NULS Bi-Monthly Update — SCO Lab Launches and Initiates the SCO 11

First Half of August 2019

Core Technical Progress

Design and development of POCM (Proof of Credit Mining), is in progress at the front and back-end. POCM is the underlying mechanism that services SCOs, where NULS holders can freely choose high-quality projects and stake NULS onto POCM smart contract obtain project-issued tokens.

2. Release of NULS 2.0 Beta 3 heralded a successful switch from the NULS 1.0 testnet to the NULS 2.0 testnet.

3.Optimization of the NULS 2.0 wallet after processing feedback given by the community;

4. Completion of the Maven plug-in development for the NULS 2.0 smart contracts.

5. Continued stress-testing of the NULS 2.0 testnet for different transaction types and automatic recovery in case of a network fork.

CCC Technical Progress

Please check the work report of NULS Code Craft Council members here.

Business and Community Progress

1. NULS and BitSG form a strategic cooperation to herald a new era of comprehensive chain-building.

On August 2nd, NULS announced its partnership with BitSG, Singapore’s top blockchain service provider. Both sides plan to provide services that cover project incubation, business applications, and token circulation. This cooperation between NULS and BitSG will help to create a model that combines excellent technology with practical business application to benefit the blockchain industry.

2. On August 2nd, 2019, NULS Co-founder Reaper Ran, had an online AMA with the BitOranges community to introduce POCM, the mechanism underlying SCO capability.

3. On August 3rd, 2019, the NULS 1.0 test network was upgraded to the NULS 2.0 test network during the upgrade drill.

4. NULS and EDA formed a strategic partnership and EDA will be built on top of NULS 2.0.

NULS has also formed a strategic partnership with EDA (Enterprise Digital Alliance). EDA will employ and recommend use of ChainBox for building ecological chains. NULS will provide technical support and will be working with EDA to promote community growth and ecosystem construction.

5. The NULS Online Hackathon has been extended to September 20th.

In order to reach more developers and make them familiar with ChainBox, especially in the process of business module development, the Hackathon completion date has been extended, with the original incentive scheme unchanged. Find more details about the Hackathon here.

6. On August 7, 2019, the NULS Chinese Community launched “V-day Cheesy Pick-up Lines” on Weibo. Participants can join the lucky drawing by posting a message in the comment section, and then forwarding the activity with a mention to friends in crypto-related circles. The award has been distributed.

7. Reaper Ran, co-founder of NULS, conducted an online interview with Staking2 to discuss the topic; “Interpretation of PoS Staking Economic Patterns”.

8. On August 12, 2019, the NULS 2.0 testnet was re-upgraded. Meanwhile, the mobile app developed by NULS eco-partner Nabox launched the public beta (Android download here).

9. On August 14th 2019, Odaily interviewed several public chain project leaders to share their opinions on project status, difficulties and expectations of their public chains. NULS CEO, Liesa Huang said that she is optimistic about the current situation, and believes the industry is just squeezing the bubble.

10. On August 15th 2019, more than 100 industry insiders supported the SCO Lab online launch meeting. Feedback from media, sponsors, and the industry was overwhelmingly positive, and anticipation was palpable. 50+ Chinese media outfits and 13 institutions jointly welcomed the SCO, a brand new way of issuing assets on the chain. SCO is considered to be the gateway to the Staking 2.0 era.

The first members of SCO Lab involve seven initial sponsors, including NULS, Staking2, BitSG, Xionglin Capital, BlockCapital, HashQuark and BISS. Six co-sponsors include Turbine Capital, CoinALL, Nabox, BW.com, StakingScan, and CoinInn.

11.NULS 2.0 Public Beta has entered its final stage, and the NULS 2.0 mainnet will be launched soon. The 1 million NULS repurchased will be used to stimulate the construction of NULS 2.0 ecological projects chosen by SCO Lab.

12. NULS Community Ambassadors in China, Africa, and Portugal published their Monthly Reports in July:

Chinese Ambassador — Aurora, July Work Report

African Ambassador — Sebastien, July Work Report

Portuguese Ambassador — Joao, July Work Report

Western PR and Marketing Progress

Cointelegraph publishes a news article about the new rewards model introduced by NULS — the SCO.

Yahoo Finance publishes a press release highlighting SCO capability to take a project from concept to college.

Business Wire publishes information about how the SCO can help blockchain projects gauge community enthusiasm for their concepts, supply tokens for early supporters, and generate revenue for projects.

The Merkle publishes an article about how the SCO model can bring legitimacy to new projects looking to make their mark on the industry.

Decrypt publishes an article about SCO, introducing it as a new community-based token staking service that is testing the waters of the crypto market — and producing some big waves.

Sludgefeed publishes an article and shares a video about how the new SCO model allows projects building within their ecosystem can test investor appetite before traditional fundraising, like ICOs or IEOs.

Tunf publishes an article with details about SCOs and staking in the NULS ecosystem.

Cryptobriefing publishes an article about how the SCO model leverages NULS’ existing staking infrastructure to provide an inexpensive, low-commitment alternative to ICO’s or STO’s, allowing nascent projects to obtain funding without actually receiving direct monetary contributions.

4. Community Proposals

1. On August 2nd 2019, the NULS Community Content Contribution Award application proposal was approved. See the results here.

2. On August 8th 2019, Dex.top’s proposal for NULS Community Funds support was approved unanimously. See the results here and the proposal here.

3. On August 11th 2019, Nova Staking issued a proposal for applying NULS Community Funds to stake a node. The proposal is still under discussion here.

4. On August 12th 2019, NULStar-xfans launched a proposal to apply for a community subsidy. The proposal is under discussion here.

Community Council and Governance Progress

Draft and discussion on Council Charter has now been finalized.

2. Discussion on how to manage travel expenses incurred by NULStars.