume, price, and payment methods.
Step 5: Select a trading partner
Once you find a suitable trade, click to enter the trading page and carefully review the trader's terms and conditions. Ensure you understand and agree to the trader's requirements, such as trade amount, payment method, trade time, etc.
Step 6: Negotiate trade details
After reaching an agreement with the trader, you can negotiate trade details such as trade amount, payment method, trade time, and location.
Step 7: Make payment
According to the agreement reached with the trader, use the chosen payment method to pay the CKB purchase amount to the seller.
Step 8: Confirm receipt
Once the trader confirms receiving your payment, they will release CKB to the CKB address you provided. You can check your CKB wallet balance after the trade to confirm its success.
3. How to Buy CKB through Decentralized Exchanges (DEX)
Buying CKB on decentralized exchanges (DEX) differs from purchasing other cryptocurrencies on centralized exchanges. Here are the general steps for buying CKB on DEX:
Step 1: Choose a CKB-supporting wallet
Create a new wallet supporting CKB assets, then select a decentralized exchange that supports CKB.
Step 2: Connect your wallet
Before using the DEX, you need to connect a wallet supporting the CKB blockchain. You can connect your wallet to the selected DEX via browser extension or mobile application.
Step 3: Deposit funds
In your wallet, select deposit and choose the asset you want to deposit (such as stablecoins). Follow the wallet prompts to complete the deposit process.
Step 4: Find the trading pair
Search or browse for the CKB trading pair on the DEX. Typically, you can find a search box or a list of trading pairs on the exchange's homepage or trading interface.
Step 5: Place an order
Once you find the CKB trading pair, you can choose between market or limit orders and input the quantity you want to purchase. Ensure you input the correct price and quantity in the order, then confirm the order.
Step 6: Wait for the trade to execute
Your order will be submitted to the CKB blockchain and wait for confirmation and execution by miners. Once the order is executed, you will receive the purchased CKB, which you can view in your wallet balance.
Step 7: Withdraw funds
After completing the trade, you can choose to withdraw the purchased CKB to your wallet for safer storage of your digital assets.
4. Official Channels for CKB Project Team or Community
Sometimes, the CKB project team or community may launch official channels for direct CKB purchases. This may include private placements, presales, or other forms of direct sales.