NervOS CKB is a public decentralized blockchain that has been designed to function as a multi-asset settlement layer. Although multi-asset settlement has proven to be the most compelling use case for Ethereum, the ETH economics are based on transactions.
CKB uses ETH and BTC learnings to enable the core value proposition of layer-1 public blockchains with long-term security.
Nervos Network is a one-of-a-kind project in the cryptocurrency smart contract space.
Here are the core principles that led to the design of the Nervos Network:
The layer 1 blockchain must provide a generic programming model for interactive protocols and blockchain interoperability, and to allow the protocol to be maximally customizable and easy to upgrade.
To best allocate resources and avoid the "tragedy of the commons", state storage has to have a clear and fine-grained ownership model. To deliver consistent long-term rewards to miners (regardless of transaction demand), state occupation must have an ongoing cost.
While the Nervos CKB has full smart contract capabilities like those of Ethereum, Cardano and other platforms, its economic model is designed for common knowledge preservation, instead of payment for decentralized computation.
The CKB consensus protocol is a variant of NC that increases its performance limit and resistance to selfish mining while retaining its benefits.
Nervos CKB uses a consensus algorithm derived from Nakamoto Consensus to increase the throughput of PoW consensus.
The CKB's economic model allows for the issuance of native tokens to limit state growth while maintaining a low barrier to participation and ensuring decentralization. As CKBytes become scarce, they can be most efficiently priced and allocated.
The Nervos Network's genesis block will contain 33.6 billion CKBytes, of which 8.4 billion will be burned immediately. CKBytes are issued in two parts: base issuance and secondary issuance.