The Nervos Foundation launched the project in 2018, bringing together researchers, engineers, and developers to form the core team. The platform was created by three individuals: Terry Tai, who was instrumental in the development of the Yunbi cryptocurrency exchange and co-founded Teahour.fm; Daniel Lv, a co-founder of ruby-china.org and former Chief Technology Officer (CTO) for both imToken and Yunbi; and Kevin Wang, an engineer who has consulted for IBM Silicon Valley Lab and co-founded Launch School.

The Nervos Network showcases the development team's distinctive approach through its design: the blockchain is open-source, supports multiple assets, and features a multilayer architecture comprising various protocols. The dual-layer architecture of Nervos involves two primary layers. The first is the layer-1 base layer, known as the Common Knowledge Base, which achieves consensus using Proof of Work (PoW). This layer has its own cryptocurrency, CKByte (CKB), which powers the Nervos ecosystem. The second layer is the computational layer, where transactions are processed in real time and where developers execute programming tasks. Nervos Network aims to facilitate the creation and utilization of decentralized applications (dApps) by integrating the security of the PoW algorithm with scalability and interlayer data-sharing capabilities. The economic model of Nervos Network is scalable, allowing participants to contribute to the project's growth through platform features. In return, they gain access to a decentralized, open, and censorship-resistant platform. Users can store their assets on the platform, with costs determined by storage space and duration. Related Pages: Explore Quant (QNT), Cosmos (ATOM), and Polkadot (DOT). Discover the differences between Proof-of-Work and Proof-of-Stake in blockchain. Learn about layer-1 blockchains with our crypto glossary. Understand what dApps are through Eulerpool Alexandria.

CKByte (Common Knowledge Base), or CKB, serves as the native token of the Nervos Network. The total supply of CKB is 43,510,781,425 coins, distributed as follows: - 21.5% allocated to the public token sale for public sale investors; - 17% designated for the ecosystem fund; - 15% reserved for the team, vested over a four-year period; - 14% allocated to the private sale in 2018, earmarked for certain institutional investors and unlocked over two years; - 5% set aside for the founding partners, with unlocking over three years; - 2% allocated to the foundation; - 0.5% dedicated to the platform's testnet incentives; - 25% of the Genesis tokens were burned and never circulated. As of March 2023, there are 39,936,460,802 CKB tokens in circulation. CKB acts as a utility token that provides essential flexibility throughout the Nervos ecosystem. It serves as a reserve asset on layer 2, facilitating payment for block rewards, staking rewards, and transaction fees. Additionally, CKB holders gain access to state storage on the platform's mainnet, allowing them to store 1 byte of data on the layer 1 blockchain. The available storage space is proportional to the users' assets and holdings.

Nervos Network employs a Proof-of-Work (PoW) based Nakamoto consensus mechanism to secure decentralized applications and digital assets. The CKB token is implemented on a PoW blockchain, ensuring both security and decentralization, and is safeguarded and mined using an ASIC-supported PoW function. The network is open-source and has undergone auditing by the third party CertiK. Furthermore, the team routinely hosts hackathons offering cash prizes, allowing participants to earn rewards for identifying security vulnerabilities within the network.

As of March 2023, the leading exchanges for trading CKB include Binance, KuCoin, Bithumb, Bittrex, Gate.io, Huobi, Crypto.com Exchange, Coinone, BKEX, MEXC, CoinEx, Indodax, WazirX, Tokocrypto, Bitrue, CoinDCX, among others. Download the Eulerpool mobile app to monitor the price of CKB in real-time. Access the latest cryptocurrency news and educational articles on Eulerpool Alexandria.