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What is Nebulas (NAS)?
Future of NAS Cryptocurrency and know how to buy NAS

What is Nebulas?

#1 - Nebulas - The Basics

The blockchain industry is growing at an unprecedented rate. The future holds even greater prospects for the sector. However, despite so much development and heavy investments, blockchains continue to face problems like lack of interoperability, protocol upgrade, issues with cross-interaction of information, and more. This is where Nebulas comes to the rescue.

What is Nebulas?

  1. Nebulas is a self-evolving blockchain system that works on a value-based incentive protocol. It is a decentralized platform that functions as a search engine for blockchains as well as a means of production for decentralized apps (DApps).
  2. The platform employs a positive feedback mechanism to create a beneficial ecosystem for developers. It incentivizes the development of apps and smart contracts to facilitate more contributions within its network.
  3. At the same time, the project seeks to create a universal measure of value for both users and smart contracts in order to enhance the functionality of the existing blockchain ecosystem.

Nebulas Development

  1. Nebulas was launched in 2017, founded by Hitters Xu. Xu formerly worked in Google’s Search & Anti-Fraud team and is amongst China’s first blockchain pioneers. He has devotedly contributed to the field of the blockchain.
  2. Xu co-founded Nebulas with Robin Zhong. zhong is a blockchain expert developer with experience in R&D sectors. Xu also teamed with Guan Wang, a serial entrepreneur in the field of the blockchain, to build Nebulas.

 

#2 - What are the benefits of Nebulas?

Nebulas Technology

  1. At the core of Nebulas’s technological architecture is its ranking algorithm, called Nebulas Rank (NR). NR is a pen-sourced measure of value. The algorithm ranks different blockchain entities like addresses, DApps, smart contracts, and more, based on users’ interaction, circulation of assets, and liquidity. Its three main dimensions are as follows:
    1. - Liquidity: The frequency and scale of transactions optimize activity on the platform and strengthen the value of assets.
    2. - Propagation: The depth of asset liquidity depends on its circulation across the platform. Viral transmission of an asset increases the scope of its liquidity.
    3. - Interoperability: With the increase in the number of information portals on the internet, the data on users, DApps, smart contracts, etc. becomes inter-dimensional. Interoperability is, therefore, important for the exchange of information on multiple platforms.
  2. The team has detailed the Nebula Rank concept in its Yellow Paper. The ranking system is further divided into two parts:
  3. - Core Nebulas Rank: It measures the degree of access and the median value of assets of an account over a period of time.
  4. - Extended Nebulas Rank: It helps in data collection from multiple platforms to run various applications on Nebulas.
  5. The system works on the Proof of Devotion (PoD) consensus algorithm. Its concept is to offer users with high NR value the opportunity to function as a bookkeeper and earn block rewards. The protocol will recognize devoted users on the blockchain and offer them this role in exchange for a security deposit. They are compensated in terms of block rewards and transaction fee.
  6. Nebulas employs the Developer Incentive Protocol (DIP), also known as Nebulas Incentive, to facilitate the creation of DApps and smart contracts on its platform. As per this protocol, the developers with smart contracts and DApps worth more than a specified NR value will receive certain incentives to make more contributions.
  7. Through the Nebulas Wormhole feature, the platform enables its users to make use of side chains while using the main blockchain simultaneously. This interoperability will allow the users to share data and assets across side chains. The Nebulas blockchain will, thus, offer greater scalability.
  8. Nebulas Force (NF) provides a self-evolving characteristic to the Nebulas blockchain. All the basic protocols upgrade themselves under NF. It enables the developers to integrate new technologies and remove bugs without any hard forks. It works via community votes to decide the direction and objectives of the blockchain upgrade.

Features

  1. Wormhole: The Nebulas Wormhole enables the users to share data and assets across multiple platforms via side chains. It, therefore, maintains interoperability on the platform.
  2. Lightning Network Wallet: This is Nebulas’s own wallet that offers atomic swap facility. It allows users to swap their NAS coins for any other crypto that operates on a lightning network.
  3. Search Engine: The platform offers a browsing facility to facilitate users to find data for DApps and smart contracts in a large space.
  4. Developer Tools: Nebulas provides a complete set of blockchain tools like plugins, debugger, simulator, background SDKs, and more for its developers.

 

#3 – How to buy and store NAS?

How to buy NAS

NAS is a utility token built for the participants of its ecosystem to contribute to and utilize the platform. It is available for purchase on exchanges like OKEx, EtherDelta, Gate.io, and Huobi. It is primarily paired with Bitcoin, Ethereum, and Tether.

  1. With the cryptocurrency available on a wide variety of exchanges, identifying the best rates to place a trade order can get confusing and time-consuming. CoinSwitch, the largest cryptocurrency conversion platform, allows users to trade their cryptocurrency for Nebulas utility tokens across exchanges, by sourcing all rates at one place. It supports over 300 cryptocurrencies and over 45,000 pairs of cryptos for users to choose their preferred order and preferred rates.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your NAS cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

The best option to store NAS token is in Nebulas’s own wallet. But since NAS is also an ERC-20 compliant token, it can also be stored in any ETH wallet like MyEtherWallet. Other storage options include hardware wallets like the Ledger Nano S and Trezor. Exodus and Jaxx are also compatible storage wallets for NAS.

 

#4 - What is the future of Nebulas?

  1. Nebulas was founded in May 2017. It launched its technical whitepaper in the third quarter of 2017. Its testnet went online by the end of 2017. The first quarter of 2018 witnessed the development of the Nebulas desktop and mobile wallet.
  2. After its developmental phase in Q1 2018, the company has gone live online with its Mainnet 1.0. It has also released its yellow paper that details the algorithms behind Nebula Rank.
  3. One of its chief objectives for Q1 2018 was to develop the Smart Contracts in JavaScript and TypeScript. It also involved the designing and development of the Nebulas Wallet for desktop and mobile platforms. This quarter also witnessed the creation of the Nebulas Block Explorer, a search engine for all the data on the platform.
  4. The company’s long-term goals include enhancing the platform’s scalability for voluminous transactions. The team is also looking to create subchain support and zero-knowledge proof integration.

Also Read: Complete Analysis of Nebulas | Live Nebulas (NAS) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Aug 01, 2018

2.67

2.73

2.50

2.60

17,622,800

121,678,402

Jul 01, 2018

4.90

5.12

4.61

5.01

37,194,400

222,897,680

Mar 01, 2018

8.17

8.50

8.08

8.44

7,480,770

289,987,072

Jan 01, 2018

5.66

5.66

5.00

5.29

8,631,880

-

Nov 01, 2017

1.81

1.81

1.55

1.69

4,155,450

-

 

#5 - How is Nebulas different from other cryptocurrencies?

Nebulas does not have any specific competitor due to its uncommon idea. Often recognized as Google for blockchains, the platform incorporates a number of features that make it unique among the numerous decentralized cryptocurrency platforms in the market.

  1. Its most distinct feature is that it is the first self-evolving blockchain with a value incentivized system. The community votes to create objectives for blockchain upgrade and the system performs these objectives on its own.
  2. The platform will function with the Nebulas Cluster Polymorphous Evolution that will ensure that the data and assets are secure when shared across side chains.
  3. It is creating a positive feedback system for the blockchain community. With its DIP feature, Nebulas has built a transparent and developer-friendly platform that supports an empowered blockchain ecosystem. Developers can now initiate projects with more autonomy and no third-party involvement.
  4. It is building a blockchain search engine and information index to make massive amounts of data more accessible and relevant. This will enable the users to make better use of blockchains. It will also help the investors in making more informed decisions regarding investment projects.

 

#6 - Should you invest in Nebulas?

  1. Nebulas is a unique platform with its self-evolving capabilities, removing the need for hard forks. Its goal is to create an ecosystem that incentivizes the developers based on their contributions. At the same time, it is building a search engine for the massive network of blockchains.
  2. The Singapore-based company has landed a number of strategic investment partnerships, like Tencent and FBG Capital. These partnerships will aid the company to improve its architecture and make further developments.
  3. With an experienced team of developers and supervisors, Nebulas has much to offer. The project holds potential especially for the developers' community and is worth investing in.

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