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Nebulas NOVA: The dawn of a collaborative future

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Nebulas NOVA: The dawn of a collaborative future
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On April 15 [UTC+8], 2019, the renowned public blockchain project Nebulas held an exclusive press conference in Beijing, China to officially announce the launch of a new and much-improved version of their blockchain-Nebulas NOVA.
This release includes upgrades to the core functions of the Nebulas mainnet and is now the first as well as the only public blockchain with worldwide native, on-chain incentives for its users. This unique incentive structure will allow for the essential support of community collaboration unlike the blockchain ecosystem has yet to see.
The topic of the press conference was “Nebulas Nova: The Dawn of a Collaborative Future” and in total 200 distinguished guests were invited. Guests included blockchain industry leaders, Nebulas ecological partners, representatives of community developers, community members as well as other institutions and media attended.
During this event, Nebulas founder Hitters Xu, co-founder Aero Wang and the leader of the Nebulas Research Institute Dr. Xuepeng Fan gave keynote speeches sharing more about governance principles of the Nebulas community, the implication of these principles towards community collaboration and related technical development.
Community governance is a very hot topic for the entire blockchain industry in 2019 and was a primary topic at the press conference. Following the creation of Bitcoin and its “hologram” of information, Nebulas aims to create a new “hologram” of organized collaboration.
Nebulas’ goal is to let everyone-including organizations develop under a unified, open and transparent set of community governance rules via the power of decentralization, project-based development, on-chain voting systems, and the powerful tools incorporated into Nebulas NOVA.
In fact, NOVA represents a giant breakthrough in the bottleneck of decentralized collaboration via technical innovation hence providing a better ecosystem of asset distribution and management for Nebulas community governance.
At the press conference, Nebulas founder Hitters Xu expressed the opinion that NOVA has introduced “Smart Assets” that will leverage the great potential of decentralized cooperation. He considers them “Smart Assets” because they are programmable, manageable and usable. In return, all digital asset holders are now users that can play a large role in future ecosystem development and be part of the sustainable, prospering ecosystem with positive incentives.
Currently, the public blockchain industry lacks the competence to attract consistent and excellent developers as well as features to carry out self-evolution with minimal disruption or friction to the users. Nebulas NOVA will accomplish seamless and transparent upgrades via three core technical features: Nebulas Rank [NR], Nebulas Blockchain Runtime Environment [NBRE] and Developer Incentive Protocol [DIP].
Specifically, NR measures the contribution of all on-chain accounts to the digital economy. It incorporates excellent anti-cheating capabilities and extensive scalability that can cater to many different scenarios which will provide long-term and highly effective incentives for developers.
To achieve frictionless upgradability, NBRE is an execution environment and provides upgrade functionality to NR, DIP and is a core technology that will support Nebulas self-evolution.
In addition, Nebulas utilizes Just-in-time compilation technology that can execute Nebulas Protocol Representation [NRP] which gives the network autonomous upgrades to core protocols.
For example, Nebulas NOVA provides the capability for community members to upgrade and adjust the parameters or implementation of developer incentives at any time without affecting standard upgrades to the Nebulas core which will ensure the effectiveness of DIP.
Currently, the Nebulas mainnet supports around 260,000 accounts, over 6,800 active DApps and has exceeded 1 million transactions in a single day – all while retaining stability. Nebulas have also received academic and government recognition and previously placed third of all public blockchain projects by the CCID research institute under MIIT.
Nebulas NOVA represents the second phase for Nebulas to truly become an Autonomous Metanet and the release of NOVA is the first step towards this intention.
The future of collaboration is coming: After Nebulas NOVA goes live, both developers and everyday users of the blockchain can extensively participate in ecological development and jointly realize Nebulas’ core vision: Let everyone benefit fairly from decentralized collaboration.

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

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