Review on Nebulas by Jerry Siegel
Nebulas (NAS)
Nebulas is building a value assessment system and cuttting-edge governance mechanisms for the blockchains. Using Nebulas technologies, it will be possible to quantify the contribution of a specific network participant to the particular blockchain economy.
Idea:
To put it simply, Nebulas is a blockchain-based value scoring system. Nebulas-based technologies (i.e. Proof of Devotion Mechanism) allows DAOs and other blockchain-based organisations to accurately calculate the contribution of a specific participant (developer or just a regular user), as well as suggest the correct and adequate motivation system (rewards) for them.
Token:
There's two tokens in Nebulas ecosystem NAS and NAX. NAS is a platform utility token. All internal operations, including payment of transaction fees and the computing service charges are carried out using this token. Whereas NAX is used as a voting token in a Decetralized Staking (dStaking) - users vote for nodes via NAX, and the candidate node ranking algorithm references to block stabilization. To learn more about NAX token look up for Nebulas's nextDAO project.
Why I like this project:
1) Unique and stand-out ideas
Nebulas is a first-of-its-kind contribution value assesment system with no strong competition at this niche whatsoever.
2) Fairness in the blockchain economies
Nebulas is contributing to the resistance to manipulation. Upon implementation, blockchain manipulations in the internal system of value assesment calculations and malicious meddling in the results is very hard to accomplish.
Conclusion:
This project is very promising and it has a real use case, but it is not very popular at this moment. At the moment, it is very laborious to calculate the contribution of a particular user to the blockchain economy. It is possible that quantification technologies on the blockchain will be used everywhere. However, talking about some real applications is still early, it all depends on the development of the cryptoeconomy in general.
The focus of developers on cross-chain interoperability is also very encouraging. The whitepaper says that in the future it is planned to adapt the system to different blockchains - this will help the project to introduce technologies into cross-chain dapps.
ο»Ώ
Pros
- Unique and stand-out idea
- Great team and overall progress of the project
Cons
- The project is currently not getting the acknowledgment it deserves
