Nebulas - The Google of Blockchain; A Decentralized Blockchain Search Framework for DApps
Resources: Website | GitHub | Medium | Whitepaper | Twitter | YouTube | CoinMarketCap
NAS Token
According to CoinMarketCap, Nebulas (NAS) is valued at around $7.82 per token and has a Market Cap of around $356 Million with a circulating supply of 45.5 Million Tokens and a max supply capped at 100 Million Tokens.
I think this project is very valuable, has A LOT of upside from here and can be a serious contender as a Top 10 project in 2019 with its ambitious goal to be like the Google of Blockchain. As you will see in the architecture of Nebulas (as described below), they are not just focused on creating a search framework for DApps but also creating a platform for DApps to run on without needing to fork (when requiring software updates - such as how Ethereum and Bitcoin have had to fork in the past). This solves challenges related to scalability and interoperability bringing blockchain, cryptocurrencies and DApps closer to the mainstream.
The Problem & the Need for Nebulas
(Text sourced directly from non-technical whitepaper)
The Nebulas team expects that around 2020, the global users of blockchains/digital assets shall reach or exceed 200 million, and around the year of 2025, this number is expected to reach 1 billion. Meanwhile, the blockchain also faces many challenges, such as the interaction of information on blockchains, protocol's upgrade, blockchain applications & smart contracts' effectiveness and relevance judgment, etc.
The problem of interaction of information on blockchains is actually caused by lack of interoperability among different blockchain networks.
Unlike common software version iterations connected with the rollout of software updates, upgrading a blockchain network protocol often triggers "hard forks" or "soft forks".
With the rapid growth of distributed applications (DApps), an efficient search engine for blockchain applications and smart contacts become one of blockchain’s biggest challenges. Now there are hundreds of DApps based on Ethereum. If one day the number of DApps on blockchains reaches the same scale of the App Store, it will be a big problem to search and find right DApps for users. From this point of view, the blockchain world lacks a measure for more dimensions of information and rank value, which will facilitate discovering the wonderland of blockchains for users.
Nebulas Framework
(Text sourced directly from website & technical whitepaper)
1. Nebulas Force (NF)
Nebulas Force (NF) provides the Nebulas blockchain & its distributed applications built on top, the capability to self evolve. With NF developers are able to make changes, incorporate new technologies, and fix bugs without needing to hard fork.
Nebulas Virtual Machine (NVM)
NVM is an important cornerstone of the Nebulas Force. When any new protocol code or smart contract is released, the LLVM bytecode is generated after the new code is complied by the LLVM compiler module in NVM and is released to the chain. After confirmed on chain, the new code will be complied and optimized by LLVM JIT (Just-in-Time), and then into the sandbox to replace the old code and be executed.
With LLVM, NVM also supports developers to develop smart contracts and applications with their familiar programming languages, such as Solidity, more flexible JavaScript, and even pure functions type of language Haskell. In addition to these popular languages, NVM can also provide customized high-level languages for different areas and scenarios, such as DSL (domain-specific language) for financial systems. These high-level languages are easier to be formally verified, further improving code robustness and security, and more conducive to the developers developing richer Smart contract and application.
2. Nebulas Rank (NR)
Core ranking algorithm which has been open sourced. The algorithm is based on liquidity, propagation of users' assets, and the interactivity between users. NR is used to rank addresses, smart contracts, distributed applications (DApps) and other entities on the blockchain.
3. Nebulas Incentive
Developer Incentive Program (DIP)
DIP is designed to develop the blockchain ecosystem in a better way. The Nebulas token will be provided as an incentive for the top developers on our platform - as measured by the Nebulas Ranking system. This will help reward the best applications and incentivize developers to build more value for themselves and Nebulas as a whole.
Proof of Devotion (PoD) Consensus Algorithm
To build a healthy ecosystem, Nebulas proposes three key points for the new consensus algorithm: speediness, irreversibility, and fairness.
4. Blockchain Search Engine
Nebulas constructs a new type of search engine for decentralized applications based on Nebulas ranking system. Using our engine, users will be able to find the most useful decentralized applications when they need it.
Key Team Members
Co-Founders of Nebulas
Hitters Xu | Past: Founder of AntShares, GemPay, BitsClub, FBG Capital & Ant Financial
Robin Zhong | Past: Architect of Ant Financial
Aero Wang | Past: Founder of AntShares
- The Team has heavy experience in the blockchain space in China and 2/3 founders were founders of AntShares (Now Known as NEO).
Advisory Board
Edith Yeung | Partner at 500 Startups
Chris McCann | Community Lead at Greylock Partners
Evan Cheng | Director of Engineering at Facebook
Nebulas Partners
Nebulas Roadmap
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STOPHi buddy
I've been away for past 3 weeks (short holiday) and finally im back :) Loads of catching up is awaiting me now.
I checked your profile and im glad to see that you're still very active on steemit.
How have you been doing?
Obviously upvoted.
Cheers buddy,
Piotr
@crypto.piotr
Hope you enjoyed your vacation :)
I have been somewhat active, although not as much as I should be. I see you have quickly rose up rep-wise in Steemit which is awesome dude!
I have been doing great! I am self-learning coding this summer, because I want to go into DApp development.
Good afternoon! I most recently on Steemit, like you. I decided that together we can achieve much and develop faster. Let's increase the power of Steemit together. I followed you hope and you follow me. Glad to new acquaintances! ;)
@tatyanablog Welcome to Steemit! I saw you like cryptocurrencies as well so we will get along just fine 🤗
It makes total sense to develop a search engine like this one. They should manage to get a good amount of users easily.
Well that is a huge blockchain now, these guys are coming strong again!
@dedicatedguy Agreed! I think the usecase goes hand in hand with this:
The DApp Market is growing really fast and I see distributed applications as the future. I think this project can really grow not just from this search functionality but also - you need to remember that they are building a blockchain themselves and they want Nebulas to be a self-evolving platform for DApps where they don't need to fork for major software updates.
I think it is tackling these important issues of usability ease & scalability which will bring crypto, DApps and blockchain technology to the masses and mainstream. This is why I see a bright future for NAS.
I agree, they founded NEO and now they are founding NAS now so you know they have really great experience. CEO Hitters Xu is really a heavy Hitter and has so much experience in tech and blockchain. I think this project is going to shape out really nicely with these team and feel confident keeping my money in this project!
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