NULS Mainnet Launch: Here’s everything you need to know

NULS Mainnet Launch: Here’s everything you need to know

Projects technical analysis
July 5, 2018 by Ben Riley
741
ibc-5-7-18-(2)

Overview

NULS is an open-sourced global blockchain project with a highly customizable modular blockchain infrastructure. It combines microkernel and functional modules to provide smarts contracts, multi-chain mechanisms, and cross-chain consensus. It aims to break the technical barriers around blockchain technology to help reduce development costs and promote commercial use of blockchain. By building a customizable universal public blockchain infrastructure, NULS aims to help enterprises improve their credibility by developing their own decentralized applications (Dapps) on the blockchain.

The NULS blockchain contains a multi-chain mechanism which can be combined and when integrated, side chains can form and attach to the blockchain. NULS features sophisticated smart contracts which make the blockchain programmable to conform with business logistics with minimal programming knowledge. The processors within the NULS launch logic into a decentralized environment. The default consensus mechanism of the NULS project is proof-of-credit (POC). Credit refers to the stability, integrity and assurance of each node within the chain. Yellow and red cards will be used. Yellow cards will represent a node missed in block creation due to network outages etc. Red cards will be issued when nodes cause a fork, or a double spend operation. In such event, staked coins are frozen for a month and blacklisted from joining blockchain consensus.

Fundamental Analysis

As per the CoinMarketCal, the NULS project is scheduled to release its Mainnet on the 12th of July 2018. This will be a very positive event for NULS after the Testnet phase was successful and everything is looking good. You can view the NULS blockchain explorer here. The launch of the Mainnet is a very positive fundamental event and it is believed that it should bring positive news to the project and the overall price action as well.

NULS Mainnet Release

Technical Analysis

Looking at NULS on a technical analysis point of view, it recently put in a solid low around 30k Satoshi’s at the end of June. This month it has already had some positive price movement, jumping to almost 40k Satoshi’s for a 30% increase. This may well be due to the news of the Mainnet coming or just general movement from the rest of the market having a little push.

NULS Technical Analysis

Conclusion

Ideally, it would have been better to get this information released sooner as NULS has already had a jump and the news may already be priced in. However, this project is still very undervalued with only 40M in circulating supply. Its modular structure which makes it a plug-and-play for private blockchains makes it very appealing to companies and businesses looking to implement blockchain technology.

I think it is very reasonable to assume that we will see many projects being connected to the NULS blockchain in the future. The team in strong and have worked on previous successful start-ups in the industry. Keep an eye on NULS and if you are looking to enter a trade, maybe wait for a strategic entry as the RSI is a little overbought now.

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