Value Preservation Gradually Becomes A Reality In NervosNetwork
One of the undoings of the crypto space is the dilution of the value preservation process. Most crypto entities are focused on transactional gains over everything else. While such is expected to create awareness for the digital space, the value chain is neglected.
The Big Idea Behind NervosNetwork
NervosNetwork intends to tackle Value Preservation issues through its highly adaptable Common Knowledge Base (CKB). The open-source layer is poised to be a secure asset base due to its distinct design. Like everything in the crypto space, NervosNetwork is fueled by its native token, CKBytes. Though the Nervos ecosystem is a decentralized space, ownership of the CKByte gives you a seat at the table. The capacity or number of cells is dependent on the quantity of this token in your possession.
Use Cases Of Nervos' Utility Token
There’s no compulsion to use the state space made available on the CKB. Users can 'rent' out their state space and earn tokens for their lending activity on NervosNetwork. The great thing about using the CKB is the NervosDAO reward. By attaching some sort of incentive to using the state space, more people are motivated to use theirs – no dormant state space.
Typical of the blockchain, the CKB indulges miners of its native token, CKBytes. The value of the CKBytes isn’t fixed – no surprise here as it’s not a stable coin. The worth of the CKByte is determined by the number of interested parties in the state space. With more users looking to get hold of these spaces, miners can expect their net worth to go higher since the CKBytes becomes quite valuable.
The CKByte isn’t only mined, it can be gotten as payment for a state space.
CKB provides an opportunity for both miners and entities looking to make a profit.
Every protocol intending to preserve value has to be self-sufficient, and that’s precisely what’s obtainable with the NervosNetwork. This protocol charges state users a fee for the use of the ecosystem, and these payments are piled up in a pool. If usage of the protocol drops at any point, miners aren’t shortchanged.
On CKB, users can take control of the nodes, but this comes at a cost. It might offer a decentralized ecosystem but there’s a monetary side to it.
Other Use Cases Of CKB
NervosNetwork gets value for every node possessed by users.
Being an asset store, CKB’s massive security architecture ensures unauthorized access isn’t possible despite the decentralized nature of the ecosystem.
On the NervosNetwork as a whole, CKB will serve as a support to any sort of cryptography, which in turn will make it very interoperable with other blockchains. As well as scalable, secured and decentralized. For instance, If you users seek to do atomic swaps between different blockchains, this can can be done and supported on NervosNetwork (CKB).
Keep up to date Information about NervosNetwork by following their official websites below:
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