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Past ICO Review: Nebulas Not as Cloudy as Appears

Thu, 05/10/2018 - 13:21
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Eric Eissler
Search engine for Blockchains? It will be needed soon to find the right Dapps
Past ICO Review: Nebulas Not as Cloudy as Appears
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The token sale for Nebulas ended on Dec. 16, 2017, and it raised some $60 mln. It currently has a market cap of $345.5 mln and the token price is increasing in value since the ICO. The token debuted before the official ICO and it was trading at $4.58 when it entered the market in August 2017. At the time of writing, it was sitting at $9.71 per token, a 112-percent gain!

Nebulous Blockchain searches- no more!

One of the main problems that Nebulas tries to solve is searching for relevant decentralized applications (Dapps). As Dapps become more and more prevalent, being able to find the right Dapp to meet your needs will be harder and harder. That is why the value ranking will be vital in sorting Dapps. It will be akin to page rankings on a search engine, but for Blockchains and Dapps instead.


No forks at this table

The elimination of hard forks or fundamental programming codes changes that affects how the Blockchain functions. In the past year, there have been countless hard forks that have created new cryptocurrencies, and thusly, “parent-child” rivalries, such as the most notorious case, Bitcoin and it’s hard fork of Bitcoin Cash.

The latter, supporters like Roger Ver say, is the original Bitcoin! Without the hard forks, it makes it easier to manage a Blockchain and its nodes, the originator of the programming code, does not have to worry about miners and coders going rogue and splitting up the Blockchain. The idea behind the no forking is that the system should upgrade over longer periods of natural changes to the protocols and policies.

3 Pillars of Nebulas

The following are descriptions, taken from the website, of the three core technologies that will allow Nebulas to develop continuously and naturally.

  • Value Ranking: Nebulas Rank (NR) provides a measure of value for every unit in the Blockchain. It is the core ranking algorithm and was open sourced. The algorithm is based on liquidity, propagation of users' assets, and the interactivity between users. NR is used to rank addresses, smart contracts, Dapps and other entities on the Blockchain.

  • Self-evolving: Nebulas Force (NF) enables Nebulas to respond to new demands without forks. It provides the Nebulas Blockchain and its distributed applications built on top, the capability to self-evolve. In this way, developers are able to make changes, incorporate new technologies, and fix bugs without needing to hard fork.

  • Native Incentive: Nebulas Incentive (NI) rewards devoted Nebulas developers and virtuous users. Incentives are the driving force of Blockchain evolution. The Nebulas Incentive includes Developer Incentive Protocol (DIP) and Proof of Devotion (PoD).


Development team

The China-based team behind Nebulas has some developers who are responsible for creating Antshares or what is now known as NEO.

Hitters Xu- Founder and CEO of Nebulas, Founder of AntShares, now known as NEO, a Blockchain pioneer in China, the former Director of Ant Financial's Blockchain Platform, Alibaba’s financial branch and part of Google's Search & Anti-Fraud team.

Robin Zhong- Nebulas co-founder, former architect of Ant Financial's Blockchain Platform, former Senior Development Director of Dolphin Browser, Leader of Game Division.

Aero Wang- Nebulas and NEO co-founder, initiator of OpenIP and IP Community, a serial entrepreneur in Blockchain industry.

With a strong development team, mission, vision, $60 mln raised, and most importantly an actual purpose, Nebulas has some strong potential.


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About the author

Eric Eissler is based in Chicago and works in higher-education administration and finance. He is a freelance writer covering blockchain technology, fintech, cryptocurrency, the oil and gas industry, and international politics.