Although blockchain presents forward the concept of decentralization to the world, there are certain limitations associated with it that make it plagued with the issue of centralization again. These might be centralization by the platform itself in deciding its future direction, or by the miners through the use of expensive hardware. So how does Nuls, a blockchain project aimed at making blockchain usage easier for everyone, solves this issue? In order to get an insight, BlockPublisher asked Josh Welham, a community developer at Nuls, to explain the situation.
Josh elaborated, “There are two ways a blockchain project can be centralized, project direction/maintenance and network maintenance (mining); NULS solves both of these concerns by utilizing the NULS blockchain itself.
Firstly, we use a community governance mechanism to avoid the project itself being centralized. There are currently 2 community groups that exist to help give control to the community, Ambassadors, and Developers. Members of each group can be removed by the community at a consensus agreement, this means the community is in full control of who can be in the position of pushing the project forward and in which direction. As the NULS price increases, this will allow the community to hire more members and even introduce new departments to focus on other areas such as marketing or business relations.”
Adding on to his statements, Josh further stated, “Right now the Core NULS team is still in control of a lot of power within NULS, which is good as we’re still in the very early stages. However, their long-term goal is to allow the community to be fully autonomous. To achieve this they must very slowly and carefully hand over power to the community and we can already see this with the introduction to the Ambassador and Developer community teams. They will continue to hand power over to the community as each step is successful until we reach full community autonomous in the many years to come.”
Explaining network maintenance and protection from unwanted nodes, Josh stated, “As for the network maintenance being centralized, NULS has solved this issue by requiring node operators (or Agents as we refer to them as) to have at least 20k NULS and 200k NULS being staked from the community within their node. What this means is the Agent must be financially invested in the future of NULS, and most importantly the community must support the Agent. If an Agent does not have 200k NULS being staked from the community on their node then their node is not allowed to join the network consensus. This prevents untrusted Agents from joining the network and allows the community to control which Agents maintain the network for them.”
Nuls is a project that gives its community the control it should have, staying true to the actual essence of the decentralization concept. Summing up his statement, Josh said:
As you can see the community is in control of both the direction of the project and who maintains the network. The power the community has over the development of NULS will only increase as time goes on.
Nuls is one interesting project to look out for in the long-run. Click here to get to know more about the long-term vision that the project is pursuing.