South Korea’s Upbit to Launch Nervos (CKB) Today with KRW, BTC, and USDT Trading Pairs

Upbit, South Korea’s largest cryptocurrency exchange, has announced the launch of Nervos Network (CKB) on its platform. Starting today at 16:00, users will be able to trade Nervos in the KRW, BTC, and USDT markets. This new listing enables the trading of CKB with three primary pairs, which will improve the token’s flexibility and market depth.

The deposit for Nervos Network (CKB) will start another 3 hours after the announcement, while the transactions will begin at 17:00 on September 13. It is important for users to make sure when depositing that they are using the right CKB-Nervos Network and that transactions made through other unrecognized networks will not be accepted.

Nervos Network (CKB) Launches on Upbit with Order Execution Restrictions

In the first five minutes of trading, purchase limit orders, more specifically, the execution of certain types of buy limit orders, will be limited. Similarly, sale orders below 10% of the previous day’s closing price will also be regulated during this period. Market and reserved orders will be limited for about an hour after initiating trading.

Nervos Network was founded in 2018 as a layer 1 blockchain that targets problems in scalability and brings benefits toward a better ecosystem of digital assets. The Nervos Network has its own NC-MAX consensus algorithm, and it uses the Cell model, which is somewhat comparable to the UTXO model of Bitcoin. This design helps in the scalability and flexibility as it separates the creation of state from the validation of state.

The CKB token is a crucial part of the Nervos Network and can be used for transaction fees, staking in the DAO, and voting. This launch on Upbit is a good development for the Nervos Network, as it allows it to step further into the markets and encourage more market members.

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