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Nebulas selected by China’s MIIT in Global Public Chain Evaluation

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SAN FRANCISCO, June 19, 2018 /PRNewswire/ — Last week, the CCID Blockchain Research Institute under the Ministry of Industry and Information Technology (MIIT) in China released the initial list blockchain projects included in its Global Public Chain Technology Evaluation. Nebulas is selected as one of the projects on the list.

The Global Public Chain Technology Evaluation aims to provide an objective review of the technological development of the top global public blockchains, and increase transparency into blockchain trends and innovations. The evaluation index will be released regularly every month. This will also provide consulting services for governments, enterprises, scientific research institutes, and technologists.

At the moment, 30 projects have been chosen by the MIIT for evaluation, including Nebulas, up from 28 projects during the last evaluation round. Selected blockchain projects were handpicked by MIIT and did not apply to be included on their list of projects to be evaluated. It appears these 30 projects are prioritized because of the limited energy of the assessed staff. Currently, other public blockchain projects cannot apply for inclusion in the evaluation.

However, it is expected that applications will be opened in August for other blockchain projects to be evaluated by the MIIT, after the current batch of assessments concludes. Public chain projects cannot apply to be included in the MIIT evaluation, and the evaluation criteria will be selected by the Public Chain Technology Evaluation team. It is expected that the application channel will be provided by August to accept applications from the public chain teams.

Why has the MIIT blockchain institute selected Nebulas?

According to the technology evaluation FAQ, the selection of global public chain technology evaluation targets has strict criteria. Only public chains that meet all the criteria can be included. The technical evaluation of the public chain considers the basic technical, applicability and creativity of a public chain. These criteria correspond specifically to the MIIT evaluation model: B (basic-tech ), A (applicability) and C (creativity):

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Basic-tech. In the evaluation of basic-tech, it mainly examines the applicability, basic performance, safety and centrality of public chains. Within, performance is investigated from the aspects of block efficiency, network throughput (both theoretical and practical), transaction fees, etc. In the security level, the existing evaluation model focuses on architecture security, consensus security, digital signature and account security.

Applicability. In the application-level evaluation, the Season 1 evaluation model mainly focuses on the user scenarios supported by the public chain, the number and applicability of wallets, and the development support of the public chain.

Creativity. In the evaluation of creativity, it mainly examines the scale of public chain technology innovation team, code update and code influence, etc.

The MIIT blockchain institute believes that the model of combining public chains and dApps will be very important. Based on the current assessment model, the public chain that provides smart contract functions will have a higher score. This is in line with the current development path of Nebulas.

Particularly, the Global Public Chain Technical Evaluation has its eye on blockchain projects that are open to the whole society. The evaluation points involve the tech-development, user scenarios and continuous innovation ability of the blockchain.

In the same way, Nebulas is a next-generation public blockchain, aiming for a continuously improving ecosystem. It has an original blockchain value discovery system, future-oriented incentive, and consensus mechanism, as well as the self-evolution ability to avoid hard fork. Nebulas mainnet was launched in March this year and has operated for nearly three months. Currently, there are about 3,000 dApps on the mainnet, which surpasses Ethereum in number, and high-quality applications are continuously emerging on Nebulas mainnet.

This Global Public Chain Evaluation program is organized by the blockchain institute of MIIT jointly with the CCID think tank of the Chinese Academy of Telecommunication Industry Development and China Software Testing Center. The consulting team is composed of blockchain experts and professors from China’s top universities such as Tsinghua University, Peking University, Beijing University of Aeronautics and Astronautics, and Beijing University of Technology and are very influential in the blockchain industry.

MIIT was established in March 2008 as the state agency of the People’s Republic of China. It is responsible for regulating and developing the country’s postal service, Internet, wireless, broadcasting, communications, production of electronic and information goods, software industry and the promotion of the nation’s knowledge economy. The agency is also responsible for industry planning, industry policies, and various standards formulation related to China’s domestic information industry.

SOURCE Nebulas

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Can Tron (TRX) follow in the Ripple (XRP) footsteps?

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It’s no secret that the cryptocurrency markets have been in an overall slump, especially when you consider all of the bearish action for bitcoin, ethereum, and altcoins, in 2018, compared to the incredible bull run of 2017.

While many people believe that this is simple consolidation, others paint the narrative that many are unsure about real-world applications for blockchain technology and whether institutional money will flow into cryptocurrencies at all.

Ripple is undoubtedly changing that narrative, recently surging over 80% thanks to its developments and partnerships with financial institutions.

It even briefly took Ethereum’s spot as the number two coin by market capitalization, in a price rally that confirmed a trend reversal and stunned many investors and traders in the cryptocurrency community. The price eventually decreased as Ripple returned to the number 3 spot concerning market cap, but the price movement certainly made a statement.

There are those who have been wondering whether Tron could make a similar move eventually, considering it is a project that has decreased dramatically in market cap, and many consider the coin oversold.

The fact that Ripple made an 80% move that quickly gave hope to other altcoins, and comfort to the cryptocurrency community that may be in the red that not only was it possible to break even again, but all was not lost in the markets, and that they can begin hoping to profit, in the long term.

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Key factors why we may see a big Tron (TRX) boost shortly

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Tron is a decentralized platform that makes use of a Peer-to-peer system for its network. The platform aims to decentralize the web and also change the content (entertainment) industry.

Talking about the blockchain project’s history, Tron was created by Justin Sun – a protégé of Jack Ma. At the moment, lots of contents are managed by middlemen such as Facebook, YouTube, and the likes. But Sun aims to create a system that helps content creators have full ownership of their contents (and of course earn more as there won’t be any middlemen).

Subsequently, Tron aims to liberate the entertainment industry and the contents that are shared in it and also by making sure that there is a system where data can’t be controlled (the true decentralization and security).

It is important to know that Tron (TRX) is also a platform that permits the distribution of digital assets exchange and market forecasts.

What are the advantages that Tron (TRX) brings to the table?

Tron has lots of advantages. Its team of developers is top-notch, and it also has a futuristic leader: Justin Sun. Tron is a platform that helps content creators; its users are eligible for gains distributed by the platform.

Clearly, this blockchain platform was created for people with a great interest in the entertainment world. It is worth keeping in mind that Tron has launched a series of projects that benefit not only the platform but also its…

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Ripple jumps 50% again today, 3 reasons behind current XRP rally

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In the last 24 hours, lots of digital assets in the crypto space have experienced a surge at the rangebound of 2-10%. Nevertheless, the cryptocurrency that is leading in the current wave is Ripple (XRP). Ripple is driving with almost 10% more gains than the others, even the Bitcoin.

Right from Tuesday this week, the price of XRP has increased by 40%. Considering that, Ripple has undisputedly been the growth leader on the daily price trend in the recent ‘nice-little-rally’ this time. It is important to know that its volatility has reached maximum heights since the beginning of this year.

As a result of the rangebound surges that are experienced in the crypto market currently, the total market capitalization totals to $2 billion. More importantly, the market cap of Ripple also reached $22 Billion – almost equivalent to Ethereum’s current market cap of $23 Billion.

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Today, XRP even took Eth spot on coinmarketcap for a while as it became the second largest crypto, which the cryptocurrency couldn’t hold for long (on the third spot yet). At the time of press, Ripple (XRP) trades at $0.5663…

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