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https://embed.notionlytics.com/wt/ZXlKd1lXZGxTV1FpT2lKak5EVmpNV1k0Wm1NeU5EazBNMkU0WWpKaE5HSmhNekF4WVRRMk5UbGxNeUlzSW5kdmNtdHpjR0ZqWlZSeVlXTnJaWEpKWkNJNklqaFVaSHBoZDAxeVVFeFFOMnRJVmxoWU5HRnhJbjA9
The Common Knowledge Byte (referred to as CKByte for short) is the native token of the Nervos Common Knowledge Base blockchain (a PoW based blockchain supporting multi-asset). It represents ownership of a piece of the CKB blockchain’s current state. For example, if Alice owns 1000 CKBytes, she can use those 1000 bytes to store assets, application state, or other types of common knowledge on the CKB blockchain.
CKBytes can be used as a means of resource management or as a store of value. CKByte ownership is analogous to land ownership, you can rent out your space, use it to store assets, smart contracts and other types of “common knowledge”, or for value preservation you can simply “hodl” in the Nervos DAO.
There are 33.6 billion CKBytes in the genesis block, another 33.6 billion CKBytes in the total base issuance and a continuous secondary issuance of 1.344 billion CKBytes per year.
👇**Please click the button to see detailed contents**👇
Why bother to burn 25% of the tokens in the genesis block? Why not just issue fewer tokens?
When we say “burn 25% of Nervos CKBytes in genesis block”, the 8.4 billion CKBytes will be sent to an address owned by Satoshi. This essentially means that no one will move or touch those tokens (unless Satoshi comes back and that would be another story.
The 8.4 billion CKBytes will not disappear (as normally you will assume burned=disappear), more importantly, it will have an impact on the secondary issuance.
The Nervos Foundation will write data to occupy 15% of the CKBytes in the genesis block, while leaving the other 10% CKBytes of the genesis block liquid (not being locked into Nervos DAO!)