Overview: Nuls (NULS) the Adaptable Blockchain for Enterprise Solutions. Should You Invest?

Overview: Nuls (NULS) the Adaptable Blockchain for Enterprise Solutions. Should You Invest?

Nutshell

Nuls blockchain aims at providing business entities with a platform for creating and deploying their decentralized applications.

It is an open source project with highly customisable modular blockchain infrastructure. It will provide functional modules, smart contracts, multi-chain mechanism and cross-chain consenus.

The side-chain usage makes Nuls stand out from the competition and it is as a way of reducing the burden on the main chain of its blockchain.

Nuls launched in September 2017

Usage and Tokens

The aim of the project is to reduce the cost of generating and deploying decentralized applications and at the same time making it easy for the developers to customize the Dapps for different business applications.

The main features of NULS are:
Multiple chains - Exchange of data and value among chains
Smart contracts - Usage of NULSVM in a decentralized environment
Proof-Of-Credit - tokens locked to run a node
High customisation and upgradability

The NULS token will be used to support NULS based applications, pay for application costs, perform exchange for sub-chain digital assets, support NULS development, reward miners and pay transaction fees.

Development

Main network has been launched successfuly recently. The launch was celebrated in the official conference in Beijing where 300 delegates attended.

New version of the main-net wallet was also released with the NULS Main-Net v1.0.1 released few days ago.

Future work includes smart contract module, ecosystem improvements and chain factory launch (allows for creation of customisable side chains and connecting it to the main network). All of that in 2018.

Further work include new modules, more sidechains and general ecosystem expansion.

Availability and price

NULS is listed on few significant exchanges with the main ones being:
Binance (76% of volume), Bit-Z (8%) and ChaoEX (6%), OKEx (5%), also listed on Kucoin, QBTC and DragonEX

Bitcoin is the most popular pairing but also paired with USDT, ETH, BNB and CNY.

Current price as of 17th of August is around $1.52 with NULS being ranked on 97th place in terms of the market capitalisation and market cap of around $61M.

40M out of 100 M of tokens are currently in circulation meaning 60% will be still released.

NULS has been doing similar to Bitcoin this year and overall been doing okay even in this bear market.

The ATH is $8.54 and was achieved on 10th of January after a January altcoin pump.

Other aspects

Nuls never had an ICO. Instead, the cryptocurrency airdropped 40 million NULS tokens into Binance Exchange platform later at a price of $1 per coin. There was also funding from the community and the business partnerships

There are currently around 28 employees according to LinkedIn. They have offices in China and Singapore but are expanding teams in the United States, Australia, Korea and Ireland.

There is a lot of competition in this segment. The likes of the projects like Ardor, Stratis, NEM, Lisk, Dragonchain, Rchain, Aelf are trying to do a similar thing. Obviously Ethereum and NEO are there.

My verdict

Nuls is an interesting option and promising project overall. Even who the development started not long ago the project already has a main network live which is a good sign.

The team is large and expanding quickly and the development is planned out nicely and going well.

The biggest problem with Nuls is the competition: there are lot of customisable blockchains tailored for companies and Nuls currently doesn't stand out enough in my opinion.

The valuation for Nuls is reasonable considering the development stage and potential but some of the competition looks promising too (mostly Dragonchain, Stratis or NEO)