Applications
Settlement, execution, data storage, data availability.
$NOCK is a sound digital asset—programmable money. Nocks may be acquired through mining or markets. Nocks are then held as a store of value or used to pay miners to include transactions in blocks on Nockchain. Through the incentives of ZKPoW, $NOCK enables a world in which scalable off-chain apps post data and proofs on-chain for cheap, secure settlement.
$NOCK starts as a neutral store of value, then scales as a medium of exchange and becomes more useful for application developers over time. As with a conventional blockchain, transaction creators set fees and miners receive those fees when they incorporate the transaction into a mined block successfully.
What is Nockchain?$NOCK is not gas or a utility coin for making proofs on-chain. It pays for settlement, execution, data storage, and temporary data availability. As with a conventional blockchain, transaction creators set fees and miners receive those fees when they incorporate the transaction into a mined block successfully. Users pay miners fees by transaction weight like Bitcoin, with said TX fees paying for on-chain storage, on-chain execution (which Nockchain keeps minimal), and temporary blob data storage.
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