What is Nervos Network?

Nervos Network (CKB) is an open-source public blockchain ecosystem that strives to establish a peer-to-peer crypto-economy network. Launched in November 2019, Nervos Network employs a dual-layer architecture consisting of a base layer, known as the Common Knowledge Base (CKB), and a computation layer for processing transactions. The base layer operates on the Proof-of-Work (PoW) consensus mechanism and is fueled by its native cryptocurrency, CKByte (CKB). This layer is responsible for maintaining network security, managing resources, and enabling users to store data. The Nervos Network aims to allow developers to create decentralized applications (dApps) that can function across various blockchain systems, utilizing any of the network layers to run both decentralized apps and smart contracts.

How does Nervos Network work?

Nervos Network operates on a dual-layer architecture. The base layer, also known as the Common Knowledge Base (CKB), uses the Proof-of-Work (PoW) consensus mechanism and its native cryptocurrency, CKByte (CKB), to drive the ecosystem. This layer is responsible for network security, resource management, and data storage. The computation layer, on the other hand, processes transactions in real-time and is where developers carry out programming tasks. Nervos Network aims to simplify the creation and use of decentralized apps (dApps) by combining the security of the PoW algorithm with scalability and data sharing capabilities between layers. The network's economic model aims to be scalable, with the intention of allowing participants to contribute to the project's growth by using platform features, in exchange for access to a decentralized, open, and censorship-resistant platform.

What are the potential use cases for Nervos Network?

Nervos Network is designed to facilitate a wide range of blockchain services and capabilities. Its dual-layer architecture allows developers to create decentralized applications (dApps) that can operate on various blockchain systems. This means that any of the network layers can be used to run both decentralized apps and smart contracts. Furthermore, Nervos Network's economic model aims to be scalable, which means that participants can contribute to the project's growth by using platform features. In return, they gain access to a decentralized, open, and censorship-resistant platform. Users may use the platform to store their assets, with the cost potentially depending on the amount of space they need and the duration of their storage needs.

What is the history of Nervos Network?

Nervos Network was created by the Nervos Foundation, a team of researchers, engineers, and developers based in China. The core team was assembled in 2018 and includes three key individuals: 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. The Nervos mainnet was launched in November 2019, introducing a dual-layer architecture to the blockchain ecosystem. The network's design reflects the development team's methodology, with an open-source blockchain, support for multiple assets, and a multi-layered architecture with several protocols.