Nebulas is an incentive-based, self-evolving blockchain system with “a decentralized platform which provides a search framework for all blockchains.” Founded in 2017, the Singapore-based Nebulas IO Foundation’s project highlights include a search engine and up-gradable smart contract capabilities – things not currently feasible on Ethereum.
Many in the crypto community are referring to Nebulas as “the new Google”. While the two are similar in a sense, they hold different use cases. Google is intended for day to day internet information searches, while Nebulas focuses on searches among decentralized applications (DApps), smart contracts, and user’s blockchain assets.
According to its whitepaper , Nebulas’s mission is to “lead us to a better life with a higher level of freedom and equality”. The team hopes that its blockchain technology will help facilitate the turning of public data into private data, eliminating the chances of large corporations like Google, Amazon, and Facebook from analyzing/profiting from said data.
Key Features of Nebulas
- Nebulas Rank (NR): It sets up a universal blockchain measure of value. For example, you’ll be able to check the highest rated DApps and make better judgments.
- Nebulas Force (NF): Developer friendly solution that supports protocols/smart contracts flexibility. This helps the blockchain adapt to market demands and stops “forking” from occurring.
- Developer Incentive Protocol (DIP)/ Proof of Devotion (PoD): System to award developers with NAS for their contributions. It supports fairness and the best interests of these developers.
- Search Engine: It helps users find desired data (such as decentralized applications & smart contracts) in a massive market.
- Lightning Network Wallet: Essentially atomic swaps. You’ll be able to “swap” your NAS for any lightning network enabled coin.
How Does Nebulas Work?
“Nebulas is being built on a decentralized search framework with open-source algorithms, verifiable computing, and distributed data stores.” Its whitepaper is over 60 pages long and has an abundance of technical data that seems unfeasible to cover in a beginner’s guide. That being said, the Nebulas website’s simplified technology section addresses the three core features of its tech.
- Nebulas Rank (NR): Open source, core ranking algorithm based on “liquidity, propagation of users’ assets, and the interactivity between users.” NR will help rank various entities (e.g. smart contracts, addresses, DApps.)
- Nebulas Force (NF): “Nebulas Force (NF) provides the Nebulas blockchain & its distributed applications built on top, the capability to self-evolve” With NF, developers can update the protocol, preventing divides in the community from hard forks.
- Developer Incentive Protocol (DIP): Positive feedback loop in place to motivate DApp creation.
Nebulas’s official website shows an international team of 14 core members, including Hitters Xu, founder and CEO of Nebulas (who also happens to be the founder of AntShares, now known as NEO). Xu is considered a pioneer in the blockchain industry, founding BitsClub (the very first Blockchain/Bitcoin community in China) in 2013 as well as popular ICO platform ICO 365. He also founded the crypto funds firm, FBG capital. On top of that, he directed an Alibaba financial arm (Ant Financial’s Blockchain Platform) and aided Google’s Search & Anti-Fraud team.
Co-founders Robin Zhong and Aero Wang bring years of blockchain expertise to Nebulas as well. Highlights in Zhong’s resume include him being an original architect of Ant Financial’s Blockchain Platform and the founder of Chinas first blockchain support platform, Tongxinclub.
Wang co-founded Antshares (NEO) with Xu and is an influential entrepreneur in the blockchain industry. The teams head of engineering, Duran Liu, is a former senior software engineer at both Google and FreeWheel and a former software engineer at IBM.
The three advisors (Edith Yeung, Chris McCann, and Evan Cheng) to the project are also influential members of the business/blockchain communities. Yeung is an avid tech investor, a partner at 500 Startups, and has been featured in Inc’s Magazine article “The Silicon Valley Investors You Need to Know in 2016”.
McCann established the community program at Greylock Partners (investors in Coinbase, FB, Airbnb, Linkedin, etc). Moreover, McCann was an early advisor for the Thiel Fellowship at Stanford University and was a co-founder of StartupDigest.
Last but not least, Cheng is an engineering director at Facebook with a prior 10-year development career at Apple. He’s received the ACM Software System Award for his contributions to computer science. These are just a few highlights of the overall Nebulas team. For further details on the project’s employee base, check out their official team page.
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