Nervos Community Gears Up for First CKB Halving
Tulum, Mexico, November 17th, 2023, Chainwire — CKB, the blockchain of the Nervos Network, is set to mark a significant milestone with its first halving on November 19th. This event will cut CKB’s hard-capped base issuance rate in half, bringing real inflation down from 7.92% to 3.77%, among the lowest across major Layer 1 blockchains. […]...
- The Nervos Network's blockchain, CKB, is set to undergo its first halving on November 19th.
- The halving will cut CKB's base issuance rate in half, reducing inflation from 7.92% to 3.77%.
- The base issuance will drop from 4.2 billion to 2.1 billion CKB per year.
- The secondary issuance, which is uncapped, will remain unchanged at 1.344 billion CKB annually.
- The uncapped secondary issuance ensures a predictable source of income for CKB miners and acts as a disinflationary token for long-term holders.
- CKB's Common Knowledge Base (CKB) employs Proof-of-Work for consensus and supports diverse scaling and application solutions.
- CKB's accounting model, the Cell model, gives developers control over data structure and transaction authorization logic.
- CKB uses the CKB-VM virtual machine, allowing developers to deploy various signature and hashing algorithms without hard forks.
- Products like JoyID and d.id are already using CKB to offer blockchain experiences to users.
- Nervos Network addresses state bloat through a multi-layered architecture and ties state growth to the network's native token.
- State rent is implemented through targeted inflation to incentivize responsible state management and provide income for miners.
The article highlights the significance of CKB's first halving and emphasizes its innovative features and long-term sustainability. The overall sentiment is positive.