: 標題: Nervos Network：用 CKB 擴充比特幣的核心技術原語

Nervos Network 旨在透過（公共知識庫（CKB））擴展比特幣的核心技術原語，這是一個可擴展的第 1 層區塊鏈，可為比特幣提供第 2 層支援。

output: Key Insights

輸出：關鍵見解

Primer

底漆

Common Knowledge Base (CKB) is a scalable Layer-1 blockchain that enables Layer-2 support for Bitcoin. CKB employs a Proof-of-Work consensus mechanism like Bitcoin but generalizes Bitcoin’s limited UTXO model and scripting capabilities. To improve Bitcoin’s limited programmability, Nervos Network leverages a custom Cell Model for state storage and a virtual machine (CKB-VM) for transaction execution. The cell model is core to CKB’s data structure and features a dual script model that allows any data to be stored and verified onchain. CKB-VM is CKB's execution engine for running smart contracts and decentralized applications. The VM utilizes the RISC-V instruction set, a flexible and simple open-source hardware architecture set (ISA) that supports multiple programming languages, including popular ones like C and Rust.

公共知識庫 (CKB) 是一個可擴展的第 1 層區塊鏈，可為比特幣提供第 2 層支援。 CKB 採用類似比特幣的工作量證明共識機制，但概括了比特幣有限的 UTXO 模型和腳本功能。為了改善比特幣有限的可程式性，Nervos Network 利用自訂 Cell 模型進行狀態存儲，並利用虛擬機器 (CKB-VM) 進行交易執行。 Cell 模型是 CKB 資料結構的核心，具有雙腳本模型，允許任何資料在鏈上儲存和驗證。 CKB-VM 是 CKB 的執行引擎，用於運行智慧合約和去中心化應用程式。該虛擬機器採用 RISC-V 指令集，這是一種靈活且簡單的開源硬體架構集 (ISA)，支援多種程式語言，包括 C 和 Rust 等流行語言。

Launched on mainnet in November 2019, Nervos Network has since evolved into one of the few independent blockchains scaling Bitcoin. Nervos scales Bitcoin through RGB++, an asset issuance protocol inspired by the RGB protocol. RGB++ allows users to issue assets on Bitcoin mainnet that are mapped to CKB cells through isomorphic binding. Although CKB serves as the data storage and verification layer for RGB++ assets and transactions, these assets inherit Bitcoin security. That is, these assets cannot be double spent as each asset is mapped to a UTXO on Bitcoin. Beyond asset issuance, Nervos aims to enable improved programmability for Bitcoin with the RGB++ layer, an extension of the RGB++ protocol that enables RGB++ assets to be mapped across other UTXO blockchains. The RGB++ layer serves as the smart contract and interoperability layer for RGB++ assets, enabling developers to build and deploy more flexible decentralized applications similar to those in EVM-compatible environments.

Nervos Network 於 2019 年 11 月在主網上推出，現已發展成為少數幾個可擴展比特幣的獨立區塊鏈之一。 Nervos 透過 RGB++ 來擴充比特幣，RGB++ 是一種受 RGB 協議啟發的資產發行協議。 RGB++ 允許用戶在比特幣主網上發行資產，並透過同構綁定映射到 CKB Cell。雖然 CKB 作為 RGB++ 資產和交易的資料儲存和驗證層，但這些資產繼承了比特幣的安全性。也就是說，這些資產不能被雙重支出，因為每個資產都對應到比特幣上的 UTXO。除了資產發行之外，Nervos 的目標是透過 RGB++ 層提高比特幣的可編程性，RGB++ 層是 RGB++ 協定的擴展，使 RGB++ 資產能夠映射到其他 UTXO 區塊鏈上。 RGB++層作為RGB++資產的智慧合約和互通層，使開發人員能夠建置和部署更靈活的去中心化應用程序，類似於EVM相容環境中的應用程式。

For a full primer on Nervos, refer to our Initiation of Coverage report.

有關 Nervos 的完整入門信息，請參閱我們的覆蓋範圍啟動報告。

Website / Twitter / Telegram

網站/推特/電報

Key Metrics

關鍵指標

Financial Analysis

財務分析

Nervos Network’s native token CKByte (CKB) plays an essential role in maintaining the network’s security and incentivizing efficient storage. CKB serves the following key functions on the network:

Nervos Network 的原生代幣 CKByte (CKB) 在維護網路安全和激勵高效儲存方面發揮著重要作用。 CKB 在網路上提供以下關鍵功能：

In Q3’24, CKB’s marketcap rose 36% QoQ to ~$752 million, recovering from a 38% decrease in Q2’24. Despite broader market contractions and mixed price sentiments in Q3’24, CKB’s price remained resilient in Q3’24, with its price rising by 35% QoQ to $0.017. This growth in marketcap and price was largely fueled by CKB’s exchange listing event in mid-September by the South Korean exchange Upbit. The listing reignited significant market interest in CKB, especially from the asian market, driving the token’s price to a quarterly high of $0.018. Consequently, CKB’s marketcap ranking improved from 119 in Q2 to 89 by the close of Q3’24.

2024 年第三季度，CKB 市值環比成長 36% 至約 7.52 億美元，從 2024 年第二季 38% 的下降中恢復過來。儘管 24 年第 3 季市場出現更廣泛的萎縮且價格情緒參差不齊，但 CKB 的價格在 24 年第 3 季仍保持彈性，其價格環比上漲 35% 至 0.017 美元。市值和價格的成長主要是由韓國交易所 Upbit 於 9 月中旬進行的 CKB 交易所上市活動所推動的。這次上市重新激發了市場對 CKB 的巨大興趣，尤其是亞洲市場，推動該代幣的價格升至 0.018 美元的季度高點。因此，CKB 的市值排名從第二季的 119 位上升到 24 年第三季末的 89 位。

Secondary Issuance

二次發行

CKB manages state bloat through two methods. Firstly, to store data onchain, users must lock CKB tokens. Rather than directly charging a fee for users locking CKB tokens to pay for state rent, CKB indirectly charges fees through an inflationary mechanism known as secondary issuance. Each year, 1.344 billion CKB tokens are minted through secondary emissions and distributed to miners, Nervos DAO depositors, and eventually, an onchain protocol treasury. As such, the network’s secondary issuance introduces inflation targeted at users storing data, as locked CKB tokens are automatically exposed to value dilution, which is an indirect way of paying for State Rent. As of Q3’24, over 700 million CKB tokens have been distributed to miners as state rent, ~1.20 billion CKB tokens have accrued to Nervos DAO depositors, and over 4.7 billion CKB tokens meant for the proposed Treasury Fund have been burned since the protocol’s treasury remains inactive as of Q3’24.

CKB 透過兩種方法來管理狀態膨脹。首先，要在鏈上儲存數據，用戶必須鎖定 CKB 代幣。 CKB 不是直接向鎖定 CKB 代幣以支付狀態租金的用戶收取費用，而是透過稱為二次發行的通膨機制間接收取費用。每年，透過二次發行鑄造 13.44 億個 CKB 代幣，並將其分配給礦工、Nervos DAO 儲戶，並最終分配給鏈上協議金庫。因此，網路的二次發行引入了針對儲存資料的用戶的通貨膨脹，因為鎖定的 CKB 代幣會自動面臨價值稀釋，這是支付狀態租金的間接方式。截至24 年第三季度，超過7 億個CKB 代幣已作為狀態租金分配給礦工，約12 億個CKB 代幣已累計給Nervos DAO 儲戶，自該協議發布以來，用於擬議國庫基金的超過47億個CKB 代幣已被銷毀截至 24 年第三季度，財務部門仍不活躍。

Nervos CKB revenue is measured as total transaction fees and is distributed to Miners through Nervos CKB”s Proof of Work mechanism (along with a portion of the network’s secondary issuance. In Q3 2024, network revenue increased by 47% QoQ to $568 million, driven by a 36% QoQ rise in circulating market cap. This growth was also fueled by CKB’s exchange listing on Upbit in September, which boosted trading activity and price, significantly increasing transaction fees in USD terms. Additionally, the launch of key infrastructure developments, including the RGB++ Layer and Fiber Network, further enhanced network activity by enabling more smart contract transactions, particularly for BTCFi applications.

Nervos CKB 收入以總交易費用衡量，並透過 Nervos CKB 的工作量證明機制（以及網路二次發行的一部分）分配給礦工。環比成長36% 也得益於CKB 9 月在Upbit 交易所上市，這提振了交易活動和價格，顯著增加了以美元計價的交易費用。成長。

Network Analysis

網路分析

Common Knowledge Base transactions and new addresses rose 34% QoQ to

公共知識庫交易和新地址較上季成長 34%