Nebulas is a next-generation public blockchain, aiming for a continuously improving ecosystem. Based on its blockchain valuation mechanism, Nebulas proposes future-oriented incentive and consensus systems, and the ability to self-evolve without forking.
Problems & Solutions
Bitcoin and Ethereum successfully introduced both the “Peer-to-Peer Electronic Cash System” and “Smart Contract” to blockchains. The industry is evolving rapidly, with emerging applications and requirements, however for current blockchain technologies, we find there are three core challenges: establishing a measurement of value for applications on the blockchain, the ability to self-evolve & incorporate future advancements into the underlying blockchain itself, and a healthy long term ecosystem for all participants within the blockchain ecosystem.
Nebulas aims to address these challenges. Since Ethereum is a successful public blockchain platform with an ecosystem of massive scale, Nebulas hopes to learn from Ethereum’s excellent design, and make our smart contracts fully compatible with it, so that Ethereum-based applications can run on Nebulas with zero migration cost.
Features & Highlights
- Nebulas Rank (NR): It is an open source ranking algorithm used to measure the influence of relationships among addresses, smart contracts, and distributed applications (DApps). It helps users utilize information within the ever-increasing amount of data on all blockchains, but it also helps developers to use our search framework directly in their own applications.
- Nebulas Force (NF): A series of basic protocols such as the NR, the PoD, and the DIP shall become a part of the blockchain data. With the growth of data on Nebulas, these basic protocols will be upgraded, which will avoid fractures between developers and community, as well as a “fork”. We call this fundamental capability of our blockchain “Nebulas Force” (NF).
- Nebulas Incentive (NI)
- Proof-of-Devotion (PoD): Based on the Nebulas’ NR system, the team shall adopt the PoD (Proof-of-Devotion) consensus algorithm. PoD gives an “influential” user of the Nebulas blockchain an opportunity to become a bookkeeper and receive Nebulas’ block rewards and transactional fees as revenue, which will in turn encourage them to continuously contribute to the stability and security of Nebulas.
- Developer Incentive Protocol (DIP): On Nebulas, the team proposed the concept of DIP (Developer Incentive Protocol) for developers of smart contracts and DApps. DIP’s core concept: in the interval of pre-specified blocks, for those developers whose smart contracts and DApps were deployed online during the most recent interval, with a NR value higher than a specified threshold, DIP shall reward them the corresponding developer incentives (NAS token), and these incentives shall be recorded on blocks by bookkeepers. With the DIP’s positive incentive mechanism, more and more developers will get incentives to create valuable smart contracts and DApps, which will help to build a positive feedback ecosystem for the developer community.
Token Sale & Economics
- Project website: https://nebulas.io/
- Project whitepaper: https://nebulas.io/docs/NebulasTechnicalWhitepaper.pdf
- Token sale start time: Dec 2017
- Ticker: NAS
- Token type: ERC-20
- Total hard cap: $60,000,000
- Total supply: 100,000,000 NAS
Token Utility & Use Cases
The Nebulas network has its own built-in token, NAS. NAS plays two roles in the network. First, as the original money in the network, NAS provides asset liquidity among users, and functions as the incentive token for PoD bookkeepers and DIP. Second, NAS will be charged as the calculation fee for running smart contracts. The minimum unit of NAS is 10−18 NAS.
Roadmap & Updates
- Jan 2019
- Nebulas Forum launched
- Testnet Developer Incentive Program launched
- Mar 2019
- Go.nebulas launched
- Apr 2019
- Orange paper - Nebulas Governance
- May 2019
- The first Nebulas on-chain voting for Arthur proposal and Gas proposal was approved.
- Nebulas NOVA updated, smart on-chain governance started.
- First NAT on-chain Voting
- July 2019
- Nebulas Foundation was formed
- nextDAO.io launched. Redefining the token economy
- Sept 2019
- The consensus updated
- Oct 2019
- Mainnet Decentralization. Have the community operate bookkeeping nodes
- Nov 2019
- Nebulas Force (NF) released
- June 2020
- Proof of Devotion (PoD) released
- Achieve initial version of the autonomous metanet
Hitters Xu, Foundation Chairman. Founder & CEO of Nebulas, a blockchain pioneer in China, the former Director of Ant Financial's Blockchain Platform (Alibaba’s financial arm) and part of Google's Search & Anti-Fraud team. Since 2013, Hitters has founded BitsClub (the very first Blockchain/Bitcoin community in China), ICO365 (one of the largest ICO platforms), FBG Capital (one of the earliest Crypto funds), and AntShares (NEO). Linkedin.
Becky Lu, Council Member. The Nebulas Strategy Director. 8 years of digital marketing and advertising experience, 5 years big data marketing and operation experience. Former product manager in ganji.com, one of the largest Chinese online marketplace. Master's Degree in Money, Banking and Finance, Economics, from the University of Sheffield. Linkedin.
Zhuoer Wang, Council Member. Ecosystem Developing Director of Nebulas, responsible for the ecological development, cooperation and landing. Ph.D. dropout from UC San Diego focused on the operating system and system reliability, got a Master's degree in computer science from Tsinghua University, interested in parallel computing and distributed systems. He won the first prize in the NOI Informatics Competition and participated in the performance evaluation of several Chinese supercomputers. Linkedin.
Iris Li, Council Member. Product Director. Nebulas Interim Technical Committee member. Information Architect, focus on Human-computer Interaction, former Product Manager of Tao. Graduated from Tongji University in Computer Science and Technology. Linkedin.
Larry Wang, Council Member. Core Developer, Full Stack Developer, former Senior Developer of Alibaba. Graduated from China University of Geosciences of Science and Technology. Linkedin.
Renyuan Huang, Council Member. Legal Counsel for Nebulas, Shanghai Jiuze Law Firm. Has 7 years experience in the legal industry with 3 years experience in legal counseling for the blockchain industry. He has worked in Shanghai Construction Engineering and Shanghai Bangxinyang Zhongjian Zhonghui Law Firm. He has experience in numerous industries including investment, finance, real estate, education, medical industry, Internet business director, corporate, commercial and tax law.