Nebulas is a successful public blockchain-based ecosystem. The project that was founded just a year ago has already achieved significant results. The Nebulas coin ranks 55 by market capitalization, its official mobile wallet includes a decentralized application center and its Incentive program proves to be effective in attracting best app builders. The self-evolving ability of the Nebulas Chain has contributed a lot to the success of the ecosystem, but the recent publication of the project has attracted attention to the other key feature of Nebulas.
The Nebulas Rank Yellow Paper is an important statement for the company. The development of an effective value measurement for blockchains has always been one of the key priorities for Nebulas. The whole paper is based on the concepts of Core and Extended Nebulas Ranks. The concept of the rank has already been presented to the public in the Nebulas White Paper, but the Nebulas Rank Yellow Paper brings it to the new level.
The approach declared by Nebulas definitely makes sense: the company believes that cryptocurrencies should have the attributes and functions of money. That may not sound too innovative when every other publication on blockchain claims that this technology is the future of financial systems, but Nebulas managed to solve several compelling issues. The three main features of the new set of algorithms are truthfulness, fairness and diversity.
Core Nebulas Ranks is an approximation algorithm that measures the contributions of a user to the whole blockchain-based economy within a specified period of time. The main two factors which underpin the whole model are the coinage and the account position information in the transaction network. This algorithm uses a progressive mechanism of evaluation of the amount of assets and transfer amounts to resist the hackers’ manipulation
Extended Nebulas Rank is based on the previously described Core Rank but tends to be more specific. This algorithm has been developed to evaluate calculate the rank for smart contracts. One more practical implementation of Extended Nebulas Rank is the multi-dimensional evaluation.
Nebulas knows how to bring talents together– and the work of its research team is the best proof of this statement. The Nebulas Rank Yellow Paper is a real milestone for the company. The development of the progressive value measurement algorithm for blockchain gives users and professional investors an opportunity to get better understanding of smart products available in the market. The Nebulas ecosystem is developing extremely fast due to its progressive super contribution concept – and it means that Nebulas Rank has all the chances to become the standard for the industry.
The first implementation of Nebulas Rank was a great success: it has become the benchmark for the blockchain-based projects. The opening of its code made it an undoubted leader in the sphere. The new publication is still a yellow paper – but it has all the chances to conquer the whole industry by the time it turns white.