Nebulas (NAS)

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Nebulas is the Google rankings of Blockchain. The project analyzes interactions between addresses and smart contacts and helps the users to determine the best available dapps.

Joke Name

Nebulas = App Ranking

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (NAS)

Coin or Token

Circulating Supply (45 Million)

Total Supply (100 Million)

Market Cap Ranking

Review

Nebulas is the Google rankings of Blockchain. The project analyzes interactions between addresses and smart contacts and helps the users to determine the best available dapps AKA decentralized applications. Or, as the Nebulas team puts it, they are going to “transform the blockchain data landscape from a state of disorganized chaos into one of ordered and discoverable value”.

Features

  • Value ranking
  • Self-evolving
  • Native Incentive

Value ranking

The team behind the project have implemented a unique algorithm they call the Nebulas Rank or simply NR that is based on liquidity, interactions between the users of a certain chain, and the propagation of their assets.

NR is used to rank three major elements of a blockchain:

  • Smart contracts
  • Dapps or decentralized apps
  • Blockchain entries

Self-evolving

Not much can be said here. The network is self-evolving as well as the dapps that are built on it. The team calls this technology the Nebulas Force but you are more likely used to the concept of scalability when less work and maintenance are needed after the product was live for a while. Why not use the term scalability then? Because it doesn’t sound as cool, duh.

Ok, jokes aside, a “self-evolving” network is an amazing solution as it prevents hard forking from the get-go.

Native Incentive

Native Incentive or NI is considered by Nebulas as the driving force of the blockchain revolution. It is composed of the Developer Incentive Protocol and the Proof of Development.

  • DIP is a mechanism that provides an instant feedback loop and helps the developers with design and updates of their dapps.
  • PoD is the system that rewards the users of the network with NAS – the Nebulas Token. The algorithms that determine how much of NAS is owed to a certain user are based on that user’s NR rank.

Project details

Nebulas was founded in Singapore in 2017 and was considered by many as the Google of Blockchain ever since. So much so, it is ranking insanely high in China’s Rating of Blockchains where it stands in the top 3 alongside such projects as EOS and Ethereum.

Usage

According to the stats, a whopping 6.900+ dapps were already built on existing blockchains making navigation through them a chaos for users, investors and analysts alike.

Nebulas chose to capitalize on this fact too much success with their initiative that distributed over 450,000 tokens between 1.472 developers who chose to use the blockchain for ranking of their applications.

That being said, the team has hoped for a larger success and its investors as well as the holders of the token are still uncertain of the currency’s bright future.

The press

Nebulas has generated quite the buzz in all the right places. Their project was featured on AMB Crypto, Coindesk, CNN, Business Insider and in other recognizable media. This buzz should keep the hype on the right track. At least for now.

Conclusion

The idea, while not being a novelty, solves a lot of pains that the blockchain industry is facing right now. The chaos caused by the widespread of a concept as new as it is definitely doing more harm than good today. That being said, stating that you are the Google of blockchain and actually being one are two separate things with one completely unreeling of the other.

Nebulas shows that it can pull off something as complex if we were to speak technology alone. The support is now has on the Eastern markets only proves this point. Thus, while still not there, the project is an interesting investment opportunity with a time limit where, if you’ll choose not to invest today, you will either lose a lot of potential profits in a year or two or there won’t be anything to invest in by then.

Pros

  • Listed on lots of exchanges
  • Complex but working
  • Solves current issues

Cons

  • No backing (asset, profits, commodity)
  • Limited support