In November of 2018, the NULS team pivoted. Upon realizing that the design and architecture of NULS 1.0 would have limited modularity — despite being a state-of-the-art modular chain with extensive adaptability — it did not accomplish the level of flexibility that the NULS technical team had imagined as the most modular, adaptive blockchain in the world. That is how the design of 2.0 began — with NULSTAR, a bottom layer breakthrough from community developer and leading NULS Technical Community member, Berzeck.
Because NULS 2.0 is at the apex of modular blockchain development, it brings with it many “firsts” for the industry. To begin, for the first time in the industry’s history, developers can build on a chain that doesn’t require their applications to adapt to the design and architecture of the blockchain they are using. NULS 2.0 adapts to the application that the developer is creating. For mass adoption of blockchain — developers should not need to re-tool and they should not have to bother with core blockchain development. This is why NULS 2.0 was created.
Another series of “firsts” that NULS brings to the industry, comes with combining two key factors that help to fast-track blockchain adoption: token issuance and chain-building.
Ethereum made token issuance a reality with ERC-20s via smart contracts. But building on Ethereum requires developers to learn Solidity to create a chain for their applications, etc. and the developmental threshold is very steep, which increases both cost and time of development. So NULS has created a blockchain-in-a-box solution. Six basic modules eliminate the need for developers to learn complex technologies such as cryptology and consensus mechanisms, etc. Your dApp, business system, or any application can be integrated with its own blockchain in under 10 minutes.
For the first time, both chain-building and token issuance can be provided by one, easy-to-use modular platform. ChainBox allows applications to be built into blockchain in just ten minutes, while token issuance has never been more flexible or more appealing than with the SCO Platform, POCM.
POCM (Proof of Credit Mining) is an SCO (Staked Coin Output) Platform that allows projects to use smart-contracts to create SCO nodes. Got NULS? Stake into SCO project nodes and earn their token as reward, while the project earns NULS as reward. Projects can use the NULS rewards to bootstrap and help fund development. Unlike IEOs and ICOs, stakers never risk their principal, and their NULS never leave their wallet.
NULS 2.0 is universally applicable and allows any asset, coin or token to be issued from any other chain or ecosystem. One example is Accuchain — who recently held their AMA with SCO Labs last week. Accuchain is an ERC-20 asset that will conduct an SCO using POCM technology on NULS 2.0. 1% of the total token supply will be issued for the SCO — and the same 1% will be burned as an ERC-20 on the Ethereum side. This allows a new form of “airdroppping” and token distribution, community-building, ecosystem expansion, all while helping projects to earn continuous revenue for costs and expenses of development. Any asset or coin from any blockchain or ecosystem can conduct an SCO using POCM.
In addition to this — POCM and SCOs extend throughout the NULS ecosystem and beyond. Token Network, a project that held their AMA with SCO Labs in September, is building a platform on NULS that will allow e-commerce businesses to tokenize and issue their own assets on the Token Network public chain. POCM allows any side-chain on the Token Network’s platform to conduct an SCO. This means TNT token holders can stake into a project’s node, and earn the project token, while the project earns TNT.
NULS 2.0 is bringing modularity to the blockchain industry, and this is just the beginning! Upcoming features include Chain Factory and NULS Evolution — a way for updates to be implemented that reduces the chance of forking down to zero, without ever minimalizing the security and integrity of decentralization.
TLDR; Check out NULS Core 2.0 Product Features…
- NULSTAR — The bottom layer of NULS 2.0 architecture that provides a very flexible loosely-coupled blockchain modular environment that bypasses technical details to facilitate frictionless development.
- ChainBox — Create a chain in just ten minutes. Six basic blockchain modules, packaged into one easy set-up allows developers to use blockchain-in-a-box convenience which eliminates the need for blockchain development experience.
- POCM — A Universal SCO Platform — Issue tokens from any network. Stake into SCO project nodes and earn their token as reward, while the project earns NULS as reward. Projects can use the NULS rewards to bootstrap and help fund development. Unlike IEOs and ICOs, stakers never risk their principal, and their NULS never leave their wallet.
- NULS Evolution — A way to seamlessly upgrade blockchains that reduces the risk of forking to zero.
- Cross-Chain — Interoperability features that enables cross-chain interaction of assets in the ecosystem for optimized liquidity and application options.
- NULS 2.0 Mobile Wallet — The new mobile wallet is developed by NULS Eco-partner Nabox, a service platform for applications in the NULS ecosystem. The mobile wallet supports and integrates asset management, community management, DAPP access, etc.
- Chain Factory — This upcoming feature provides parallel expansion technology enabling high availability performance. Developers can customize their blockchain by incorporating as much server and software redundancy needed to meet Service Level Agreements (SLAs). Chain Factory allows developers to customize, upgrade, adjust and add features to their blockchain in a way that provides ultimate automated convenience and adaptability.