Happy Friday ya’ll…
Not the most exciting week in crypto, but also not half bad market wise.
Let’s end the week with a semi-interesting project: Nuls.
Let’s dig in…
Nuls (ticker: NULS)
Wtf is this shit?
Nuls’ vision is to allow businesses or individuals to easily spin up their own sub-chains. In other words, developers can effectively spin up their own blockchains.
Nuls mentioned that they take advantage of a “modular architecture”, which really means that developers can use different pieces to form a solution that suits their needs. FEAR NOT OF THE MAGICAL WORD “MODULES.” Modules are literally the different components that we all know make up or work with blockchains such as: smart contracts, consensus method, storage, networking, caching, etc ← these are all examples of modules. Simple! Note that spinning up sub-chains using these modules also means tokens can be issued as well.
As part of the Nuls solution, there is the ‘module manager’ which is responsible for managing all of these modules.
The Nuls network also has a microkernel, called NULS kernal. Recall the kernel is the first part of an operating system that is loaded and is responsible for managing just about all systems. For more on kernels check out our aelf review. Likewise, the NULS microkernel is responsible for low-level management of the blockchain network as a whole. The functions of the kernel can be categorized into four main aspects: module management, task management, service management, and configuration management.
So...the NULS kernel is responsible for servicing the foundation of the network, while the modules are customizable aspects for devs to use to reach their own respective goals.
What is neat, is that like Ethereum, NULS also has a virtual machine (VM). The NULSVM allows for internal modules and external sources (modules) to communicate...basically acting like middleware. Smart contracts for NULS can be written in different languages depending on the developer’s preference.
Lastly, they have a Proof of Credit which is much like Proof of Stake, but with some added features. As more tokens are staked and more blocks are mined due to your contributions, you receive a higher credit...better reputation.
Meanwhile, if you are a shitty node you get penalized. They have yellow cards and red cards (like in soccer...or football if you’re not from the US).
A yellow card is when an actor unintentionally acts as a shitty node (power outage, faulty CPU, random shit). If this happens your coins are frozen for 72 hours.
If you are an intentional a**hole, then your funds are frozen for 1 month. You will also receive less rewards in the future.
In summary, you should be able to now visualize what NULS is about. Offering easy to use tools for developers to deploy their own sub-chains at low cost. Check them out for more details if your heart desires.
Who tf is behind this shit?
Based in China, they have a solid team of core members and advisors. One major player is Lynn Yang (Lin Yang... a dude), a talented developer and businessman. He is in his early thirties, was originally part of InChain, and claims to have done 70% of the development work.
All in all, mid-tier shitcoin due to market metrics primarily. They have massive competition (think ETH, EOS, LISK, etc). So it’s a big marketing game and they need to get some sub-chains going!
Hope you learned some shit and make sure to follow us on Twitter!
- Mike and Aaron