NULS is like a proof of credit blockchain platform that enables smart contracts. It focuses on becoming a customizable blockchain infrastructure using sidechains. It is also compatible with various blockchains due to its cross-chain consensus.
In simple words, NULS is a microservices-driven blockchain project that provides enterprises with a platform to create and deploy their DApps (Decentralized Applications) to solve different issues. With the help of the PoC (Proof of Credit) consensus mechanism, it allows its users to lock a specific number of tokens to run a network node.
Therefore, NULS is a simple microservices-driven blockchain project that uses the PoC (Proof of Credit) consensus mechanism to mine via staking. The NULS (NULS) modular design features ‘NULSTAR’ is, a microservices-based framework reportedly enabling enterprise-grade blockchain solutions for private chains, smart contracts, public chains, dApps, and NRC- 20 tokenizations.
History of NULS
The first NULS (NULS 1.0 mainnet) was launched in July 2018. The main product of the NULS is a chain factory, which is a chain building tool that allows different businesses to utilize the plug and play a selection of the modules from the NULS Module Repository, including the cross-chain consensus for the asset value circulation within the NULS ecosystem.
How does NULS work?
The NULS (NULS) is powered by the Ethereum, Binance Smart Chain, HECO, and OKEx Chain networks, and the design operates at two different levels, namely- microkernel and plug-and-play.
The first level, the microkernel, forms the network’s foundation and renders the underlying project mechanism. On the other hand, the functional module comprises the plug and play system that has low coupling, and the users can also swap as per their convenience. Finally, the NULS ensures each sub-chain has a separate set of nodes to ensure the correct cross-chain. Therefore, the nodes that take part need to load modules that work across both chains.
NULS is on the rise this week
The NULS (NULS) price has risen by around 12.49% in the last 7 days. The price is increased by 1.21% in the previous 24 hours, and in the last hour, the price was shrunk by 0.60%. As a result, the currency price is 32.152538 INR per NULS (NULS). Furthermore, NULS (NULS) is 95.08% below the all-time high, 654.805431 INR. The current circulating supply is around 99,620,739.312 NULS (NULS).
NULS (NULS) is mainly a microservices-driven blockchain project that provides enterprises with a platform for creating and deploying decentralized apps, commonly known as DApps, which helps solve different issues.
- The PoC (Proof of Credit) consensus mechanism allows users to lock several tokens to run a network node.
- As per the sources, the NULS (NULS) was trading at us $1.20 with a trading volume of US $1,370,281,017 in the last 24 hours.
NULS (NULS), the microservices-driven blockchain project providing enterprises with a platform to create and deploy the decentralized applications or DApps to solve the issues, also provides the users with enterprise-level blockchain infrastructure. Furthermore, it focuses on pluggability and customization to include cross-chain consensus, smart contracts, etc. The main idea was to have a blockchain system that would help to reduce the burden on the main chain by creating different side chains to decouple the services and events on the blockchain.
Also, using the PoC (Proof of Credit) consensus mechanism, the NULS (NULS) allows its users to lock a specific number of tokens to run a network node, and the project uses the controller nodes, that the network calculates as a credit coefficient for each node and determines its consensus award.
The NULS (NULS) gained inventory mainly because of its massive volume gain of 12,678% after it was announced that NULS (NULS) is building Defi solutions that can be a gamechanger for crypto.
Investing in NULS
The NULS (NULS) is ranked 458 as it was trading at US $1,20 with a trading volume of around US $1,470,281,017 in the last 24 hours. At the time of writing, the NULS (NULS) also witnessed a significant rally and was up by 139%, with a live market cap of around $119,828,655 and a circulating supply of 99,620,739 NULS coins.