As the blockchain industry grows, and with increasing developments and heavy investments, blockchains are facing problems such as lack of interoperability, protocol upgrade, cross-interaction and more… Nebulas is here to solve all these issues.
What is Nebulas?
Nebulas has been described as a decentralized self-evolving blockchain system that uses a value-based incentive protocol. It functions as a blockchain search engine and a platform for the development of DApps. The platform seeks to create an ecosystem that benefits developers by implementing a positive feedback mechanism. One of the aims of the project is to create a universal measure of value for users as well as smart contracts so as to enhance the blockchain functionality.
Nebulas was founded by Hitters Xu and Robin Zhong in 2017. Xu is a former employee at Google and worked in their Anti-Fraud team. He is also one of the pioneers of blockchain in China. He has contributed greatly to the field of blockchain. Zhong, on the other hand, is a blockchain expert developer who has a wealth of experience in R&D. Another member of the development team Guan Wang, a serial blockchain entrepreneur also brought his skills and experience to building Nebulas.
At the core of Nebulas’s technological architecture is the Nebulas Rank (NR). This ranking algorithm is a pen-sourced measure of value that ranks different blockchain entities such as addresses, DApps, smart contracts and more based on interactions among users, circulation of assets and liquidity.
The system works using an algorithm called the Proof of Devotion (PoD) consensus. This concept offers users with high NR value the ability to function as a bookkeeper and earn block rewards. Devoted users on the blockchain are recognized by the protocol and takes a security deposit to offer them this role. Compensation is made in the form of block rewards and transaction fee.
Nebulas uses the Developer Incentive Protocol (DIP) which is also known as Nebulas incentive to facilitate creation of DApps and smart contracts on its platform. With regards this protocol, developers that have smart contracts and DApps that are worth more than a particular NR value get incentives to make more contributions.
There is a Nebulas Wormhole feature, which the platform uses to enables users to use of side chains while simultaneously using the blockchain. This interoperability allows users to share data and assets across side chains. This ensures the Nebulas blockchain is able to offer greater scalability.
Nebulas Force (NF) provides Nebulas’ self evolving characteristic. Under NF, all the basic protocols upgrade themselves. Developers are through NF able to integrate new technologies and remove bugs without hard forks. NF works through the community in deciding the direction and blockchain upgrade objectives.
Nebulas will be Listed on Atomars
Nebulas (NAS) has announced that it will be listed on Atomars on the 6th of December and trading pairs will be: NAS/BTC and NAS/ETH.
Atomars is a new digital assets trading platform on the cryptocurrency marketplace that is currently bridging the gap between fiat and cryptocurrencies. The Atomars platform is a fast, safe, secure and user-friendly platform that seeks to make trading easy for everyone. You can find any of the major cryptos like Bitcoin, Ethereum, USDT, Litecoin, Dash and more on the platform. They have a web and mobile app which makes it easy and fun trading on the go.