Nebulas establishes Academic Fund for Blockchain research and presents paper with Google
Multi-million dollar blockchain project, Nebulas, has announced the establishment of Nebulas Academic Fund. Nebulas Research Institute (NRI) is a collaboration between universities, researchers and the Nebulas blockchain to advance blockchain technology in the world.
The NRI was established in 2018 and has already partnered with 14 Universities across the world. Some of the big University names include the University of San Diego, University of California Berkeley, NUS Singapore, Peking University, Waseda University, etc.
In addition to the establishment of Nebulas Research Institute, Nebulas has also established a new Nebulas Academic Fund. The fund rewards scientific research achievements that have made significant contributions to the development of the Nebulas Mainnet. The reward prize is currently 10,000 NAS token or about $16,000 at the time of writing.
Currently, there are 5 research projects going on with partner institutions. They are “building a new incentivization mechanism”, “exploring trading behaviors”, “Understanding the diversity of data in a blockchain”, “exploration of advertising marketing in P2P applications” and “expanding the distributed ledger technology (DLT)”.
Very few projects in the blockchain ecosystem have realized the potential of university – ecosystem collaboration. Ethereum, IOTA, Arc Block, Truechain, and Nebulas are some of the projects utilizing University researchers to advance blockchain technology. And the results have started to be visible.
Recently researchers from Nebulas and Google published a paper which has mathematically proved the long suspected flaw with blockchain mining algorithms. Their paper was accepted and it was presented at the prestigious Web Conf 2019. More details have been given below.
Nebulas know that this close ties with research Universities across the globe will help it expand and make one of the best blockchain ecosystems in the world.
Nebulas and Google collaborate
Nebula’s researcher Yulong Zeng and Google’s China researcher Song Zuo gave a presentation on their research on The Web Conf 2019 at San Francisco. Web Conf is one of the biggest internet summit in the world.
#Nebulas researcher Yulong Zeng attended the #TheWebConf 2019 and gave a presentation entitled "The Matthew Effect in Computation Contests: High Difficulty May Lead to 51% Dominance." The original paper was completed along side Google researcher Song Zuo. pic.twitter.com/noDZdven2I
— Nebulas.io (@nebulasio) May 24, 2019
Their research outlined how the Matthew Effect can come into the blockchain space. Matthew Effect, a term coined by sociologist Robert Merton, states that the rich gets richer while the poor get poorer.
According to research done by Yulong Zeng and Song Zuo, they explain that due to the direct proportion of the winning probability of mining a block to the computational power, Matthew Effect can be observed in the blockchain mining space.
Although this has been widely believed that the “Rich gets richer” phenomenon exists in the blockchain mining space, it’s only now thanks to Yulong Zeng and Song Zuo that it has been proved mathematically.
The research also proves that if there are multiple solutions to one single problem, the Matthew Effects get weaker. In terms of mining, Multiple Solutions would mean that there is more than one way to mine a block. With more than one way to solve a block, competition increases giving a fair chance to everyone.
Nebulas Rank, the core behind Nebulas is based on the democratic principle of giving a fair chance to everyone. Anyone who interacts with the Nebulas blockchain gets their ranking improved, causing more trust in the system. More the rank, more the opportunity mine and vote.
Nebulas Rank is designed to remove the basic advantage of rich miners/pools who have the resources to take over the network and give the power back to the community. This allows a healthy blockchain community which has been seen lacking in Bitcoin as well as Ethereum.
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