Nebulas’ First Reddit AMA Recap
Nebulas’ first official Reddit AMA ended on Feb. 24th. We’ve received about 100 questions and have answered 24 of them. There are more than 2400 people online at most during the AMA, many of them have asked follow-up questions. For more detailed info please click here to vist our AMA webpage on Reddit. The post is now locked so please save your questions for our next AMA :P.
We will hold more similar events to strengthen our connection with the Nebulas community. Stay tuned for our tech AMA answering all the deep tech questions real soon.
Below are all the Q&As during this AMA that we’ve put together:
- datdupe 44 points
Hi Hitters — can you explain how you and the team plan on integrating DAG into the Nebulas architecture? I saw Robin and others discussing DAG which is exciting, but as far as I know it’s not mentioned in the whitepaper.
Does everything still seem on track for end of q1 release? This project is more exciting to me than any of the others I follow, appreciate you doing this AMA
In most blockchain systems, transactions are executed serially, one after another. We are trying to implement a parallel execution model into Nebulas to boost the performance in multi-core/multi-cpu system, improving the TPS to fulfill the tech requirements of new scenarios.
In the new model, DAG is just chosen as the data structure to record the dependencies and orders of transactions during executing them parallelly.The scenario of DAG in Nebulas is not the same as with IOTA. We hope that this parallel execution model could help other blockchain systems boost their performances. After the new model has been verified on Nebulas, we will submit it to the Ethereum community.
Everything is on track, stay tuned for mainnet launch at the end of Q1.
2. goldenorangex 38 points
Hey Hitters, I’ll make this plain and simple: Can we get a synopsis of how/when Nebulas will market themselves to the masses?
I’m a huge supporter and believer of NAS! Keep up the great work.
Nebulas highly valued the impact of community. Our team will be initiating a new round of rebranding before we launch our main net at the end of Q1. A brand new web page titled “Go Nebulas” will be newly featured, providing more opportunities for all tech or non-tech community members to better contribute to our society.
3. Cvrmvrtvr 20 points
Hi Hitters, Regarding the POD algorithm, can you talk about the specifics of “highly important accounts” and the possibility of becoming a bookkeeper, particularly if/how there will be any benefit to large stakers of NAS who are not active developers on the Nebulas blockchain.
Is there potential for stakers of NAS to partner with Developers who are working on projects they believe in, so they can share in the benefits the POD algorithm will bring a successful App/highly important account?
Nebulas Rank and Nebulas Force are build on the PoD algorithm. Via Nebulas Rank, we will be able to source for experienced developers.
Unlike POS, the underlying logic of PoD itself is against extra bonus for stakeholders. Existing consensus mechanism PoS give bonus to stakeholders. It will make the rich richer and eventually, harm all individuals within the ecosystem in the long run.
On the contrast, PoD is designed as a positive feedback consensus mechanism which encourage efficient uses of system. As believers of blockchain, we prefer to redistribute our resources to those who aid in the construction of Nebulas economy. Stakeholders can choose either to hold their assets or to reinvest them. Either stakeholders, developers or investors can be benefit from the growth of ecology.
Technical details with regards to PoD will be further illustrated in the upcoming mauve paper, due end of Q3 in 2018.
4. achair119 20 points
Hi Hitters. Make a long story short:
Question 1: Is the calculation & confirmation of NR & SCS value centralized or decentralized? If decentralized, how does main net reach consensus on these values?
Question 2: As defined by whitepaper, total number of NAS token is 100,000,000. Bookkeepers get 4,000,000 each year, while developers get 1,000,000 each year. How to keep incentive when all tokens are released?
Q1 — NR & SCS are both decentralized. Using merkle tree, they’ll be stored on chain with bits of bytes. Then every nodes can verify the result very quickly. More details, such as the completeness and feasibility of NR, will be released in our technical yellow paper later.
Q2 — You can think of Nebulas as a non-inflationary economy. The system’s own issuance is just to ensure that the consensus mechanism works and to ensure that the economy is not deflating, just as bitcoin and ether mining mechanisms.
Thus, our economic model also uses an inflation model that initially plans natural inflation of 4 million tokens annually, of which 3,000,000 are rewarded to bookkeepers and 1,000,000 to developers. Eventually, all base protocols of Nebulas are recorded on chain, the final inflation ratio can be adjusted by community votes.
5. Macintossh 19 points
Thank you for doing this. From the moment you left the NEO team to coming up with Nebulas and until now, what are the biggest difficulties you have faced?
What are the next steps for the Nebulas team to push adoption of this platform?
Frankly speaking, there are no “biggest difficulties” as we face new challenges and fast developments in the blockchain industry on a daily basis. We just have to deal with them constantly.
Seasoned industry players usually plan ahead, predicting and preparing for unknown. Blockchain is a fast growing organism with its own consciousness. As blockchain insiders, we should be fully immersed in this industry and get ready for any challenges, even to lead a revolution. These are what keep you going in tough times.
For your second question, our culture revolves around 3“E”s — “Explore, Embrace, Enjoy”. We encourage more people to explore the endless opportunities, embrace all the awesome applications and enjoy the fun of blockchain.
If we put Nebulas as the Android system in blockchain world, we encourage DApps build on our blockchain, especially those targeting users and traffic such as decentralized digital marketing (i.e. Google adwords), decentralized payment methods and decentralized social network. These are all very interesting projects Nebulas will wholeheartedly support.
6. Cvrmvrtvr 19 points
Will ICO projects be able to launch on the Nebulas blockchain?
First of all, Nebulas is an open sourced public chain project. Nebulas is capable of supporting all functions offered by Ethereum today including issuing tokens and running smart contracts. We encourage developers to develop DApps on Nebulas to build up the ecology.
Furthermore, Nebulas provides creative solutions for the concerns and problems of ICO:
NR will allow investors to make more informed decisions on ICO projects. NF can help developers and communities initiate projects and issue assets in a less frictional and controlled manner. DIP will support and encourage developers to contribute to the ecosystem.
7. flava-dave 17 points
Hi! I really enjoyed the talk you gave recently on smart contracts and how we need a way to gain value from them in order to really benefit from the technology.
My question is: what do you see as being the first widespread use of smart contracts? Will smart contracts ever be something a normal (layman) person will actively create themselves? Or will smart contracts be mostly things that happen in the background of our lives, mostly seamlessly and unknowingly to us while we do things like exchange digital currencies, etc.?
I think token sale is the first widespread use case of smart contracts. I believe that there will be more use cases for end users in the future.
8. sangminpny 17 points
Q1: Do you have any more partnership news? I am a huge NAS believer wrt technology, but not all the best technology survives. Most widely used do. So I am curious whether you have any solid upcoming partnership.
Q2: What is the target performance? I believe that the one with the best scalability will likely survive better. Does NAS perform better wrt other competitors (e.g., tps)?
Thanks for your time!
Q1 — Our partners must be the true believers of blockchain. We need more practice and exploration. So recently, several important partners will be announced. And we will make essential technical practice and breakthrough with these partners.
Q2 — In our testnet, we get 200+ tps. We’re continuing to optimize the performance of Nebulas in order to support more applications on Nebulas.
For more technical interpretation, our tech team will share more articles before the release of our mainnet. Please stay tuned.
9. duanesmallman 13 points
Besides Nebulas’ area of focus, in your opinion what are some of the largest unsolved problems in the blockchain space right now?
Blockchain technology is not created to solve any specific issues; blockchain technology is created to make the world more interesting. Yet, the largest unsolved problem in the blockchain space now is that it is not interesting enough to attract everyone into this space!
Similarly, in the early days of internet, bandwidth was very limited. As the internet got more interesting, more people got involved in it and it motivated the internet to be even more interesting, competent and efficient — the internet went into a spiral evolution.
Currently, many people think that the problem in the blockchain world is all about efficiency e.g. TPS. I think it is more than that. Hence, overemphasize on “efficiency” is meaningless. Only when it becomes more interesting, the blockchain industry can self-evolved. In the conclusion, unsolved problems in the blockchain space is how to benefit common people by blockchain technology.
10. Cvrmvrtvr 30 points
Why did you and Aero decide to start Nebulas and not stay with NEO?
A: I’m actually planning to write a book with Aero recently, to share our stories in the blockchain industry with the community. We built China’s very first blockchain community, BitsClub, together and we incubated China’s early blockchain projects together, including NEO. As blockchainers from the very beginning, we have lots of geek stories to share.
We’ve left NEO before founding Nebulas. We didn’t leave NEO for Nebulas. These are two unrelated matters. All efforts I’ve made is to prove the blockchain vision, including when I joined Alibaba’s blockchain department to set up Ant Financial’s Blockchain Platform.
We chose a most challenging way to seek my role and mission in this industry. Nebulas comes from the summary and thinking of the entrepreneurial practice in the blockchain community for a long time.
11. Cvrmvrtvr 12 points
On your website you list Loopring as a partner, what are your plans for collaboration and is Daniel a personal friend?
We are both ex-Googlers who got involved in blockchain since the very beginning. We’re very interested in Loopring mechanism and we are looking for an in-depth cooperation.
12. CryptoEucalyptus 11 points
Hi Hitters, can you elaborate the current and the further Token-supply and give us a timeline about when the fully supply of 100.000.000 tokens will be circulating?
Current: 35.5 Million NAS in circulation today
In 20 days after main net release: 45 Million NAS(Bonus will be unlocked)
20 Million NAS vested to Nebulas team will be unlocked across 3 years, 33.3% each year. Remaining are Community reserved NAS, which will be released according to Nebulas’ operational expansion and ecosystem construction. We will publish announcements before that.
13. Kingholland4 9 points
Dear Hitters Xu, Are you starting a marketing campaign soon? Do you listed Nebulas at other exchanges like Bittrex or Binance? Best regards From Switzerland
We hope that after the launch of our mainnet, Nebulas can be accepted and supported by more communities as a blockchain of full functionalities.
14. CryptoWhaleRider 10 points
I would just like to know what the average nas supporter can do to help the project?
Nebulas comes from the community and serves for the community, so we pay much attention on community building. We attach significant importance to the interaction with our community.
A thriving community is a must and a drive for successful blockchain projects. Our specific plan to better work with community supporters will be released in no time. We call it “Go Nebulas”.
15. celebimit 9 points
Hello Hitters, one of the most fascinating and least discussed features of Nebulas is the Nebulas Wormhole.
It is mentioned in the white paper that data and assets can be exchanged between side chains and the mainchain through the Nebulas Wormhole feature. When a user searches for a DApp or smart contract through Nebulas Rank, will they be provided with results only on a specific chain or can they find results from multiple chains ranked side by side?
If DApps/contracts are written in the future that allows interoperability with a DApp/contract from a different blockchain(something similar to atomic swaps), will users be able to search for data from those blockchains as long as all of the information required for the Nebulas Rank protocol are provided through the Native DApp/contract?
Thank you for the hard work from you and your team! You guys are creating one of the most powerful blockchain technologies of the future.
Great questions! There will be a tech AMA to answer deep tech questions. More details about NR will be released in our yellow paper at the end of June, 2018. Subchains are related with Nebulas Force, and more details about NF will be included in our green paper at the end of 2018.
16. NebulasInvestor 14 points
Hi Hitters, the whitepaper says that ‘influential’ investors will be able to serve as bookkeepers.
How many NAS tokens will one be required to hold in order to be considered ‘influential’?
We are still working on this aspect. You can follow Nebulas Wiki on Github: https://github.com/nebulasio/wiki or participate in our #developer channel on Slack: https://nebulasio.herokuapp.com/. More details about NR will be released in our technical yellow paper at the end of June in 2018.
17. satoshibytes 7 points
Hello Mr. Xu,
While I am a big supporter of Nebulas and the cryptocurrency as a whole, I see the current state of the crypto community as being in a perpetual state of either fear or unrealistic expectations which leads to more fear. I have read a lot of your articles/posts and I share your vision for the future of cryptocurrency.
What do you think we can do as a community to become more connected and remove some of the uncertainty around the future of Nebulas and crypto as a whole?
Opportunities exist in times of uncertainties, which is the beauty of blockchain community today. With the blockchain world rapidly growing, in line with our vision, we want everyone to embrace these uncertainties with us. Technologically, we will continuously attempt to solve these current day challenges, and those in future.
18. spiritbombzz 6 points
Hi Hitters Xu,
In one of your interviews, you make the statement that you and the Nebulas Team started as nobodies and finally, are still nobodies (Which made me chuckle). You also said that Nebulas is trying to give something to the nobodies (such as myself).
My question is: Will there be a time when we become somebodies?!
Final notes: keep up the good work. The Nebulas team has my full support. It is the only project that I am following closely and truly believe.
It does not matter whether you’re somebody or nobody in the decentralized world. The important thing is what you believe and what you want to do. If nobodies all work together, we can achieve something great.
19. CryptoEucalyptus 6 points
Hi Hitters, can you explain how the swap from ERC20-tokens to the final NAS-tokens will happen?
The swap from ERC20 to NAS will happen after we launch our main net. A guide on how to convert will be provided soon. Stay tuned.
20. dallas_barr 7 points
With the mainnet (hopefully) coming soon, are you planning on recruiting extra developers in order to speed up development? Or maybe recruiting in other departments like marketing — it’ll take some marketing to promote DIP and make people develop on Nebulas?
Will NR be available on the Testnet anytime soon? I’d love to see a POC of NR on the testnet and I also think it will help people understanding the NR concept.
Yes, we are recruiting! Nebulas is consistently on the lookout for developers, PRs and designers to maintain its fundamentals. Nebulas is an open source project for the blockchain community and we sincerely hope that community members can contribute and assist us continuously to further improve Nebulas!
NR is an important infrastructure of Nebulas to be featured on our main net afterwards. More information regarding NR will be published in our yellow paper in June, 2018. Stay tuned.
21. schlinglebop 3 points
Is there a plan for smart contracts built on nebulas to run on side chains?
What is the subchain support referred in the roadmap?
(Roadmap: “Long term goals” lists “Subchain support” — https://github.com/nebulasio/wiki/blob/master/roadmap.md#long-term-goals
NF will be able to fully support side chain development (e.g. smart contracts and migration of data). Queries with regards to NF will be further clarified in our upcoming green paper. Stay tuned.
22. Cvrmvrtvr 4 points
What do you think would be the implications on Nebulas if a company such as Google decided to move into the blockchain space? and do you expect this to happen at some point?
We are definitely thrilled to see that! More people will follow and use blockchain if Google decides to move into the industry.
Nebulas Ranking is open sourced so we look forward to having Google in blockchain and we welcome Google to use NR for further development of the blockchain ecosystem.
23. wertykevin91 2 points
Hi Hitters. I was wondering if Nebulas will organize events like hackathons or even competitions in the near future to cultivate some interest amongst developers?
Yes! We are sponsors for the upcoming Hackathon held by Consensus 2018. Stay tuned to our official website for more information.
24. btc_hopeful 4 points
I believe blockchain has the ability to change the world, I believe it will empower those that have no access to what most of us take for granted.
It has already changed my life, not financially, but by creating a sense of hope that has been lacking for over a decade now. I have decided to switch careers, and am going to be enrolling in a coding bootcamp; with the hopes of being able to contritube to blockchain technology in the future. If there is any advice you can lend me or opportunities at Nebulas please let me know as I would love to learn more.)
Since you have mentioned blockchains are global and not necessarily governed by any entity, what other global projects/teams are you excited about? Any collaborations that you can speak of at this time?
Thank you for being a believer in this industry!
At this current moment, I’ll recommend Go and Java. However, it is important that you know more programming languages as it enhances the thought process and your habits of coding.
From the perspective of another blockchain believer, I am excited to have witnessed the progress that blockchain has made on Bitcoin and Ethereum and am even more excited for the possibilities future blockchain projects will have on Nebulas Blockchain. Yes, we believe!