Neblio (NEBL) has grown significantly this month, starting January at around $8.24 and going as high as $63.41 this week, a change of almost 770% for the month so far.

What is Neblio and what does it do?

Blockchain is widely regarded as the technology of the future, providing a business foundation that is solid, immutable, and transparent. However, the problem is that most people lack the ability or knowledge to create their own blockchain, so they rely on companies such as Ethereum to build blockchains on top of their platforms. 

While this is a great solution, the coding language of these platforms can be complex or even completely new to them. The implication is that even experienced coders need to learn a new coding language to be able to build on the platform. 

Neblio wants to simplify this process. 

Many of the top 20 projects by market cap are blockchain companies that allow code to be written on top of the base code of projects (developing decentralized applications). Among these companies are IOTA, NEO, Stratis and, of course, Ethereum. Since this space already has well-established players, Neblio wants to win by being easier to use than all of its competitors.

Proof of Stake Mining

Neblio uses Proof of Stake as a mining method, which means that the more tokens people hold, the more mining power they have.

It works like this: instead of having the blockchain validated through the solution of complex mathematical problems, the blocks are validated by a probability of how many tokens you hold.

So, if someone held 3% of Neblio tokens, they would have a 3% chance of validating the next block and claim the tokens for supporting the network. In terms of traditional finance system, it works much like a dividend.

Small Total Supply

Much like Bitcoin, Neblio has a small total supply, but Neblio’s is even more finite as it is limited to 13,124,004 NEBL. 

This is obviously very important because, as basic economics dictates, the larger the supply, the less valuable something is.

Based on all these factors, Neblio has many of the qualities seen in highly successful coins. Time will tell whether it becomes a market darling, but there is no reason why it cannot continue to be a very popular token, particularly if it delivers on its promise to simplify the development of decentralized blockchain applications and manages to attract developers.

You can currently buy NEBL on Binance, Cryptopia, Kucoin, HitBTC and OEX exchanges, and NEBL wallets can be downloaded via the official site for Windows, MAC, Linux and Android.