Just about every (fairly) new cryptocurrency platform out there promises to be the “next generation” blockchain. Or, to claim to offer great scalability solutions along with low transaction fees. Clearly, these are two critical issues that need to be resolved at this point. However, the fact of the matter is that existing blockchains are not exactly designed to scale, in order to accommodate a huge amount of network traffic. Despite this, let’s applaud those who are trying to provide a crypto that is not only cost-effective to transact in, but also does not take a whole lifetime to confirm the transaction either. Founded in June 2017, Nebulas is:
An incentivized blockchain platform that does not require hard forks (backward incompatible upgrades) or soft forks (backward compatible upgrades) might be a crypto lovers dream come true…if realized of course. That’s because, as most crypto devotees would know, forks create all kinds of problems. Those being that there is often not a friendly consensus or agreement between a coin or token’s community as to how to upgrade the system.
This leads to fierce confrontations, manipulating the blockchain to suit the agenda of certain people – which is simply to make money at the expense of others, or even inferior networks being offered that are the result of shortsightedness and greed for short-term profits. So, with Nebulas, apparently we will have an “evolving” blockchain which is not fueled by greed or any other type of corrupt elements.
Above, are the “principles” on which Nebulas operates, according to the platform’s official website. So it seems that programmers on the platform would be constantly compensated for their quality work via the network’s intrinsic Nebulas Incentive (NI) rewards program. Then, there’s the “Nebulas Force” (NF) that apparently helps the platform’s blockchain adapt to changes, thus help the network scale without the need for contentious forks.
Also presumably to better or more accurately monetize elements on its blockchain, there is “Nebulas Rank” (NR) which determines the “value of every unit … [on its] blockchain.” A quick glance at the platform’s whitepaper which was updated on April 2018 reveals some notable features:
- Blockchain Search Engine
- Proof of Devotion (PoD) – a replacement for PoW / PoS, etc to deliver the three elements promised above NR, NI, NF.
- A Turing Complete Smart Contract Programming Language
There are a number of other interesting/unique features as well which you may learn about by carefully studying their whitepaper. Personally speaking, I look through a lot of whitepapers almost daily, and this one happens to be one of the most detailed/extensive ones. Not only that, but here is the almost one of its kind roadmap for this crypto:
- 2017.06 Nebulas Founded
- 2017.Q3 Technical Whitepaper & Code Open Sourced
- 2017.Q4 Testnet Online
- 2018.Q1 V1.0 Eagle Nebula Release & Mainnet Online
Yet To Happen:
- 2018.Q2 Yellow Paper – NR
- 2018.Q Mauve Paper – NI
- 2018.Q4 Green Paper – NF
- 2018.Q4 V2.0