According to Coincu, the Nervos Network's blockchain, CKB, is set to experience its first halving on November 19th. This event will reduce CKB's hard-capped base issuance rate by half, lowering the real inflation rate from 7.92% to 3.77%, making it one of the lowest among major Layer 1 blockchains. The base issuance will decrease from 4.2 billion to 2.1 billion CKB per year, while the uncapped secondary issuance, following a fixed emissions schedule, will remain unchanged at 1.344 billion CKB annually.
The secondary issuance aims to prevent excessive state growth and provide a predictable, long-term income source for CKB miners, independent of transaction volume. Inflation from secondary emissions only affects state occupiers, making CKB a disinflationary token for long-term holders. The Common Knowledge Base (CKB) is a powerful Layer 1 network that uses Proof-of-Work for consensus, a generalized UTXO model, and a RISC-V instruction set-based virtual machine for transactions and smart contract execution.
CKB's flexibility supports various scaling and application solutions built on top of it, while security through Proof-of-Work ensures a resilient, neutral, and permissionless global digital infrastructure. The network's novel accounting model, the Cell model, offers developers complete control over on-chain data structure and transaction authorization logic, making CKB accounts abstract by definition. Additionally, CKB's low-level virtual machine, CKB-VM, allows developers to deploy different signature and hashing algorithms without requiring hard forks.
The Nervos Network's design addresses the issue of state bloat by adopting a multi-layered architecture and tying state growth to the network's native token. This approach reduces on-chain storage requirements by pushing computation off-chain and restricting blockchain state growth through CKB issuance. State rent is implemented through narrowly targeted inflation, incentivizing responsible state management on-chain and providing a sustainable, predictable long-term income source for miners. As CKB approaches its first halving event, it stands as a symbol of innovation and long-term sustainability in the blockchain industry.
