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Bitcoin and Ethereum have successfully introduced “Peer-to-Peer Electronic Cash System” and “Smart Contract” to blockchains. The industry is evolving rapidly, with emerging application scenarios and busi- ness requirements. For current blockchain technologies, we nd there are three challenges: measure of value, self-evolving capability, and healthy ecosystem development.
Nebulas aims to address those challenges. This white paper explains the technical design ideologies and principles of the Nebulas framework. The framework includes:
Nebulas Rank (NR), which measures value by considering liquidity and propagation of the address. Nebulas Ranking tries to establish a trustful, computable and deterministic measurement approach. With the value ranking system, we will see more and more outstanding applications surfacing on the Nebulas platform.
Nebulas Force (NF), which supports upgrading core protocols and smart contracts on the chains. It provides self-evolving capabilities to Nebulas system and its applications. With Nebulas Force, developers can build rich applications in fast iterations, and the applications can dynamically adapt to community or market changes.
Developer Incentive Protocol (DIP), designed to build the blockchain ecosystem in a better way. The Nebulas token incentives will help top developers to create more values in Nebulas.
Proof of Devotion (PoD) Consensus Algorithm. To build a healthy ecosystem, Nebulas proposes three key points for consensus algorithm: speediness, irreversibility and fairness. By adopting the advantages of PoS and PoI, and leveraging NR, PoD will take the lead in consensus algorithms.
Search engine for decentralized applications. Nebulas constructs a search engine for decentral- ized applications based on Nebulas value ranking. Using this engine, users can easily nd desired decentralized applications from the massive market.