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The Nebulas NAS token, the 68th largest cryptocurrency based on market capitalization, could be one of the most undervalued cryptocurrency coins on the market. The coin, trading at close to $2.18 as of Aug. 6 with a circulating supply of 45.5 million tokens, could be seriously undervalued considering the extent to which its ecosystem supports next-generation blockchain applications.
The Nebulas blockchain has been designed to incentivize developers to continuously find new applications. These incentives include a range of opportunities, the largest being a $5 million developer incentive program.
The platform provides rewards for those who can improve its ecosystem, from 80 NAS to 200 NAS.
A 20,000 NAS reward goes to the best monthly app. An additional 100 NAS goes to each qualified dApp. Weekly rewards go to those who develop dApps, for rewards from 10,000, 5,000 and 3,000 NAS for first, second and third best dApps.
Nebulas also offers 10,000, 2,500 and 1,000 NAS each month to the top three users with the most referrals.
There is also a Community Development Fund to support investment in the ecosystem. These investments come through developer contracts, support for academic research and new product development on the network.
To date, the incentives have supported an ecosystem consisting of more than 6,800 distributed applications and more than 35,000 daily transactions.
The network protocols also support developers in exceptional ways.
The platform offers the advantage of high speed, conducting about 2,000 transactions per second. In addition, the network has surpassed Ethereum in daily transactions.
The network’s underlying technology utilizes a protocol called Nebulas Rank (NR), one of the project’s unique selling propositions. The NR protocol ranks dApps, addresses and smart contracts based on interactivity among users, propagation of user assets and liquidity. The rank of a smart contract plays an important role in the whole blockchain economy, helping to find high-quality dApps and to motivate developers who build these apps.
NR worked with the platform’s “Proof of Dedication” consensus algorithm, which identified NAS rewards taking NR into account.
Nebulas has also, more than any blockchain ecosystem, recognized the need to quantify data value, applications and accounts on blockchains. The need is critical, based on continued scaling and the need for efficiency. Value measurement is also needed to enable the necessary collaboration in blockchains.
A Self Evolving Blockchain
Looking forward, Nebulas will provide a self evolving blockchain to attain future proof status through Nebulas Force, a technology that upgrades the underlying technology. The technology changes the blockchain’s protocols without a hard fork and ensures that the longest chain stays on the main Nebulas network.
The China Centre for Information Industry Development ranked Nebulas third place based on the innovation that the platform demonstrated. The Centre evaluates 31 of the world’s most influential public blockchain projects based on innovation, technology and application.
Nebulas also maintains active partnerships, include five established in June and July. These include Egretia, a blockchain platform for blockchain games; KingSoft Cloud, a distribution services and cloud storage provider for blockchain games; and Udacity, an online education platform for the Global Blockchain Talent Scholarship.
Nebulas could easily be the most undervalued cryptocurrency of 2018.