CKB Price today

Nervos Network describes itself as a public blockchain ecosystem, protocol set, and open source. Nervos Network is designed according to the layered structure:

• First layer – Nervos Common Knowledge Base (CKB): This is an open public blockchain structure based on the Proof of Work (PoW) mechanism, focusing on security problem solving, decentralization, and support operations for the next class.
• Second layer – including Sidechain, State channel, Plasma chain: This layer runs various solutions including Nervos App Chain to scale and optimize dApps for users.

Nervos Network wants to find a way to overcome the challenges that many major platforms, like Ethereum or Bitcoin, are currently facing. Thanks to the 2-layer structure, Nervos Network gives users almost unlimited transaction capacity, transaction costs are also significantly reduced without affecting decentralization or security.

CKB is a utility token of the Nervos ecosystem and can be used for the following purposes:

• Pay for transaction fees on the exchange and in the system.
• Pay deposit and withdrawal fees from the exchange.
• More rights to store data on the network.
• Get a bonus when lending CKB.