Ana Sullivan

Nuls Token Boosted to $5.28 — Is this a Sign of Real Growth

by Ana Sullivan May 15, 2018

 

The Nuls token has recently been spotted to exponentially grow its value to $5.28. This may be indication of growth midst the rising competition in the blockchain industry. This articles looks at NULS's performance and prospective status.

NULS Overview

The main idea behind NULS is to create a universal blockchain that can be made compatible with various services. It includes several outstanding features such as Multi-chain — a mechanism that allows side chains to be created and connected to the main blockchain.

The associated smart contracts are the basic building blocks that NULS holders can use to perform actions on the platform. The consensus mechanism is Proof-of-Credit which is the type of method that the developers have chosen. NULS is based on a modular platform that allows it to be extended with other components. As such NULS can be adopted in a public or private platform.

NULS Market Performance and Predictions

At the moment there is an active interest in the community to make it more popular among cryptocurrency investors. It appears that the main selling point of NULS is the flexibility of the technology to be used in both a public and private setting. One of the premises behind its idea is that it can become an effective replacement for Ethereum or other projects that have already been adopted by major services.

Right now one of the major problems associated with it is the lack of an active community. This is causing a serious lack of adopters which seriously limits its growth potential. The market analysis reveals that so far only when major announcements are made thus revealing that a classic pump and dump scheme. This means that investors buy large amounts of the token for short periods of time and then sell them off in exchanges. This creates artificial transactions that are not actual examples of the real trade offers.

When the main network is complete it has been proposed that the first service that will make use of it will be Inchain which is made by the same development team. This was a project that the team was working on prior to NULS's creation and represents a decentralized insurance platform. The code was based on Ethereum's smart contracts. This will be changed to be made compatible with Nuls.

The recent value increase is attributed to another pump and dump scheme as there are no signs that would constitute a legitimate reason for a price increase. So far the development team has not been able to negotiate a partnership with a major company or Internet service. At this point there are no reasons to believe that NULS can practically compete with more complete solutions like Ethereum.

 

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