Nuls (NULS) was initially launched as an ERC-20 token on Ethereum blockchain but with the launch of their mainnet, the tokens are now being swapped with Nuls coins on the Nuls blockchain. Nuls mainnet is an open-source public blockchain with a modular architecture which makes it the most flexible in operation for the developers. Various modules are incorporated into the blockchain such as smart contracts, cross chain consensus, multichain system. The main purpose of building this blockchain wasShow more [+] to deliver a convenient and flexible technology, easy to adopt for the developers and mainstream industries. The customizable infrastructure of Nuls blockchain improves the enterprise credibility by developing and implementing their own decentralized applications.
Nuls was founded by Jason Zhang, co-founded by Lily Wang and Reaper Ran. The present CEO at Nuls is Liesa Huang. The team consists of 20 other members including developers, system architects, business managers, testing engineers, community managers etc. The advisory board consists of 8 members including Ken Huang, a former Huawei blockchain expert.
The Nuls blockchain is using an innovative Proof of Credit (PoC) consensus algorithm. The working of Proof of Credit protocol is similar to Proof of Stake with a difference that there are two different kinds of nodes requirements in former one. These are agent owner and the Client. The agent owner provides the hardware, creates agent nodes lock deposit and receive commissions from clients. The clients lock the deposits, entrust agent to produce a block and pay commission to agents for producing a block. To become an agent node, the minimum requirement is to stake 20,000 Nuls. The client requires 2000 Nuls to join an agent node. The agent node is not live until he gets enough client nodes so that total amount Nuls at stake is 200,000 NULS. The agent and clients are incentivized for running the Nuls blockchain.