Nervos Network Price

Nervos CKB token could be an interesting crypto asset to invest in, especially if you believe in the potential of Web3 and scalable blockchain ecosystems. The project is designed to provide innovative solutions to make dApps more scalable and suited for real-world applications.

The rising mainstream adoption of Web3 technology could increase the demand for robust ecosystems like Nervos, supporting the CKB token price in the market. An increase in developers building dApps on Nervos’s layer-1 and layer-2 solutions could drive up the demand for its CKB token and increase the value of Nervos token as an investment.

The Nervos Network price could also increase as developers roll out new upgrades and additional features that make the blockchain more attractive for developers and consumers. This could further drive up on-chain activity and increase the value of CKB crypto.

The CKB token price trades well under the $1 mark as of March 2023, below its all-time high price of $0.04412. One of the reasons for this value is the extremely high circulating supply of the $CKB crypto, which stands at just under 40,000,000,000.

For the Nervos Network price to reach $1, the project’s market cap could touch $40 billion - an extremely high valuation. Suppose the developers implement token-burning mechanisms or update the CKB tokenomics to reduce the token’s total supply. In that case, the price of Nervos CKB could cross the critical level of $1 in the future.

While it is impossible to offer an accurate CKB price prediction over any duration, several fundamentals can substantially impact the Nervos token's value. Some factors to monitor include the level of adoption of the blockchain by developers and users, future developments such as network upgrades, investments, partnerships, and integrations, and the overall sentiment in the crypto market.

CKB is the native token of the Nervos CKB layer-1 network. It has the following use cases:

Store of Value

You can invest in and hold CKB, treating it like a store of value similar to Bitcoin. This is especially effective if you believe in the long-term potential of the Nervos blockchain and token and practice HODLing as a strategy to grow your crypto portfolio.

Utility Token

CKB is required to pay for storage on the Nervos Network, with 1 CKB giving you access to 1 byte of storage on the decentralized network. You can also use CKB to pay for executing smart contracts and storing or renting space on the blockchain.

Mining

As a PoW blockchain, the Layer-1 Nervos blockchain relies on miners to validate transactions and produce new blocks that record the transactions and mine CKB coins. Learn more about how to mine CKB in this official guide.

Crypto Asset to Trade

Trade Nervos CKB against other cryptocurrencies to profit from changing market conditions and volatility. Check the current price of Nervos Network, CKB current market cap, current circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the CKB price chart before trading Nervos coin.

Earn Passive Income on KuCoin

You can also grow your CKB holdings securely and efficiently with KuCoin Crypto Lending. Visit this section of our platform to lend liquidity in CKB to KuCoin and earn attractive daily interest over seven days, 14 days, or 28 days.

CKB holders can lock their tokens in the Nervos DAO to participate in the decentralized governance mechanism of the blockchain and earn yield to grow their portfolio. Here’s how to stake CKB on Nervos DAO:

1. Visit the Portal Wallet - the official wallet of the Nervos ecosystem, and connect your MetaMask wallet to the dApp. Ensure your wallet is sufficiently funded with tokens by buying Nervos tokens on KuCoin or other supported platforms and withdrawing them to your wallet.

2. Click on the DAO option under the Assets tab on the homepage.

3. Enter the number of CKB tokens you wish to lock for yield in the Nervos DAO on the next page after reviewing the latest Annual Yield Rate.

4. Confirm the transaction using your wallet.

5. Sit back, earn rewards, and grow your holdings by staking CKB on the Nervos DAO.

Nervos uses a Proof-of-Work (PoW) consensus algorithm called NC-MAX, based on Bitcoin’s Nakamoto consensus. The proprietary consensus mechanism offers exemplary levels of security and decentralization while using network bandwidth most efficiently.

The Nervos consensus algorithm builds on Bitcoin’s consensus to offer better block propagation, throughput, and resistance to efforts of selfish mining. By opting for PoW over Proof-of-Stake (PoS) consensus, Nervos also overcomes potential challenges such as attempts of monopolization in the future, superior security, and deterministic rewards for network nodes.

Unlike Bitcoin’s PoW consensus, however, the Nervos Network’s NC-MAX consensus mechanism offers higher throughput and lower confirmation times and leverages layer-2 solutions to increase the ecosystem’s TPS exponentially. The layer-1 Nervos network offers a transaction processing speed ten times faster than Ethereum.

MetaMask is one of the most popular Web3 wallets in the crypto market and supports the EVM-compatible Nervos blockchain. Here’s how you can connect Nervos to MetaMask:

1. Create a wallet on MetaMask if you are a new user, and configure it by obtaining your seed phrase and storing it securely.

2. Click on the circle on the top right of your MetaMask wallet account and head to Settings.

3. Click on Networks on the next page and scroll down to click the ‘Add a network’ button.

4. Select the option to add a network manually and enter the following details:

i. Network Name: Godwoken Polyjuice Mainnet

ii. New RPC URL: https://mainnet.godwoken.io/rpc/eth-wallet

iii. Chain ID: 71394

iv. Currency Symbol: CKB

5. Click on Save to successfully add Nervos Network to your MetaMask wallet.