Nervos Network targets Nov. 16 for mainnet launch following its $72 million token sale

Smart contract platform Nervos Network ($CKB) is set to launch its mainnet on Nov. 16, following the close of its $72 million CoinList-hosted token sale. The three-week sale exceeded the project’s $67 million target and included investments from China Merchants Bank International (CMBI), Polychain Capital, Blockchain Capital, Hashkey, MultiCoin Capital, and Distributed Global.

Why it matters:

• Nervos Network strives to offer a scalable Proof-of-Work (PoW) network akin to the recently launched Kadena ($KDA) blockchain, though with some notable design differences. Both projects targeted PoW because it is the only proven security model for blockchain networks, whereas theattack costs and vectors associated with Proof-of-Stake (PoS) are more theoretical.
• Nervos’ CKByte (CKB) token supply represents the overall state size of the blockchain, and its issuance policy bounds state growth, enabling scarce storage resources to be priced and traded freely on the market. This design is meant to cap the disk space required by node operators to store the blockchain’s contents and limit state growth (i.e., “blockchain bloat”), an issue that is plaguing Ethereum ($ETH) in its current state.