Nebulas (NAS) – What You Should Know About Nebulas

Written by Adolph Obasogie - Reviewed by Coin Review Team

Published: Jun 20, 2018 | Last Updated: Mar 14, 2019

2024-12-06T06:50:01+00:00

What is Nebulas?

Nebulas provides a decentralized, blockchain based platform with a search framework for all blockchains. The project features a search engine as well as upgradeable smart contract capabilities and a virtual machine. It enables users to search through DApps, smart contracts and blockchain assets. The underlying asset is called NAS and started as an ERC20-token but can be swapped to a native asset since the launch of the mainnet. The token is used to pay for transaction fees and computing power.

Table of Contents:

Key features of Nebulas:

Nebulas Rank: ranking oft he highest-rated DApps and accounts
Nebulas Force: flexibility solution for protocols/smart contracts. Intended to make the blockchain adaptive and prevent forking.
Developer Incentive Protocol / Proof of Devotion: Reward system for developers
and active community participants
Search Engine
Lightning Network Wallet: Atomic Swaps between NAS and any lightning network enabled coin.
The consensus mechanism is called Proof-of-Devotion (PoD) which selects the highest ranking accounts and offers them to be “bookkeepers.“ These selected delegates are allowed to verify transactions and get NAS tokens as a reward, similar to delegated Proof-of-Stake.

History

Nebulas were founded by Hitters Xu and Aero Wang, who was also involved in the creation of Antshares, along with Robin Zhong. The Nebulas team has 14 core members and is based in China. The token sale was held from 8. to 16. December 2017 and 60,000,000 USD was collected.

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Can Nebulas be mined?

No, the project uses PoD (Proof-of-Devotion) as a consensus mechanism. Instead of mining, validators will verify transactions and get rewarded in tokens.

What differs Nebulas from other Cryptocurrencies?

Nebulas aims to become the “Google of blockchains.” A decentralized search engine for blockchains and decentralized applications is a fascinating idea. Another thing where Nebulas stands out is its developer friendliness and reputation system.

How much is Nebulas worth today?

What is the total and the circulating supply?

The total supply of NAS is 100,000,000 and the circulating supply at the time of writing is 45.500.000 NAS.

Where can you buy NAS?

You can buy NAS on several cryptocurrency exchanges, most notably Huobi and OKEx.

Can NAS be sold for cash?

At the moment you cannot sell NAS for cash directly. You have to exchange NAS to BTC or ETH and sell that for cash.

Future Development

Mainnet was launched on 31. May 2018. Now the team is working on the full implementation of Nebulas Rank and the Developer Incentive Program. A fully functional Nebulas Force is scheduled for 2019. Other long-term goals are the integration of sub-chain support and zero-knowledge proofs.

Verdict and Rating

6/10 Nebulas is a fascinating project with huge ambitions. The team is capable and technologically very advanced. The focus on developer incentivization and a trust system are unique and well thought out. One to watch.

Blockchain Whispers, the most accurate crypto website in existence highlighted NAS as an interesting project to its members. If you don’t aren’t aware of it yet, I highly recommend you to bookamark Blockchain Whispers, as it is a must-have arsenal for crypto intelligence. You can visit here https://blockchainwhispers.com/premium/

6 / 10.0

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Disclaimer

The writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.