RECAP - NULS x BINANCE AMA from 14 October

RECAP - NULS x BINANCE AMA from 14 October

By NULS | Nuls | 14 Oct 2020


Hi,

In this AMA Recap we will try to summarise the most interesting points for you.

Zest (Binance Nigeria): It's my pleasure to welcome you to another exciting AMA. This time with the NULS team.

Just a quick recap...

As those who participated in our previous  AMA are already aware, the AMA will proceed thus:

We will have 3 Segments.

Segment 1:

Will ask the guest 5 questions.

Segment 2:

NULS Team will ask the chat a total of 10 questions. A link to a google form will be sent into the chat for the questions. The Google form will accept submissions for 12 minutes. Participants must fill in: (a) telegram username - (b) Binance ID - (c) Binance Email. There will be $250 NULS to be airdropped to the first 50 people who answered ALL 10 questions correctly.

Segment 3:

Will open up the chat so you can ask Panelist questions. Please take the time to think of some good questions, which will underline quality and uniqueness. de_Zest  will then mute the chat and the #NULS team will have 5 minutes to answer as many as they can. Prizes will be given for the best questions. We will have 3 rounds of this. Another 150$ in NULS will be airdropped.

Please join me in welcoming Berzeck , Western Regional Director, NULS and GeorgePro, NULS Africa Ambassador!

Berzeck: Hello everybody! hope we have a good time learning more about NULS and Nerve while earning some rewards!

George will be a little late today so I will do all AMA

Zest (Binance Nigeria): Thank you

 

Segment 1:

Question No 1: What is NULS and what is its tokenomics?

Berzeck: NULS is an open-source, enterprise-grade, adaptive blockchain platform that offers fast-track business solutions for developers. Featuring microservices, smart contracts, cross-chain interoperability, and instant chain-building, NULS sets a new industry standard in streamlining blockchain adoption.

NULS has 210M max supply and 97.6M in circulation. Every month the amount of total rewards being generated is reduced by 0.41%.

NULS offers unique products and features that are difficult to copycat, starting with Nulstar which is its microservices infrastructure which gives it the ability to adapt and evolve faster than anybody else and to build products no one else has, like ChainFactory, SCO, etc.

Zest (Binance Nigeria): Fantastic, thank you very much for the great answers

Obviously there are a lot copycats blockchain and I can understand what made you want to add your voice. So that takes us to next question.

 

Question No 2: What is Nulstar and how is it related to microservices?

Berzeck: Nulstar is the base microservice infrastructure on which NULS and Nerve are built, Microservices is a new way to develop software on which each module is an application itself and they connect between each other using a standard interface and protocol;

this allows developers to write modules in any development language they prefer and deploying them individually.

Systems written with microservices architecture tend to have less downtime (when done right) because the system doesn’t need to be shut down to perform an upgrade as it can be  incrementally and continuously upgraded; what is more, the architecture gives more flexibility in the way they can be deployed, for example, individual modules can be deployed to other servers if they need more resources than the rest of the system

This type of architecture is being implemented by the biggest software companies in the world like Microsoft, Google, Facebook,etc.

This begs the question: If it's that useful why isn't everybody using it? The main reasons include:

* You need to design and write most of the application from scratch and that is very expensive

* It's easy to make wrong decisions in the design and the advantages of using microservices disappear. People with experience in this architecture is required

Microservice has given NULS and NerveNetwork the ability to adapt and improve a lot faster than the competition

Zest (Binance Nigeria): Beautifully said , so this has done a tremendous job mitigating a whole lot of development overheads? Right?

Berzeck: exactly, when implemented right, making progress is a lot more efficient

well we can proive it!

thanks to this we have developed Nerve in 9 months which is a new blcokchain for DeFi (more on this later)

Zest (Binance Nigeria): Great job, this's apparently going to where there's no path and leaving a lasting trail .. good job

Berzeck: WITHOUT  any single serious issue on mainnet!  even projects with larger budgets cant match our development records.

Zest (Binance Nigeria): That's amazing

Ok, that takes us to the next question for the evening.

 

Question No 3: What are the unique products NULS offer?

Berzeck:  glad to answer that question!

Zest (Binance Nigeria): Go ahead please:)

Berzeck:  So, the most important products we have that gives us competitive advantage are:

* SCO Program: Projects that build upon NULS have the opportunity to participate in the SCO program which enables investors to stake their NULS into these projects and stakers receive the project’s tokens, and the team behind the project receive the NULS.

This is a great funding and distribution alternative because people never risk their assets and puts pressure on the project to make progress fast because people can withdraw their staking at any time they want, unlike IEO and ICO.

As investors' assets are always protected no matter the project is a scam, this distribution method may be more regulation friendly.

Also, it's a very good distribution method because people staking are more likely to trust the project longer term unlike plain airdrops which tend to cause horrible pump and dump patterns.

Aleph was the first successful project we incubated on which early stakers saw amazing returns without ever risking their assets, we have a lot more going through the process right now so you can choose on which ones to stake.

Visit pocm.nuls.io for more information.

* ChainFactory and ChainBox: ChainFactory offers companies and enthusiasts the ability to build their own customized blockchain, this is designed for non-developers using a very intuitive and easy to learn interface on which selecting modules from a menu and introducing very few parameters are the only thing required to build your own functional blockchain.

But that’s not all, blockchain builders also have the option to download an explorer and a ready to use web wallet for your brand new blockchain!

ChainBox is a more powerful version of ChainFactory which is aimed for developers, in fact NerveNetwork was built with the help of this tool, it requires deeper knowledge about blockchain and how everything works together.

It is very important to highlight that our products are already being used by real companies that need to solve real problems and not just ideas on a PowerPoint presentation.   Visit factory.nuls.io for more information.

Zest (Binance Nigeria): Thanks for that, wait a minute, this sounds so pleasant to the ears and I'm wondering, this SCO, what consensus algorithm does it use. PoS?

Berzeck: NULS use PoC, which is derived from DPoS with this featrues:

* has an embedded mechanism to punish bad behaving nodes

* it is fast and has no cap for consensus nodes

* it has mechisms to make protocol upgrades easier

SCO program is a NULS based product so it is regulated by PoC as well

Zest (Binance Nigeria): I can't quite pick your brain on that right now lol.. I'll do my research immediately after this.

I hope you guys are paying attention to this, the quiz questions are all from this session... that's a heads up to y'all

So the next question:

 

Question No 4: What is NerveNetwork and what relation has to NULS?

Berzeck: aahhh now we are talking!

NerveNetwork is the cross-chain DeFi proposition for the NULS ecosystem, it enables several types of assets to coexist among the same guarantees and features so developers can write just one interface and have access to all types of assets supported by the network.

Right now, NerveNetwork supports ETH, USDT, USDC, UNI, WBTC, NVT, NULS, ALEPH and several others, Binance Smart Chain and Bitcoin are scheduled for support in the upcoming weeks.

Assets in NerveNetwork enjoy very fast transaction times, 2 seconds, and high processing bandwidth at 2000+ TPS,and transactions just need 1 confirmation to be considered safe.

All these features are required to build high quality dApps specially in the DeFi industry.

NerveNetwork also is the first blockchain that implemented cross-chain staking, so ETH, USDT, UDC … holders can stake their assets and earn NVT  at very good return rates, what's more, NULS, NVT and ETH holders can choose to stake for longer commitment periods and earn more rewards in proportion.

it has 3 types of nodes:  normal nodes which validate transactions, consensus nodes that process and add transactions to the blockchain and virtual banks which add and validate cross-chain transactions.

To allow all this, some compromises were made, for example Nerve does not have a smart contract engine but uses NULS’ one so NULS and Nerve depend on each other to succeed and thrive.

Nerve has a max supply of 2.1 B  and current circulations is around 225 M. The disinflation rate is 0.822% every 100 days.

Visit nerve.network  for more information

whitepaper: http://nervefiles.oss-us-west-1.aliyuncs.com/wp/Nerve_Whitepaper_EN.pdf

Zest (Binance Nigeria): This's a next level stuff . So I should be excited about the integration with Binance Smart Chain. I mean, among other things, this part is difficult to ignore .

Berzeck: yes, Binance is a very important partner for us

Zest (Binance Nigeria): You guys are so ambitious considering there wasn't even an ICO... this's just terrific

Berzeck: thank you for your kind words, and the most important thing is that everything i am talking aobut is already working and in production

not just ideas... we have the slogan "develop first pump later .."

sadly we are notoo good on the pumping part. so we want help from community, try our products

Zest (Binance Nigeria): That slogan is rare in the industry

Berzeck: and talk about them... nothing else

Zest (Binance Nigeria): Impressive!!

Berzeck: yes, long term creates trust from our community, they know when we announce seemthing is already a done deal

Zest (Binance Nigeria): So, my last question for you:)

Berzeck: go ahead!

Zest (Binance Nigeria): Let me just say I admire your passion!

 

Question No 5: What is NerveDEX?

NerveDEX is the first application that was built upon NerveNetwork, it’s our DEX offering that enjoys the amazing speed Nerve offers with very cheap fees.

Just 2 seconds needed for a complete transaction at a fraction of a cent, considering that NerveDEX supports multiple types of assets (not only ERC20 based ones) sounds a very good deal.

People are also allowed to add their own pairs at a cost of 2000 NVT (less than 300 USD at the time being), they can choose among all assets supported by Nerve.

Liquidity options are being analyzed and in the future will be integrated to NerveDEX.

DEX's will complement CEX in the short term so no, we are not trying to compete with BINANCE  , CEX is a lot more efficient as they do not need to rely transactions to other nodes, so for high frequecy trader CEX will rule for the time being

for investors DEX are a good alernative

Zest (Binance Nigeria): Binance welcomes new and disruptive technology as yours.. good humor though

Thank you very much for these fantastic responses and you've enlightened us .

 

SEGMENT 2:

Zest (Binance Nigeria): Please go ahead and answer as many as possible

Your five minutes starts now

 

LongGone®: Could you explain how Nuls mining service works? What is the requirements to join Nuls mining program?

Berzeck: Acquiere some nuls on binance and go to wallet.nuls.io

transfer your nuls there and choose the stake option.. you need a minimum of 2000 nuls to stake... alternatively you can stake in our projects a pocm.nuls.io

which has less requirements (from 100 nuls)

 

Mustawarizh Berwick: What are the major milestones NULS  achieved so far and what are the next target in the futures ?

Berzeck:  we built 3 blcokchains in 9 months each without a single serious  issue on main net, something  we didnt hear of other projects with a lot more budget

(nulks 1.x, nus 2.x with microservices, and nervenetwork)

so our development team is second to no one

the schedule now for nuls is to be compatible with eth2 ewasm smart contract engine

have more cross chain options

integrate a lot more asset type to nerve.network  including Binance Smart Chain

and of course bringing more projects to build above ouor platform, we also give free direct support to companies bulding using our platform and thats another reason why they choose us instead the mainstream options like eth

 

A U R O R A: Why did you split NULS and NERVES as two different projects when all functions and features can be embedded in ONE?

Berzeck:  you couldn't embbed in one ,  instead of having one bloated  fat blcokchain that tries to do everything we split in 2 with different requirements and goals

nerve  needs to be fast (2 seconds blcokc genartion and 2000 TPS) and needs to support  a lot of assets

and enable cross chain staking

to achieve this the design is different, for example it does not have smart contract engine

it uses NULS's one

Zest (Binance Nigeria): I think that'll be all for the first part... great job Berzeck

 

Para #EndSWAT: Tell us about Goblin Swap that's recently launched.  Any plans to launch an incentivised liquidity mining campaign? Are there any Mining guidelines on Goblin Swap

Berzeck:  goblin is our newest partner, which offer collectibles (like crypto kitties) it had  great support as people staked 8 M nuls (2 million usd) in just one day

the only reason  Goblin was not in our SCO platform is that they needed NFT token support which SCO does not supprot yet (it is scheduled)

so you send nuls to a contract and the product takes care of everything else

there are plans to incentivize liquidity in nerve which will be disclosed in the future

 

Henry: Hello sir, Berzeck what are the ways I can stake NULS? Is it possible to stake NULS in Aleph .im? What are the rewards rate?

Berzeck:  Aleph was the first project incubated through SCO program and was wildly successful, early stakers enjoyed  insane returns without ever risking their cpaital

thats the beauty of our SCO program, you never risk your capital

Aleph right now is not offering alpehs through SCO platform any more for the time being, but we have more projects incuibating there

including Earhart (aviation industry, unique with no competition in eth), vibook, plc, etc

you can stake nuls with a minimum of 2000 NULS at wallet.nuls.io or download the wallet

 

Olushola Abiyodun: Why did the team decided that Nulstar to be programed and executed on C++ and not other new and advanced programming languages out there?

Berzeck:  C++ is second to none in efficiency

there is no "advanced" development language  that can be more efficient

with  C++20 standrda there was a lot of features added that newer programming languages enjoy

also personally, I have a lot of experience in C++ so it was a natural choice.

NULS modules are developed in Java

thats why it is important our microservices architecture, we can blend any language  to develop modules

so if you are good with pythin, assembler or whatever, you can integrate to our infrastructure seamlessly

and we are the first ones that achieved this

Zest (Binance Nigeria): Thank you Berzeck, you are so thorough in your responses.

This leads us to the last part in session three

Berzeck:  thank you, i usually answer all questions but that takes hours, my recod is near to 6 hour AMA, its important that people understand what we are doing so i take the time...

Zest (Binance Nigeria): lol, this last part you'd have more time

Berzeck:  if anyone has more questions please join our channel and will answer there after this AMA

 

SEGMENT 3:

Retired Hunter: We are living in the advent of YIELD FARMING and Liqiudity Mining, can you share your personal opinion on Yield Farming and also Briefly explain your Liquidity Mining Program

Berzeck:  ok, so DeFi is the buzz word because finances already deal with abstract entities easy to model and adapt to blcokchain infrastructure

thats why many are onboarding to the DeFi train... so  as we all know most people in crypto just want to make profict as fast as possible

it doesnt matter if thats good or bad its just reality, so  yield farming  is one of the most efficeint oways to do that for know

rampdefi.com (which is our partner) is doing that above nuls and nerve

personally i don't share the obssession to have earning as fast as possible but its a reality we live in so we must adapt , and we are offering the option as well with our partners

NULS and Nerve are about adapting as fast as possible, and we are doing that regardless of we agree or not we give people what they want.

 

Basu: NULS is currently going well and is receiving positive attention. What will you do to get more exposure and adoption? What is the #NULS message for the Community today?

Berzeck:  yes, we have a new community,, starting from March we restructured completely and we are almost a new coin (we should have rebranded)

important thing is we finished our unique portfolio of products

and now is time to spread the word, so we have a marekting company that will help (new one) in this regard  and i will personally have more AMA in several channels

the only thing we would like from community is just to learn about our products, i am not asking to  spend their hard earned money on us, i am just asking people to learn what we offer

i am 100% sure that sooner or later you will find something you will like 

 

Abimbola: What is the difference between Proof of Credit PoC and PoS? Is PoC created by Nuls? What advantages does it have over other consensus mechanisms

Berzeck:  Above PoS , DPoS was created on which the number of consensus nodes that adds trasnactions is reduced and the efficiency is increased a lot

in nukls case 800 - 1000 TPS and 10 seconds transactions in case of Nerve 2000+ TPS and 2 sceonds for transactions

PoC is an improvement of DPoS because it embedds a mechanism to punish bad bahving nodes

so if a node wants to double spend for example, the the other nodes notice and emmit a yellowe card.

which means the punished node receive less reward in proportion

the more yellow card the less rewards it receives until eventually is taken out of the network wqith a red card

PoC is our creation indeed and has gained an technology award in chian if i rememebr correctly

PoC also has provisions to make protocol upgrades easier

 

Siddik: Could you explain what’s the main difference between Different nodes ( Normal, Consensus & Virtual Banks ) of Nerve?

Berzeck: 

Normal nodes: validate transactions

Consensuse nodes: are the ones that introduce new transactions to blcokchain

virtual banks: these introduce and manage CROSS CHAIN transactions

so normally a Dpos architecture has 2 type of nodes (the first ones i listed here) but we introduced a third one to enable a cross chain environment in nerve

 

Basu: What opportunities does the NULS blockchain give the use of several programming languages Does this help in attracting new developers to the NULS ecosystem?

Berzeck:  exactly NULS 2.x itself is written in 2 languages Java and C++, i am C++ developer so the main infrastructure modules are written in C++

so we are not  bound to any development language, we  maximize developers potential  to build complex products (not only blcokchains) in their favorite language

this will prove a great decision in the future

Zest (Binance Nigeria): Two more answers please

 

BTC: Today, there are many blockchains for creating DApp. What are 3 reasons why a developer should choose a NULS Blockchain to create his DApp?

Berzeck: 

1] We offer a lot of unique tools  for this

2] We offer a direct way of funding and distributing your tokens  with the SCO program which already had espectacular results (check aleph.im for example)

3] we offer direct supprot to ouor projects (not just from community) and not only technical support but in ALL areas

including community

distribution, tokenomics, etc etc  because we have learned a lot  this time and already made many mistakes we do not want our companies make

so we increase a lot their success chances

 

Basu: What challenges have you encountered so far and how have you been able to conquer such challenges?

Berzeck: how to develop a new blcokchain from scratch in few months without a big budget

how to develop a new blcokchain from scratch in few months without a big budget

with an architecture nobody used in crypto

thats probably the biggest technical challenge we had

as our development team is great we achieved to do this  and not only  with nulks but with nerve as well, and didnt have a serious issue on mainnet... we also had just 1 security issue reported in nuls

the challege we have now is how we spread the word about the products we already have

 

Calvino Escobar: As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?

Berzeck:  we are an organization which its members are distributed around the globe

usa, china, bolivia, brazil, franca,  switzerland,etc

we already worked from home so  covid 19 didnt affect the progress at all

it was just another day in the officie for us, we never stopped development and thast why we managed to create great products in these catastrophic months

gladly we already have the organizational structure that permits  efficient global development

de_Zest (Binance Nigeria): Fantastic job

Berzeck:  one more thing is you i let me please

de_Zest (Binance Nigeria): sure

Berzeck:  Additional 300NULS for grab! You guys were awesome, doing AMA with you was great and educative. Even if your question is not selected, we have a package for you. First 100 people that comment their address in the NulsAfrica telegram channel https://t.me/NulsAfrica would have a share in the 300NULS giveaway you need to join https://t.me/Nulsio as well

de_Zest (Binance Nigeria): Go get it guys

Any closing thoughts or words to your fans and supporters?

Berzeck:  yes, as I already said i am not asking for people to spend money, just try to learn more about our products, we dont need money so we are here for the long term, we already have companies building real solutions from real problems, but we need help from the community to create awarness, please help us with that !

de_Zest (Binance Nigeria): Beautifully said!! Ladies and gentlemen, we've come to the end of this great AMA!!

Thanks to the panelists @Berzeck1 and @georgepro1 and the Binance Africa CM @Anehita for the great job. Thanks to @officialShola who's working behind the scene.

Berzeck:  thank you everybody! thank you host for this wonderful AMA

Join our social media and explore NULS!


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


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

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