Nebulas AMA with Founder Hitters Xu
Last week, Hitters Xu who founded Nebulas two years ago was elected chairman of the Nebulas Foundation. Shortly after, he participated in a community AMA where questions were posted on the official Nebulas Subreddit. Hitters Xu took this opportunity to communicate about technology, community, marketing and more.
Below are the replies from the community asked questions.
To view the original questions, click here.
Question: When do you expect the buy back program to be completed by?
Hitters Xu: We expect the buy-back to be completed within six months. Additional specific details will be announced. Stay tuned.
Question: What is your plan to provide liquidity / exchanges for US nebulars? I’m kind of concerned about the pending shutout of Americans on Binance. I know the San Francisco office has been closed, but have you considered contacting coinbase?
Hitters Xu: Having liquidity for U.S. users is very important to us. Currently, Huobi U.S. supports NAS and U.S. residents. During this past March, we had a face-to-face meeting with Coinbase and we will continue to communicate with them. If community members have other solutions that they would like to propose, we are happy to consider them.
Question: Thank you for your passion. I am a person who wishes to develop the Nebulas in Korea. However, many people in Korea do not know the Nebulas. The biggest desire of the Korean community is marketing through large exchanges. This is because now we have to go through the process of buying a bitcoin or eth to buy the Nebulas and then moving it to the exchange. Are there plans for listing on Korea Exchange(upbit)?
Hitters Xu: We actively communicate and promote Nebulas and we believe that an ecosystem must be continuously promoted and developed locally. It is a necessary precondition for local users to be able to buy assets via the market. Therefore, we are very attentive about the needs of users in active, native communities such as the United States, South Korea, and Europe.
Question: You guys said (back in 2017) that you hope to become a top 20 blockchain on coinmarketcap. Is this still the goal and what do you see as the most important steps that still need to be done to get there?
Hitters Xu: This is still our goal and further details how will become more clear if I am elected as the chairman of the foundation. Some of the important steps include:
- A vision for Nebulas which include the mining and exploration of data as well as refining the governance process.
- Discover and define more business scenarios for the token economy. We hope to create innovations and breakthroughs during the exploration of token economy, governance and on-chain interaction.
Question: Nebulas is a Chinese project. Don’t you think that this project is only created to succeed in China? Because what I’m personally seeing right now is that the Chinese Nebulas community is growing faster than the others.
Hitters Xu: First of all, I don’t think Nebulas is just a Chinese project although we do have a team in China. In fact, I think blockchain projects are global. Secondly, I do not think that our goal is to only succeed in the Chinese market, however, the unavoidable reality is that users in the Chinese market are more active than any other market in the world in terms of number and activity. As a result, it is important to strongly support the activities of these users.
Question: Are there any partnerships with nebulas planned in the near future? If so, which companies/organizations are you talking to that are interested?
Hitters Xu: At this point, we are not pursuing cooperation with big name corporations that attract attention. Instead, the partners we are pursuing can help define and discover new on-chain business models and more within the blockchain world. We also welcome companies that operate in the Internet industry or those interested in new technology to think about our blockchain technology.
Question: What is the marketing strategy for Nebulas going forward? (We believe in you Hitters, keep up the good work)
Hitters Xu: We will continue the development of the Autonomous Metanet and continue to promote the new asset paradigm via a new project(more details coming soon).
Question: In one of your latest videos you were talking about bottleneck of each Blockchain development and that it comes not from the size of the community or the technology itself, but from the philosophy and vision. I want to ask why the vision and philosophy is the most important thing?
Hitters Xu: Blockchain itself is a subversive innovation. We must continue discovering its capabilities — like Columbus discovered the New World. This will help us better understand it and find new innovations instead of being limited to existing ideas which result in an arms race between projects with little improvement. Whether from Bitcoin or Ethereum, the success of these projects is due to them successfully defining a niche need which created a new source of value and possibilities.
Question: How does Nebulas plan to generate revenue and subsequently profit with its technology focusing on value determination?
Hitters Xu: The public chain does not directly consider the issue of profitability. However, we will continue to develop Nebulas based on its original ideology and the creation of the Autonomous Metanet.
Question: Is nebulas still going to develop cross-chain search engine as was stated at the very beginning of the project development, that gave it an unofficial “the Google of blockchain” name?
Hitters Xu: We will continue to advocate the exploration of blockchain data. Nebulas Rank (NR) is evolving to be more than a simple tool and is becoming a method to help us understand blockchain and it’s users. Under the premise that current blockchain data includes applications that are not yet established nor perfect, Nebulas will first promote the Autonomous Metanet. With this foundation in place, we will promote the on-chain discovery and interaction of value which is a holographic data and multi-dimensional relationships.
Question: Could you tell us a bit more about how you see the pod working will everybody be able to profit from it or only ppl with a high nr?
Hitters Xu: Designing the consensus mechanism is critical for a public chain project. We still plan to focus on PoD this year and I hope that there will be a mature solution that can be discussed and share with the community in 2019. The essence of PoD is the recognition of contributions from the perspective of the public chain. If only people with high NR can profit, it actually violates the design and ideology of PoD. High NR is just one factor and we have not ruled out other data dimensions. Additional information will be shared once the mature PoD solution is available for review.
Question: Why there was no Green paper release on 30th of June according to the roadmap?
Hitters Xu: Some of the technical details and information contained within the Green Paper have been released in our technical documentation repository. At this time, there is no additional content to be presented pertaining to the Green Paper. All papers published by Nebulas are overviews of the end goal and objectives; they do not state what Nebulas itself must complete.
Question: How Nebulas is planning to implement/make it accessible the NR for all the blockchains in the future ? Meanwhile, what current companies/industries outside the blockchain industry could use the NR as a measure of their consumer behaviors and assets value and is Nebulas will propose its service to this companies ?
Hitters Xu: For NR to be successful, we must find effective business scenarios and have useful data on Nebulas. NR needs to be robust enough on Nebulas so it can be promoted to other blockchains in the future. At present, I think it is unrealistic to expect corporations outside the blockchain industry to utilize NR.
Question: When will we see NAT implementation on Go Nebulas?
Hitters Xu: The NAT program is an opportunity to practice governance on Nebulas and is still an experimental project that we incubated. Go Nebulas is our established platform and direction. NAT is still far from mature enough to be implemented on Go Nebulas. We will not rule out the possibility of voting on Go Nebulas via NAS or other assets. The starting point for all of this comes from our thinking and attention to the effectiveness of governance.
Team and Hitters
Question: Why Aero Wang, Ruby and others suddenly left the team? Is it related with changing ways in development?
Hitters Xu: Nebulas has been in development for over two years and it is normal for some to leave during this time period. Regardless, further development of Nebulas has been pushing forward. I have also put forward my proposal for the future of Nebulas in the Presidential election of the Nebulas Foundation. Please take a look at it to see specific campaign ideas at: https://nebulas.io/foundation/detail.html?id=1
In addition, related projects is also under way. Among them include a Nebulas Financial report that will be released in early August.
Question: When Robin Zhong (Co-founder) will be back from extended vacation?
Hitters Xu: As far as I know, Robin is currently working with another blockchain startup project. We respect his choice and thank him for his contribution to Nebulas.
Question: Are you planning to do something like EOS with block one an corporation into nebulas ?
Hitters Xu: There is no such plan in the works at present. What we want to promote is original innovation via blockchain and further exploration of the token economy. With this in mind, we will not launch an enterprise organization.
Question:What was the biggest problem you faced during the development of Nebulas? What big problems do you think might come in the future? And also what is the biggest problem nebulas need to solve to become a successful project?
Hitters Xu: I think these three questions should be one question: What is the future success of Nebulas? Nebulas’ success should come from a new understanding of blockchain and a breakthrough based on this new cognitive new model and paradigm. Only when we discover and define a new paradigm that are widely accepted, Nebulas as a public chain will maximize its value. Just as Ethereum defines smart contracts and Bitcoin defines e-cash.
Question: What’s your most embarrassing moment?
Hitters Xu: The problem itself makes me feel very embarrassed, haha.