Nervos Network (CKB) is a modular Blockchain network built on the secure and adaptable Layer 1 Common Knowledge Base (CKB). CKB supports all cryptographic principles, ensuring interoperability with various Blockchains and Layer 2 networks, allowing developers to create dApps. The CKByte (CKB) token serves multiple purposes such as resource management, miner incentives, and state storage allocation, contributing to the security and functionality of the Nervos ecosystem. In this article, you can find answers to two frequently asked questions: what is Nervos Network (CKB) and how to buy Nervos Network (CKB) with TRY.
What is Nervos Network (CKB)?
Nervos Network stands out in the Blockchain world with its modular design focusing on the secure and adaptable Layer 1 known as the Common Knowledge Base (CKB). Launched in 2018, Nervos aims to address scalability issues plaguing existing Layer 1 networks, especially smart contract platforms. With its unique architecture, Nervos aims to meet the high-performance demands of enterprise use cases, offering a robust solution for both developers and businesses.
Nervos’ mainnet went live in November 2019, presenting a public Blockchain with a distinct two-layer infrastructure. The base layer or Layer 1 provides a secure foundation, while the high-performance application layer or Layer 2 enhances scalability and flexibility. This distinction allows Nervos to efficiently manage and support decentralized applications (dApps) and various Blockchain projects.
At the heart of Nervos is CKB, a general-purpose Proof of Work (PoW) Blockchain built on the Nervos Network, serving as a consensus engine for applications. CKB’s design supports all cryptographic primitives, ensuring interoperability with various Blockchains, sidechains, and Layer 2 networks. This flexibility allows developers to create dApps with protocol-level account abstraction, facilitating seamless interactions across different Blockchain environments.
CKByte (CKB) token is an integral part of the Nervos ecosystem. It serves multiple purposes, including resource management, miner incentives, and state storage allocation on the CKB Blockchain. Token holders can also lock their CKBytes in the Nervos DAO, a mechanism that allows them to earn compensation or “yield” on their deposits. This encourages participation and contributes to the network’s security and functionality.
Nervos developers are continuously working on a suite of protocols to enhance scalability and create an environment conducive to supporting a wide range of applications. By leveraging its modular design, Nervos offers a more efficient and scalable Blockchain solution compared to traditional monolithic architectures. This approach not only improves performance but also allows the network to adapt to the evolving needs of the Blockchain ecosystem.
How to Buy Nervos Network (CKB) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy Nervos Network (CKB). On Binance TR, where accounts can be created quickly, over 100 cryptocurrencies, including CKB, can be traded. To buy Nervos Network (CKB) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. You need to go to trbinance.com and proceed from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, an email/SMS verification will be conducted to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to complete the verification process from your phone or through Binance TR’s official website. Note that you will need your mobile phone even if you choose to verify your identity through the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on “Copy URL” to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue the verification process, first select the document type that suits you and proceed.
After selecting the document type, tap on the “Upload Front” option to continue. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload Back” option and take a photo of the back side of the document and upload it. Make sure that the images are clear and that the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then tap on the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible after the camera opens.
After completing all these steps correctly and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits from other banks can be made 24/7 up to 50,000 TL via FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can transfer money via wire transfer, EFT, or FAST. All you need to do now is transfer the amount you want to deposit into your Binance TR account using the information displayed on the bank’s page.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your wallet in your Binance TR account.
How to Buy CKB Coin with TL on Binance TR?
After depositing money, you can proceed to the TL to CKB coin purchase step by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the following page will open. From the search section on the right side of this page, type “CKB” and click on the CKB/TRY option from the results to go to the TL to CKB purchase page.
Now the following CKB trading page will open. On this page, in the red-marked area, you need to enter the price at which you want to buy CKB in the first box and the number of CKB you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy CKB” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users gain access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls supported by Binance’s core functionalities through Binance TR.
