It’s Monday! No...it’s Monday for plebs not in crypto. Here in shitcoin land, we go 24/7/365. Every day feels the same and new shitcoins keep coming into existence at the same rate. We have become numb to time and space. That’s for a different conversation though.
Let’s get in to this shit...specifically Nebulas’s shit. We’ve gotten a few requests for this one.
Nebulas (ticker: NAS)
Wtf is Nebulas and why should I give a shit?
It’s the new Google they said. We will reach moon they said.
Nebulas is often branded as the ‘Google of blockchain’.
The Nebulas platform will be used to search for data amongst DApps (decentralized applications..if you didn’t know this, just leave our shit community), smart contracts and various other blockchain assets. Additionally, users can deploy applications, much like other platform projects. Their focus, or main selling point right now seems to be around ‘search’.
Seems kinda boring right?
Welp, it kind of is! :D BUT, the use case can be pretty large. Currently, the DApp ecosystem is quite small, so the amount of DApps listed would be insignificant….and the same goes for random blockchain asset shit like smart contracts or anything digitized like someone registering their car title on the blockchain. So...it’s not quite like Google where you search for facts. It’s more of a system for looking up the status of and exploring new blockchains and DApps being used. As the ecosystem evolves, exploring DApps and the overall use-case of Nebulas will become more viable.
There are centralized websites that already rank and allow users to search for DApps. State of the Dapps is one example...pretty cool site. So, Nebulas will need to compete with these sites and demonstrate how a decentralized version is better. One example could be that they protect user data and privacy, which would be an interesting upside. Now, when you search for porn DApps, your family members won’t see ads related to that :)
Here are the main features that Nebulas shows off...and in our opinion, explains horrifically:
Nebulas Rank - This shit is a means to rank different blockchains...which will let users find the best DApps for their needs.
Nebulas Force - They call it a ‘fundamental self-evolving mechanism for blockchains’ which is a shitty f***n explanation, per usual in this space. So wtf does this mean? It’s really just jargon saying that they will improve the technology over time and allow for more flexibility in smart contract creation and editing in order to avoid forks and shit. This is a pretty soft goal in our opinion and comes across like BS the way they explain it.
Search Engine - This will allow users to search for DApps and smart contracts that fit their needs.
Lightning Network Wallet - This allows users to swap their NAS for other lightning enables coins/tokens.
Proof of Devotion (PoD)/Developer Incentive Protocol (DIP) - This is actually pretty cool shit. These two pieces, while distinct, are working hand and hand to reward developers and participants for contributing to the network. Imagine if Apple’s app store rewarded developers for creating quality applications (even free ones) and bringing attention to their platform. This is essentially what Nebulas is doing. They are rewarding loyal devs who deploy DApps on their platform, with hopes that they will stay loyal and continue to release more quality applications. We will say that “Proof of Devotion” is a shit phrase btw.
Who tf is behind this shit?
They have a solid team. Hitters Xu is the head honcho. The big dog. El jefe. He was on the founding team of AntShares (NEO) and was director of the Ant Financial Blockchain Platform, a company affiliated with Alibaba. He was also part of Google’s search and anti-fraud team, and founded FBG Capital (an early crypto fund), among many other things. SO THE DUDE’s A F***N BALLER.
His two other chief executives, Robin Zhong (CTO) and Aero Wang (COO), also have deep roots in the industry. Zhong was also part of Ant Financial’s Blockchain Platform, and was involved in some of the first blockchain efforts in China. Wang is also a co-founder of NEO and a serial entrepreneur in the space.
Still...while we see the value in NAS and believe in the team, we think there might be a timing issue. Most DApps are not being used at all. Many DApp projects do not even make it to fruition. We still have many obstacles to jump through for mainstream adoption, before people care to search for and discover new blockchain applications.
Overall, we rank this is a low-tier shitcoin simply due to the high risk use-case associated with it. As the crypto-verse comes to fruition and the need for NAS’s efforts become more in demand, we hope to see them rise. We as techies understand the use-case, but we fear the the general market does not...and the market speaks for itself. Maybe this is a low-tier shitcoins that can help you reach moon!
As mentioned, we plan on doing daily coin reviews M-F, so this is one of many...calm your shit.
HODL strong and chat soon.
- Mike and Aaron