What is $NOCK?
Programmable sound money that scales.
$NOCK is the coin issued by the layer-1 Nockchain protocol. $NOCK pays for transaction settlement, execution, data storage, and temporary data availability on Nockchain.
As a digital asset, $NOCK features:
A fair launch with no pre-mine. Mining is permissionless and competitive. Fair Launch
A hard cap on issuance. Only 2³² nocks will ever exist. Each nock can be subdivided into 2¹⁶ nicks. Nocks are issued directly to miners as block rewards, then may be traded on markets. Hard Cap
An immutable supply schedule. $NOCK issuance takes place at each block to the miner who successfully solves the proof-of-work puzzle. The steep issuance curve incentivizes software optimization over hardware farming, driving fast commoditized execution. Issuance Schedule
The design of the digital infrastructure underlying $NOCK, Nockchain, aims to maintain a high velocity of money. One way to think of the design goal is the asset value being the monetary velocity times the scarcity—a hard asset coupled with high monetary velocity produces a high value.
$NOCK's soundness comes from the cypherpunk proof-of-work attitude of hard money and code-as-law. Its security results from its execution platform being formally mathematically verified. Its value comes from its hard-capped scarceness and the underlying proof network it incentivizes and enables. Specifically, $NOCK as a digital asset is secured by ZKPoW on Nockchain.
Unlike gas, $NOCK only pays for miner fees by transaction weight—there are no extra fees for onchain execution or making proofs. Transaction fees pay for on-chain storage, on-chain execution (which Nockchain keeps minimal), and temporary blob data storage.
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