Coinmarketcap is holding another token giveaway, this time for a project called Nervos. The Learn & Earn program on Coinmarketcap involves watching videos, reading about, and then answering a quiz about a new crypto project, participants are then rewarded with that project's token. They have already distributed tokens for many great new projects, some of which have gained a decent amount of value!
First, a little about the currently highlighted project.
Nervos is an open-source public blockchain ecosystem and collection of protocols, which attempts to solve the issues of scalability and interoperability. The foundational blockchain (layer 1) is called CKB which stands for Common Knowledge Base. It uses proof-of-work and serves as a store of value and trust for upper-level layers (layer 2). Scaling is achieved through side chains and state channels. This aims to reduce transaction fees, and increase the total number of transactions, something that is currently a major limitation of Bitcoin and Etherium.
CKB's function is asset storage and arbitration for upper level layers. It is optimized to allow for infinite possibilities in building level 2 protocols. It allows for smart contracts written in a variety of programming languages. It also allows for deployment of virtual machines, code libraries and new cryptography.
The native token CKByte ($CKB), is the common currency for interacting between the side chains. It has two important uses for holders. It works as a store of value, giving the holder access to storage on the blockchain, it is decentralized, sustainable and highly secure and resistant to censorship. The CKB DOW allows users to lock their tokens to protect themselves from token dilution through inflation, where their stake will grow in proportion to inflation.
How to participate in the giveaway.
First make sure you have an account on https://coinmarketcap.com
You will need the e-mail associated with your account to join the giveaway.
You also need a Binance account, as this is where your reward will be deposited. If you don't currently have a Binance account, please consider registering with my referral code - ZHVTL6I6 to get 10% off your trading fees.
Next, navigate to the Learn & Earn site https://coinmarketcap.com/earn/project/nervos-network
Here you can watch 3 short videos to learn more about the Nervos project, then start the short quiz.
Total supply - 31,139,773,874 (check the provided link in the quiz as this will fluctuate)
Full name of Layer 1 Blockchain - Common Knowledge Base
Consesus mechanism - Proof-of-work
3 features of Nervos Blockchain - open-source, permissionless, proof-of-work secured
Built for optimal - layer 2 development and scaling
Nervos native token - The CKByte
Nervos native token is used for - All of the above
Nervos DAO acts as.. - an inflation shelter
I hope you found my post useful, any feedback or comments are greatly appreciated. As always, thank you for reading, and remember to enjoy the good things in life!