Nervos Network

Nervos is a layer-1 blockchain launched in November 2021 that uses a proof-of-work consensus mechanism to validate transactions. The Nervos architecture has been designed as a multi-layer network; the first layer known as the Common Knowledge Base (CKB) is used for verifying and storing transactions (store of assets), while the second layer provides smart contract features and executes the high-volume transactions. The blockchain’s native token is CKByte (CKB), which allows users and developers to build, participate and claim storage space on the network. Its use cases range from DeFi, gaming, oracles, social, and storage.

Nervos has also developed its own cross-chain bridge–Force Bridge, which enables developers and users to transfer digital assets and dApps between the Nervos blockchain and other connected ecosystems such as Ethereum, Cardano, and BNB Chain.

Key customers and partnerships

In December 2020, Nervos partnered with Oracle to integrate the latter’s cross-chain data platform–Band Protocol–to provide developers on the Nervos blockchain with real-time data from sources such as crypto price aggregators, exchanges, foreign exchange rate providers, and sports and esports data reporters.

Funding and financials

Nervos raised USD 72 million through an initial coin offering in October 2019, with participation from China Merchants Bank, Polychain Capital, and Blockchain Capital. The new capital was geared toward engineering as well as research and development required to maintain and upgrade the Nervos project.