Nebulas (blockchain platform)

Nebulas is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions, providing a decentralized virtual machine, the Nebulas Virtual Machine (NVM), which can execute scripts using an international network of public nodes; it also features a decentralized search framework that allows users to search for multi-type data in different blockchains.<ref name"managingyourfinance" /><ref name"coinbureau" /><ref name"thebitcoinnews" /><ref name"techinasia" />
It is an alternative for the Ethereum platform, and adds additional features to those provided by it, such as Nebulas Rank<ref name"cryptorecorder" /><ref name"coinbureau" />, the concept of Proof of Devotion, the Developer Incentive Protocol, and the elimination of the need for hard forks on upgrades to its core.<ref name"globalcoinreport" /><ref name"cointelegraph" />
Its native cryptocurrency is NAS, whose blockchain is generated by the Nebulas platform. NAS can be transferred between accounts and used to compensate participant mining nodes for computations performed.
The project was chosen as a top-ranked blockchain platform by the Global Public Chain Evaluation, held on June 20, 2018, under the Chinese Ministry of Industry and Information Technology's.<ref name"cryptoslate" /><ref name"hackernoon" />
Features
Nebulas introduces several new concepts such as a ranking system to measure the inherent value of blockchains and its data, a consensus algorithm, called Proof-of-Devotion and based on the ranking given to any Nebulas address by Nebulas Rank, and a so-called Developer Incentive Protocol, which rewards DApp developers automatically, based, again, on their valuation by Nebulas Rank.<ref name"blockonomi" /><ref name"oracletimes" />
Nebulas Rank
This feature is a core ranking algorithm that measures the value in any existent public blockchain, taking into account the interactivity between users, and the propagation and liquidity of those users' assets.<ref name="blockonomi" />
Proof of Devotion
It is a consensus algorithm that relies on the Nebulas Rank system. It pinpoints users within the Nebulas blockchain that are important enough for the ecosystem so as to become bookkeepers. Each bookkeeper earns block rewards and transaction fees, providing, thus, an incentive to contribute to the security and stability of the blockchain.<ref name="blockonomi" />
Developer Incentive Protocol
This protocol provides an automatized way to reward developers that creates apps based on Nebulas. To calculate eligibility and the reward amount, it makes use of the Nebulas Rank algorithm.<ref name="blockonomi" />
NAS Token
NAS is the cryptocurrency used by Nebulas to provide a way to pay for the use of the network and its resources, such as computing power to execute DApps. There is a fixed supply of 100 million NAS.<ref name="blockonomi" />

Main Menu

See Also

Main Menu