NULS: A Community in Consensus, Collaboration & Competition
As AI technology develops, it is likely to continue to raise ethical concerns and test the boundaries of human intelligence. Blockchain could offer an open source, decentralized alternative solution to the threats and risks posed by AI — it is a technical means of creating a truly trustworthy business world. When NULS became part of this technological revolution, it espoused consensus, governance, competition and collaboration within the community. The purpose of this article is to inform community members and the world at large about the driving forces behind the establishment and growth of the NULS ecosystem.
In his book, The Wealth of Nations, Adam Smith writes “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest”. NULS was established with the idea of full community consensus so that all who participate can share in the benefits of the NULS ecosystem (see the explanation of the POC consensus mechanism in the white/yellow papers for details). The foundations of a blockchain ecosystem should not just be predicated on some outlandish slogan like ‘for the glory of humanity’; rather, it should be predicated on technological rules which bring about full participation and consensus. Using technology to ensure the implementation of these rules has been fundamental to NULS from the beginning. Full participation ensures the roots of the ecosystem run deep. The more participation, the more robust the ecosystem and the more likely it will be that there will be more possibilities for future evolution. Benefit and incentive sharing ensures fairness in the community where each community member can have his own interests at heart while feeling a sense of belonging to the NULS ecosystem. It is via these means that we can build a blockchain fit for the future. This project will never be just an empty phrase on a white paper.
Community Governance — Credit is King
The importance of credit in the blockchain world is self-evident. A good community needs a credit mechanism to assess the credit status of various components of the community. The credit mechanism discussed here is more about the basic elements of network operation. Members of the NULS community opposed the idea of manually adjusting the credit system. In response, we decided to use verifiable data, such as the hardware investment in each node and ability to run a node smoothly, as criteria for the credit score. (For details, please refer to the POC consensus mechanism in the white/yellow papers). In this way, we are using objective and pragmatic tools to reach consensus.
Competition in the community — personal interests as a driving force of growth in the ecosystem.
The NULS community understands that the pursuit of personal interests in human nature is twofold. Firstly, pursuing self-interest makes the economy prosperous — an idea that originated with Adam Smith. This means that the pursuit of personal interests is one of the driving forces for economic and social development. The other part of the pursuit of personal interests is selfishness. This refers specifically to the pursuit of personal interests without regard to rules. One of the compelling arguments for blockchain technology that it creates a system of rules which champions openness and trust while exposing the selfish actors. These rules cannot be overridden as they are constrained by technology. In this way, blockchain technology is built on a much more solid moral foundation than traditional economic systems. NULS encourages members of the community to satisfy their own self-interests as this will produce healthy competition within the ecosystem. Sustainable development of the ecosystem requires competition within the rules. This will help stimulate the creation of new ideas and ensure that projects on the NULS blockchain and its sub-chains continuously improve.
In order for an ecosystem like NULS to continuously grow, a large number of human and material resources are required. In order to achieve this, NULS will gather people from a wide variety of backgrounds. Seamless cooperation between people in the ecosystem is extremely important. A good analogy is to imagine the many complex parts of a car that can only carry out their functions once fully combined. An efficient ecosystem is dependent on effective cooperation between its various parts. Collaboration and competition are two sides of the same coin. One cannot exist without the other.
As mentioned above, it is only a matter of course that a collaborating community has to lead to growth. When players in the ecosystem come together and look at the emerging facts, the idea of what constitutes effective collaboration also changes. Michelangelo created his David, not by constructing it, but allowing his masterpiece to emerge and reveal its beauty from within the block of marble. Similarly, working parts that are ineffective in an ecosystem can be chipped away, to reveal the efficiency within.
The NULS community believes that a fair, self-governing and self-evolving ecosystem cannot be created by slogans. Ricardo and Bentham’s proposed economic concept “utility” says that “happiness is not easy to quantify.” In the blockchain era, the contributions of all members of the community can be quantified, and we believe that the rewards of continued happiness from players in the blockchain economy can also be quantified. The rules of consensus which make up the foundations of the ecosystem have the potential to build a future full of possibilities. Only through true consensus can members of the community participate fully in the construction of the ecosystem.
We have an opportunity here, in this new era of decentralization, and it is in our hands.
Will you join us?
NULS has a large dedicated community who are propelling this project forward, and we are continuing to call for more friends to join us. Let’s seize this rare opportunity together!