What is NULS?
NULS is a blockchain infrastructure for customizable services, driven by our global open-source community.
Following the principles of pluggability, modularization and parallel expansion, NULS provides smart contracts, multi-chain mechanism and cross-chain consensus to reduce cost of development and usage, and to promote the application of blockchain in the commercial field and the interaction among chains
Upholding the “chain” as the core in the NULS development philosophy, NULS is striving for building its core product: “Chain Factory”. In the meantime, NULS will realize the value circulation among chains through cross-chain module and build theecosystem of blockchains.
After conducting market research and analysis, we found that there are various problems that hinder the growth and development of blockchain. Talented individuals in the IT sector are already hard to come by and developers who are additionally experienced in blockchain is a rarity. This creates a higher cost for development as these individuals can charge a premium in exchange for their services due to the simple economic function of demand exceeding supply. This issue cannot be solved in the short term and will only be solved over time as more developers learn and understand the technology.
Existing blockchains are limited in performance and cross-chain communication is still being explored. Organizations and businesses will not be interested in using a consortium or private chain that isn’t completely trustworthy. NULS can provide a reliable solution to these problems.
Chain Factory is a user interface that allows developers to build a new chain or enhance an existing chain by automatically deploying modules selected from a warehouse of endless modular solutions.
ChainBox is an out-of-the-box solution to chain-building. It encapsulates six underlying modules: ledger, accounts, transactions, blocks, consensus, and network. ChainBox eliminates the necessity of understanding any underlying blockchain technology including distributed data storage, point-to-point transmission, consensus mechanisms, and encryption algorithms. Instead of spending time on blockchain architecture, developers can focus on creating independent business modules based on standard communication protocols, then form a brand new application chain in minutes with ChainBox.
Cross-chain consensus connects the NULS ecosystem with outside ecosystems and other blockchains for fluid circulation of information and assets.
POCM - An SCO Platform
POCM (Proof of Credit Mining) is an SCO Platform that allows projects to use smart-contracts to issue and distribute project tokens on blockchains. Got NULS? Stake into a project’s nodes and earn their token as reward, while the project earns NULS as reward. Projects can use the NULS consensus rewards to bootstrap and help fund development. Unlike IEOs and ICOs, stakers never risk their principal, and NULS never leave their wallet. Earn project tokens while your device is off! As a universal SCO Platform, POCM can be used to issue and distribute tokens and assets from any public chain in any blockchain ecosystem.