Encryptopedia - Nebulas (NAS)

I. Overview

Founded in 2017 by Hitters Xu, Nebulas is an incentive-based and self-evolving blockchain system that is set to overcome the core challenges of blockchain technology that is rapidly evolving. The three main challenges that blockchain technology faces are, establishing a measurement of value for applications on the blockchain, the ability to self-evolve and incorporate future advancements into the underlying blockchain and the development of a healthy long term ecosystem for blockchain users.

II. Technical Specifications

Name: Nebulas

Ticker: NAS

Algorithm: ERC20

Total Supply: 100 million (July 31st 2018)

Current Supply: 45.5 million (July 31st 2018)

Protocol: N/A

Market Cap All Time High: 563 million (Jan 10th 2018)

Exchange: Binance, OKEx, Huobi, Gate.io, LBank, Allcoin, BCEX, Neraex, EtherDelta

III. Fundamental Specifications

Nebulas consist of three main principles that work together for a continuously improving ecosystem. The three main principles are value ranking that measures the value for every unit in the blockchain, self-evolving that enables Nebulas to respond to new demands without forks, and native incentive that rewards devoted Nebulas developers and virtuous users. As stated above, Nebulas was created to overcome the core challenges of blockchain technology which the Nebulas team plans to fulfill via the extensive Nebulas framework.

The Nebulas framework consist of Nebulas Rank (NR), Nebulas Force (NF), Developer Incentive Protocol (DIP), Proof of Devotion (PoD) Consensus Algorithm, and search engine for decentralized applications. Nebulas Rank (NR) evaluates applications by considering liquidity and the propagation of addresses and contracts used in applications on the Nebulas platform, hoping to see more applications with real usage on the Nebulas platform. Being that the Nebulas algorithm is open sourced, Nebulas Force (NF) is able to support the upgrading of core protocols and smart contracts directly on the main chains. Hence, developers are able to get incentives via the Developer Incentive Protocol (DIP) according to their Nebulas Rank (NR) and Nebulas Force (NF). The Developer Incentive Protocol (DIP) mainly functions to build a sustainable and better ecosystem. In addition, the Proof of Devotion (PoD) Consensus Algorithm works hand-in-hand with the incentive protocol to develop a healthy and growing ecosystem by proposing three key points, speediness, irreversibility, and fairness. Lastly, being that Nebulas founder Hitters Xu was a part of Google, the Nebulas platform also has a search engine but unlike Google this search engine is solely for decentralized applications which is based on the Nebulas ranking system.

IV. Coin Index