Hello and welcome to this blog post about Nervos Network CKB. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the replace Nervos Network CKB and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Nervos Network CKB.
Without wasting any further time lets get started to dive right in.
|Cipher Wang, Daniel Lv, Jan Xie, Kevin Wang, Terry Tai
What is Nervos Network CKB?
The Nervos Network is an open source public blockchain ecosystem and collection of protocols solving the biggest challenges facing blockchains like Bitcoin and Ethereum today.
The Nervos CKB (Common Knowledge Base) is the layer 1, proof of work public blockchain protocol of the Nervos Network. It allows any crypto-asset to be stored with the security, immutability and permissionless nature of Bitcoin while enabling smart contracts, layer 2 scaling and captures the total network value through its “store of value” crypto-economic design and native token, the CKByte.
What problem Nervos Network CKB is trying to solve?
Bitcoin was the first public permissionless blockchain, designed to be used solely as peer-to-peer cash. Ethereum extends the use case of blockchain to create a general purpose trust computing platform on which people have built all kinds of decentralized applications.
The booming applications on the Bitcoin and Ethereum networks have proven the concept of the future crypto-economy. However, these networks also suffer from the notorious scalability problem, their transaction processing capability cannot scale with the number of participants in the network, which severely limits their potential.
The blockchain community has proposed many scalability solutions in recent years. In general, we can divide these solutions into two categories, on-chain scaling and off-chain scaling.
The Nervos Network represents the entire ecosystem of Nervos and is a collection of protocols, layer 2’s and public blockchains underpinned by the Nervos CKB and CKByte token.
A core design principle at Nervos is that layer 2 solutions such as side-chains, plasma chains and state channels are the best way to scale a blockchain system.
Rather than compromising the decentralization and security of the base layer through largely untested and novel consensus mechanisms in order to achieve high performance and TPS, we utilize layer 2 solutions that bring nearly unlimited transaction capabilities and minimal transaction cost to a layer 1 blockchain that’s designed to be secure, permissionless and decentralized. This in our opinion is the only way to solve the scalability trilemma.
If you are interested in joining the Nervos Network CKB Community
That’s all for this blog post.
It will be great if you can help me to spread the word about this project by sharing this post.
If you have any questions related to the Nervos Network (CKB) or need some further information or have some specific queries, feel free to ask your questions in Comment Section.
I monitor this section very closely and answer all your questions as fast as possible.
Also keep visiting us, as we keep on adding new content very frequently. You can also follow us on social media to get frequent updates.