Blockchain technology is just beginning to gain momentum and the growing demand in the field has been driven by the need to solve real-world cases. However, the technology is yet to develop fully as most of the blockchain solutions are either too specific and narrowly focused or too broad and encompass way too many things to be of use to both individuals as well as businesses. Nuls fits in a wider range of businesses and can also improvise without damaging the underlying protocols.
Table of Contents
What is NULS?
NULS is a blockchain platform that allows for cross-chain operability and an architecture based on modules that enable high customization of modules. The design can be segregated into two basic parts namely, functional modules and microservices. The goal of this is to be able to maintain low coupling and high levels of cohesion.
NULS has a decentralized nature which allows businesses to bridge the trust gap with the use of technology and also allows users to customize their side chain for requirement fit. NULS uses cryptography, storage methods, and consensus mechanisms for its simple technological design.
NULS operates through a simple base that forms the main chain and it provides a set of modular components that are easily customizable as per the needs of the customer. Users will have the freedom to choose the network, consensus mechanism, ledger, account, chain management, block management, transaction management, and event bus along with other permissions. These chains can be designed for private individuals as well as for consortiums.
Supported and restricted countries
NULS is a cryptocurrency project. Individual countries and their governance have a personal opinions and approach toward the token and hence the restrictions on trade and use of cryptocurrency become specific to each nation. However, as a rule, there are no restrictions applied to NULS.
NULS tokens are available on 21 exchanges including Binance, Kucoin, OKX, Huobi Global, gate.io, CoinEx, BitCoiva, Dcoin, Cointiger, Bitvavo, MEXC, BitMart, Pionex, XT.xom, Zedxion, and others.
NULS applies three different types of fees, transaction fees, cross-chain fees, and chain building fees. For trading in cryptocurrency, platform fees may vary. The details regarding the percentage of fees are currently unavailable.
How to use NULS Tokens?
The NULS tokes are available for purchase through fiat money exchanges and Stablecoin exchanges. NULS tokens can also be bought using a credit card. For this purpose, one has to first get a wallet and link it to the exchange on which they want to buy the token. Next, the user can put down the number of NULS tokens they want to buy and pay the displayed amount in fiat money or tokens. It is to be noted that credit card purchases attract a higher fee when compared to buying the token with fiat money or with other digital currencies.
NULS has a direct link to the contact page which directs to the email address for any kinds of complaints and queries. For other information, one can always log on to the social channels.
Pros & cons
- Cross-chain in communications allows greater trust as compared to a private chain or a consortium.
- NULS operates on a modular architecture that has the scope to adapt to the dynamic nature of technology and ensure scalability in models as per need.
- Ease of usage of lowering is the cost is ensured by NULS through the simple programmable environment.
- Scalability and flexibility would mean that each program gets a custom design as per the needs of the consumer. This makes the processing time-consuming and involves a high degree of support involvement on the part of NULS while dealing with the customer.
- High degree of customization leaves a greater room for making errors that could tamper with the core modules.
There is no explicit affiliate program defined on the company website or the whitepaper. However, one can know more about it by contacting the company directly.
Is NULS safe?
NULS uses the third-generation blockchain for the development of its enterprise solutions. It is time-tested and adaptable to the needs of the consumer. The NULS token can be used for more purposes than just storing value. They can be utilized for setting up votes, notes, creation of tokens, and staking. Staking is possible for many projects over the NULS SCO platform. NULS runs on the Proof of Credit (POC) mechanism that is first of a kind designed by the team. Therefore, NULS can be deemed to be a safe system for investment. However, individual discretion should be applied while making investments in the cryptocurrency market.
Why Choose NULS?
NULS runs on a mission to eliminate the limited scope of the current blockchain technology to bring in the greater interest of businesses and organizations and use the private chain or the consortium. Through NULS, the team wants to bring in greater trust in the blockchain technology thereby providing reliable solutions to real-world problems. The goals of NULS are practical and the approach is simple to understand. The scalability feature further reinforces the trust in the project and hence it is only plausible that the direction of NULS is correct.
1. When will the NULS token be dropped?
NULS tokens will be first dropped via an airdrop to about 40 million owners on the ERC 20 platform. This would account for about 40% of the tokens. These individuals owning the tokens in the first drop would comprise the angel investors of the project.
2. What are the different aspects of the technical design of the NULS project?
The NULS project is divided into four basic components
- Proof of credit or the POC consensus
- Cross-chain in the base over the main net
- Smart contract logic container
- Modular design adaptability that is based on the micro service architecture
3. How many trading pairs are there for NULS tokens?
There are a total of 41 trading pairs for NULS tokens. A few have been shown below.
4. Who is on the team of NULS?
NULS has the following members as a part of the core team.
To sum up, NULS is a refreshing take on simplifying blockchain technology. It makes the blockchain more accessible to businesses and developers. Sub chains and modularity hope to allow scalability in projects that are currently hindering the growth of the industry. Through this, trusting NULS has become easy. However, cryptocurrencies have their way of functioning and the risk of investing in a business is solely a decision of the investor.