Could Nebulas Token become the ‘’Google of the Blockchain’’?

In this instalment of Bit-Report by Analyst Smith. I will present you with an in-depth review of Nebulas Token. Let’s take a look a what all the hype is about!

Nebulas (NAS) is fast becoming one of the most talked about Crypto-Currencies amongst Digital Asset investors. This Blockchain 3.0 Project featuring some of the brightest upcoming Chinese Blockchain experts, aims to tackle some of the biggest issues that Blockchain technology faces moving forward.

One of the biggest issues that Nebulas plans to tackle is how there is no single place or database to find and access each blockchain / distributed application (DAPPS).

Nebulas plans to tackle this issue by creating a self-evolving community driven algorithm that will rank the value of each distributed application based on the value exchange. NAS will be charged as the calculation fee for running smart contracts. The ranking system will be determined by assessing liquidity, propagation of assets, and the interoperability. Nebulas will measure how frequent, fast, and large the transactions are alongside how connected the Dapp is to the rest of the blockchain world making it easier to find useful blockchain projects. Nebulas Force will make for flexible blockchain development allowing for changes to be made without a Hard Fork occurring. It has been commonplace for coins to perform Hard Forks ultimately creating a pump and dump situation and Nebulas Force aims to tackle this.

Valuable Dapps on the Nebulas blockchain will be rewarded through the developer incentives program. Every week the developers of the highest ranking Dapps will receive rewards. This will encourage new developers to use the Nebulas ecosystem and should encourage loyalty amongst current developers who should favour maintaining the network for their best interest.

Nebulas have already released their Test-Net allowing developers to play with the technology and will release their Main-Net on March 31st. Masternodes or Masternode type options have been mentioned briefly, however, we currently don’t know how they will function or the price of each Masternode. I expect this will be discussed during one of the Nebulas meetings throughout March. If you’re interested in joining the Test-Net please see below.

https://github.com/nebulasio/wiki/blob/master/testnet.md

In anticipation of the Main-Net release, the Nebulas Team will be hosting meetups all throughout March to create awareness and to ultimately kickstart their marketing campaign that should lead to Exchange Listings, Partnership Announcements, and an overall increase in awareness about the huge potential Nebulas has. See below for more.

Key Fundamentals

Team — One of the strongest and most promising aspects of Nebulas Token is their outstanding team members and relations. You will notice that a lot of Nebulas’s technology is very similar to what we’ve seen with Google (Self-Evolving Protocol) so it’s joyous to know they have clear team relations. Hitters Xu, the mastermind behind NEO’s whitepaper previously taking part in Google Searches Anit-Fraud team, Core Developer Qi Zhu and Head of Engineering Duran Liu formerly Senior Software Engineer’s for Google. As we look deeper into Nebulas Tokens team we can see clear relations to Alibaba, Dolphin Browsers and other big names.

Advisors — Considering how seemingly strong the Nebulas team is it’s no surprise to me that we see very strong Advisors / Investors. Edith Yeung one of Silicon Valley’s investors partnered with 500 Startups; an early-stage venture fund and seed accelerator. This creates a clear pathway for Nebulas to a variety of upcoming companies working on innovative and cutting-edge technology. Chris McCann is a popular name amongst investors previously investing in Facebook, Airbnb, Dropbox, Linkedin, Coinbase etc. This just begs the question, what does someone with such an extensive investment portfolio see in Nebulas Token? Evan Cheng — A computer science mastermind who has received multiple awards for his work, with 10 years experience working at Apple under his belt. Currently working as an Engineering Director for Facebook.

Partners — Hitters Xu is an advisor for many of these partnerships and has relations with Loopring. I think Loopring is an exceptionally good partner alongside NAS aiming to build the ‘’financial system of the future’’ with their decentralized exchange and open protocol NAS and Loopring plan for ‘’in-depth cooperation’’. FBG Capital is one of the earliest digital asset management firms founded by Hitters Xu alongside Bitsclub which is a well-established Blockchain community in China. I suspect a lot of members were investors during NAS ICO phase. GIFTO (GTO) A decentralized universal gifting protocol currently listed on Binance is also another partner and has been holding up well recently despite the bearish market conditions. Tencent is always a good partnership name to have; a well established billion dollar company providing a global ecosystem platform for businesses, featuring thousands of startup enterprises.

Technical Analysis

NAS/BTC — Price is currently in an asymmetrical triangle stemming from the beginning of the bull trend (ICO Price) with two underlying supports and only one downtrend resistance. Price and volume have surged 11% today due to the Dolphin Browser partnership announcement. I expect the price will either trade sideways for the next 12–24hours before testing the breakout resistance or fall back into the asymmetrical triangle. Given the current bearish market conditions, I would say there’s a solid chance the red arrow scenario will play out and we break downwards. If this happens I would suggest you look to either of the support at 0.0007 and 0.0006 sats for re-accumulation / entry. I strongly believe that NAS will perform well during March leading up to Main Net release. Hitters Xu will be hosting meetings throughout March at Berkeley, Harvard, Cornell, and Syndey to create aware leading up to Main Net release, I expect this to at least somewhat positively impact NAS price. Always take extra caution when trading / investing, stop losses are always advised. You can always sell and re-take positions to perform risk management.

ERC20 Swap -The swap from erc20 to Nebulas blockchain when mainnet launches on the 31st of March. NAS tokens eventually need to be swapped because Nebulas is building their own blockchain — to be released during the mainnet launch. Right now the NAS tokens are just ERC20 tokens (using Ethereum) but during the mainnet release everything — including the tokens — will be moved to the Nebulas blockchain. Instructions on what do with your coins will come soon. During the swap early investors will be rewarded by increasing the total circulating supply for NAS. In theory, this would negatively impact the price for a brief period of time, however, due to strong fundamentals, I doubt there will be a noticeable impact.

Where can I store NAS? -You can store NAS on https://www.myetherwallet.com/ simply by creating a custom token and adding the following information:

Symbol: NAS

Contract address: 0x5d65D971895Edc438f465c17DB6992698a52318D

Decimals: 18

NAS Current Price / Market Cap

Exchanges

Roadmap

Technical Aspects

Blockchain Technology faces three main challenges: measurement of

value, self-evolving capability, and healthy ecosystem development. Nebulas aims to address these three challenges with five key elements:

Nebulas Rank — Nebulas Rank is designed to come up with a universal measure of value for any entity on the blockchain based on three dimensions — Liquidity: the frequency and scale of transactions produce better liquidity, and better liquidity further increases transaction scale, forming a complete mechanism of positive feedback. Propagation: measurement of speed, scope and depth of information

transmission. This is a key index indicating network quality and user growth. Powerful propagation means wider and deeper asset liquidity, which improves the quality and scale of assets in the Blockchain world. Interoperability: How efficiently interactions on information of user assets, smart contracts and distributed applications can be passed across the network. Nebulas Rank framework transaction records are represented in the form of a graph. In the transaction graph (entity graph), every node is mapped to one entity, and each edge represents the transfer between two entities. The transaction graph shows how money transfer among users leads to assets flowing, which helps to represent the concepts of liquidity and propagation whilst clearly displaying the interoperability among contracts. See link below

https://nebulas.io/docs/NebulasTechnicalWhitepaper.pdf

Nebulas Force — Nebulas Force is used to describe the self-evolving capabilities of blockchain systems and it’s applications. Nebulas Force includes three main aspects, Nebulas Virtual Machine, the upgrade of the protocol code in the blockchain system, and the upgrade of the smart contract running on the blockchain system. Nebulas Virtual Machine architecture is designed to allow the performance and security of the core

code and the smart contract of Nebulas to be continuously improved. You can find more about how this architecture works on their technical whitepaper. NVM is a collection of highly modularized compiler toolchains and technologies, which has been used as

a code compilation framework in Google, Apple and many other companies to provide neutral intermediate representations. Any action on the blockchain will be determined by the Protocol Code, including the authentication algorithm, the packing rules, the Nebulas Rank algorithm, the incentive mechanism, etc. Almost all actions of blockchains can be defined by the Protocol Code. If the protocol code needs to be upgraded, the Nebulas development team will be responsible for its development and the code will be released to open channels for discussion and voting in communities. Voting can be carried out in the form of the smart contract or voting on the forum. If the majority of community members agree to upgrade the protocol, the Nebulas development team will pack the latest code into Protocol Code transaction, and release it to all nodes of the whole network. Fluid upgrades of smart contracts will provide an upgradable solution, that will mean situations like the DAO Attack or Parity bug events can be

fixed more rapidly, rather than through hard forking which can ultimately result in price manipulation. After repair, assets of all users can continue to be used without migration.

Developer Incentive Protocol — Nebulas believe that an excellent smart contract depends on how many users are willing to use it. The higher value account would mean the better the smart contract. Nebulas Rank can be used to assess high-value accounts. The Developer Incentive protocol uses Nebulas Rank to measure the value of any given smart contract. The valuation of the smart contract would directly impact the reward distribution. The developer incentive protocol will be carried out once a week for smart contracts. Nebulas have developed a system where smart contracts can only be called passively. Therefore, if a cheater wants to increase his/her smart contract ranking, he/she has to find sufficient high ranking accounts to call his/her contract which would come at a great cost. This should ultimately eliminate any potential cheating.

Proof of Devotion (PoD) Consensus Algorithm — The consensus algorithm is one of the cornerstones of the blockchain. If the big capital can easily gain power to control the block consensus in Nebulas, the interests of many developers and users will be damaged. The consensus algorithm will be designed to ensure rapidity and irreversibility to guarantee the interest of contributors.

Search engine for decentralized applications — As the number of smart contracts being deployed by developers rises exponentially the need to search for these smart contracts rises accordingly. Given that smart contracts are simply code and include no functional descriptions, indexing smart contracts with search engine technologies imposes a high difficulty. Nebulas search engine retrieves all smart contracts in real time, performing multilingual, word breaking full-text indexes to provide users with a user-friendly web interface. The diagram below show’s how the search engine infrastructure works.

I have summarised each technical aspect for the point of this report. You can find a much more detailed explanation of all the technical aspects I’ve covered in the Nebulas Technical Whitepaper — https://nebulas.io/docs/NebulasTechnicalWhitepaper.pdf -

NAS will leverage DAG technology to parallelise transactions & boost blockchain performance. see more below

Nebulas Q&A with Co-Founder Robin Zhong

https://youtu.be/oyzzoX_Xmkw?list=PL77lHThSG1hdFbYf8vLWeUkl7HffdofbZ

Live Reddit AMA with Founder Hitters Xu

https://www.reddit.com/r/nebulas/comments/7zci43/first_live_reddit_ama_with_nebulas_founder/

Disclaimer: I am an analyst, not a financial advisor and this is not investment advice. What you do with this information is up to you.