Nervos NetworkCKB

Nervos Network is an open-source blockchain ecosystem centered around the Common Knowledge Base (CKB), a permissionless Proof-of-Work Layer 1 designed for long-term security, decentralization and flexible verification.

CKB uses NC-Max, an evolution of Nakamoto Consensus, together with the Eaglesong Proof-of-Work algorithm. Its programming model is built around Cells, an extension of the UTXO model that allows assets, data and programmable state to be represented on-chain.

Smart contracts execute through CKB-VM, a virtual machine based on the open RISC-V instruction set. This gives developers considerable flexibility in the programming languages and cryptographic primitives that can be supported by the network.

The native asset, CKByte (CKB), is directly tied to on-chain state capacity: one CKB represents the right to occupy one byte of state on the CKB blockchain. CKB is also used for transaction fees and miner rewards.

CKB's monetary model combines finite base issuance with permanent secondary issuance. Base issuance totals 33.6 billion CKB and follows a halving schedule, while 1.344 billion CKB of secondary issuance is created annually. The Nervos DAO allows holders who are not occupying on-chain state to mitigate the dilution associated with secondary issuance.

Nervos was founded in 2018, and its CKB mainnet launched in November 2019. The ecosystem has since expanded around Bitcoin interoperability, RGB++, the Fiber Network, wallets, payment infrastructure and other applications built on CKB's programmable UTXO architecture.