The Nervos CKB (Common Knowledge Base) is a layer 1 blockchain that acts as a safe and decentralized repository for the network’s common knowledge. Common knowledge refers to states that have been validated by global consensus. Crypto-assets are a good example of common knowledge.
The CKB and other Nervos layers 2 protocols work together to support the crypto-economy. The generation layer (or computation layer, since the two terms are interchangeable) performs most transactions and generates new states, whereas the CKB (or layer 1) saves and specifies the state. When participants in Layer 2 believe it is necessary, they send newly formed states to the CKB.
The layered architecture isolates the state from computation, allowing each layer to be more flexible and scalable. CKB is the Nervos network’s lowest layer, with the biggest consensus and the most secure consensus. However, different programs may prefer different consensus scopes, making it inefficient to force all applications to utilize CKB’s consensus. Applications can select the best generation methods depending on their own requirements. Only when these applications need to submit states to CKB for the broader agreement will they be required to make these states common information that has been validated by CKB’s global consensus.
How does it Work?
CKB consensus is an overhauled Nakamoto agreement that utilizes Proof-of-Work to guarantee receptiveness, precision, and elite execution in circulated settings with network postponement and Byzantine node failures. CKB consensus is a Nakamoto consensus variety, which means nodes can openly join and leave the organization. Each node in the network can add to the consensus cycle by one or the other mining (finding the Proof of-Work) new blocks or approving that new blocks are authentic. It utilizes an ASIC-agnostic Proof-of-Work calculation fully intent on disseminating tokens as decently as doable while additionally guaranteeing the organization’s security.
Price Movement
At the time of writing CKB is being traded at the price of $0.02286 with an increase of almost 4.31% in the last 24 hours. It is a really strong token fundamentally. The maximum and minimum today are $0.023 and $0.02191 respectively. The daily trading volume has decreased by almost 1%. It had created its ATH in April 2021 and reached a price of almost $0.044. CKB has a circulating supply of almost 29.2B coins and a total supply of almost 35B. It is listed on coinmarketcap at rank 120th. It can be exchanged on Binance, KuCoin, Huobi.
Price Prediction – Nervos Network (CKB)
According to wallet investor thinks that CKB is a good investment. According to them, in one year, it would be worth around $0.0377. In five years, the price is expected to reach a value of $0.0931.
