Preparing for the First CKB Halving: Nervos Community Gets Ready

Preparing for the First CKB Halving: Nervos Community Gets Ready


CKB’s First Halving Marks Major Milestone

As the blockchain of the Nervos Network, CKB is preparing for a significant milestone with its first halving on November 19th. The halving will result in a decrease in CKB’s hard-capped base issuance rate, cutting real inflation from 7.92% to 3.77%, one of the lowest among major Layer 1 blockchains.

Following this event, the base issuance will drop from 4.2 billion to 2.1 billion CKB annually, while the secondary issuance, which is uncapped, will remain at 1.344 billion CKB yearly. This uncapped secondary issuance ensures predictable, long-term income for CKB miners and prevents excessive state growth while affecting only state occupiers.

The Common Knowledge Base

The network’s powerful Layer 1, known as the Common Knowledge Base (CKB), employs Proof-of-Work for consensus, a groundbreaking generalized UTXO model, and a RISC-V instruction set-based virtual machine for transactions and smart contract execution. CKB’s unprecedented flexibility makes it suitable for diverse scaling and application solutions while ensuring the network’s resilience, neutrality, and permissionlessness through Proof-of-Work.

Beyond Account Abstraction

CKB sets a new industry standard for flexibility in account abstraction with its Cell model, giving developers full control over on-chain data structure and transaction authorization logic. Furthermore, CKB leverages the CKB-VM virtual machine and allows the use of various signature and hashing algorithms without hard forks, redefining what a blockchain can do, as demonstrated by products like JoyID and d.id.

Solving the Challenge of State Bloat

The Nervos Network addresses the challenge of state bloat through a multi-layered architecture that ties state growth to the network’s native token, reducing on-chain storage requirements and minimizing node hardware requirements. This design also implements state rent through narrowly targeted inflation, promoting responsible state management and providing a sustainable, predictable source of income for miners.

First Halving: A Beacon of Innovation

As CKB approaches its first halving, it represents innovation and long-term sustainability in the blockchain industry. The upcoming pivotal moment will be celebrated with an online party organized by the Nervos Foundation.

Hot Take

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

CKB’s first halving represents a significant step for the Nervos Network, emphasizing innovation and sustainability. The Common Knowledge Base continues to redefine blockchain capabilities and bring transformative experiences to users through its unparalleled flexibility and architecture.

Preparing for the First CKB Halving: Nervos Community Gets Ready
Author – Contributor at Lolacoin.org | Website

Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding. Guiding both seasoned explorers and curious newcomers, Cyrus’s insights serve as a compass for well-informed decision-making amidst the ever-shifting tides of cryptocurrencies. With the artistry of a linguistic virtuoso, they craft narratives that enrich the evolving tapestry of the crypto landscape.