Nervos Network (CKB), the native cryptocurrency of the eponymous layer 2 network on top of Bitcoin, leads the weekly rise of digital currencies within the top 100 by market capitalization.
The increase in the price of the asset occurs after its development team will announce the launch of the test network Fiber Network, a decentralized solution designed to provide speed and profitability on that network.
“Fiber Network is a cutting-edge solution for multi-token payments and peer-to-peer (P2P) transactions,” it said.
Since the launch was announced, the price of CKB has risen from $0.0083 to $0.01728. This is an increase of more than 83% in the last seven days.
The cryptocurrency is currently trading at $0.0154.
In this context, the project developers explained that Fiber Network It is inspired by the Lightning Network solution of Bitcoin.
As explained in Criptopedia (educational section of CriptoNoticias), Lightning Network is a decentralized network for instant and high-transaction volume micropayments that eliminates the risk of delegating the custody of funds to trusted third parties.
In this way, Fiber Network will allow transactions to be carried out outside the main chain, Greater speed and a significant reduction in transaction feesThe goal is to provide benefits to Nervos Network users.
They also explained that the implementation of this solution opens the door to interoperability with other networks, which could attract more users and developers to the platform.
Finally, they indicated that the possibility of connecting with other cryptocurrency ecosystems is a key aspect for the development of the industry. “Stay tuned for the upcoming launch of the Fiber Network test phase!” they said.
As CriptoNoticias reported, Nervos Network is a second layer on Bitcoin based on the RGB++ protocol. This network allows developers to create decentralized applications (dApps) to expand the variety of uses of Bitcoin.
The protocol facilitates interoperability with Bitcoin by mapping Bitcoin unspent transaction outputs (UTXOs) to Nervos CKB cells, using a mathematical technique called isomorphic joining.
