NULS — Telegram AMA & QUIZ — March 11
NULS — Telegram AMA & QUIZ — March 11

By NULS | Nuls | 18 Mar 2020


 

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On Wednesday, March 11, we had the pleasure to welcome to our Telegram chat:

Berzeck, NULS Western Regional Director.

We asked him questions about the development of NULS, currently ranked 161 on CoinMarketCap.

Some sentences have been slightly edited for readability but the meaning has been conserved.

 

Summary

In this AMA, Berzeck, the Western Regional Director of NULS stressed the importance of the unique microservices architecture that NULS has chosen. He also explained what the SCO funding system is, and its advantages over traditional ICOs and IEOs. NULS has many quality partnerships, and many new projects are interested in their SCO process or their Chain factory. Finally, NULS proposes various adaptable products that they constantly tweak and improve by listening to the feedback of their partners.

 

Introduction

Q — Alexandre R from GAINS: Berzeck, can you tell us what you did before crypto, how you got into crypto and if you’ve had any other venture in crypto previous to being involved with NULS?

A — Berzeck from NULS: I worked for a software company in my country, and we developed an ERP system. Before that, I was an IT manager for a medium-sized company. I have acquired 20+ years of experience in software development.

I have been in crypto since 2014 more or less because I read a very interesting article about Bitcoin back then that hooked me up, mostly as an investor. Later, I proposed a new architecture based on microservices (the one which NULS 2.x is based on) to a few projects, but they never understood the potential, until I had the chance to talk to the NULS developers. They understood the potential and implications in just minutes. That moment I knew I wanted to be part of this project so we forged a new roadmap for main-net version 2 and for Chain Factory among other products.

Q — Alexandre R from GAINS: Can you tell us what your role is at NULS and what the project is about in a few simple sentences?

A — Berzeck from NULS: I am the Western Regional Director and my job is to find more partners in the West that build projects using our products and of course make our community grow organically.

NULS leverages the modularity concept to the extreme so each module is a separate application and they connect each other using a standard format. This allows NULS to be developed in different languages. It also has the ability to swap and upgrade individual modules in a very easy way.

In a few words, NULS is about the ability to adapt and evolve to implement new technologies.

Q — Telegram user Ichiha Otoku: How can you describe yourself to someone who has never heard about your project before?

A — Berzeck from NULS: “You want to decentralize and optimize some of your processes without hiring experts and risking a lot of money in the process? NULS is your solution.”

 

Product

Q — Twitter user Mehmet Bey: What are the strengths, benefits of NULS as compared with other platforms?

A — Berzeck from NULS: One of our biggest strengths is the unique microservices architecture we have chosen. It allows coders to develop modules in any language they prefer and (in the near future) deploying them at runtime, so no downtime for upgrades or maintenance needed. This architecture plus core modules are collectively called Nustar.

No matter what technology you possess now, the most important thing is the ability to adapt and evolve. This is probably the only constant in technology. In this regard, we designed our product from scratch with this ability embedded in its DNA. While other interesting projects are dedicating their resources researching, we use ours to collect the results, adapt them and evolve faster than anybody else, deploying the results to our clients. If you think about it, it’s like everybody else is working for us.

Let me put this way. If Vitalik finds the ultimate scalability solution, while he is receiving the Turing award, we will wrap the solution in a microservice and offer it to our clients using Chain Factory, months or even years before it is deployed on Ethereum.

Q — Twitter user Sanky: What problems did you face when trying to implement your product in working businesses? Is it hard to explain to non-crypto people what NULS is and what the advantages of using it are?

A — Berzeck from NULS: There are a lot of businesses interested in blockchain but most of them don’t have any idea how to map their business processes to blockchain and that’s the difficult part, we have to guide them in the process but for that, we need to understand their business processes and that takes time.

One of our medium/long term plans is to incubate a company that offers consultancy services to solve this particular problem. (In general, we will incubate for-profit companies that should share revenue with the NULS organization)

It is very hard to explain crypto to non-crypto people but it’s easier to understand the benefits of it, companies are interested in 2 things: increasing revenue and decreasing costs. How to do that is the tricky part and something we are collecting a lot of experience and know-how with our current partners.

Q — Telegram user Ashish Tripathi: Can you tell us about the competitive advantages of the NULS Blockchain project? What is the mission and vision of NULS?

A — Berzeck from NULS: You won’t see something similar any time soon, and keep in mind that this idea is not new. It’s just that we are the first to implement it successfully ☺️

The goal is to be the number one provider of blockchain solutions worldwide and enable businesses to use our products directly instead of having to hire developer experts

Chain Factory is the first step in this regard and surely will not be the only one.

Q — Twitter user Quân Bảo: What are the advantages of the SCO platform over traditional forms such as IEO and ICO? Secondly, what are the use cases of POCM?

A — Berzeck from NULS: An SCO (Staked Coin Output) is a new way to fund and distribute tokens from our partners. The idea is that if people find your project interesting then they can stake their NULS and receive your token in exchange, while you receive the rewards in NULS. The more interesting your project is, the more stakers you will have. This way, investors do not risk their capital. At the same time, they put pressure on projects to make continuous progress on their roadmaps because stakers can leave at any time they want. This gives more legitimacy to our partners because they cannot just take investors’ money and perform an exit scam (unlike ICOs and IEOs). SCO is also a great distribution method because people that stake are probably more interested and less likely to dump our partners’ tokens, unlike airdrops for example.

POCM (Proof of Credit Mining) is the smart contract that makes all of this work. It also seems more regulation friendly because investors never risk their capital.

Q — Telegram user Danail Stefanov: How did the concept of NULS originate and what is possible with the NULS blockchain?

A — Berzeck from NULS: NULS’ concept is to leverage modularity to its highest level, so devs can code their own modules on any language they want. Thanks to this feature, Chain Factory is possible and its goal is for companies to directly use it without the need to hire experts in the area. Something I can proudly say we are achieving, and we are just starting!

Q — Telegram user VyachCrypto: Can a person who is not very familiar with blockchain understand and build his blockchain on Chain Factory? In addition to building a blockchain, what auxiliary products and services do the platform offer?

Also, how will “ChainClub” becoming a NULS mainnet node affect node stability and security of the NULS mainnet?

A — Berzeck from NULS: Chain Factory still requires that you know some basic concepts like genesis address and seed node, but that’s something that is very easy to explain. We will take the time to do it if necessary.

ChainClub (a club for crypto enthusiasts in China, very popular as far as I know) has set up a node in our network, helping it validate transactions. This increases the security of it like any other agent node that validates transactions. It is good news that we are gathering attention from other entities in the ‘cryptosphere’ that are willing to invest in NULS, even with the BRUTAL alt bear market.

Q — Telegram user kunlefighter: Will Chain Factory be able to dock to package products and third-party services?

A — Berzeck from NULS: YES! In the future people will be able to make and sell their own modules, good point.

 

Technology

Q — Telegram user Mario Fisherman: Fast transaction speed and high security are indispensable to NULS. How does NULS keep these factors stable at all times?

A — Berzeck from NULS: Our architecture is designed from scratch to be able to scale, so we won’t hit our limits any time soon.

Q — Telegram user Infinite Crypto: There are many consensus algorithms like Proof of Work (PoW), Proof of Stake (PoS), PoA, etc. What’s the main reason behind designing your own PoC (Proof of Credit) consensus algorithm? How is it better than normal PoS & PoW consensus models?

A — Berzeck from NULS: PoC is fast and very stable and has an embedded mechanism to prevent attacks from bad behaving nodes. It is also a lot more efficient than PoW and it keeps the network more secure. Also, it is not totally centralized like EOS.

Q — Telegram user Srintiel: What is NULS ChainBox, can you explain it?

A — Berzeck from NULS: ChainBox is the ‘engine’ that powers Chain Factory web page. It is a command-line application with a lot more options to build your customized blockchain, although you need more experience in crypto to use it properly.

Q — Telegram user zafer metin: Why did the NULS smart contract integrate the NULSVM virtual machine? What advantages does this virtual machine provide?

A — Berzeck from NULS: To run smart contracts you need a virtual machine to execute them in the deployed nodes, the same with solidity on Ethereum. It translates instructions to machine code JIT (“Just-in-time”) on any target platform seamlessly.

Q — Telegram user Raghav: For creating smart contracts, why should any developers choose the NULS platform rather than any other blockchain project?

A — Berzeck from NULS: We have products that no other chain has, products that are also difficult to copy. We provide a very good alternative for companies that want to enter the crypto world. With other blockchains, they offer a lot of tools to build but you still need to hire an expert to do it, which costs time and money. We offer them a way to reduce costs drastically. That's why our product is so important. After all, companies only care about reducing costs and increasing income.

Also, we provide free direct support to our partners, not just community-driven. This means we invest a lot of time in every single one because we know that to compete with Ethereum, having a great platform is not enough. We need to offer more, and our direct support was well received by our partners!

Q — Telegram user Belalang kupu Kupu: What are the algorithms used by NULS for fast and scalable transactions? There are already many projects which work on scalability with both Layer-1 and Layer-2 solutions. Why would NULS be the best choice?

A — Berzeck from NULS: No matter what technology you think is the best now, be sure that in 12 months in crypto a new one will rule. Only those blockchains that are prepared to evolve faster will survive and thrive long term. Adapting and evolving is in our DNA, so if project X finds the ultimate solution, we will adopt it and deploy it to companies (with Chain Factory) probably even earlier than the project X itself. As explained, our strategy is to use the great work from others (the core of open source) and make it a success in our project.

Q — Telegram user Resty Cesz: Why did you choose to design the NULS wallet?

A — Berzeck from NULS: A wallet is a basic indispensable tool every crypto should have. Our wallet is great but we didn’t put much effort into it a lot of features. We did however provide an API so that coders can make their customized wallets.

Q — Telegram user Jerry Anggara | Alisha Kanya Ahalya •√: How can one build a blockchain at no cost with Chain Factory?

A — Berzeck from NULS: Please visit the Chain Factory page for more information.

Q — Telegram user Jonas Becker: Security, interoperability and scalability are very important for blockchain projects. What solution does the NULS project have on these problems? Why should I hold NULS coins as a long term investor?

A — Berzeck from NULS: We have a variant of DPoS (Delegated Proof-of-Stake Consensus) system called PoC (explained above) which is very efficient as we process blocks every 10 seconds. We didn’t make this more efficient because we would have had to sacrifice decentralization (like EOS had). Thus, as everything is in real life, finding a good balance is the key to success and I think we found the right balance between efficiency and decentralization.

For investors, we already have partners building solutions around our blockchain, even with the brutal downtrend market. Some companies understand the potential of our solution, so we have a bright future in the crypto landscape. A curious thing is that we didn’t even try that hard to get partners on board (we just changed focus this month as explained). So, as investors, if you want to invest in a long term blockchain that has a long term plan and goals, we are good for you!

Q — Telegram user Srintiel: What important role does the CCC give to the NULS wallet?

A — Berzeck from NULS: CCC, now NTC (NULS Technology Community), is the team of developers being paid with rewards given by the staking community of NULS. The plan is for every developer to migrate to this scheme slowly so our operation becomes completely self-sustained in the future. We have no rush though even though I think we accomplished 30 to 35% of the target.

 

Token

Q — Telegram user Julye: Swap function of the NULS mainnet will stop on March 21st! If someone does not have time to change tokens, will he lose his tokens after the specified date? Is there any commission charged during the exchange?

A — Berzeck from NULS: Swap function is for tokens held before mainnet launch in July 2018, so it’s time we just let ERC-20 token die peacefully. We did alert several times, in 2018, 2019 and now.

Q — Telegram user Kotex: Most investors choose tokens with high and stable prices to trade. How do you plan to focus $NULS token prices higher?

A — Berzeck from NULS: We want to get investors on board, not traders. Also, we are not trying to manipulate the price directly. Therefore, we cannot promise some price targets, but let me tell you this. Speculators are the biggest reason for crypto volatility and that’s fine with us. Instead of fighting them, we want to offer good products and hence more reasons to do their job. In the upward trend, it’s cheaper and more profitable for them to speculate upward than downward.

 

Partnerships

Q — Telegram user Sicxa: Can you tell us about NULS’ business partnerships, and how has your business development progressed until now?

A — Berzeck from NULS: Already answered above, but I may add that finding the first ones is always the most difficult part because most companies want to be sure that other companies already use your platform successfully before risking time and money building their core products around it. Gladly, we already went through that catch 22 phase successfully and now it’s time to reach more partners.

Q — Telegram user Joo: I see you have a lot of partners. What benefits does NULS get from collaborating with partners such as OKEx, Nabox, and Pink Sky?

A — Berzeck from NULS: Do you know why BTC is alive? HINT: not because it has the best ultimate technology. In fact, many other projects have better technology than BTC. The reason is that BTC has managed to create a huge industry around it, and that’s what we are going to do at whatever cost. It will take some time of course, but we are definitely on the right path. Later on, our strategy will be to incubate for-profit companies that share revenue with us. For example consultancy companies around blockchain and Chain Factory may be the first in the future.

Q — Telegram user Sicxa: Are there any upcoming partnerships?

A — Berzeck from NULS: We have 2 more partners lining up for the SCO process and about 20 interested in the Chain Factory.

 

Business Development

Q — Telegram user Rsty: How many users and business partners do you have right now? What is your total turnover presently and what promotions and marketing are you doing now for adoption?

A — Berzeck from NULS: Just counting Chain Factory and SCO, I think we have more than 10 partners already building solutions using our products, and a lot more interested.

We just hired Multiplied, which is the marketing company that Binance uses, so we are ready to let our products be known in the crypto-verse after 2 years of heavy development.

We have the slogan: “Work first, Pump later!” which is something that builds trust with our investors and community.

Q — Telegram user FOREST™: What measures were taken by NULS to detect and protect itself from vulnerabilities and exploits?

A — Berzeck from NULS: We’ve just gone through a very careful internal audit and we expect to have third party audits later this year when the core code is stabilized (no more new features for some time).

Q — Telegram user FOREST™: To SURVIVE in tough crypto market conditions is difficult, and we see that many projects are far from the targets. What is NULS’ strategy to survive in this long blockchain marathon?

A — Berzeck from NULS: We have a fiat line so we are not worried about winter right now. In the future, the idea is that everybody will be paid with rewards of nodes themselves.

Q — Telegram user Ellkay: How do you see NULS 2.0 competing with ETH 2.0? Also, why is the ERC-20 NULS token still in circulation, even though your mainnet is live? What’s your plan for the token swap?

A — Berzeck from NULS: Many coins have wonderful ideas but if you do not evolve and adapt fast you will get difficult times ahead in the long term, we are prepared to do that faster than anyone.

About ERC-20 tokens, that’s something we cannot control. Users have the right to still hold those tokens, the swap ends March 21st.

Q — Telegram user KNGDMzamanı: What are some of the major achievements that the NULS project has achieved and what milestones are planned in the next 6 months, 1 year and 5 years?

A — Berzeck from NULS: We have a very competitive portfolio of products so now we are confident to hire a marketing company helping us to spread the word. We will focus this year on getting a lot more partners because that is something BTC has done right. They have managed to build an impressive ecosystem around it, so we will do the same at whatever cost needed.

Q — Telegram user Gabriel Angel: How does NULS attract new companies?

A — Berzeck from NULS: Well, many companies are starting to contact us thanks to our Chain Factory solution and we expect many more to come. Once we make this known with a marketing company, it seems we will not need to knock on doors one by one! 😬

Q — Telegram user Gue Siapa: You organized a lot of AMAs and received lots of questions about the technology and benefits that NULS brings. What do you want to receive from the community? What will NULS do to build a thriving community that truly cares and supports the project for the long term, not just for a temporary profit?

A — Berzeck from NULS: We want to attract investors, not traders. In this regard, we invest a lot of time to explain and guide new community members on their crypto journey. We even welcome people that do not hold any NULS. Just taking a look at what we are doing is enough for us. We don’t need short term gains. We are prepared to work for years in crypto winter if needed.

Q — Telegram user S.A.M. Crypto Trader: Can you explain which types of services are provided by NULS projects to businesses & Developers which are building on Nuls projects? Also, what are your plans for the expansion of the project?

A — Berzeck from NULS:

· Nulstar: Microservices infrastructure to create distributed systems.

· Chain Factory — Build your blockchain with a few clicks!

· Chainbox: More powerful but more difficult to use. For power users

· USDI: Stable coin protected by smart contracts

· SCO and POCM: New funding a distribution mechanism

· Governance: Voting mechanism

· Tools: Wallets, explorer, etc

· Next on the pipeline:

· Nerve Network: Cross-chain solution like COSMOS

· DEX: Decentralized Exchange

This is the list of products we have. Beyond this, we offer direct technical support to our partners so they can build their products successfully.

The plan now is focusing on spreading the word and polishing our products. For that we hired Multiplied, which is a recognized marketing company that will help with this. We start this month so surely you will hear more from us.

Q — Telegram user Jerry Anggara | Alisha Kanya Ahalya •√: How will NULS empower investors, companies, developers, and platform users to deliver impactful solutions and bring value to people all over the world?

A — Berzeck from NULS:

Companies: We have very good and attractive products for them.

Developers: We are slowly migrating from fiat line to rewards from the network itself (staking community funds) so when the price rises developers will have very nice ‘paychecks’ for their efforts!

Investors: I believe that earning money should be a CONSEQUENCE, not a CAUSE by itself. Like good capitalism, it should be a consequence of working hard and taking the time to make great products before pumping them. We believe in good capitalism so I think we provide the best value to our investors because when we announce something, then its release is imminent. In the end, even if the short term does not pay, long term investors will trust us and we will attract more investors instead of traders, which is the objective.

Q — Telegram user Mayowa: Your road map has ICE, WATER AND STEAM. What else is in store for you? Is that the end of the road?

A — Berzeck from NULS: Of course not! After we get a good amount of partners, we will be able to visualize better our next steps thanks to the feedback they provide to us, it is better not to try to go too far in the future especially in crypto as things change very fast.

Q — Telegram user Gabriel Angel: What is NULS’ business model? Who are your potential customers and which markets are you targeting?

A — Berzeck from NULS: Chain Factory has a basic free version and advanced modules and tools have costs like cross-chain module, web wallet and explorer.

Our potential customers are the huge number of companies that are curious about how blockchain can increase income and reduce cost so the key is reaching to them, something that our marketing strategy will help.

Q — Telegram user Animal — Newbie: What’s the global strategy for NULS? Turkey are the most active traders of the token and have a massive online gaming industry, do you have plans to grow your presence in ASIA? Or is the USA the priority over others?

A — Berzeck from NULS: There is a team in China that oversees the Asian operation. We also have a team in the USA which oversees western operations, but many members live in different countries (I am located in a country in South America). For this, we have an Ambassador program. To learn more about the ambassador program, it’s here.

Q — Telegram user Errol: Complete at least 20 industry solutions and build a new ecosystem based on NULS — this is your plan for the beginning of 2020. Tell us exactly which industries you have implemented your blockchain in, and in which countries and companies?

A — Berzeck from NULS: We have more than 10+ partners. It is difficult to count because China has a team. We have for example, Veritag which tracks products. We have Token Network for e-commerce. We also have OWD for gaming in China, and so on. We managed to get partners from different kinds of industries so we will have a lot of experience implementing blockchain solutions in different areas. One of our MOST important partners is Aleph.im Network, who are creating a second layer solution around NULS.

Q — Telegram user Mayowa: Since your mainnet, what improvements have you had? Does the mainnet bring any sort of benefits?

A — Berzeck from NULS: We had the most stable v1 mainnet with zero critical errors, just some annoying bugs. We want to maintain our core blockchain clean, fast and secure so it is easy to maintain. Functionality is being added in layers, like Aleph.im for example.

Q — Telegram user JackTrader: Developers and communities are important for the success of a project. How do you go about this?

A — Berzeck from NULS: 30–35% of the members already being paid by network and the trend will continue until we reach 100% in the upcoming years, the higher the price, the better paycheck for you! With respect to the community we have help from Multiplied, a marketing company, and we also invest a lot of time to guide them and answer all questions (something you may have noticed in this AMA 😬😬😬)

 

It was great to share these hours with you guys. Please be free to contact me for further questions. I do not mind if you don’t purchase any NULS. I will answer all of them anyway, I will just ask to be around and look at what we are doing. You never know, maybe you will like something ☺️☺️

Please consider joining official Twitter and mine if you want to get teasers about upcoming news. Join our Telegram too. — Berzeck from NULS

Awesome, man, I’ve never seen someone so dedicated to answering all the questions. It goes to show you believe in and like what you do.

Thanks a lot Berzeck for coming in our group and telling us about the rich ecosystem of NULS! How it can help people create their blockchain with their own rules very easily (amongst other things!). It’s very nice that you have these values of fast adaptation and serving and guiding your clients in the new world of blockchain.

Best of luck in the coming months with the marketing push and keep us updated on how things go! Curious to see how the SCOs will go :) — Alexandre R from GAINS

 

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NULS is a blockchain infrastructure for customizable services, driven by our global open-source community


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Nuls

NULS is a blockchain infrastructure for customizable services, driven by our global open-source community

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