Nebulas

Nebulas is an incentive-based, self-evolving blockchain system with a decentralized platform which provides a search framework for all blockchains. The Founder of the platform is also the original founder of NEO. Nebulas seeks to do three things: 1) Defining rank value for the ranking of Dapps; 2) Building positive feedback for community ecosystem (for Dapps development) & 3) Achieving self-evolution of its blockchain system.
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Price
Basic
Smart Contract Support:
Yes
Consensus Mechanism:
Proof of Devotion
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What is Nebulas?

Nebulas is an incentive-based, self-evolving blockchain system with a decentralized platform which provides a search framework for all blockchains. The Founder of the platform is also the original founder of NEO.

Nebulas seeks to do three things: 1) Defining rank value for the ranking of Dapps; 2) Building positive feedback for community ecosystem (for Dapps development) & 3) Achieving self-evolution of its blockchain system.

How does Nebulas work?

Nebulas use liquidity, propagation and interoperability as the three main dimensions to produce Nebulas Rank (NR), which is used to measure the value in the world of blockchains.

Based on NR, the blockchain adopts a proof of devotion (PoD) consensus algorithm. PoD gives an "influential" user on the Nebulas blockchain an opportunity to become a bookkeeper and receive Nebulas block rewards and transaction fee as revenue, which will encourage them to contribute to the stability and security of the Nebulas blockchain on a continuous basis. Users with NR values higher than a specified threshold may take part in the bookkeeper selection procedure by paying a security deposit; through virtual mining, each bookkeeper candidate competes to earn bookkeeping rights; users with bookkeeping right are responsible for block generation, and in return receive block reward and transaction fee as revenue; and if any user behaves in an inappropriate fashion, the user’s security deposit will be confiscated and reassigned to other bookkeeper candidates.

Nebulas also develops the concept of Developer Incentive Protocol (DIP) whereby in in pre-specified block intervals, for those developers whose smart contracts and DApps deploy online in the most recent interval with an NR value higher than a specified threshold, DIP will reward them corresponding developer incentives, and these incentives shall be recorded on blocks by bookkeepers.

Last but not the least, the platform incorporate the concept of Nebulas Force (NF) which provides the Nebulas blockchain and its distributed applications built on top of it, the capability to self evolve. With NF developers are able to make changes, incorporate new technologies, and fix bugs without needing to hard fork.

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