Bitcoin and Ethereum – the pioneers of a new form of value present through a landmark technology provides an almost impossible way to inter-transfer value, thus creating an island of total isolation. But there will come a time when every chain will be interconnected.
The revelation of the internet was manifested through the way it was able to connect many dots together. No one could have imagined the plethora of it’s features we are now benefitting. From the first jubilation of sending the letter “l” and “o” to login before the system crashed, to this very day where gigantic data flowing across the web is now regarded as the “new oil”.
Many impossibilities have became possible right before our eyes.
A new innovation no matter how inspiring brings with it new forms of problems, this could be said of the blockchain technology. This new pattern of structuring and storing data despite it’s huge potentials has done little to connecting the right dots. The manner in which the first blockchain combine advance techniques such as encryption, cryptography, p2p network and consensus algorithm in a unique way ensure more improved work need to be pioneered and directed before it could be ready for enterprise and high consumer use, effectively communicate and inter-exchange materials with other competing blockchains.
Many lovers of the tech are kept on their toes in wait for many breakthroughs. But what if a solution is already cooking in the background waiting to be served all around? What if a single blockchain ecosystem could provide the means to connect many dots (blockchains) together?
This post is intended to introduce a blockchain ecosystem ” NULS” which is established to create a viable working solution that would make these questions be answered in reality.
Some of the current challenges developers face to develop blockchain applications include how to easily deploy their ideas and the lack of readily available access to tools that would aid their work. The working environment and prerequisite such as learning a new programming language required by this space does little to promote the in-flush of talents to start engaging.
Though we have seen many proposed solutions and startups emerge during the recent ICO craze, however, only very few constructed a working platform that really address the need and current constraints of the blockchain technology.
As one of the blockchain of the future era, NULS is taking on an incredible genius approach to tackle one of the nagging limitations of blockchain “interoperability” – removing the restraints that has render existing blockchains an island of self-isolation, while also addressing important needs like security, scalability, decentralization and higher efficiency by constructing a customizable modular blockchain infrastructure design, where effective communication between chains is achieved through cross-chain consensus and other operating mechanism.
Unlike how most existing blockchain function through a single chain operation, the Nuls blockchain will be a chain ecosystem form by the collection of many independent chains each being a representation of flexible modules which parts is undependable on other related modules in its network, which can be customized, upgraded, adjust or even removed base on the purpose and future need of the business or entity.
Why NULS Think Modularity Is Key To Survival
Despite the ethereum blockchain providing much higher advancement and use case over the bitcoin blockchain, it currently lack the technical structure and design to scale accordingly, obviously this is causing a lot of headaches and distress to even the core team behind the project so much that solutions such as Casper and Plasma is taking more time than expected to be implemented due to the nature of how rigid the blockchain was constructed.
Putting this factor into great consideration, Nuls thought the need for a technological system to adapt to future demands due to the ever increasing rate at which technology is developing is very integral to it’s survival. They therefore, adopt the modularity of the Linux kernel to give the flexibility of a dynamic blockchain.
Modularity in this case will provide an easy ground for chains and all related components to be scaled accordingly, be easily adjusted and upgraded to ensure continuous functionality of the particular component. Every single part or unit of the entirely chain system will take the form of a module and can be managed from the “Module Manager”.
Features of Nuls
Ease Of Use: A familiar programming environment ensures developers are able to initiate their project without any technical barrier and meet the time period set to achieve their goals unlike the learning demand required by existing blockchain system before a meaningful interaction can be exhibited between the system and a developer.
Adaptable To Numerous Application Scenarios: modular design of the system encourage fast actionable extension to readily expand applications as required or targeted.
High Performance: using parallel expansion technology, through multi-chain system, millions of transaction can be processed per seconds through the main-chain and sub-chains. Source.
Balance Between Transparency and Confidentiality: one of the major sell-off of blockchain tech is how open activities can be assessed, this in particular is a major advantage to sectors such as supply chain but a major shortcoming to businesses who will want to protect their ways of operation to guard against competing parties.
Nuls with a customisible modules of subchain can achieve confidentiality by data-isolation and cross-chain editing as the need of the enterprise demands.
The adopted consensus mechanism
Consensus makes blockchain possible, it is the set of rules that govern how functions are directed and implemented. Nuls main-chain will be making use of a new type of consensus called “Proof of Concept”, which is similar to ‘Proof of Stake’ as validators are required to stake the native coin “Nuls” to be able to participate in securing the network.
Due to the modularity function of the system sub-chains in the network can have their own customised consensus rules, and the overall system will achieve consensus through cross-chain consensus with the main-chain rule acting as the alpha.
Yellow Card Alert: to challenge validators for any lagging in securing the network, a yellow card signifing a warning will be given to a particular node who has is reported for any significant downtime or experiencing a network failure which penalty will take the form of token freezing for a short period of time (e.g 72 hours) and decrease in credit rating.
Red Card Alert : any node which is found to be run with an evil intent will have it’s coins frozen for a long period of time (e.g a month) and be downvoted below the minimum credit score required to be a qualified validator.
Credit rating is the coefficient that is use to determine the integrity and trustworthiness of a user or validator.
Cross Chain Consensus Node (C3N)
To make communication between chains possible there will be specially assigned nodes that will act as a link or medium where information will be exchanged across different chains, thus – making interoperability between chains a reality.
Nuls Smart Contact and Virtual Machine
Smart contract introduced a new added functions to blockchain, where agreement can be made and executed in a trustless manner without the need of a middle man or third party. The Ethereum blockchain was the first to use this concept which was made possible via the Ethereum Virtual Machine(EVM).
Nuls will be making use of it’s own virtual machine to propagate smart contract functions between modules and allow for more advance use of applications and the system in general.
Nuls Economic Model
The primary standard to measure value within the Nuls ecosystem will in form of the NULS cryptocurrency which will be used to promote the entire ecosystem, to support network based applications, pay for application costs, perform exchange for sub-chain digital assets, support NULS development, reward miners and pay transaction fees. Source
The total supply of the token is fixed at 100 million.
The Nuls coin distribution will take place as follows :
40% of the tokens will be airdropped (40 million) to owners of the ERC20 placeholder token. Source
20% of the total tokens (20 million) will go towards continued development. Once the main net is live, these tokens will be unlocked at the rate of 5% (1 million) per month over the course of 20 months. Source
20% of the tokens (20 million) will be allocated for building the community, and no more than 4 million tokens will ever be used per year. Source
20% of the tokens (20 million) will be used for business partnerships and to support high quality NULS based third party projects. No more than 4 million tokens will ever be used per year. Source
How Nuls is different from other exsiting blockchain
- Endless possibilities to develop ideas by removing the many entry barriers such as a foreign programing language, cost to deploy infrastructures, and ability to run an independent chain which can also achieve interoperability.
- First of a kind in the space using independent modules to construct a blockchain system from A-Z.
- A single system which is able to tolerate the use of various kind of consensus mechanism.
Even the dummies can now deploy a blockchain.
The technical requirement to develop a blockchain is no easy joke that even projects during the recent ICO craze opted for the use of smart contract to initiate their project goal and funding to kick-start their mission as the process of building a blockchain is so time and resources intensive that it may takes months of even year(s) to realise.
Nuls is set out to make this a thing of the past by allowing even common users like you and me deploy a functioning blockchain with the click of just few buttons.
Short on cash to hire developers but would like to see your small project go live on a blockchain? You can now do that with Nuls.
Planning on experimenting with different consensus mechanism to seamlessly work with each other? It is right possible with Nuls.
Have a gaming idea but technically lack the know-how to deploy it on a blockchain? You don’t have to look further with Nuls.
Nuls as an Open-Source Project.
NULS is an open-source project that is driven by the Blockchain community. The open-source nature of the project offers transparency and trust for developers which is vital in building a strong community. The community will provide comprehensive development documentation and fully developed tools to assist and support developer’s. NULS has setup the community foundation with 20 million NULS that will be used to support excellent projects and reward contributors in the NULS ecosystem. The NULS community foundation is registered in Singapore (NULS FOUNDATION PTE. LTD. 201729333G). The main goal of NULS is to promote a community-driven development platform that incentivizes innovative projects to be developed and offers the tools to simplify and fast track development for the developer. Source.
Interoperability between blockchain is a very huge function that has been lacking in the blockchain space. Many limitations placed on the technology and it’s widespread adoption is the result of lack of quality communication between blockchains.
Nuls with the use of it’s modular network design and cross chain consensus will ensure blockcahins cannot only communicate with each other but can also work hand-in-hand and achieve high quality value transfer.
Here are some of the means to know more about the project