As we are moving forward, accepting the reality of blockchain technology and witnessing its aftermath, different industries are stepping into the blockchain scene daily and we’ve reached a point where there is a blockchain for pretty much everything. Amongst those is the Nuls blockchain that is targeting business entities and interestingly enough, it seemingly can become anything one wants it to be in the world of blockchain tech.
Launched back in 2017, the Singapore-based Nuls basically aims at providing business entities with a platform for the purpose of creating as well as deploying decentralized apps (dApps). What the project wants is to build a customizable modular blockchain ecosystem, which runs on top of a microkernel and functional modules. There are also smart contracts, multi-chain mechanisms, and cross-chain consensus.
The Nuls Technology
First of all the Nuls platform is divided into two parts; the microkernel and the functional modules. The former functions as the base of the entire Nuls network while the latter is responsible for providing a customizable modular infrastructure.
Despite the complex technology, Nuls is designed primarily keeping the simplicity of implementation, particularly for developers, who have the access to use the main-chain as a base with numerous customizable modules. Thus, Nuls gives developers the luxury of liberty to handpick their own rules for module customization and ultimately build projects as per their skillset.
Proof-of-Credit Consensus Mechanism
The Nuls blockchain uses a Proof-of-Credit (PoC) protocol, which the platform claims to be a first-of-its-kind consensus. The Nuls platform provides support for the replacement of core modules along with the integration of new functional modules into the consensus. The Proof-of-Credit works in a pretty similar way to the Proof-of-Stake consensus, which means users of the platform are required to lock their Nuls tokens if they want to participate in the Nuls mining process.
Nuls Smart Contract
Nuls is the way it is because majority of the companies that have adopted the smart contract technology have had issues regarding the costs of actually deploying the dApps. Thus Nuls invented a way of reducing the burden on the main chain of its blockchain by introducing side chains that decouple the events and services on the blockchain.
Nuls, therefore, provides functional devices for implementing smart contracts in the cross-chain consensus. This, in turn reduces the cost of generating and deploying dApps.
Features of Nuls
Nuls takes pride in being a very flexible blockchain network, owing to its highly customizable and modularized blockchain infrastructure. Any developer has the power to plug, replace and customize the in-built modules that are the networking, consensus, storage, and algorithmic modules, with suitable ones depending on the task at hand.
Developers also have the liberty to spontaneously use the blockchain’s code to generate their own decentralized apps. One of the key focus points of the team is to ensure that the smart contracts support as many programming languages as possible. This attracts more developers to the platform and offers an array of options when it comes to the creation of their decentralized applications.
Moreover, the smart contracts make the blockchain programmable because of which, users and developers can outline the logistics of any business model dApps that they want to develop. And they don’t even need to be a blockchain programming wiz for it; it is achievable even with very little programming knowledge.
The smart contracts are built in such a way that they already contain certain rules for executions, and only require the developer to give an outline of the logic that the contract should follow when executing particular tasks.
Multiple Chain Consensus
The highlight of the Nuls platform is that it consists of multiple side chains enjoined to the main chain. The blockchain, therefore, uses a cross-chain consensus mechanism in order to enable effective communication between the different chains.
How to Store Nuls
Nuls blockchain was initially based on Ethereum’s smart contracts technology and it was the reason behind the Nuls token being an ERC-20 token. However, with the launch of the Nuls’ mainnet, the project has been moved to its own blockchain. Now, the Nuls development team provides official Nuls wallet for the purpose of storing Nuls token.
You can read the whitepaper here.