About Nuls (NULS)
Hi there! Let me tell you about Nuls, a decentralized, modular network that can be adapted and
customized to fit your needs. It's also open-source and uses a Proof of Credit (PoC) consensus
mechanism. What's great about Nuls is that it has a unique, modular-based system which allows
developers to create and implement modules easily and using any development language they want.
There are so many modules available, including smart contracts, microservices, cross-chain consensus,
and the multichain system. The Nuls team has focused on flexibility and customization, with the mission of
setting a new industry standard in enterprise-level blockchain adoption.
Where did Nuls (NULS) come from?
Nuls was launched in September 2017 and is based in Singapore. Instead of an Initial Coin Offering (ICO),
it had an airdrop where 40 million NULS tokens were dropped right into the Binance Exchange platform
when the NULS price was approximately $0.1 per coin. Since the beginning, Nuls has always been a
favorite among sponsors, and the project is still actively supported by the community and business
partnerships. The original founders were Lin Yang and Lily Wang, who were leaders of the company until
July 2018. Liesa Huang then took over as the CEO until late 2019. Now, NULS is being run by a board of 11
directors who make decisions about the future of the project. Reaper Ran should also be mentioned as a
co-founder.
What are the advantages of Nuls (NULS)?
PoC PoC is a dPoS (Delegated proof of staking) derive scheme. One of the biggest features here is a
mechanism that punishes misbehaving nodes automatically. These nodes get "yellow cards," which
means they will receive fewer rewards for a certain period of time. If nodes get too many cards, then
they can be expelled from the network.
NULS Smart Contract Smart contracts are made in JAVA currently, but modules can be written in any
language (for example, the consensus mechanism).
Microservices Architecture Since the beginning, Nuls wanted to be flexible enough to be improved
and developed alongside the continuous extensions in blockchain technology. In Microservices
Architecture, each module is an application by itself that talks to other modules using a standardized
protocol. As each module is an application, developers have the liberty to write them in any language
they want.
Multi-chain SystemInstead of keeping all programs on the main chain, the network was divided into
the main and several sub-chains, which still depend on the main chain. Together, they make up a
multi-chain system. Therefore, an interchain communication system, cross-chain consensus domain
(C3D), was created.
FastNULS can process 800 - 1000 TPS and has a 10-second block creation period.
ExpandableAnother blockchain called NerveNetwork was created using Chainbox tool that opens
NULS to the DeFi race. Nerve has 2000+ TPS, it requires 2 seconds for block creation, and more
importantly, just 1 confirmation to be considered secure.
What are the disadvantages of #Nuls (NULS)?
Not common As Nuls is not one of the top-10 cryptocurrencies yet, it faces strong competition with
other Dapp cryptocurrencies, so Nuls may be lost among industry giants.
Volatility Even though every cryptocurrency is highly volatile, NULS stand out as being extremely
unstable, even in comparison to other cryptocurrencies.
