Nuls is one of the crypto projects floating around in the crypto universe. There are 2000+ projects listed on CoinMarketCap as of now and it is highly unlikely that all of these will survive the trials of time. Only those which provide unique use-cases and efficient workflows are expected to see the daylight at the end.
S0, in order to get to know about Nuls, BlockPublisher got in touch with a community developer at Nuls, who gave an excellent overview of the project and elaborated project’s consensus algorithm and scalability management.
Talking about the algorithm, Mario, who also goes by the alias of Berzeck, stated:
Its called PoC. Proof of Credit which is a variation of PoS.
The crypto world has been working day in and day out to find more optimal consensus algorithms for the blockchain world than PoW and PoS. In order to stand out and stand apart, Nuls is also experimenting with a different algorithm than the most commonly employed PoW and PoS.
Elaborating the algorithm, Mario stated:
This is the idea: Any person or group of persons can make their own agents (servers that processes fees), you need to lockdown 20K Nuls and have at least 200K nuls of stakers before the agent becomes active.
In order to keep the entire network secure, Nuls also keeps track of the ‘behavior’ of all the nodes. In a systematic way, malicious nodes are locked down if the bad behavior persists. This is a good strategy for keeping the entire system secure. Explaining this, Mario also stated:
If a node behaves malicious or even if its shutdown or whatever reason…agents grant that node a yello card so its credit lowers…which means that the reward is lower each yellow card reduces 2% the reward for the agent and hence for its stakers so if the agent persist in its ‘bad behavior’ then rewards can reach to zero…if it persists it is granted a red card and the 20K locked down remains locked for 3 months approx.
Mario also pointed out that this scheme employed by Nuls won prices in China.
Another prevalent issue in the blockchain world is scalability. Nuls strives to solve this issue through the employment of sidechains. Talking about scalability management, Mario stated:
The idea is that sidechains are built to tackle specific use-cases so sidechains absorb the process burden while main chain is lean and fast. Right now main net can handle 1000 TPS approximetely.
The explanation given by Mario certainly makes Nuls a project to look out for in the long-run owing to its consensus algorithm, scalability management through the employment of sidechains, and security protocol of locking down the bad nodes on the network. It remains to be seen how things pan out for this particular project from here on.