Nuls (NULS) is an open-source community driven Blockchain platform meant for the public. Nuls allow a simple usage of its coin due to its modular structure. Nuls as a coin is very easy to use for private companies, businesses. Other setups that are interested in using Blockchain technology but concerned about the cost of implementation can also make use of the coin easily.
History of Nuls (NULS)
Nuls Cryptocurrency was launched in September 2017 in Singapore. Unlike other Cryptocurrencies, Nuls does not have an initial coin offering (ICO). The Cryptocurrency airdropped 40 million NULS token into Binance exchange platform in November 2017, balancing it at a price of $1 per coin. Nuls project was funded through airdrop with help from the community and business partnerships.
What Does Nuls (NULS) Do As A Coin?
In relation to how the ER-20 standard allows people to create their token using the Ethereum Blockchain, Nuls also has a concept of sub-chains. This means that developers can create their own Blockchain easily and effectively with Nuls.
Nuls is a Blockchain platform that allows one to create any kind of desired Blockchain or token. Hence companies, firms, and business who are interested in using Blockchain technology can easily make use of Nuls.
With several tools provided by Nuls, developers can easily start building functions and develop code without being required to understand the entire code base. Their modular approach is targeted at solving problems related to Cryptocurrency that many others have struggled with. Although Blockchain technology is new and just becoming popular in recent years coupled with the fact that Cryptocurrency has become very profitable in the financial market.
Features Of The Nuls (NULS) Blockchain
Nuls Blockchain has some features that distinguish it from other coins. This include:
Flexibility: Nuls Blockchain is very a flexible Blockchain network. The design is quite customizable and can be modularized. Any developer can plug in and replace the inbuilt module to the desired module depending on the task to be completed. Built-in modules like networking, algorithm module, storage, and consensus can also be customized and replaced with whatever a developer needs to achieve.
Easy Update: since the modules of the Blockchain are easily customizable; developers can with ease replace and change the module to fit their need. Since technology is evolving daily, this feature makes the coin very effective. With changing technology, developers can swiftly change modules to fit the situation on hand.
Smart Contract: NULS Blockchain as earlier stated is based on Etherum smart contract technology. And that is why they are ERC-20 token. The Blockchain is also very programmable, thanks to the Smart contract function. Outlining of logistics of businesses can easily be done with even a very little programming knowledge. Included in the smart contract are rules for execution which only requires the developer to give an outline of the logic that the process should follow when executing its tasks.
Open Source: thanks to it open source nature, developers can easily use the Blockchain code to generate their own decentralized chain. The Nuls team made effort to ensure that smart contract supports any programming language that is used for development purpose. Hence, the creation of decentralized application become a piece of cake.
Multiple Chain Consensuses: another beautiful feature of Nuls is that it consists of several side chains that are fixed or connected to the main chain. In effect, it uses a cross-chain consensus instrument by the name of proof-of-credit which enables easy communication of chains in a more effective way.
The Benefits Of Nuls (NULS) Cryptocurrency
Below are the benefits of Nuls Cryptocurrency that would make you want to consider using it for your business or firm
The proof-of- credit consensus mechanism: the Nuls Blockchain makes use of a proof-of-credit (PoC) protocol. The Nuls development team designed this, and it was claimed to be the first of its kind. It allows the replacement of core modules and integration of new function module.
It aids the simplicity of implementation: Developers can fasten their work to the main chain and it will serve as a base with several customizable modules. This will afford developers to choose their own rules and build project based on their skills.
It has two modules: the Microkernel and the functional module. The Microkernel is the base the entire network, while the functional module provides customizable module infrastructure.
In summary, every business will tend to benefit by using the Nuls technology. It is very cost effective and will need no complex professional skills to work on it. With this technology, every business can create its own token without stress.
Image Credit: News.Bitcoin