The web years back is in a state where the blockchain is today; you can liken it to a hall of shelves with no directions, or a book without an index page. Searching through such a hall for a book you need would be extremely difficult, likewise looking through a book for a particular section you don’t know what page to find it.
Well, that was the way the web we are conversant with today started. And unless someone gave you a link, you might never discover such a resource on the internet existed. All that continued until the development of search engines which can go through every document/component of the web and give a brief description of what it is or what you will find going through such resource.
Same holds true for the state of the blockchain technology today. As the blockchain grows, it becomes more difficult to know what decentralized application (dApp), smart contracts, etc. were built on what blockchain protocol and their functions. We may not see the need for this now, but what if technologies being created on the blockchain grows from a few thousands we have today to millions and even billions? You probably will never come across some projects.
Hitters Xu, the founder of NEO (formerly Ant shares), and has previous experiences working with Google Search and the Anti-Fraud team is now pioneering the 3G of blockchain innovation; Nebulas.
Nebulas is the solution to problems identified above. It’s not just going to be a service, but a will be a blockchain platform on its own where developers can also build better-decentralized applications.
Nebulas Rank (NR): This enables a universal ranking of different blockchain projects through specific criteria.
Nebulas Force (NF): This is a friendly solution for developers that allows flexibility of smart contracts and protocols.
Proof of Devotion (PoD) and Developer Incentive Protocol (DIP): It’s an opensource protocol which rewards network participants and developers with the blockchains’ native token, NAS.
Search Engine: This is the primary focus. It helps users find desired data about smart contracts, decentralized applications, and every other component of the blockchain.
Lightning Network enabled Wallet: This is very much similar to atomic swaps. You’ll be able to swap your Nebula tokens for any lightning networks allowed.
Nebulas token, with the coin symbol as NAS, is the token for the Nebulas platform and also acts as a store of value. NAS tokens will be used as incentives to developers and bookkeepers on the Nebulas blockchain. It’s also used in the development of decentralized applications. Smart contracts will be modified and upgraded using the NAS tokens. The NAS tokens also serve as gas to smart contracts running on the network.
Nebulas primary aims at becoming the first entry point for cryptocurrency coin users; being the first search engine for users of the blockchain world over. With a robust ranking system, Nebulas ranks smart contracts, distributed applications, and other components of the blockchain. Being connected to all blockchain platforms, it’s able to access projects based on propagation, liquidity, and interoperability.
With a self-evolving blockchain platform system that supports upgrading of core protocols and smart contracts, will prevent forks from the main blockchain, reducing the number of versions of the same project.
In the aspect of keeping fraudulent projects out of the way, Nebulas have developed its Proof of Devotion consensus algorithm. This is to filter the “Bad Guys” as they call it and enforces punishment on such to strengthen the algorithm.
The Nebulas platform is a search engine that helps users find components on the blockchain with ease. It is developed with a different algorithm that helps people navigate through the blockchain, what will typically be inaccessible to users that don’t understand what it is, making them realize what the blockchain is all about.
As blockchain projects evolve so there will always be a need for the Nebulas platform. It is also possible you get a good return on your investment. Nevertheless, as much as the project looks like a potential long-term benefit, it’s advisable to invest wisely and make sure you do proper research on projects you are investing.