Nebulas Sri Lanka X Huobi Sri Lanka AMA Recap
Huobi Sri Lanka(https://t.me/huobiglobalsrilanka) hosted a community AMA with with Dustin K. (@satoshibytes) who is a long-time supporter in Decentralized technology and a member of the Nebulas Technical Committee.
Segment 01 : Project Introduction
Q1: What makes Nebulas unique compared to other chains?
A1: Well, first I think we have to acknowledge how many new decentralized projects there are and the level of innovation is impressive from many projects is amazing. Many blockchains begin life from pre-existing projects (also known as code forks) which inherently limit their capabilities. Nebulas was written from scratch thereby virtually wiping a whiteboard and creating something new and unique.
Since its inception, Nebulas has been easy to develop new dApps due to the use of JavaScript for smart contracts. For nearly a year now, the Nebulas blockchain and its ecosystem has been fully decentralized, both financially and technologically.
The Nebulas development team hopes to continue its development on unique features such as Nebulas Rank, which many have compared to Google’s Page Rank but for smart contracts/dApps, continuing the creation of a positive-feedback ecosystem to reward it’s users and much more. For those wanting to learn more about Nebulas, be sure to visit nebulas.io.
Q2: Does Nebulas have any decentralized finance service and where do you see the future of DeFi?
A2: Yes, Nebulas has a expanding DeFi ecosystem with cross-chain interoperability currently supporting some assets on Ethereum and interoperability with other blockchains are in the works. In addition, the Nebulas community can create proposals for the inclusion of additional cross-chain assets.
I believe that due to Ethereum’s limited technological barrier and the ideology of “freedom-finance,” it’s important to be able to interact with digital assets on other decentralized platforms.
The future of DeFi is very compelling and I believe that mainstream adoption is closer than most realize. Soon, not just finance but property and physical asset ownership will be verifiable via decentralized finance. In fact, this paves the way for everyone to be a bank and a borrower beyond the digital realm.
Q3: The NFT token craze has been amazing to see on Ethereum. Does Nebulas support Non-Fungible Tokens?
A3: Absolutely! Since Nebulas’ inception, it has supported not only custom fungible tokens similar to ETH and ERC-20 tokens but also Non-Fungible Tokens. In fact, during 2018, multiple games were released on Nebulas utilizing NFT’s. In addition, to many aspects of Nebulas, I would love to see game developers on Nebulas using NFT tokens, and to support this, a Nebulas community member developed a Godot game engine plugin fully supporting the Nebulas ecosystem. If there are any game dev’s out there interested in developing a game, feel free to get in touch with me.
Q4: How long until Nebulas is fully developed?
A4: There is a difference between completing a roadmap and development being completed. Since Nebulas is moving into the stage of requiring community developers, it will be up to the community to decide when Nebulas is complete. We foresee that the development community will continue the evolution of Nebulas.
Q5: How important is on-chain governance to an ecosystem?
A5: It’s extremely important. When looking at Bitcoin and Ethereum, minimal users have the opportunity to influence the future of the project. This creates a closed-loop development cycle where the many are irrelevant and just a few matter.
While Nebulas does have the Nebulas Foundation which prioritizes development of some ideas over others, the community does have the opportunity to suggest development steps, adjustments to the consensus mechanism and much more. Even this AMA was proposed by @MALITH123 and was overwhelmingly approved by the community operated Nebulas Governance Committee.
Segment 02 : Live Q & A Session
Q1. I would like to know about how to protect investors in your project ? Is there any audit process ?
That’s a interesting question since there are so many layers to consider so lets look at a brief overview.
So, Nebulas and virtually every Nebulas-based product has been fully audited by independent security firms specializing in blockchain. These products include NAS nano Pro, the actual blockchain software goNebulas, smart contracts for DeFi and much more.
In addition, there is the financial aspect we must review. Yes ROI is important to investors but beyond that, Nebulas publishes financial reports twice a year to give a idea of where the money is going and what it is being spent on. You can find all the reports on nebulas.io.
Q2. Partnership and community are the key to the success of projects, can you tell me how $NAS will expand the partnership and which markets will $NAS focus on?
Yes, partnerships can be a important part of the ecosystem and during 2018, it seemed like there were constant announcements pertaining to partnerships but the reality is that while Nebulas is a platform, it’s up to the partner to continue their endeavor. Sadly, not all completed their projects were abandoned.
On a bright side, Nebulas has the ability to incubate projects thereby supporting quality ideas and turning them into live products. More details about a recently incubated project will be released soon.
As far as markets, all are important but regulation makes it difficult to go after a individual one. Due to this, Nebulas is trying a new approach via cross-chain interoperability so no matter where you are, you can likely participate in the Nebulas ecosystem. Currently Ethereum is supported with more coming soon.
Q3. Do project developers or owners want to adopt a KYC format before using your project in the future?
No. Blockchain should not discriminate based on user or even project. There is no KYC to launch a dApp on Nebulas or use any of its services. This is the spirit of blockchain and we all must embrace it.
Q4. Binance smart Chain blockchain is having high transaction speed and cheap gas fees, Are you planning to launch your mainnet or switch to other blockchains in the future?
Actually, Nebulas is it’s own mainnet which was completly written from scratch using GOLANG. It’s extremely fast at 2,000+ TPS, ridiculously cheap to send and receive funds, and even extremely easy to develop on due to using JavaScript for its smart contract language. If anything, projects should be switching to us.
Q5. Many new projects made a good impression at first but were suddenly abandoned. How will you manage Your project to gain a place in the market and become a better token in the blockchain world? At the moment , where you are focusing right now ?
It’s a tough battle. The blockchain competition is fierce and I admire a few projects for the continued development. I can tell you that Nebulas Nebulas will soon be celebrating its 5th year since the initial writing of the first whitepaper and initial MVP. But to gain a place in the market requires more than tech or even marketing. It requires a special spark and continued support from the community.
The focus is:
1) Continue development on the main chain
2) Expand Nebulas to encompass other chains and to attract a new audience
3) Continued engagement with our amazing global community!
Q6. Can I Staking with your $NAS token? What are the maximum minimum amounts to Staking with $NAS?
Yes, you can stake your NAS via a unique dStaking (decentralized staking) mechanism. What this means is that compared to staking on other chains where you have to “trust” a smart contract with your funds, your funds stay safe in your wallet. No big multi-million dollar hacks!!!
Learn more at nextdao.io.
Q7. As cryptocurrencies are plagued by racketeers and thieves on a large scale today, what actions can you take to and improve your project so that we can trust you and direct our Trade to you?
Reputation is everything in the blockchain world. I’m sure many of us here have listened to some influencer that has only their best interest at heart and shortly regret it. That’s why Nebulas does not solicit such videos. If someone wants to publicize us, great BUT we want the truth instead of what a protentional community member wants to hear>
In addition, I have to mention that Nebulas’ founder Hitters Xu has been a public face in blockchain for quite a long time and was a found of Antshares (NEO). Lastly, Nebulas has had growing pains just like any tech startup but development is pushing along.
Q8. Nebulas has a grand vision. Could you please tell us what is its development blueprint? What are the highlights in future planning worth looking forward to?
A grand vision indeed but it requires active participation for it’s continuation. As I shared earlier, Nebulas is focusing on creating an Autonomous Metanet allowing for dynamic collaboration and even autonomous upgrades via community support.
As far as highlights, again, cross-chain support is high on the list followed by continued expansion of Nebulas’ own DeFi ecosystem and what the community deems a requirement.
Q9. Nebulas has a grand vision. Could you please tell us what is its development blueprint? What are the highlights in future planning worth looking forward to?
A grand vision indeed but it requires active participation for it’s continuation. As I shared earlier, Nebulas is focusing on creating an Autonomous Metanet allowing for dynamic collaboration and even autonomous upgrades via community support.
As far as highlights, again, cross-chain support is high on the list followed by continued expansion of Nebulas’ own DeFi ecosystem and what the community deems a requirement.
Q10.
01. Why does nebules use proof of devotion mechanism?
02. Why should people use nebules?
03. What is the aim of nebules?
1) Proof of Devotion (PoD) allows for a system similar to dPoS which is proven, fast and efficient BUT highly centralized. PoD allows for further decentralization since the top 51 nodes (check them out at node.nebulas.io) are pseudo randomly selected thereby allowing for greater decentralization.
2) Super fast TX speed, very cheap to send transactions, good UI on mobile, interoperability, a easier development cycle for dApps and much more.
3) At this point, the community has a lot of say in it’s direction. Personally, I have pushed for game development (using NFT’s and more). But it’s core vision is to create a ecosystem where all can gain some sort of value and I really feel that Nebulas has achieved this. There’s many ways to be rewarded within the ecosystem — both actively and passively.
Segment 03 : Quiz Session
01. What is the name of Nebulas’ governance token used to prioritize nodes and for voting?
1. NAS
2. NAX
3. NRC
4. NAT
02. What is the codename for Nebulas’ latest version?
1. Nebulas NOVA
2. Eagle Nebula
3. Nebulas Freedom
4. Nebulas Voyager
03. What is the average block generation time on Nebulas
1. 10 minutes
2. 15 seconds
3. 60 seconds
4. There is no time-scale
AMA Feedback
We want to continue to bring high quality AMA’s like this to our users. If you have any suggestions or requests, please feel free to submit your proposal at http://go.nebulas.io or contact us via telegram : https://t.me/nebulasen
Welcome to join in Nebulas community
Telegram (Global)：https://t.me/nebulasen
Twitter (Global)：https://twitter.com/nebulasio
Medium (Global)：https://medium.com/@nebulasio
Official website : https://nebulas.io/community.html
Go Nebulas : https://go.nebulas.io/
Nebulas PoD Node Decentralization Strategy : https://node.nebulas.io/list
White Paper: https://nebulas.io/docs/NebulasTechnicalWhitepaper.pdf
Official Forum : https://community.nebulas.io/
Telegram (Sri Lanka) : https://t.me/NebulasSL
Twitter (Sri Lanka) : https://twitter.com/NebulasSri
Medium (Sri Lanka)：https://medium.com/@nebulassrilanka
Disclaimer: This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making investment decisions.
