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What is the issuance and circulation of Nervos Network (CKB) coins?
The Nervos Network's CKB coins, with a maximum supply of 37,891,949,997, are used for transaction fees, smart contract creation, and network governance participation.
Dec 03, 2024 at 09:36 pm
What is the Issuance and Circulation of Nervos Network (CKB) Coins?
Introduction
The Nervos Network (CKB) is a layer-1 public blockchain designed to provide security and scalability for decentralized applications. CKB coins are the native cryptocurrency of the Nervos Network and are used to pay for transaction fees, create and execute smart contracts, and participate in network governance.
Issuance
CKB coins are created through a process called mining. Miners are responsible for verifying and adding new blocks to the Nervos blockchain. As a reward for their work, miners receive CKB coins. The total supply of CKB coins is limited to 37,891,949,997, which was determined when the network was created.
Circulation
The circulating supply of CKB coins is the number of coins that are currently in circulation. This is calculated by subtracting the number of coins that have been burned from the total supply. As of July 2023, the circulating supply of CKB coins is approximately 27,955,443,000.
Distribution
CKB coins are distributed in a variety of ways, including:
- Mining: Miners receive CKB coins as a reward for verifying and adding new blocks to the blockchain.
- Staking: CKB coin holders can stake their coins to earn rewards.
- Exchanges: CKB coins can be bought and sold on cryptocurrency exchanges.
- App development: CKB coins can be used to pay for apps and services on the Nervos Network.
Use Cases
CKB coins have a variety of use cases, including:
- Transaction fees: CKB coins are used to pay for transaction fees on the Nervos Network.
- Smart contracts: CKB coins can be used to create and execute smart contracts on the Nervos Network.
- DApps: CKB coins can be used to pay for apps and services on the Nervos Network.
- Governance: CKB coin holders can participate in network governance by voting on proposals.
Conclusion
CKB coins are the native cryptocurrency of the Nervos Network and are used to pay for transaction fees, create and execute smart contracts, and participate in network governance. The total supply of CKB coins is limited to 37,891,949,997, and the circulating supply is approximately 27,955,443,000. CKB coins can be mined, staked, bought and sold on exchanges, and used to pay for apps and services on the Nervos Network.
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