Nebulas’ Two Step Plan to Become the De Facto Decentralized App Platform
Originally published on: CCN
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June 16, 2018
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After the release of bitcoin and other similar currencies in the first half of this decade, a wave of new blockchain offerings entered the market with unique features such as smart contracts and decentralized applications. These cryptocurrencies have been dubbed as Blockchain 2.0 projects, in an attempt to identify them an evolutionary step in the blockchain ecosystem. A few years later though, another important change is taking place, giving rise to platforms with the Blockchain 3.0 moniker.
Nebulas is one such endeavour that aims to be the de facto blockchain search engine. Often referred to as “The Google of blockchain”, Nebulas introduces numerous improvements to the existing notions of smart contracts, decentralized applications (DApps) and even other blockchains. It does this with the help of two distinct technologies, one of which is a ranking algorithm named Nebulas Rank and the other being an upgradation process called Nebulas Force. What is most important about the latter is that the platform’s developers no longer need to hard fork the blockchain every time an update needs to be deployed.
Not long after launching the public mainnet on March 30, 2018, the Nebulas team announced an initiative to bring more decentralized applications to the platform. Labelled the Nebulas Incentive Program, it rewarded developers that created decentralized app on Nebulas infrastructure. After running its first instance through the month of May, the program turned out ot be an overwhelming success with over 2000 submissions. In fact, the Nebulas platform is already home to the most number of decentralized applications, even beating out other, more established competitors like Ethereum.
In addition to rewarding development of decentralized applications on its platform, Nebulas has also recently announced the Super Contributor Incentive Program. The competition is designed to recognize the top 20 individuals that promote and invite the most new users to the Nebulas platform. Participation in the program is open to everyone, including community promoters, media, exchanges and even other members of the Nebulas community.
The winners for this part of the Incentive Program will also be drawn every week with the total prize pool pegged at 10,000 NAS tokens. The exact prize amount received by each winner is dependant on a couple of factors, namely the number of winners that they have invited and the combined total number of invited users among all participants. More details regarding the prize allocation can be found in the announcement post for the Super Contributor program.
Winners of the Super Contributor program will also be awarded with the opportunity to vote on DApps in the other half of the Nebulas Incentive Program. A smart contract will be set up where each winner can send in NAS tokens to vote on a DApp, at the cost of 1 token per vote. Ultimately, their votes will be tallied along with that of three Nebulas team members. Each judge will be allowed to spend up to 10,000 NAS to vote for their respective picks, with the allocation of votes completely up to them.
Nebulas has stated that the Super Contributor program is one of the platform’s first steps in introducing the ‘Proof of Devotion’ consensus algorithm to the blockchain world at large. Furthermore, given that participants are rewarded for introducing developers to the platform, the Nebulas ecosystem may also see an uptick in the total number of DApps built specifically for the platform.