It’s been a big week for cryptocurrency. Bitcoin surged past $13,000 and Ethereum hit a new all-time high. The crypto market is on fire and everyone is wondering which coin will be next to break out.
One coin that has been getting a lot of attention lately is Nervos Network’s native token, CKB. Here’s what you need to know about CKB and whether or not it will be listed on Coinbase.
What is CKB?
CKB is the native token of the Nervos Network, a Layer 1 blockchain that utilizes a hybrid Proof of Work (PoW) and Proof of Stake (PoS) consensus mechanism. The Nervos Network is designed to be a “store of value” blockchain that can scale to handle large amounts of transactions without sacrificing decentralization or security.
CKB has a few unique features that make it an interesting project. First, CKB uses “cell structures” which allow it to be highly scalable.
Second, CKB has a “common knowledge base” which allows it to be more secure than other blockchains. And lastly, CKB uses a “mining as staking” model which allows users to earn rewards for both securing the network and building applications on top of it.
Will CKB Be Listed on Coinbase?
This is the million dollar question. Coinbase has been very tight-lipped about which coins they are considering listing in the past, so it’s tough to say for sure if CKB will be added in the future.
However, there are a few factors that could make CKB a strong candidate for listing on Coinbase.
First, CKB has seen a lot of growth in 2020. The price of CKB has increased from $0.015 at the beginning of the year to its current price of $0.
40, representing a 2,700% increase. This kind of growth is sure to get Coinbase’s attention.
Second, Coinbase has expressed interest in adding more “store of value” assets to its platform in the past. In an interview with CNBC in 2019, Coinbase CEO Brian Armstrong said that the exchange was looking at adding assets like gold and real estate to its platform in addition to cryptocurrencies.
Given that CKB is designed to be a store of value blockchain, it would make sense for Coinbase to add it to its platform.
Lastly, Nervos Network co-founder Kevin Wang sits on Coinbase’s advisory board. This could give Nervos some inside information on what Coinbase is looking for in potential listings and make it more likely that CKB will be added in the future.
Only time will tell if CKB will be listed on Coinbase, but there are certainly some factors working in its favor. If you’re looking for exposure to the Nervos Network, you can currently purchase CKB on Binance or Huobi Global .