SAN FRANCISCO, Nov. 6, 2019 /PRNewswire/ -- Nervos Network, an open source public blockchain project, today announced that it has open-sourced its mainnet "Lina" to the Nervos community for public release. After months of rigorous testing in a live network environment, the Nervos mainnet is now fully developed and can be initiated by anyone in the community. Miners and developers are expected to be able to participate in and utilize the network starting November 16th.
"Two years ago, we set out to build the underlying infrastructure for the future decentralized economy. Our mainnet launch brings us one step closer to enabling that future but this milestone only marks the start of the Nervos community's journey," said Kevin Wang, co-founder of Nervos. "First-generation blockchains like Bitcoin and Ethereum paved the way by showing us what's possible. Nervos was built on their learnings but it's now up to us and our community to solve the problems of tomorrow as blockchain adoption is brought to the masses."
Nervos' unique layered architecture allows developers and enterprises to launch products and services on the blockchain without trading off security and decentralization for speed and scalability. Nervos' Layer 1, the Common Knowledge Base (CKB), is a public, permissionless blockchain that anchors the network and provides a secure foundation for storing and preserving assets. With the support of Layer 1, decentralized applications running on Layer 2 are expected to have unlimited scalability via various layer-two solutions.
Miners and developers will be able to utilize the Nervos CKB on the "Lina" mainnet and participate in the Nervos ecosystem. CKByte, the native utility token of the Nervos Network, can be used for resource management and miner incentivization. CKByte also entitles the holder to an allocation of state storage space on the Nervos blockchain.
During a six-month testnet period, Nervos launched a number of initiatives to strengthen its security and ensure a stable network at mainnet launch. Mainnet preparations included a series of mining competitions to stress test the network (with hashrate exceeding 20 TH/s), two independent security audits, and a $1 million bug bounty program.
To fuel community-driven research and development of its blockchain network, Nervos has raised $72 million in a token sale via Coinlist. Several institutions participated in the sale, including China Merchants Bank International (CMBI), Polychain Capital, Blockchain Capital, Hashkey, MultiCoin, and Distributed Global.
Nervos co-founder Terry Tai added, "Advancements in network technology and the evolving needs of enterprises and end-users have created the perfect storm for blockchain innovation to meet their needs. We're no longer on the cusp of the decentralized revolution—it's already here. The timing of our mainnet couldn't be better."
About Nervos Network
The Nervos Network is a collection of protocols and public blockchain ecosystem aiming to solve the biggest challenges facing blockchains like Bitcoin and Ethereum today.
The Nervos Common Knowledge Base (CKB) is the layer 1, proof of work public permissionless blockchain protocol of the Nervos Network. It allows any crypto-asset to be stored with the security, immutability and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling. Its unique crypto-economic model is designed to better align the interests of users, developers, and miners as compared to first-generation blockchains.
Nervos Network was founded by the creators of Spark Pool, the largest ETH mining pool; imToken, the world's largest Ethereum wallet; Cryptape, the largest and most recognized blockchain engineering team in China; and contributors to Bitcoin and Ethereum core protocol research and development.
For more information on Nervos, visit www.nervos.org.
SOURCE Nervos Network