{"id":216841,"date":"2021-04-01T21:06:25","date_gmt":"2021-04-01T18:06:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nervos-network-ckb-gains-341-as-defi-and-layer-2-development-progress\/"},"modified":"2021-04-01T21:06:25","modified_gmt":"2021-04-01T18:06:25","slug":"nervos-network-ckb-gains-341-as-defi-and-layer-2-development-progress","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nervos-network-ckb-gains-341-as-defi-and-layer-2-development-progress\/","title":{"rendered":"# Nervos Network (CKB) gains 341% as DeFi and layer-2 development progress"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e5b5772b2d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e5b5772b2d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nervos-network-ckb-gains-341-as-defi-and-layer-2-development-progress\/#Exchange_listing_government_adoption_and_DeFi_growth_back_the_current_rally\" >Exchange listing, government adoption and DeFi growth back the current rally<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/nervos-network-ckb-gains-341-as-defi-and-layer-2-development-progress\/#The_proof_is_in_the_pudding\" >The proof is in the pudding<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Nervos Network (CKB) gains 341% as DeFi and layer-2 development progress <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The crypto market continues to search for scaling solutions as decentralized finance (DeFi) <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications struggle with surging fees, but some alternative solutions are piquing investors&#8217; interest.\u00a0<\/p>\n<p>For example, Nervos Network has enticed investors&#8217; appetites with a 341% rally in a month. The project also carries the Chinese government&#8217;s stamp of approval, further increasing the odds for this project&#8217;s future relevance.<\/p>\n<p>Nervos Network is a blockchain project based in China that supports layer-two scaling solutions. Since its inception, the project has sought to target decentralized finance (DeFi) and asset tokenization.<\/p>\n<p>The Nervos Common Knowledge Base (CKB) network provides a Turing-complete virtual machine to support and process applications built using smart contracts using a high-performance second layer.<\/p>\n<p>Unlike Bitcoin, CKB&#8217;s Proof-of-Work (PoW) blockchain consensus engine can adjust mining difficulty in response to network conditions. Thus, throughput can be increased when nodes are well connected and reduced when the block orphan rate rises.<\/p>\n<p>This base-layer features a native utility token, CKByte (CKB), used for resource management and miner incentivization. Participants can also lock tokens in the Nervos DAO to receive compensation for their holdings.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/308b6ae8-488c-449e-9678-7a2f295df650.png\"><figcaption style=\"text-align: center;\"><em>Nervos (CKB) price at Huobi, USDT. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_listing_government_adoption_and_DeFi_growth_back_the_current_rally\"><\/span>Exchange listing, government adoption and DeFi growth back the current rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nervos made the headlines in August 2020 when it was integrated into China&#8217;s blockchain-based Service Network (BSN) and five other permissionless blockchains.<\/p>\n<p>In December 2020, Nervos achieved an important interoperability milestone when it launched a bridge between Ethereum and the CKB network to simplify cross-chain transactions. Shortly afterward, the project released its &#8220;universal passport&#8221;, which allows diverse-blockchain developers to program using a single interface.<\/p>\n<p>On Jan. 26, Binance listed CKB, and a couple of weeks later, Nervos Network launched a $5 million fund to support projects building decentralized exchanges, lending platforms, and other DeFi-style protocols.<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for CKB on March 27, before starting the rally.<\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements, and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/4aa60e85-8d50-454d-9c17-f53345747b26.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. CKB price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>The VORTECS\u2122 Score for CBK was in the green late in March and hit a high of 71 on March 29, roughly eight hours before the price began to increase by 33% over the next two days.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_proof_is_in_the_pudding\"><\/span>The proof is in the pudding<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nervos Network&#8217;s proposed layer-two Muta framework is still in beta testing. Supposedly, the Muta chains will use Nervos CKB at their base while enabling developers to build sidechains with distinct features, including Delegated Proof-of-Stake (DPoS) design.<\/p>\n<p>Seasoned investors will know that sometimes hype drives price over fundamentals and actually product delivery. While this analysis is not asserting that this is the case with Nervos Network, an official launch of Muta might reassure cautious investors. <\/p>\n<p>Considering that CKB rallied 341% in the last month to launch Nervos Network into the $1 billion market capitalization category, investors might consider waiting for its DeFi ecosystem to grow before adding positions.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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