Blockchain technology is evolving and we are starting to see the emergence of a number of major players such as Ethereum, NEO, Ripple and IOTA. But many discussions focus on how to reduce volatility without hindering innovation and decentralization. One of the main thinkers who co-founded NEO (at the time, he called Antshares) is trying to do just that. Hitters Xu thought that his new generation of Blockchain, the Nebulas, would reduce, if not completely eliminate, the need for forks. And it will bring search capability to Blockchain platforms – like a Google for Blockchain.
After serving as Founding Director of Blockchain Platform for Ant Financial (the financial subsidiary of Alibaba), Googles in Search & Antifraud Team, Hitters Xu is back on Nebulas as his latest project, a project Open-source blockchain aspiring to lead the next generation of Blockchain technology
Decentralized Research Framework
More blockchain-based emergent application scenarios, from crypto-currency to a wider range of sectors such as finance, health, advertising, supply chain, etc. The Blockchain ecosystem explodes with asset trading, smart contracts and DApps. Finding the most relevant applications among a sea of DApps will become more difficult.
"Bitcoin Blockchain represents a one-dimensional world where transactions take place peer-to-peer.Eethereum Blockchain has brought us a two-dimensional world with contracts Smart and DApps More and more applications are being built on Ethereum now.When the number of DApps Blockchain reaches that of a mobile app store, the way users search for and find the DApp expected would be a big challenge. "
Just as Google ranked the websites in their search results with its PageRank, Nebulas will provide Blockchain users a way to find the most relevant information in the search engine. Blockchain world with Nebulas Rank (NR), thus building a three-dimensional world. Based on measuring the value of NR, people can still unleash the value of Blockchain technology and explore business opportunities such as the search engine, commercials, DApp Store
No more Forks
The Blockchain system can not force users to upgrade clients and protocols. Therefore, upgrading the protocol in the Blockchain system often leads to "forks" or "forks". The Bitcoin community has not been able to agree on scaling blocks, which has led to controversy. Although Ethereum's "hard fork" offers a temporary solution to the DAO problem, it also created "duplicate assets" like ETH and ETC and resulted in division into the community.
A well-designed system should be able to evolve in order to achieve better performance, better resilience and a user experience with little outside intervention. At Nebulas, the ability to self-evolve is called Nebulas Force. The Nebulas system allows basic protocols and smart contracts to upgrade smoothly. It also allows developers to respond quickly to upgrade violations. Hitters commented:
"The DNA of the human being does not evolve through hard or soft forks. Instead, small mutations are integrated in our DNA system, a Blockchain-like decentralization where every human being has a complete copy.The Blockchain system of nebulae evolves in a very similar way. "
A new protocol incentive for a better ecosystem
In order to have a rapid growth of DApps, an appropriate incentive model to encourage developers become more and more important. Nebulas invented the Developer Incentive Protocol (DIP) to reward developers of intelligent contracts or DApps with high levels of nebulae. They could get Nebulas Token (NAS) for their contribution to the community. This creates a virtuous circle where developers are encouraged to create high quality DApps
PoW and PoS are currently two major Blockchain consensus algorithms. Nebulas has created a new one to help build a better Blockchain ecosystem.
"The problem of PoW is a waste of computational power.While the PDS is enriching the rich.Nebulas has developed the Proof of Devotion (PoD) algorithm.PoD also uses NR as value measurement to identify accounts with great devotion to the ecosystem and give them the fair chance of being accountable to avoid the monopoly of accounting. "
About of the team
Hitters is one of the first members of the Blockchain community in China. After meeting Bitcoin in 2012, Hitters created BitsClub.io in 2013, a non-profit Blockchain community project. Ethereum debuted in China at BitsClub in March 2014, followed by a roadshow in May 2014 on the First Global Blockchain & Bitcoin Summit, also initiated by Hitters. In September 2016, Hitters joined Ant Financial, Alibaba's financial subsidiary, and built the first and only Blockchain platform within the Alibaba Group.
In May 2017, he left Ant Financial to found Nebulas with Robin Zhong, former architect of The Blockchain Platform of Ant Financial and co-founder of Aero Wang, Antshares (NEO). Nebulas completed its pre-sale in the first half of December and raised $ 60 million in EPF. Cointelegraph does not endorse any content or product on this page. While our goal is to provide you with all the important information we could obtain, readers should do their own research before taking any action regarding the company and assume full responsibility for their decisions, this article is not intended can be considered as an investment advice.