Modular Blockchain : Key to Mass Adoption

Blockchain is a revolutionary technological solution which has recently gained some publicity on how it can counter some modern world problems. Modern world problems such as double-spending are eliminated by cryptographic mechanism that eliminates the need of a trusted third party for validation.

We’ve seen a plethora of blockchain platforms providing services to other blockchain start-up. However, these companies are already blockchain-ready as it is part of their business model. For example, the decentralised apps (dapp) running on Ethereum network, create their own set of cryptocurrency (ERC20 tokens). Programmers are employed specifically for their familiarity with the blockchain technology. Recently, we've seen how Ethereum network was clogged up by cartoon cats. This sheds some light about how the blockchain architecture can be improved. Decoupling a dapp from the main blockchain and letting it run on a private sidechain would be very appealing. This what Nuls is aiming to strive. The challenge for Nuls will then be : How can Nuls ensure that sidechain will have speed and scalability? The answer perhaps lies within Nuls blockchain architecture. The upcoming Yellow Paper which is due to release soon could provide an answer.

There exist another open-sourced Modular Blockchain Platform : Komodo. Komodo is currently sitting on a USD$1 Billion market capitalisation. How about Nuls's market capitalisation? Just 10% of Komodo's.

So what makes Nuls very attractive? The ergonomically-functional blockchain architecture will make it accessible to those with minimal knowledge of blockchain. This is the golden key to mass adoption.

As previously mentioned, Nuls was born right after the team had worked on Inchain . This could be the catalyst of Nuls development when the team were made aware of the current problems and woes revolving around blockchain adoption faced by Inchain project partners.

The two main problems identified were:

Lack of trained blockchain personnel A private chain running privately (centralisation)

As blockchain is a new technology, there could be a premium pegged to skilled programmers. The cost of hiring someone proficient might not be justifiable for an existing business as they might already have their own in-house programmers.

A private blockchain would just be a centralised blockchain, vulnerable to attacks and security lapses, leading to a compromise in data integrity. It would be the same as not having it in the first place.

How about those companies or individuals that knows nothing ( just like Jon Snow) about blockchain and wants to use them?

We cannot simply ignore established companies of yesteryears. These traditional companies and businesses will still exist even without blockchain. However, by tapping into the potential of blockchain technology, they will be able to improve their own business model. This translates to business efficiency and profit maximisation.

An analogy of a modular blockchain would be a “Lego” which simply is a 'plug and play' model. Many have analogise Nuls as a 'Wordpress' type blockchain platform. This model allows companies to customise and tailor their sidechains depending on their needs. In addition, Nuls is simplifying the programming of blockchain depending on the programmer's proficiency. A basic suite will be provided for developing but a full suite of tools will be offered to the highly experienced programmers. The Nuls platform aims to minimise development time by ensuring simplicity and focusing on functionality. Simple Translation : Business-Ready

Wouldn't it be contradicting to have an open source project run a blockchain for a private company?

The modular nature of Nuls allows business blockchain to be isolated from data breach and protected by cross-chain audits. Confidentiality of the private chain will be enforced. Having a neutral node to run the blockchain ensures transparency in running the entire blockchain. The punishment system implemented by Proof of Credit will regulate compliance in the system.

Why would I want to run a node for Nuls especially for a private sidechain?

In other to maintain a sidechain, the sidechain owners are required to pay a set amount of Nuls which will be dynamically priced in relation to the current pricing. A reasonable pricing will make Nuls an attractive platform for companies and businesses to adopt. The amount of nuls required for sub-chain maintenance will be determined and voted on by the community in the future. As the number of quality projects working with Nuls increase, the value of Nuls will also increase.

Nonetheless, Nuls is poised for a great future in the global cryptocurrency market. As the world gets acquainted with the blockchain technology, Nuls is in position to make it easy for business, companies, institutions and corporations to adopt the technology.