Today, Nervos Network is one of the more well-known crypto projects, aiming to facilitate flexibility in the world of crypto. The project’s team has far-reaching plans, which give the crypto investors a lot of faith in the CKB crypto. Hopefully, Nervos price predictions in this article will provide some interesting additional information for the people concerned.
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Nervos Network Fundamental Analysis
The Nervos Network is an open source public blockchain and a collection of protocols. The goal of the project is to create a sustainable path to a decentralized economy, and according to the founders, the way there lies in the ability of a network to adapt. The network was created to support on-chain state and off-chain computation. Its main goal is to provide developers with a way to build universal applications that will operate within multiple blockchain ecosystems.
The crypto economy on the Nervos network is separated into two levels: verification layer 1, which is considered as a trust root and a smart custodian, and a generation layer 2 that allows high-performance transactions and grants privacy.
The Nervos Common Knowledge Base is a public permissionless blockchain on layer 1, which is the basic layer of the whole network. It generates trust and transforms it to the upper layers and also provides public, secure, and censorship-resistant custody services for assets, identities, and other common knowledge created on the network.
The Nervos CKB is one of the first utility tokens. It can be used as a store of value and measure of payments like Bitcoin, but it can also be a value token behind smart contracts, for example, Ethereum. According to the official website, the token has more uses than Ethereum or Bitcoin.
The project is to be fully completed by 2024. Recently Nervos launched a cross-chain bridge to connect Ethereum and Cardano. In the future, the number of connected blockchains will be expanded.
Nervos Network Live Price Chart
The CKB was launched in November 2019 at the price of $0.0091. In March 2020 it dropped following the tendency of the market and other cryptos. At the beginning of 2021 CKB token price rallied together with other digital assets and reached its all-time high of $0.0441 on March 31. After that the value dropped to $0.0164 on April 23, but recovered less than in 3 weeks, becoming $0.0407.
In July when the whole crypto market was down, the token price fell to $0.0079, but after that following bullish trends started to rise. As for the CKB price prediction, most of the analysts consider bullish tendencies for the asset in the short term. It’s expected for Nervos CKB coin price to reach a maximum of $0.02 by the end of 2021.