Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA & Quiz with NULS, on 13th May 10AM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Mario Blacutt, Regional Director at NULS. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Introduction Question Asked By BlockTalks
Q1. Could you please introduce NULS & Nerve Network to our community in layman’s term?
Ans — NULS:
NULS is a microservices-driven blockchain project that uses the Proof of Credit (PoC) consensus mechanism (dPoS plus credit rating) to mine via staking. The NULS modular design features NULSTAR, a microservices-based framework reportedly enabling enterprise-grade blockchain solutions for smart contracts, private chains, public chains, dApps and NRC-20 tokenization. NULS 1.0 mainnet launched in July, 2018. The main product of NULS is Chain Factory, a chain-building tool that allows businesses to utilize the plug-and-play selection of modules from the NULS Module Repository including cross-chain consensus for asset value circulation within the NULS ecosystem.
Nerve is a decentralized digital asset service network based on the NULS micro-services framework, which uses the NULS ChainBox to develop a blockchain cross-chain interaction protocol. The aim is to break the isolated blockchain value and establish a cross-chain asset exchange network to provide all the necessary underlying support for the Defi application ecosystem. Let every digital asset holder experiences a truly secure, free and transparent Defi application service.
Nerve and NULS are sibling products that will grow together, they serve different purposes and are designed to complement each other.
Q2. What are the advantages of NULS blockchain to another alternatives in the market?
Ans — NULS has a very fast blockchain and elsa has embedded a mechanism to punish other bad behaving nodes, we have governence tools (gov.nuls.io), a distribution and funding method (pocm.nuls.io), technology that allows people to build their own customized blockchains (factory.nuls.io) … a lot of unique tech in the whole crypto landscape
BUT our biggest strength is our underlaying architecture which is based in microservices that allows us to evolve and adapt faster than anybody because no matter what tech you have now, it will be probably obsolete in a couple of years, this is probably the only constant in technology.. specially in crypto!
let me put this way, if Vitalik finds ultimate scalability solution, while he is receiving the Turing award, we will pack the solution in a microservice and deploy it to our clients months before Etherum does
in some way its like everybody is working for us!
Q3. How you are seeing blockchain & crypto in next 10 years down the lane?
Ans — it is impossible to predict which tech will rule blockchain space, probably a new one that we don’t know it will exist, the space is just progressing too fast… and we are the only ones prepared for that future!… whatever tech wins …. WE WIN!
but is a safe bet that by then blockchain technology will have penetrated all industries on every level also there won’t be a single chain to rule them all, there will be many interconnected chains serving different purposes and optimized for this, thats why we invested a lot of resources in Nerve.. to prepare for this future!
Question Asked by our BlockTalks Community Members during live Session for NULS Representative .
Q1. What is the biggest problem that NULS chain factory can solve?
Ans — ChainFactory is the only tool we know of that is aimed to BUSSINESS people and not for DEVS, with this , they can create their own customized blockchians from a very friendly UI. they not only allow to create blockchain BUT they can downlod a customized explorer and web wallet for ther brand new blockchain as well!
we dont know any other crypto that can do this 😎😎
Q2. WHAT BENEFITS WILL THE COLLABORATION BETWEEN NULS AND PSU BRING TO EDUCATION ON COMMERCIAL ASPECTS OF BLOCKCHAIN DEVELOPMENT FOR THE CRYPTOGRAPHY FIELD?
Ans — The biggest benefit is that we will have a new wave of entrprenaurs that know how to build and apply blockchain solution using NULS to solve diffferent problems found in real companies.
It was the FIRST course (that we know of) destined for students in the BUSINESS area and not IT area which is the rule.
Q3. WHAT IS THE “NULS Chain Factory” AND HOW DOES IT CONTRIBUTE TO THE DEVELOPMENT AND ESTABLISHMENT OF NULS?
Ans — ChainFactory allows companies to build their own blockchain infrastructure in minuites without development knowledge, as explained it also bulds an explorer and a web wallet and also has an optional smar contract module and cross-chain module.
we have already income for this solution, like 91000 NULS, that we burned!
Q4. How #NULS platform is best option for us?
Ans — Because it is the only future proof platform, no matter what tech your favorite blcokchain has it will be obsolete in a few years, with NULS and NErve we can adapt to new brand technologies a lot faster, so your investment is as future proof as it can gets.
Q5. What was NULS economic Model? And what was NULS previous achievement? May I Know it’s S.W.O.T?
Ans — Max cap: 210 000 000
Total supply: 96MM
Disinflation ratio: 0.41% per month
If you were referring to our business model, well we have closed source products that allows us to get income, like ChainFactory that we collect 91000+ NULS (20000 usd at current price) that we burned! .. other closed source products are on the pipe like NDEX.
Q6. How does the Nuls infrastructure allow multilingual development to be advantageous? What enhancements will provide freedom in the future?
How does the advantage of not having any programming language limitation combined with the microservice modules?
Ans — The advantages are that developers can focus on solving problems without worrying about learning a new development language, also our microservices infrastructure allows them to just change individual modules without the need to deal with the rest that they are not interested with… each module is an application itself so modules can be added and deployed even runtime!
imagine if exchanges would develop their solution using our technology, they wouldn;t need to shut down the exchange 8 hours for and upgrade or maintennance…. **cough Binance cough**
so the advantages will prove us right in the future, there is a reason biggest software companies in the world are investing millions in this kind of technology, we invested years in this and it will pay off in the future.
Q7. What is #NULS and what was the reason behind starting this project? How optimistic are you of the future use-case of the #NULS compared to when you started it?
Ans — What is NULS is already answered above
And the reason we are very optimistic is because we are the only ones that can adopt new technologies fasters than anybody else which makes us well prepared for an uncertain future because nobody knows which tech will win the race, whatever it is we are prepared for it!
Q8. WHAT INSTRUCTIONS DOES “NULS” PRESENT FOR THE LEARNING OF PEOPLE AND WHICH MAY CONTRIBUTE THE COMMUNITY TO LOSE THE FEAR OF USING BLOCKCHAIN TECHNOLOGY?
Ans — docs.nuls.io has a lot of documentation but as mentioned above we are creating videos very friendly for users that don’t know about the underlying blockchain technology (NULS academy)
In fact we will release a series of 3 videos this week, keep tuned!
Q9. Adoption is a headache challenge for every blockchain projects, especially at this sensitive period of the whole market when many blockchain projects were dead since no-one uses their blockchain. What are your team’s strategies and visions on this problem to onboard more users for #NULS platform?
Ans — We already have 10+ companies using SCO and 40+ that are using chain factory, so the most difficult part which is transitioning from being a toy blcokchain to a real solution for companies, is already complete, and this is something that rest 90% blcokchain projects still needs to prove.
Q10. For Creating smart contracts, Why should any Developers should choose NULS Project / platform rather than any other Blockchain project?
Ans — We have unique products that will enable us to grow our community and user base significatively, Nulstar enbables developers to build projects that may not even be blcokchain related! they can make any kind of complex system with Nulstar and interconnect to other Nulstar systems seamlessly.
NULS — Nothing Makes Blockchain Easier
Nerve ~ Decentralized digital asset service network