Nebulas (NAS) is the new project of the founders of NEO with which they want to become the Google of blockchain. When the internet came out, Google solved the problem of finding the best one for your search among all those millions of websites. Nebulas now wants to solve this problem to find exactly the right one among all DApps. In this article we explain the potential of Nebulas, how you can buy Nebulas and what the current price is.
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- What is Nebulas?
- NAS features
- Team and advisors
- roadmap
- Popularity
- Criticism
- Suitable wallet for the coin
- Conclusion
- Buy nebulas
What is Nebulas (NAS)?
In the white paper, Nebulas states that their mission is to ” lead us to a better life with more freedom and equality “. For example, they want to completely eliminate public data. This means that superpowers such as Google, Amazon and Facebook can no longer benefit from our data alone. The Nebulas white paper is one of the most impressive white papers we’ve seen and is no less than 60 pages long. In the video below, CEO Hitters Xu gives a short speech about his great pride.
The search engine
Currently, there are hundreds of different DApps built on Ethereum. In addition, there are hundreds of other DApps based on NEO, Waves and Qtum, for example. It is expected that there may be tens to hundreds of thousands more. There are also a lot of extra platforms on which these can be built, such as EOS and Zilliqa. This can cause a huge problem if you’re looking for a specific app later on. For example, in the Apple Store you have Apple’s search function to easily find your app with their own way of ranking. We now have Google on the internet, but there is no solution yet for the DApps blockchain network. This is where Nebulas Rank (NR) comes into play.
Nebulas Rank
Where Google is the search engine for websites on the internet, Nebulas Rank wants to become this for DApps on the blockchain. In fact, this is an open-source algorithm. In other words, a piece of code that everyone can see. This algorithm ranks the DApps based on:
- The liquidity . They look at how many dollars are traded in the DApp on a day.
- The Distribution of Users . This looks at how many people use the DApp and how much it is talked about on social media.
- Interoperability . This is largely determined by the ease with which the DApp can communicate with other DApps.
The picture below shows how they envision this at Nebulas itself. If you’re not that technical or math savvy, this might look abacadabra.
Nebulas Force
Another revolutionary feature of the crypto project is Nebulas Force. The project started with a few basic protocols like NR, PoD and DIP. This may mean nothing to you, but the point is that these basic protocols can be upgraded automatically. This is a wonderful step for blockchain companies.
The bottom line is that Nebulas can evolve itself without the need for hard forks. We have already experienced with Bitcoin that a hard fork cannot always go smoothly. This kind of problem should not occur in the future with Nebulas. In addition, the community can easily develop in this way. With the help of votes they determine which upgrades will or will not be introduced and thus determine the direction that Nebulas will grow. The Nebulas Force essentially allows Nebulas to grow forever, making it a project with infinite potential.
Nebulas Cluster Polymorphous Evolution
In addition, the team behind the cryptocurrency is hard at work designing a forward-looking mechanism where various sidechains can be implemented. They can then verify the most important technical innovations before it is finally added to Nebulas. Think of a new consensus algorithm or a lightning network. In the image below you can get an idea of how they have set this up technically within the Nebulas Force.
Developer Incentive Protocol (DIP)
In addition, they have made it as interesting as possible for developers to develop for the platform. For this they have developed a reward system called Developer Incentive Protocol (DIP). In the second week that the mainnet was live, $ 250,000 in NAS rewards have already been offered to a total of 226 people. The main prize went to a game developer who developed a decentralized game called “Cell Evolution” within ten days. With this he won 10,000 NAS.
Meanwhile, 2100 DApps have already been developed on the platform in the first two months that the mainnet has been live. There are already more than on Ethereum(!). This is a very important feature of Nebulas, because normally the (crypto) platform that can attract the most and best developers is the one that will be the most successful. Examples include Apple and Microsoft.
Resume
In short, Nebulas consists of:
- Nebulas Rank (NR)
- Ranking DApps in a good way.
- Nebulas Force (NF)
- The possibility of infinite self-development.
- A search engine
- The ability to look up DApps ranked by NR.
- Developer Incentive Protocol (DIP)
- A reward system for developers, so that they are motivated to develop good applications.
The Token of Nebulas: NAS
The Nebulas token goes through life under the ticker name NAS. When the token first saw the light of day, it was still an ERC20 token. In the meantime, however, it has already grown into a coin with its own blockchain when the mainnet went live in May. The token is mainly used as:
- An ‘in-app’ currency or
- As a currency within the Nebulas economy.
The intention is to build an entire economy around Nebulas and its token, as Ethereum has done with Ether.
The team does indicate that it is possible that they will generate additional NAS in the future. They think it will be about 3% annually. However, it is impossible to say whether this will actually happen, because NAS owners would have to agree to this first.
Token Distribution
During its ICO in December, Nebulas raised $60 million. In the image below you can see how the NAS token distribution is.
- 35% reserved for the community.
- 30% sold during the private sale and ICO.
- 20% to advisors and partners.
- 10% for initial funding.
- 5% in the Nebulas fund.
|
NAS features |
|
|
Token symbol |
NAS |
|
Total number of tokens |
100 million |
|
Number of tokens in circulation |
45.5 million |
|
Price during ICO |
$2 |
|
token type |
ERC-20 (based on the Ethereum protocol) |
|
Hard cap sales of tokens |
$60 million |
|
Funds raised during ICO |
$60 million |
Team, advisors and partners
If you have the ambition to become the Google of the new economy, you must be able to support that with an all-star team. Nebulas certainly does not disappoint in this. The founders consist of almost exactly the same founders as NEO. Both the CEO (Hitters Xu) and COO (Aero Wang) also designed what was then called AntShares. They have a wealth of experience, especially considering how young the crypto world is. For example, Hitters Xu is a true blockchain pioneer in China. Back in 2013, he founded BitsClub, which is China’s very first blockchain community. In addition, he is the founder of ICO365 (one of the largest ICO platforms) and FBG Capital (one of the first crypto funds). You can find the entire team on their website via this link and below you will find the three most important names with their experience.
|
Name |
Position |
Experience |
|
Hitters Xu |
CEO |
|
|
Robin Zhong |
CTO |
|
|
Aero Wang |
COO |
|
Advisors
To give advice to an all-star team, you have to come from good homes. The advisors that Nebulas has are therefore not the least. They mainly have experience in collaborations with startups or corporates with innovative technologies such as AR, VR, Artificial Intelligence and machine learning. You can view the two most important names in the table below.
|
Name |
Experience |
|
Edith Yeung |
|
|
Chris McCann |
|
roadmap
The Nebulas roadmap started in June 2017. They managed to launch the mainnet within half a year without any delay. In the meantime, they are working hard on the further development of the platform.
V2.0 Nova Release
2018 Q4
-
- Nebulas Rank is added to all addresses.
- Implementation of the Developer Incentive Protocol (DIP).
Green Paper – NF
2019 Q2
No further statements have been made about this yet.
V3.0 Release
2019 Q4
-
- Deployment Nebulas Force.
- Transition to DoP.
Popularity and community
Nebulas is not yet very popular on social media. One of the biggest criticisms it receives is that they do too little marketing and provide too little support. This reproach came to life especially during the sharp fall of the crypto market in January 2018.
|
Popularity of Nebulas (July 2018) |
|
|
|
24k followers |
|
Telegram |
13k followers |
|
|
2k followers |
|
|
5.2k readers |
Criticism
As mentioned above, the biggest criticism Nebulas is currently receiving is that it is not very active on social media. Because crypto is decentralized and therefore belongs to everyone, the community is one of the most important parts of a project. Unfortunately, they don’t seem to realize this well enough at Nebulas, so many people lost confidence in it during the market crash.
Another point of criticism is the current way Nebulas Rank works. The criteria used for this are still centrally determined. This means that the project is not (yet) fully decentralized and there is still a chance of manipulation. They do state in their white paper that they are open to changing this in the future, but that does not mean that they will actually do it.
Conclusion
We are very impressed with Nebulas. It is perhaps one of the strongest teams in the crypto community and also the problem they want to solve is something that is in demand (in the future) in our view. In addition, it is one of the best white papers we have seen so far and the technology behind it is of a very high level. The only major drawback that can be mentioned is that they underestimate how important their own community is. No matter how good a project is, without a community you are nowhere in the crypto world. If they also get this on track, Nebulas can surprise us very positively.
How do I buy Nebulas?
Buying Nebulas on Bitvavo is a piece of cake. Within minutes and for less than a euro you can already be the proud owner of NAS.
- Register here for free at Bitvavo
- Verify yourself by clicking on your name in the top right corner and then go to ” Verification “.
- Transfer money via iDeal. You do this by clicking on ” Deposit Euros “.
- Then enter the amount and choose iDeal as payment option so that the money is in your Bitvavo account within a minute. Then click on “Pay”.
- If you click on ” Overview ” afterwards, you will see the money.
- Find NAS, click on it and then press “Buy”.
- Invest the amount you have in mind in NAS.
- Congratulations! You bought NAS!
Don’t forget to save your username and password
Sources
- Website
- White paper
- Coincentral
- GlobalCoinReport
