An Understanding of Nuls - A Chinese Perspective

Translated from weibo.cn (from China).

In two days NULS rose as high as 800% in popular foreign communities, in the end what happened? Let's discuss the vorrect understanding of NULS.

On November 8, Binance posted online NULS. As the law of breaking 99% of Singaporean currency on the spot on Ann Arbor, the currency circle was so hot that it pulled from one to eight in two days. The turnover went up from a few One hundred thousand (speculators) to 100 million enlarged, and then as of November 13, stabilized to about 4, the daily turnover of more than 10 million yuan. And TG group a few days, foreigners have entered 1000. Many coins ring old and new people are encircled, in the end what happened.

The introduction of the NULS in the currency security is like this:

Nuls is a highly customizable blockchain infrastructure and is a global open source community project for blockchain. Nuls consists of microkernels and functional modules to weaken the new thinking of the main chain, to achieve a highly modular underlying architecture through the stripping of events and services, and to provide operating mechanisms such as smart contracts, multi-link parallelism and cross-chain consensus to reduce development and The cost of use, and promote the blockchain business application process.

To know NULs , first of all, we must first know that in May this year, crowdfunding print chain (inchain, official website: https://inchain.org) .

Official website printed chain self-introduction is this:

Inchain is a public chain project located on the bottom platform of the business application of blockchain. It is the first professional commercial application of blockchain ecosystem. From the underlying architecture authentication management hierarchy, Inchain signs double signcryption registration binding management, which, along with a high-level arbitration system developed by management Intermediaries and Printing Chain, meets the decentralized commercial-level regulatory requirements of the decentralized network.

Inchain's original intention was to use blockchain technology to crack down on counterfeit products and to provide brands with the most credible technologies available so as to protect their brand image. To this end, anti-counterfeiting traceability will be the first application of Inchain. The Inchain team will devote itself to building a comprehensive self-service application based on anti-counterfeiting traceability. This application will accumulate a large amount of merchant and user resources for Inchain to form a traffic center.

In simple terms, a printing chain is the underlying public chain of a blockchain business application, similar to NEO / EOS, and anti-counterfeiting is just the first application. Because of the team's practical style, projects and commercialization have always been in sync. And so far, already in the commercialization of development, there are already more than a dozen companies, such as Elephant Alliance (Beijing) Science and Technology Co., Ltd., which has been engaged in strategic cooperation, (Elephant Alliance is the core of "San Tong" And "Three Tongs" products were put forward by Premier Li Keqiang during his inspections of quality inspection in 2014. It means that exporting enterprises produce export and domestically manufactured products on the same production line according to the same standards so that the supply of both domestic and international markets Products to achieve the same level of quality.And the chain (inchain) for the elephant alliance and the major manufacturers, e-commerce platform, terminal retailers to provide anti-counterfeiting traceability as the core of the blockchain Internet of Things integrated services)

It also means that there will be more and more inchain technologies that will be used by the development of the elephant union in the future (hundreds of enterprises have been negotiated in the future) even if the printing companies do not develop their own markets.

However, the printing chain team is not satisfied, in addition to cooperation with the Elephant Alliance, as well as with Guizhou Lai Shiling Zhengheng Liquor Co., Ltd., Ming tea is still cross-border e-commerce (Shenzhen) Co., Ltd. and other enterprises can be expected within a few months in the supermarket to buy things there will be anti-counterfeiting printed traceable traceable products.

Elephant Alliance Partner List:

Overseas Chinese institutions have signed:
1, Thailand and China Relations Association
2, the Netherlands and China Culture and the Arts Association
3, Seattle Taiwan Economic Education Association
4, San Francisco New Century Green Industry Development and Investment Group
5, Bay Area Huaxia Association
6, the world Chinese Federation (General Association) Global Chinese Federation
7, the United States World Chinese Organizations Alliance
8, the United Nations World Peace Foundation
9, Baoding Electronic Information Industry Association
10, International Painting and Calligraphy Art Federation INTERNATIONAL UNION
11, Beijing Shenlongyuanrong Culture Communication Co., Ltd.
12, Chinese Association of World Chinese Studies (I)
13, World Federation of Low-carbon Environment Alliance
14, United Nations World Harmony Foundation
15, "Russia - China" business cooperation center
16, Amsterdam Overseas Chinese Society for the elderly
17, the United States Institute of Nanomedicine
18, the Netherlands Xin International Immigrant Investment and Development Board
19, Brigade
20 Chinese Association , the Thai Manganese Spring Taijiquan
21, the United States with the East-West Institute of Health
22, China-ASEAN SME Economic Cooperation Promotion Association
23, Portuguese Overseas Chinese Association
24, Portugal Nantong Lisboa Cork Products Co., Ltd.
25, the Netherlands Seagull Hotel
26, the Netherlands Technology Training and Consulting Ltd.
27, the Netherlands Xin Ze International Limited
28, United States China Kung Fu
29, the World Federation of Chinese Medicine

Taiwan has signed a list of agreements:
30, China's new Hongmen Party
31, Taiwan's Aboriginal Culture Industry Development Association
32, China's Cross-Strait Talent Management Association
33, China Science and Technology Animal Husbandry Development Association
34, Taiwan Association of Ecological Education and Farmers
35, Taipei Beauty and Cross-Strait Association
36, Taiwan New Citizenship and Care Association
37, China Cross-Strait Physicians Management Association
38, Taipei Multicultural Art Troupe
39, Taiwan luster promotion will be
40, the China fashion Association Art
41, new Taipei City Confederation of Trade Unions
42, the Republic of China green living Association for the Advancement
43, Yongjian Foundation Ltd.
44, the original vision of cultural interpretation of the mission
45, Han Chinese painting and calligraphy Association
46, China and India stone art Collection Association
47, ingot Travel Co. Ltd.
48, Kinmen and Matsu Across the Taiwan Straits Association
49, Taipei mountain crazy paintings
50, the corporate culture of China Association of Creative Industries
51, China Huaxia Hope Care Association
52, the Taiwan Youth Puppets Joint Association for the development and exchange
53, New Taipei City Banqiao District Folk Culture Heritage Association
54, the United States Florida in Taiwan Department
55, Taichung Mingmen Numerology Education Association
56, Taiwan World Outstanding Artists Association
57, China Indian Stone Art Collection Association
58, Taiwan International Collector Association
59, All China Association of Directors
60, China Tourism Medical Association
61, Chinese culture and education Economic Development Society
62, Cross-Strait Enterprises Exchange Association
63, Taipei Cultural and Educational Economic Development Promotion Association
64, Huayu Universe Talent Association
65, Huantai News Agency
66, Chinese Tai Chi Songjing Society
67, Taiwan World Association for the Advancement of Friendship
68 , Taipei City, the Asia-Pacific Economic and Trade and Cultural Exchange Association
69, the Chinese Cultural and Creative Society

Chinese medicine culture has signed the list:
70, East Asian Functional Ion Association
71, the World Federation of Traditional Medicine
72, the World Natural Medicine Foundation
73, East Asia Ion Water Health Association
74, Beijing Science and Technology Development Co., Ltd. care support
75, All-Natural Medicine Institute (USA)
76, Tiansheng Pharmaceutical Group Co., Ltd.
77, South Africa Association of Chinese Medicine Research
78, World Federation of Chinese Medicine

Hong Kong has signed the list:
79, Hong Kong Filial Piety Cultural Association
80, Chinese Sinology
81, World Talents Association

And MANY More...

So, what is the relationship with the NULS and InChain?

NULS can be said to be a voluntary global community of open-source blockchain community projects that are core members of inchain.

(1) What is NULS?

Nuls is a customizable, modular blockchain infrastructure project that consists of microkernels and functional modules to weaken the mindset of new backbones and to enable a highly modular, underlying architecture with event and service de-provisioning Smart contracts, multi-chain parallel, cross-chain consensus and other operating mechanisms to promote the business process blockchain process.

Nuls has developed a set of industrialized blockchain technology standards that provide alternative intelligent contracts, multi-link parallelism, consensus mechanisms, P2P networks, storage, encryption, multi-level accounts, following the principles of hot plugging, modularization and parallel expansion piece.

"We hope that through the blockchain technology, we will help create a decentralized business model for the lack of a centralized trust system in our daily life work and solve the conflicts of trust between individuals and businesses in society. Based on Nuls, this simple foundation backbone, we will provide a wealth of modular components, the same as the CPU, hard disk, memory, motherboard assembly into a computer, the user can freely choose consensus, storage, contract, arbitration, account system, anonymous Strategy, permissions and other modules, assembled into a sub-chain for their own needs. Subchain A customizable blockchain infrastructure is not limited to a public chain, it can also be a private chain or a federated chain."

In a nutshell, NULS is a modular (customizable) blockchain infrastructure that modularizes functionality and allows individuals, businesses, and governments to assemble as one sub-chain at their discretion and not limited to the public chain , Private chain or affiliate chain. Just like assembling a computer, you need a CPU, a hard drive, a memory, a motherboard, a keyboard, and a mouse (the camera functions can be assembled according to your needs).

We believe that the blockchain, with the technical characteristics of its distributed storage, being open and transparent and capable of delivering value, will exist as the basis for enterprise applications in the future. So far, however, it has been hard to see whether an application or project around us is really developed based on blockchain technology. The crux of this phenomenon is the use of chained blockchain technology, limited performance. The data on the chain is huge, synchronization is difficult, and technical updates are hampered by decentralization. In order to solve these problems and promote the commercial application of blockchain, Nuls was born.

Currently, the block development of the blockchain performance is limited, many projects and applications are from the beginning to the end are unable to truly commercialize and technology updates due to decentralization (typical example of BTC to upgrade communities have to speculate yearly) and therefore, NULS is to solve these problems, and to promote the commercialization of blockchain .

(2) The necessary conditions for commercialization

After market research and analysis, we found that there are some problems in the development of the blockchain. The shortage of technicians in the blockchain and the high cost of research and development cannot be alleviated in a short period of time. More and more applications require blocks Chain technology support; the existing blockchain performance is limited, cannot communicate between different chains; institutions tend to use the coalition chain, the private chain, and the two to the trust is not complete. Nuls can provide a reliable solution to this.

(A) flexible and easy to use blockchain infrastructure

Nuls offers complete Turing-complete modular development for developers and users. Developers and users need not to study the underlying technical details such as cryptography, consensus mechanisms, storage methods, etc., and use simple and quick programmable environments to directly interface with commercial applications, thereby reducing the commercial cost of the blockchain.

(B) adapt to massive blockchain application scenarios

At the application level, it is expected that blockchain will serve as the underlying foundation for many organizations and individuals in their work and life. Nuls is able to cope with various application scenarios in the future through modular, multi-link parallel and intelligent contract operation mechanisms And the different needs of the bottom of the blockchain.

(C) high-performance driven blockchain commercial landing

Commercial applications have high-performance requirements. Nuls is committed to solving the performance limitation of the existing blockchain. By using parallel expansion technology, Nuls separates the main and subchannels through the multi-chain parallel operation mechanism of "main and sub-chains" Business to meet the millions of TPS needs.

(D) the balance between data transparency and commercial secrecy

For organizations, data confidentiality and security are paramount, while the openness and transparency of the blockchain give organizations some concern. Nuls protects the confidentiality and security of business data in the sub-chains through data isolation and cross-chain auditing to solve the balance between data transparency and commercial secrecy.

It can be seen that the four points of NULS are four points of flexibility, adaptability, high performance (meeting millions of TPS), transparency and commercial confidentiality. And that's one of the four conditions necessary to solve the commercialization of the blockchain, which is consistent with the Ethereum platform but more powerful.

(3) the value of tokens

1. NULS tokens as a transaction fee.

2. Registration sub-chain, the need for NULS mortgage (mortgaged NULS can only be used for sub-chain running consumption).

3. Sub-chain operation continues to consume NULS tokens.

To create a healthy Nuls ecosystem, all Nuls-based operations require payment of a certain amount of NULS tokens, including but not limited to proof of data for sub-chains on the backbone and transactions on tokens. In order to balance the payment of the token is always in a reasonable interval, will not increase with the NULS token beyond the reasonable range, the system will be based on community votes to adjust the benchmark rate.

1. Sub-chain base currency and NULS intelligent exchange.

The backbone of the base currency is NULS, access to all sub-chains of Nuls, can support their own base tokens, the basic token as Nuls's smart assets; sub-chain can also issue contract tokens, called IOU assets . The Nuls bottom system provides conversion of NULS tokens for smart assets. Subchains To issue smart assets, a certain amount of NULS needs to be secured, with the initial ratio set by the publisher itself. Once a Smart Asset is released, a NULS Pool and Smart Asset Pool are immediately generated, and any user with NULS or Smart Assets can be redeemed at the latest rate adjusted by the market.

The value of the smart assets of the sub-chain is improved, the corresponding NULS capital pool will precipitate more NULS.

As such, the value of NULS appreciates with the increased quality of sub-chain smart assets.

NULS system, built-in NULS tokens, is the blood of the entire system, will be used to participate in consensus rewards, transaction fees, registration sub-chain mortgage function, consumption of NULS tokens, NULS can be intelligent exchange with sub-chain.

(4) Technological innovation:

The Nuls backbones default to the POC (Proof-Of-Credit). Node credit standards, lock a certain amount of margin to join the consensus, the consensus node re-sorting each round out of the block, withdraw from the consensus margin unlock.

Nuls community will continue to develop consensus mechanisms such as POW, DPOS, POS, PBFT and POOL verification pool for users and enterprises to freely choose.

The Nuls community acknowledged the unpredictable nature of technology upgrades and business applications, embraced the modularity of Linux kernel design and developed the Nuls kernel. The Nuls design follows the " Everything is a Module " principle, with modular support technology to update and apply fit.

It can be said that NULS is a multi-strand parallel + cross-chain consensus, the underlying modular.

(5) Summary

The NULS technology is robust and well-structured (it is said that more than 50 days have been discussed by several architects who have been in business for more than 10 years) to incorporate the modular thinking behind LINUX kernel design, where commercial thinking stands out compared to other blockchain teams/communities, focusing on the commercialization of the blockchain.

In addition, NULS main-net online line comes this year, the printed chain will be based on NULS become one of the sub-chain.

Community members told me that NULS has a clear and clear-cut target in the near and medium-term and long-term.

The first stage: the main-net online and improve the surrounding ecological and commercial landing.

The second stage: large-scale commercial application of landing, enclosure process, the former inchain is occupying the anti-counterfeit traceability market, NULS is occupying the blockchain basic services market, exploring the combination of blockchain + big data + artificial intelligence.

The third phase of the realization of the blockchain + big data + artificial intelligence landing.

I think the possibility of a NULS becoming a LINUX or Android in the blockchain is great.

Other

(1) investment late now?

Not late. The current market capitalization of 1.5 billion, the current domestic basic chains compared are with only QTUM and NEO.

Of course, we compare the ETH, 200 billion market capitalization, there are 1300 times the profits.

(2) fiery degree

TG group, foreigners chatting is very hot, they are very optimistic about NULS (similar to how foreigners are very optimistic about NEO, foreigners, after all, are the value of investment), take a look at the number of Twitter attention.

(3) other information

Official website: nuls.io

AMA Session 1: https://www.reddit.com/r/nulsservice/comments/7cm2hg/nuls_session_1_of_ama_answering_questions/

Social Media Outlets: All posted on Website

White Paper: https://nuls.io/pdf/Nuls_whitepaper_en_V1.0.pdf (will be revised in 24 Hours)

Twitter: https://twitter.com/nulsservice

TG group: https://t.me/Nulsio

GITHUB: https://github.com/nuls-io/nuls (new code updated)

BINANCE COMPETITION

Congratulations Nuls Fans,

Our first Session of the AMA is up for your interest. We would also like to officially announce our Binance competition. Here are the details:

Fellow Binancians and Nuls Fans,

To celebrate NULS listing on Binance, we have prepared some huge prizes to giveaway to our users trading in the NULS/BTC, NULS/ETH and NULS/BNB trading pairs! We will rank users from 1 to 100 in terms of the total NULS volume traded on your account (includes both buys & sells) during the competition period. Get ready to plan your trip and take off around the world with our 1st Prize!

The rewards will be allocated in the following structure:

1st: A Trip Around The World at the equivalent value of 100,000 NULS!;
2nd ~ 3rd: each to receive 50,000 NULS;
4th ~ 10th: each to receive 10,000 NULS;
11th ~ 50th: each to receive 2,000 NULS;
51st ~ 100th: each to receive 1,000 NULS;

The Competition will run from 2017/11/14 0:00 AM to 2017/11/21 0:00 AM (UTC Time).

Prize Distribution Time: NULS distribution time: 2017/11/24. For the winner of the 1st Prize, please contact us at kefu001@binance.com to start planning your trip.

Note:
Binance reserves the right to cancel or amend the Competition or Competition Rules at our sole discretion. All trades that we deem to be “wash trades” will not count towards your total trading volume for the NULS Trading Competition .

Thank you for your support!

Binance Team
2017/11/13

Find us on
Telegram: https://t.me/binanceexchange

Twitter: https://twitter.com/binance_2017

You can find the poster for the Binance poster's on Binance's social media outlets.
Good luck and have a good day.