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<\/p>\nFor the last couple of weeks, Ethereum has been under fire. While the project developers are trying to find ways to lessen the network load, Ethereum has to deal with the excessive volume of transactions. It leads to an increase in mining fees and elevated transaction costs. Vitalik has come up with the solution, but it doesn\u2019t work yet. Nervos Network has set up an ambitious goal\u00a0to fix Ethereum and Bitcoin blockchains. Let\u2019s get into it.<\/p>\n
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The developers mention Bitcoin and Ethereum on the homepage of their website<\/a>. First, they talk about their advantages and then about their weaknesses. For example, they say that Bitcoin is the most secure and trusted \u201cstore of value\u201d blockchain in the world today. However, Bitcoin can only securely store its own native token (BTC) and was not designed for future scaling solutions.<\/p>\n On the other hand, they say that Ethereum is the most used smart contract platform. But value created on the network is not captured by ETH\u2019s token price.<\/p>\n Then the developers provide definitions for the key terms. Memorize them to avoid confusion.<\/p>\n A bit of theory. Layer 1 or on-chain solutions are changes in the blockchain that involve serious chain transformation. Examples are increase in block size (to increase the volume of transactions) or decrease an average block find time (to increase the network capacity thanks to the higher number of blocks). It can be achieved by on-chain network updates or forks. Hence the name.<\/p>\n Layer 2 solutions are introduced over the mainnet and don\u2019t require a transformation of the existing blockchain. As if they were operating outside the main blockchain while allowing to lessen the network load. The Lightning Network in Bitcoin is an example of the layer 2 protocol.<\/p>\n To sum up, the developers point out the following advantages of Nervos CKB:<\/p>\n Moreover, the developers got financing in the amount of $28 million from such serious investors as Sequoia China, Polychain Capital, Multicoin Capital, and FBG Capital.<\/p>\n CKByte is the native token of the Nervos CKB. It is designed to be used as a store of value and for resource management inside the blockchain. CKByte can be used to store assets, execute smart contracts, or rent out your space on the blockchain. This is what the developers say \u2013\u00a0what exactly it means for the project is still unclear.<\/p>\n CKByte scales with value creation through other tokens, assets, data, and smart contracts on the network. The developers expect the demand for the CKByte token to grow as the Nervos network grows.<\/p>\n The CKByte token sale is scheduled for the third quarter of 2019. The mainnet will be launched in the fourth quarter of 2019.<\/p>\n The Nervos Network is the ecosystem of Nervos and is a collection of protocols, layer 2 solutions, CKByte token, and other components of the project. The Nervos developers don\u2019t want to introduce \u201cuntested and novel consensus mechanisms in order to achieve high performance and TPS.\u201d They prefer layer 2 solutions instead. There are three reasons for that.<\/p>\n The developers think that this is the only way to solve the scalability trilemma.<\/p>\n Scalability trilemma is a blockchain problem according to which chains cannot be decentralized, secure and scalable at the same time. They can possess only two qualities out of three. For example, Bitcoin is secure and decentralized, but it has issues with processing more transactions.<\/p>\n The CKByte token sale will be held on CoinList<\/a> in October 2019. Before that, it\u2019s impossible to buy tokens on other platforms, so beware of fraud.<\/p>\n Keep in mind that all the details about the token sale will be available exclusively through the official CKB channels. The company doesn\u2019t have any third-party representatives.<\/p>\n CKByte mining will start on the 2Miners pool <\/a>as soon as the working network of the project is launched in October 2019. We will keep you posted on our Twitter<\/a> and Telegram channel<\/a>.<\/p>\n![\"\"](\"https:\/\/2miners.com\/blog\/wp-content\/uploads\/2019\/10\/image3.png\")
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What Is CKByte<\/h2>\n
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<\/p>\nAdvantages Of Nervos Network<\/h2>\n
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<\/p>\nNervos CKByte Token Sale<\/h2>\n
Nervos CKByte Mining<\/h2>\n
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