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Nebulas moves forward with partnerships, updates and announcements!

Anirudh VK

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Cell Evolution raises 5 million RMB at more than $4.5 million USD valuation
Source: Nebulas

Nebulas is a continually self-improving blockchain platform built for the future of the industry as a whole. It features revolutionary components such as Nebulas Rank, a ranking system that functions as a native measure of value, and Nebulas Force, a system that allows the blockchain to improve itself at a low-level scale.

It also functions on a new consensus algorithm known as Proof of Dedication, which curbs monopoly in bookkeeping by awarding bookkeeper privileges through probability. It is also interoperable with Ethereum smart contracts for maximum reach.

The Nebulas blockchain has an open approach to developers, as seen by the inclusion of the Developer Incentive Protocol. The protocol rewards smart contract and dApp developers for devotion to the community. It is also friendly to developers, as it does not require them to learn a language that is new, instead is JavaScript friendly.

The native token of the Nebulas ecosystem is known as the NAS token, which provides asset liquidity among users. It is also used as an incentive for the PoD bookkeepers on the blockchain. Just like the Ethereum blockchain, it charges NAS as a calculation fee for running smart contracts.

Recently, Nebulas has been striding forward with many announcements, partnerships and updates. Here are a few:

NAS Nano released on iOS and Android:

Nebulas’ wallet offering known as the NAS Nano was released on the iOS and Android platforms on May 25th. This allows users to manage their digital assets from their mobile devices. It features an easy-to-use interface, and boasts of features such as the ability to quickly and easily create, import, and manage wallets, and to check transaction progress in users’ wallets. It has 3 kinds of wallet backups, including mnemonic, keystore and a private key backup.

It is worth noting that the NAS wallet only supports the NAS mainnet and not the NAS ERC20 token. It also does not support the token swap.

On May 31st, the NAS wallet got an update which involved the addition of a dApp store. Users can now find and access hundreds of dApps from the Nebulas Incentive Program. As of now, 3000+ dApps have been launched on the Nebulas platform. This is already more than the number of dApps on Ethereum.

Nebulas add support for Verifiable Random Functions:

The support for Verifiable Random Functions was added to Nebulas on May 29th. This feature allows for the generation of fair and secure randomness and is widely used in video games for Random Number Generation. Nebulas added VRF to make it easier for developers to build dApps and smart contracts. It is now extremely easy to generate randomness on Nebulas.

Nebulas selected by China’s MIIT:

The CCID blockchain institute under China’s Ministry of Industry and Information Technology has selected Nebulas as one of the 30 products to include in their index. The index in question is known as the Global Public Chain Technology Evaluation Index. It will be released every month to evaluate various public blockchains. They will be evaluated on 3 criteria, namely, Basic-Tech, Applicability and Creativity.

Partnership with DeepCloud AI:

Keeping in mind their philosophy to expand the Nebulas ecosystem, Nebulas have introduced DeepCloud AI as part of their blockchain incubator program. DeepCloud AI combines Artificial Intelligence and blockchain to create AI-driven decentralized cloud computing platforms.

It will leverage Nebulas’ Nebulas Rank system and Developer Incentive Protocol to democratize cloud computing. DeepCloud is competing with existing cloud-computing service providers such as Amazon AWS and Microsoft Azure.

Nebulas CEO Hitters Xu, who is also a technical advisor to the platform, said:

“When I communicated with DeepCloudAI, I was impressed by their vision for democratizing the cloud and making it easy for anyone to share their computer resources and make money, at same time making it easy for DApp developers to get to these resources for building the applications along with Application Marketplace. I believe the use of Nebulas blockchain by DeepCloudAI can build a strong ecosystem for decentralized applications. I am very excited and looking forward to our great collaboration ahead.”

Nebulas signs MoU with Spiking:

In an aim to expand their reach using the Nebulas Rank service, Nebulas has signed a Memorandum of Understanding with Spiking. Spiking is the world’s first blockchain asset validator and Artificial Intelligence-driven cryptocurrency trading infrastructure. The MoU in question would allow for the development of Spiking’s core search technologies.

Spiking aims to allow users to find whales and follow their trades. It does this through smart contracts that let users mirror these trades or personalize their portfolio based on them. Spiking will partner with Nebulas to contribute positively to the ecosystem by harnessing Developers Incentive Protocol to draw in developers and incentivize their work.

As seen by the strides made by the team with a forward-looking mindset, it is clear that Nebulas aims to establish themselves as a next-generation public blockchain.

To know more about Nebulas, click here!




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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

Altcoins

Tron [TRX] energy cost to be reduced from 20 sun to 10 sun

Priya

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Tron [TRX] energy cost to be reduced from 20 sun to 10 sun
Source: Unsplash

The whole cryptocurrency market has been witnessing a steep downward trend for the past couple of weeks. Even the major cryptocurrency like Bitcoin [BTC], Ethereum [ETH] and XRP, have lost the battle against the ice king. This negative trend has broken down most of the new projects in the market, especially the investors’ sentiments. There are also a few projects and team that are finding it hard to continue their operations because of the bear’s ever-growing presence.

Despite this, Tron [TRX], the tenth-largest cryptocurrency by market cap, continues to make advancements in terms of network development. Justin Sun, the founder and CEO of Tron Foundation presented the second proposal, Proposal 9, has been approved by 2/3rd of the governing body. The proposal is aimed at making the network a developer friendly environment by reducing the energy cost from 20 sun to 10 sun, which, in turn, reduces the cost of smart contact.

Justin Sun's tweet on the proposal | Source: Twitter

Justin Sun’s tweet on the proposal | Source: Twitter

At the time of writing, the proposal had received 22 approvals and no disapprovals. The representatives who voted for the proposal includes Justin Sun Tron, Tron Society, BitGuild, Tron One, Lianjinshu, uTorrent, Crypto Guy in ZA, Infinity Stones, Alle Exchange, Tron Alliance, TronWalletMe, Raybo Tron, BitTorrent, Blockchain Org, CryptoChain, Sesameseed, callmeSR, DApp House, Tron Spark, TRX Market, Sky people, and Tron Europe.

The first proposal of the month was related to maximizing the energy limit of the network, which was also aimed at supporting the developers of the ecosystem. The proposal was approved by all 28 Super Representatives of the network. Super Representative are the representatives of the community and validators of the node who are elected by the token holders. These representatives are given the power to vote for the activation of the features of the Tron Virtual Machine, with the focus on the betterment of the entire community.

Earlier today, the CEO of the Foundation spoke about how Tron surpassed Stellar Lumens, the fourth largest cryptocurrency by market cap. He said on Twitter:

“According to @CoinMarketCap, there are 159 trading pairs of #TRON which already surpassed 157 trading pairs of Stellar. #TRX was already listed on more than 100 exchanges, including Crypto/Crypto & Crypto/ Fiat trading pairs”


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Analysis

XRP/USD Technical Analysis: Sideways movement to end as breakout imminent

Priyamvada Singh

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XRP/USD Technical Analysis: Sideways movement to end as breakout imminent
Source: Pixabay

As the cryptocurrency market switches their allegiance between the bull and the bear, XRP is painted red at the moment. The token is slumped by more than a percent wherein the coin is trading at $0.3 with the market cap of $12.4 billion. The 24-hour trading volume is calculated at $305.8 million.

1-hour

XRP 1-hour candlesticks | Source: tradingview

XRP 1-hour candlesticks | Source: tradingview

In the 1-hour price chart, the downtrend is ranging from $0.315 to $0.311 whereas the uptrend is extending from $0.301 to $0.308. A clear possibility of a trend breakout is visible as the prices are packed tightly, ready to explode in either direction.

The Parabolic SAR is bullish on the cryptocurrency as the dots have assembled themselves below the candles to support the bull.

The Aroon indicator is showing a greater strength in the downtrend, which is a bearish sign for XRP. However, it can be observed that the red trend is losing its power and crashing.

The Awesome Oscillator is slightly bullish on the coin as the bars have turned green at present.

1-day:

XRP 1-day candlesticks | Source: tradingview

XRP 1-day candlesticks | Source: tradingview

In the 1-day timeline, the downtrend is stretching from $0.51 to $0.31 whereas the uptrend has been observed from $0.27 to $0.3. A trend breakout is not visible as of now.

The Klinger Oscillator has made a bullish crossover by the signal line. This indicates that the reading line is traveling in favor of a green trend.

The RSI is extremely bearish on the cryptocurrency as the indicator has crashed to the bottom of the graph. A trend reversal is not expected as well, as the reading has not hit the oversold zone.

Conclusion:

In this technical analysis, it is clear that the indicators are giving a mixed sign, advocating for a sideways trend. However, since a trend breakout is predicted in the shorter timeframe, a bullish win might take over the price chart.


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