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Introduction to 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.

The CKB consensus protocol NC-Max has three major innovations based on Bitcoin's Nakamoto Consensus:

  • Two-step transaction confirmation to reduce orphan rate;
  • Dynamic block interval and block reward to best utilize bandwidth;
  • Considering all blocks in difficulty adjustment to defend against selfish mining.

Learn more about the Nervos Network 

 

CKB Wallet

CKB Wallet can help you manage CKB assets. You can use the wallet for CKB collection and transfer. At the same time, you can also experience the application built on the CKB main network in the wallet in the future.

  • CKB Official Wallet Neuron - Official Full Node Wallet on PC
  • imToken on mobile - provides digital asset management services for millions of users worldwide

 

Wallet Address Format

Nervos CKB follows BIP-173 rules to generate addresses. There are currently two formats for short addresses and full addresses.

🔸Short address format:

Ckb1qyq5lv479ewscx3ms620sv34pgeuz6zagaaqklhtgg

🔸Full address format: ckb1qjda0cr08m85hc8jlnfp3zer7xulejywt49kt2rr0vthywaa50xw3vumhs9nvu786dj9p0q5elx66t24n3kxgj53qks

The current imToken wallet uses the CKB short address format, with a length of 46 bits.

 

CKB Trading

You can obtain CKB by participating in PoW mining or trading on the CKB main network. CKB is currently listed on many digital currency trading platforms where you can exchange CKB with other currencies.

🔸Digital currency platform supporting CKB tradings:

  • Huobi
  • Bittrex
  • ...

 

Use

CKB Stake

Nervos DAO is a smart contract with which users can interact the same way as any smart contract on CKB. Holders can deposit their CKB in Nervos DAO at any time.

Nervos DAO is a time deposit that has a minimum deposit period (calculated in blocks), and the holder can only withdraw funds after a completed deposit period. If the holder does not withdraw CKB at the end of the deposit period, the CKB will automatically enter into a new deposit cycle.

 

CKB Transfer

The minimum transfer unit of a CKB is 1 Cell, and a minimum Cell is composed of capacity, lock, args, hash_type

  • capacity is equal to 8 bytes;
  • lock is equal to 32 bytes;
  • args is equal to 20 bytes;
  • hash_type is equal to 1 byte; 

A total of 61 bytes are added, and 1 byte is equal to 1 CKB, so the smallest cell is equal to 61 CKB, that is, the number of CKB in each transfer must not be less than 61.

 

Study

CKB Basic Information

Release time: November 16, 2019

Issue price: 1 CKB = 0.01 USDT

Total issuance: Genesis block 33.6 billion + basic issue 33.6 billion + secondary issue 1.344 billion per year

Total circulation: 12.376 billion in the first year

 

CKB Price

You can check the price of CKB through various digital currency market websites at home and abroad, such as:

 

Nervos Official Channel

Github: https://github.com/nervosnetwork