Bi-Monthly Update-Upcoming Public Beta Test of NULS 2.0

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What has the team been doing in the second half of June 2019? Let’s check it out together!

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  • The development and usage documentation of NULS ChainBox has been completed. ChainBox will be released in NULS 2.0 public beta test on 8th July.
  • The development and testing of the cross-chain and contract functions of NULS 2.0 wallet have been completed, will be released in Beta.
  • NULS Cross-Chain Function Upgrading: Optimized in the following two orientations based on the current cross-chain architecture:

A. Develop an eventually consistent consensus algorithm (POCBFT) combined with POC consensus to accelerate cross-chain transaction confirmation, which is currently under test and optimization.

B. Added a verifier protocol to enable a more direct, faster and safer confirmation of cross-chain transactions, which has been developed and is undergoing the closed beta test.

  • Research and Development of Converter Chain Function: Converter is a blockchain, which docking with all blocks beyond NULS ecosystem, including but not limited to blockchains such as BTC/ETH/BCH/BNB. Converter have been designed and is under development.
  • Two versions of NULS-SDK have been developed, the testing and documents sorting are in process, which will be released in Beta.
  • The first version design of Chain Factory has been completed and is under development.
  • The new website is alive and UI is updated, the more vivid animation scenes can help the ordinary users have a better understanding of NULS.
  • The research on Bancor protocol has commenced, andis currently under technical investigation. Edward and Peak from CCC will be responsible for the development in the future.
  • The improvement of smart contract completion started, and is under the responsibility of CCC member Long.
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I. CCC Progress

  • NULS CCC (Core Craft Council) welcomed six outstanding developers from multiple countries: they are Kathy (American), Tudor (Australian), Nalex (Australian), Long (Chinese), Peak (Chinese) and Pen (Chinese).
  • In the latest CCC meeting, Holacracy was confirmed to be used to solve the management problems of CCC, the council circle of CCC was created at the meeting, and the candidates of the council were confirmed as well.

The regulations for the developer circle and the document contributor circle are being proceeded and discussed. Details of the regulations will be released to the Community once confirmed.

2.Business & Community Events

Chain-building is an inevitable trend. NULS will release ChainBox , the core chain-building product, to initiate NULS 2.0 Public Beta

  • We are delighted and excited to announce that NULS 2.0 based on micro-service architecture will initiate the global Public beta test on 8th July (GMT+8). NULS ChainBox, the core chain-building product of NULS 2.0, will also be launched synchronously. With ChainBox it is possible to achieve chain-building within 10 minutes.
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Masternodes.online , a well-known integrated service platform for node information listed NULS.

On June 17, the DPoS consensus mechanism category was newly added to Masternodes.online, a well-known node integrated service platform. NULS became the first DPoS project launched online, and this category has been included into MNO’s existing masternode list to provide more direct information for investors and enables them to easily and comprehensively compare DPoS with other categories of MNO projects.

  • Ambassador recruitment in the third quarter of 2019

Based on the proposal of many community members and through the discussion of the Council, we have updated NIP4_NULS Rules for Ambassador Election and Participation. The tenure of ambassador members in the second quarter will end on 30 June. Thank you for your participation and dedication. We hope that more community members who contribute to the development of the NULS community will join the ambassadors' election in the third quarter.

  • Collection of NULS Community Contributors in the Second Quarter of 2019

As a traditional activity of NULS Community, the quarterly contributors’ selection has been launched. We’d like to extend our gratitude to every community member who has made contributions to NULS.

  • On 21st June 2019, BEPAL wallet cooperated with NULS community giving AMA live broadcast to interpret NULS node staking.

BEPAL and NULS jointly organized a community-oriented AMA interaction to illustrate node staking, including the advantages of NULS node staking and the primary reasons why BEPAL was optimistic about NULS. BEPAL’s reasons for choosing NULS were clearly analyzed, followed by a Q&A with prizes.

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  • A new website for the NULS project.

We are pleased to share with you that after several months of planning, researching and developing, we have officially launched the new website. We have comprehensively upgraded the visual system of the whole website and confirmed the brand-new visual style with “NULS Green” as the theme color. In addition, we have arranged and optimized the content structure of the new official website in a more careful manner, thus enabling viewers to easily get the relevant information of the project they are concerned about.

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  • NULS was invited to attend the 2nd Global Graphene Blockchain Developer Conference

From July 6 to 7, 2019, NULS will be invited to participate in 2019 2nd Global Graphene Blockchain Developer Conference sponsored by Graphene Block Chain Application Center. Reaper, co-founder of NULS, will attend the conference and share the achievements and progress of NULS in the field of chain-building and cross-chain.

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  • The NULS community continues to vote on the proposal to fix the NULS maximum supply at 210 Million.

NULS’s economic model initially issues a total of 100 million, and less than 5 million block awards will be generated in a fixed manner and on an annual basis as incentives for network maintenance nodes and staking participation. Berzeck, a member of NULS CCC member & NULS Council, initiated the proposal of diminishing block incentives, which will reduce the block inflation incentives to 0 in 2104. By then, the POS mining of NULS will complete the output in 2104, reaching NULS’s maximum total cap of 210 million tokens. The vote on the proposal will end on July 10, and the current approval rate is 97.89%.

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3.Overseas Events and Media Reports

4.NIP & Proposal & Progress

5. Moments of NULS Community Council

  • After the discussion on the proposal of the maximum supply limit, it was finally decided to vote on the limit of 210 million based on the current status and restrictions, which is currently being voted on.
  • SiWei proposed that the period of contributor proposals should be changed from 7 days to 5 days for discussion and 5 days for voting, and that the period for non-contributor proposals should be changed from 15 days to 7 days for discussion and 7 days for voting. The proposal has been basically agreed by the Council, and it needs to be publicized to the Community before changes and adjustments are made.

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