Nervous Network (CKB) price posts double-digit gain after Godwoken layer 2 launch

Due to the constant FUD of media outlets and lackadaisical interest by crypto investors, positive price movements during bear markets can be notoriously difficult to find.

Nervos Network (CKB), an open-blockchain protocol that allows universally accessible decentralized apps (DApps) to be flashed green, was one crypto that made it all the way green on June 12.

CKB saw a 50% increase in July according to Cointelegraph Markets Pro and TradingView. It rose from $0.0033 on June 30 and then fell to $0.005 per day on July 12.

CKB/USDT 4-hour chart. Source: TradingView

The launch of the Nervos Network’s layer-2 (L2) solution Godwoken and integration of Celer c-Bridge into the Godwoken protocol are three reasons for the Nervos Network’s positive gains. There was also the launch on the Nervos mainnet of a new nonfungible token.

Nervos launches a layer-2 solution

CKB’s recent price rally was triggered on June 29, when the protocol announced the launch of its L2 solution “Godwoken”, on the Nervos Network mainnet.

The announcement states that Godwoken, an Ethereum (ETH), Virtual Machine (EVM-compatible Optimistic Rollup), allows projects to build across different sectors to create and port DApps to Nervos Network.

EVM compatibility allows any project that is launched on Godwoken, to instantly be interoperable with other EVM chain. This can increase their reach and expand their user base.

Celer cBridge is integrated with Godwoken

The developers announced that Godwoken was now integrated with Celer cBridge in order to allow the bridging between certain assets between Nervos network and Ethereum network.

We are excited to announce integrations, and that @NervosNetwork now supports bridging between #ethereum and #Godwoken in a fast, secure, low-cost fashion! You are now able to bridge $USDT, $USDC, $ETH, $WBTC, and $DAI between @ethereum and #Godwoken in a fast, secure, and low-cost fashion!https://t.co/swiAJ2WZLa
CelerNetwork (@CelerNetwork), July 12, 2022

Celer announced that the first assets to bridge Godwoken and Ethereum were Tether (USDT), USD Coin, USDC, Ether, Wrapped Bitcoins (WBTC) and Dai (DAI).

Godwoken’s main selling feature is its ability to “enable developers to use Ethereum contracts while keeping transactions scaleable, fast, and low-cost.”

Similar: US trademark and Copyright Offices to Study IP Impact of NFTs

Nervos launches NFT Marketplace

Nervos Network has also been praised for the launch of Oblivion’s nonfungible token (NFT), which is available on the protocol’s mainnet.

Annnd we are live! Using @NervosNetwork mainnet? head over to https://t.co/U5gBEd5a3Q. There are some “test” NFTs. These are not for sale and do not offer any utility. They were created only to test functionality.
— Oblivion NFT Marketplace, Dead Games, Inc (@OblivionNft), July 9, 2022

Nonfungible tokens are still a buzzword despite a decline in NFT prices. There is still interest in blockchain adoption by traditional finance and business.

Nervos and its L2 solutions Godwoken welcomed several new decentralized financial platforms, including YokaiSwap (which deployed on Godwoken V1) and JioSwap, a cross-chain protocol.

com. You should do your research before making any investment or trading decision.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

Close Bitnami banner
Bitnami