Real-world applications drive NULS usage.
One of the most important points to be considered in a Blockchain project is its usability. In this regard, NULS has been adopted in several segments.
There is no doubt that Blockchain is a technology that is here to stay. With several usage options, in the most varied niches, it has become more and more usual as time passes. We are bombarded almost daily with news related to its adoption and use, with some projects standing out for their implementations in this regard. Today, this is the case with NULS.
Food security certified with NULS Blockchain
As we have already discussed in another matter, some countries are facing problems with respect to the quality of their food. A well-known case is that of Singapore, where government officials have found that about 13% of their fruits and vegetables subjected to a quality test have failed.
This opens up opportunities for disruptive solutions to be tested and, consequently, implemented.
VeriTAG, in partnership with NULS, developed a solution that aims to deliver “end-to-end transparency, from food production to points of sale”. It acts as a Blockchain-enabled loyalty program.
One of the objectives here is to encourage consumers to check the origin of their products through scanning via app. Whether they confirm the traceability of Kobe Steaks or Salmon, they will earn a few tokens each time they do this — tokens that can be converted into NULS and, later, to the local currency in the country.
DEX, NFT tokens and Goblins
2020 is proving to be very friendly to decentralized exchanges or DEX’s. For those unfamiliar with the term, it is possible to trade directly with the ‘other side’, through direct negotiations between portfolios (without intermediaries).
An interesting example of such a platform is GoblinSwap. In addition to enabling these more direct transactions, it also relies on staking and using NFT tokens in its ecosystem. It is worth remembering that NFT (non-fungible) tokens are unique elements, such as items, characters, or the like. In the Goblinswap environment, NFTs are Goblins. These, in turn, are characters that have ‘levels’ — as if in a game — capable of increasing the rewards once they are in the liquidity pools.
By making NULS staking in the platform, many users have already won Goblins and are ‘striving’ to level up and have exclusive benefits from this model.
Noteworthy here is the advantage that the NULS network has compared to Ethereum, for example. Since the costs of transactions and the use of smart contracts are sometimes expensive with ETH, users can take advantage of very low fees to enjoy the ‘gameplay’ of this model within the NULS Blockchain.
Currently, it is only possible to exchange NULS for Goblins and vice versa, however, it is expected that the number of alternatives will increase quite soon.
Boost in transactions shows high adoption of NULS
With such success in different segments, it is natural that the number of transactions on the network will increase. However, what we saw in the past two weeks was an impressive jump of approximately 530%.
As more projects adopt NULS and their visibility is highlighted, we can expect that such an increase will only be the beginning of a great start.