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Nebulas (blockchain platform)

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Nebulas
The Nebulas Project's logo
The Nebulas Project's logo
Initial releaseJune 2017
Repository
Written inGo
Engine
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Operating systemClients available for Linux, macOS
Platformx86-64
TypeDecentralized computing, Blockchain, Cryptocurrency
LicenseLGPLv3[1]
Website{{#property:P856}}

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.[2][3][4][5]

It is an alternative for the Ethereum platform, and adds additional features to those provided by it, such as Nebulas Rank[6][3], the concept of Proof of Devotion, the Developer Incentive Protocol, and the elimination of the need for hard forks on upgrades to its core.[7][8]

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.[9][10]

Features[edit | edit source]

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.[11][12]

Nebulas Rank[edit | edit source]

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.[11]

Proof of Devotion[edit | edit source]

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.[11]

Developer Incentive Protocol[edit | edit source]

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.[11]

NAS Token[edit | edit source]

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.[11]

References[edit | edit source]

  1. "Go Nebulas GitHub repository". 27 March 2019.
  2. Y, Alex (2018-01-21). "What Is Nebulas (NAS)? Should I Invest in Nebulas?". MYF. Retrieved 9 March 2019.
  3. 3.0 3.1 Walters, Steve (June 11, 2018). "Review of Nebulas (NAS): Making the Internet Decentralised". Coin Bureau. Retrieved 9 March 2019.
  4. "What is Nebulas (NAS)? A Beginner's Guide". The Bitcoin News. Feb 1, 2018. Retrieved 9 March 2019.
  5. Guo, Owen (Jun 6, 2018). "These ex-Ant Financial execs are building a Google for the blockchain world". Retrieved 9 March 2019.
  6. "Nebulas (NAS) – Is this the next Google?". Crypto Recorder. 2018-06-13. Retrieved 9 March 2019.
  7. "Nebulas (NAS): The New Ethereum (ETH) Killer". Global Coin Report. Retrieved 9 March 2019.
  8. "No More Hard Forks in Next-Generation Blockchain?". 2017-12-20. Retrieved 9 March 2019.
  9. Roh, Chelsea (July 25, 2018). "EOS, Ethereum, and Nebulas Reign Supreme in China's 3rd Set of Blockchain Ratings". Retrieved 9 March 2019.
  10. "The 3 most promising public blockchain projects from China for 2018". Hacker Noon. January 20, 2018. Retrieved 9 March 2019.
  11. 11.0 11.1 11.2 11.3 11.4 Dale, Oliver (February 9, 2018). "Beginner's Guide to Nebulas". Blockonomi. Retrieved 9 March 2019.
  12. Watson, Eduard (July 1, 2018). "Nebulas (NAS) Blockchain Signed New Partnerships and Made New Improvements". Oracle Times. Retrieved 9 March 2019.

External links[edit | edit source]


This article "Nebulas (blockchain platform)" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Nebulas (blockchain platform). Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.


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