The Nebulas Foundation will launch their highly anticipated Mainnet 1.0, also known as Eagle Nebula today, March 29th (UTC-07:00).
What is Nebulas?
Nebulas (NAS) is an incentive based, blockchain system that uses a decentralized platform which provides a search framework for all blockchains. Basically, the Nebulas platform is like a search engine that focuses on dApps, smart contracts, and user’s blockchain assets.
The Nebulas framework consists of these key features:
- Nebulas Rank (NR): A new system for the measurement of value for applications on the
blockchain. Nebulas Rank measures the value of applications by considering liquidity and the
propagation of addresses & contracts used in applications on the Nebulas platform – in a trustful, computable, and deterministic approach
- Nebulas Force (NF): Supports upgrading the core protocols & smart contracts directly on the main chains. This will provide Nebulas the capability to self-evolve and incorporate the newest
technologies into the main chain, once they are ready for real world usage. With Nebulas Force,developers can build rich applications in fast iterations, and these applications can dynamically adapt to market changes or community feedback.
- Developer Incentive Protocol (DIP)/ Proof of Devotion (PoD): The Nebulas token will be provided as an incentive for the top developers on our platform. This will help reward the best applications and incentivize developers to build more value for themselves and Nebulas as a whole.
- Search Engine: Nebulas constructs a new type of search engine for decentralized applications based on Nebulas ranking system. Using the Nebulas engine, users will be able to find the most useful decentralized applications when they need it.
- Proof of Devotion (PoD) Consensus Algorithm: To build a healthy ecosystem, Nebulas proposes three key points for their new consensus algorithm: speediness, irreversibility, and fairness.
- Lightning Network Wallet: Essentially atomic swaps. You’ll be able to “swap” your NAS for any lightning network enabled coin.
Currently the Nebulas token NAS is an ERC20 token but will be swapped to their own coin on the Nebulas blockchain shortly after Mainnet is launched. According to their official telegram, there has yet to be an official announcement regarding the token swap. In most similar cases, simply holding NAS on an exchange or a supported wallet where NAS private keys are held will be acceptable and allow the token to be swapped.
A few details from the Nebulas Foundation regarding Mainnet 1.0 Eagle Nebula:
(1) Genesis Block:
Nebulas Foundation will build the genesis block when the mainnet is launched. The Nebulas Genesis Block Manifesto will be included in the genesis block.
(2) Consensus Algorithm & Witness:
As described in its white paper, Nebulas will employ a Proof of Devotion consensus mechanism. Prior to the formal verification of the PoD algorithm, we will employ a DPoS mechanism in the interim.
(3) Nebulas Explorer:
Nebulas Explorer will be launched together with the mainnet. Nebulas Foundation will continue to work with third party developers to add new functions into Nebulas Explorer, and make it compatible with new Nebulas features as they launch, including NR (Nebulas Rank) and DIP (Developer Incentive Protocol). Nebulas Explorer is an open source project, and welcomes all developers and believers to help optimize it.
Nebulas’s web wallet will be launched together with the mainnet. In addition, the wallet app is near completion! It is currently scheduled to launch at the end of April. Nebulas wallet will support NAS and all other assets in the NAS ecosystem.
Click here to check out Nebulas Web Wallet’s GitHub page.
The tesnet is an important platform for testing and verification. It will run in parallel and independent of the mainnet, so neither will influence the other. Nebulas Foundation will test and verify all new features in the testnet before integrating them into the mainnet.
Click here to see the Testnet.
(6) NAS Coin Swap:
We will release the official plan regarding the NAS coin when the lock up program ends. No coin swap is currently ongoing. Please ignore false information, wait for our official announcement, and protect your digital assets wisely.
The NAS token currently has a value of $6.21 with a market cap of $220,542,300 USD.