Ethereum and Bitcoin are evolving rapidly and they have successfully introduced P2P electronic cash System and Smart Contracts to the blockchain. With emerging business requirement and application scenarios, the industries continue to evolve. However, these platforms still face challenges like a measure of value, healthy ecosystem development and self-evolving capability. Nebulas is a cryptocurrency platform that aims to address the challenges that people face when using the cryptocurrency industry.
What is nebulas?
Nebulas is a decentralized search framework that has an aim to empower users to create their first blockchain search engine, search multi-type data in blockchain world, open-source value ranking algorithm and start with your familiar high-level languages. The project also offer user possibilities like, creating a blockchain project the gains the most traction, know the exchanges that move most volume and show all the prediction of smart contracts.
The whitepaper explains the principles and technical design of the Nebulas framework. The framework includes:
- Nebulas Force: the NF supports upgrading smart contracts and core protocol on the chains. It also provides self-evolving capabilities of Nebulas system and its applications. With NF, the developer can build rich applications that can dynamically adapt to the community or market changes.
- Nebulas Rank (NR): the NR measure the value of nebulous by considering propagation and liquidity of the address. The NR tries to establish a computable, deterministic and trustful measurement approach.
- Developer incentive protocol (DIP): DIP is designed to build a blockchain ecosystem in a better way. The token incentives help developers to create more values in Nebulas.
- Proof of Devotion (PoD) algorithm: nebulas propose key points from consensus algorithm in order to build a healthy ecosystem. They are speeding, irreversibility and fairness. By adopting the advantages of PoI and PoS and leveraging PoD, NR to take lead in consensus algorithms.
- Search engine for decentralized applications: The project has constructed a search engine for decentralized application based on its value ranking. The user can use the engine to find desired decentralized applications from massive markets.
The Nebulas platform was founded in June 2017. During the Q3 of 2017, the open source and technology whitepaper was available and in the Q4, 2017, Testnet online is set to be completed. The project plans to release v1.0 and mainnet online and Q1, 2018 and v2.0 and self-evolution function release by Q4, the same year.
It was founded by Hitters XU and former founding directive of Ant Financials blockchain Platform. Other co-founders of the platform include Aero Wang and Robin Zhong. Head of engineering is Duran Liu.