Nuls (NULS) is a microservice-oriented blockchain project that uses the Proof of Credit (PoC) consensus mechanism. This guide includes details on the future of NULS coin, its project and where it can be bought and sold, starting with what is NULS coin.
Founder and year of founding: Jason Zhang and Lily Wang / 2017
Total supply: 210 million
Circulating supply: 99 million
Market cap: $79 million (December 4, 2021)
Lowest price: $0.04864
Highest price: $8.54
Project purpose: Nuls aims to provide businesses with a platform to build and deploy their decentralized applications to solve real-life problems.
NULS’ main blockchain, implemented by Jason Zhang and Lily Wang in 2017 and is on the Ethereum blockchain, uses a unique consensus mechanism known as Proof of Credit. The PoC consensus mechanism is modular like other elements of NULS and subchains will be able to replace core functional modules as needed. This allows users to customize the rules for their own subchains.
Essentially, this should provide scalability and security to the blockchain while adhering to low-connectivity and high-coherence programming practices. Because the blockchain is designed to be modular, it becomes hot-pluggable and allows modules to be added or removed at any time.
This Singapore-based project seeks to develop a highly adaptable blockchain that can be used for enterprise solutions.
This open source project provides flexibility to developers thanks to its customizable infrastructure. NULS will include cross-chain consensus, a multi-chain mechanism, and smart contract support. Besides creating an unreliable decentralized environment, NULS also allows users to customize the chain according to their needs.
The NULS network and blockchain continues to use all the complex concepts of blockchain such as cryptography, consensus mechanisms, storage, and smart contracts, but are designed to hide these complexities so developers can focus on what they want to build rather than focus.
In this way, NULS seeks to solve real-world problems while remaining simple and accessible to developers of all skill levels. Using customizable modules gives developers the freedom to build without the constraints of technological complexity. NULS is also working to encourage commercial uses of blockchain technology to help it spread faster.
The future of NULS coin?
There are several blockchain issues identified by the NULS team that are hindering the growth and development of the industry. One of these issues is development cost. Because there is a shortage of blockchain proficient developers, those with the skills earn higher salaries. On this basis, it is a simple supply/demand balance. It will eventually normalize as more IT professionals learn blockchain skills. That’s when businesses will see greater adoption of the technology and only the most reliable blockchains will gain interest. Based on this, NULS also works to produce reliable solutions to business problems.
The core team behind NULS consists of 11 members brought together by philosophical ideological considerations; The team’s creators are Jason Zhang (Founder & Lead Developer), Lily Wang (Co-Founder & COO), Reaper Ran (Co-Founder & Community Leader).
What makes Nuls different?
Flexibility: NULS being a very flexible blockchain network, the blockchain infrastructure with other blockchains is highly customizable and modular. A developer can easily install and replace built-in modules with appropriate modules depending on the task at hand. Built-in modules are networking, consensus, storage, and algorithmic modules that can be customized or modified whenever a developer feels they need something different to develop their decentralized system.
Open source code: Developers have the freedom to freely use the code of the blockchain to build their own decentralized. One of the main goals of the team is to ensure that smart contracts support as many programming languages as possible. This way, developers will have a wide variety of options when it comes to building their decentralized applications.
Easy update: Since the modules of the blockchain are customizable, users/developers can easily change or update the modules according to their applications. It is an essential feature, given that technology is constantly evolving. As technology evolves, developers can quickly modify modules to suit the problems at hand.
Smart contracts: The NULS blockchain is based on Ethereum’s smart contracts technology. NULS token is based on ERC-20. Smart contracts also make the blockchain programmable. With smart contracts, users/developers can outline the logistics of any business model decentralized application they want to develop, even with little programming knowledge. Smart contracts already contain specific rules for execution and only require the developer to provide an outline of the logic that the contract should follow when performing their tasks.
What is Nuls Coin?
The Nuls team has avoided holding an ICO and the NULS token aims to help promote the entire ecosystem. Besides transaction fees and rewarding miners, it will also be used to support the future development of the project, empower digital assets on downstream chains, pay implementation costs and support Nuls-based applications.
40 million tokens, or 40% of the initial supply, were airdropped to users. Another 20%, or 20 million, tokens were allocated for the development of NULS. These tokens are to be unlocked at the rate of 5% or 1 million per month for 20 months. 20% of the tokens are reserved for community development and these tokens will not be used more than 4 million times in a year. And finally, 20% of the tokens are reserved to support partnership development and high-quality third-party NULS project development, with no more than 4 million tokens used in a year.
Where and how to buy Nuls coin?
Having a maximum supply of 210 million, NULS has a circulating supply of around 99 million. The token of the project, which has a market value of $ 79 million, reached its highest level in 2018 with $ 8.54. It experienced its lowest level at $0.04864. NULS; It can be traded on crypto currency trading platforms such as Binance, Huobi, Gate.io, KuCoin, OKEx.