A couple weeks ago I covered Neblio because it won the poll on my twitter. I also chose to cover it because one of my friends from the CryptoBasic Podcast is a big fan of the project as well. I will say, the community is extremely involved because I think it was the most active poll I've ever had.
Intro
Neblio is a decentralized application-centric blockchain platform. They are focused on bringing businesses on to the blockchain. Neblio wants to make it easier for businesses to begin developing and using dApps by removing the barrier of a steep learning curve that comes with creating dapps from scratch. They’re going to do this by providing users with a suite of RESTful APIs in almost all popular programming languages. These APIs allow programmers to interact with the Neblio blockchain in an intuitive manner.
What is a RESTful API? I had no idea so I did some googling.
Let start with what a regular API is: API is an acronym for Application Programming Interface. This is a software intermediary that allows two applications to talk to each other. Each time you use an app like Facebook, send an instant message, or check the weather on your phone, you’re using an API.
Right so then what is an REST api? This is an acronym for Representational State Transfer. And it is designed to take advantage of existing protocols by being able to be used over nearly any protocol. This means that developers do not need to install libraries or additional software in order to take advantage of a REST API design. Developing distributed applications on the platform help you store, access and utilize the platforms’ information and data quickly. You can also manage you nodes with ease and create custom made apps depending on your client needs.
Project History
Neblio was created in 2017 by it’s lead developer Eddy Smith who holds a bachelor’s degree in computer science and has a large amount of experience in the software development. Ann Jackson is the project’s business ops manager. She holds an MBA and has previously worked as a head for various supply chain operations, marketing, and business teams. One of the notable things about Neblio is the development team’s ability to deliver on their promises. At the time of the ICO, they had a wallet ready and within several weeks they had an android app. One thing I’ve heard consistently is the community is extremely pleased with the speed and delivery of the team.
ICO
The ICO ran from August 6th to August 20th of 2017. The ICO price was $0.20 in USD and there was no personal minimum or maximums on amount of tokens that could be purchased. There were 125 million tokens available. The team stated what was not sold would be burned. Also if the team wanted to participate in the ICO, they had to purchase their tokens like everyone else. There was no team allotment. After the ICO ~13 Million tokens are in Circulation meaning the team burned over 112 Million Tokens. The only way new NEBL tokens will be created going forward is from the 10% annual staking rewards.
Technology
Neblio is an open sourced proof-of- stake project. The Neblio ecosystem runs on its own blockchain and is driven by the NEBL token. Neblio has a blocktime of 2 minutes and a block reward of 10% of your staked tokens. The current transactions per second is 25-30. The team states this is to keep the empty blocks to a minimum. The project is capable of being scaled as needed.
Neblio has very specific goals, these are to create:
- Blockchain with Virtually Limitless Applications
- Customizable Tokens
- RESTful API Suite for Easy Integration with Existing Systems
- On-Chain Token Swaps and Decentralized Exchange
The main component of the Neblio project is the Neblio API Suite functionality. Businesses working with Neblio will create NTP1 tokens on the Neblio blockchain (like ethereum with it’s ERC-20 tokens). Businesses will do this in order to power their dApps, which can then be used in a broad range of use cases. The Neblio API suite makes it possible to generate functional blockchain-based distributed applications in 8 different coding languages.
In December of 2017 they released another wallet for a special device called Docker. During this process, they developed an optional feature called Quick Sync, which allows a node to download a secure, highly compressed copy of the blockchain. This means you don't have to wait days or eventually weeks for the blockchain to download. The Docker container will allow any data center or cloud service provider to download and deploy a Neblio node. And because of Quick Sync, this can be done in under a minute. That was something that stuck out to me as important because in my experience with some of these projects that have been around for a long time, the wallets can take days to sync and its pretty horrible.
Present
Neblio sits at number 152 on LiveCoinWatch with a marketcap of $48,709,643. Neblio can be found on Binance, Kucoin, HITBTC and Cryptopia however its worth mentioning that OEX accounts for approx. 76% of its trading volume. They now have wallets for Windows, Linux, Android and Mac. They have an iOS wallet (currently in the approval process), as well as for the mini computer Raspberry Pi. They recently released their web wallet named Orion. It can be used to send, receive and store your tokens as well as creating and transferring NTP1 tokens. If you’re interested in actually utilizing their suite of functionality you can do to their hub of information called “Neblio University”. There you can access all their APIs and technical documentation.
They recently partnereted with Kind ADs. Kind Ads is an advertising platform that serves user-friendly ads without taking any middleman fees.
Future/Upcoming
The Neblio Roadmap shows that they have already released an Electrum Lite Wallet as well as an Android app. The Neblio iOS app has been submitted to Apple for approval on the App Store. They’re finalizing the RESTful APIs for interacting with the Neblio network and made mention in their recent medium update that they are gearing up for a Q2 2018 marketing campaign launch. They recently tweeted that the Neblio API Suite and Docs v1.2 and SDKs for all 8 languages is live at Neblio University. V1.2 Adds new parameters to existing NTP1 APIs and adds Insight API compatible endpoints for both mainnet and testnet. Neblio aims to implement and deliver the final Neblio API Suite v2 solution by Q4 2018.
Neblio may not be making any cutting-edge advancements in the development of blockchain technology, but they are streamlining the process of creating and integrating distributed apps far cost-effective to large-scale businesses, which will ultimately drive further cryptocurrency adoption. With the Neblio marketing campaign about to launch and a beta launch of the Neblio AP Iv2 solution inbound, Neblio could potentially make a significant impact on bringing blockchain tech into the mass business world.
They have a website made by a community member that also lists all the ICOs, or current projects running on the Neblio blockchain.
Pros
- No frills - all the information I looked for was present and easy to find. They’re not promising the world with this project either. They have picked very specific problem to solve and they’ve done a great job so far.
- Neblio’s marketing materials and white paper were not overwhelming to read like other projects, taking care to explain what blockchain tech is— this was surprising to be because most teams do not present their content this way.
But it is in line with their attempt to appeal to the large-scale business demographic that the platform is focused on serving. - Unlike other projects trying to compete for use as a platform, Neblio has a working project and they’re continually making deadlines, or even being early on promised deliveries.
And their community is obviously very passionate about the project based on the response I received on my poll.
Cons
- Strong competition. Ethereum, Lisk, Neo, Eos: These are just a few of the big names that Neblio is competing against. And the competition is certainly stiff.The good thing is that Neblios tech can compete with the others and again they have a working product.
- Marketing. I knew nothing about this project prior to researching it. I haven’t seen it spoken about much, or been in the limelight at all. It would obviously benefit their project if people knew more about them.
- Team size: Right now the team and developers for Neblio is small. Although they have been doing an amazing job meeting deadlines, this turns people away when they don’t see many developers and prominent advisers like the big platform guys have.
The good news about these cons as they’re all easily improved upon with a little more exposure and growth by the team
Final Thoughts
During my research for this project I realized why I had never looked over it before, as I mentioned under the pros - there's no “frills”. The project chose a problem to solve, and is doing their best to accomplish that. So far so good. There is nothing glamorous about bringing large enterprise solutions to the blockchain but it is important work. Decreasing entry barriers for larger companies to bring in new fiat is important for crypto as a whole.
This is one of those projects that is important, but because they’re not promising to reinvent the wheel it doesn’t get enough exposure. All in all I think it’s a great project with good goals, and an efficient team.
If you're interested in watching my original video on it, check it out here:
$NEBL Donation Address: Ne5aYA1zVrqmmw5RB8uNaQSNn1fotfUi8d
Neblio Links
Website: https://nebl.io/
Roadmap: https://nebl.io/roadmap/
Whitepaper: https://nebl.io/wp-content/uploads/2017/07/NeblioWhitepaper.pdf
Twitter: https://twitter.com/NeblioTeam
Reddit: https://www.reddit.com/r/Neblio/
Burn Address: http://explorer.nebl.io/address/NXsZ1sAz2uHGxYK2rpXRhNfDnHa1NxRy1r
https://nebli.co/
Sources
https://cryptoslate.com/neblio/
https://cryptorecorder.com/2018/02/28/what-is-neblio-nebl-a-simple-guide-for-beginners/
https://nebl.io/2017/07/01/staking-explained/
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