Nuls vs Eos — A comparative analysis
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Introduction
EOS
Proclaiming itself as the Ethereum Killer, EOS ran one of the biggest ICOs ever raising over a billion dollars in a year. EOS aims to bring in a level of scalability that would sound a death knell to a decentralized blockchain like Ethereum by facilitating million transactions per second. Its core aim is to build a user friendly, scalable blockchain network that can process applications as fast as a private network. It aims to achieve this by using a delegated proof of stake consensus.
NULS
Nuls is a universal blockchain architecture, offering smart contracts, multi-chain and cross-chain infrastructures, that are customizable depending on a particular enterprise’s requirements. In essence, Nuls uses its modular architecture to offer businesses a way to customize and create their own blockchain to suit their own company’s specific needs.
Team
EOS
EOS was founded by Brendan Blumer while Dan Latimer acts as the brains behind the project. There are more than 35 developers and specialists in the team. Dan worked with Satoshi Nakamoto during the initial bitcoin years and has tasted big success with the Steem.it and Bitshares projects.
Ian Grigg, inventor of the Ricardian contract, with 25 years experience in financial cryptography and previously part of R3 Corda blockchain consortium is also part of the team. Some developers from Dan’s Steemit and Bitshares project are also part of the tech team at EOS.
NULS
Cofounded by Lily Wang and Reaper Ran (Previously on Neo Community board), Nuls is based out of Chongqing China, and is an answer to the limitations of chain structures of traditional blockchain systems. Most of team have previously been part of the acclaimed Inchain project, allowing them to forge strong connections within the private sector, and the state government.
Partnerships
EOS
EOS does not have many large enterprise partnerships, given that its main net was launched only recently. Its partnered with dapps like Everipedia, Smoke.Io, Vertex studios, etc. Its biggest partnership till date is the one with Bitfinex.
NULS
Nuls has established the Chongqing blockchain alliance, and partnered with Bitshares, Elephant alliance (major Chinese ecommerce player) and the China Blockchain Industry Alliance. Not only this but NULS also recently partnered with the largest mining company in the blockchain space Bitmain as well as signing a deal with MC Payments which has links to Alipay.
NULS has also recently inked a series of partnerships with renowned companies to form a Food Chain Alliance, which include acclaimed Singapore based industry stalwarts such as Veritag, SAKAE Fintech, Y3 Technologies Pte Ltd, Reefic Protocol and Morpheus Lab.
Price history
EOS
EOS had conducted a year long ICO during which it raised more than $1 billion. The price of the EOS tokens have ranged from less than $0.5 to its high of $15. It is currently trading at $7.23.
NULS
Nuls did not have a traditional ICO, but was airdropped to all investors of the Inchain project. Price of the token hit its high of $8 in January and is currently trading at $1.9.
Technology
EOS
The platform is designed to be nifty and user friendly for all programmers, and there is no fee attached to usage of the network. EOS block time is 0.5secs and it processes 300,000 tx/s using graphene technology and multi-thread parallel processing. It uses a delegated proof of stake consensus mechanism, where token holders vote on who they wish to see as block holders.
EOS supports major programming languages such as C, C++, Rust, and solidity. The Web assembly language used can compile many languages. EOS turns its focus on layman users but caters to app developers. All its features are appropriate for fast development of scalable, user-friendly blockchain apps.
The core objective of EOS is to become a blockchain platform for large scale apps, and get people to migrate from the Ethereum platform. The team believes EOS network is strong enough to host apps as massive as Facebook/Twitter. While it allows for public chains, it has no facilities for different modules, side chains, interoperability, sub chains or cross chain consensus. It is simple, user friendly smart contract and dApps platform.
NULS
Nuls uses a modular architecture in its blockchain, which allows for easy customization and setting up of sub chains. Its uses a Proof of Credit consensus mechanism, which is similar to POS, where “staked tokens” called nodes are used for mining and validating transactions. There is also different node tiers, with masternodes offering varying dividends based on the commission and credit rating.
The main programming language used by Nuls is Java, with support for 3 additional languages. It has a 10 seconds block time and can process 2,000 tx/s, and millions through subchain.
Nuls offers modular blockchain, side chain mechanisms, smart contracts and cross chain mechanisms. But the most attractive feature of NULS is the ability to create subchain (public and private) within the NULS blockchain architecture that can be customized as per enterprise requirements.
Tokens
EOS
The market cap of EOS currently stands at $4.8 billion, and recently all erc-20 tokens were swapped to native EOS tokens upon launch of the main net. There are a total of 1 billion tokens, with 900 million in circulation. Although it must be stated that the top wallets which belong to the team hold more the 53% of the tokens. EOS tokens can be traded at major exchanges and stored in their native wallet where you can receive airdrops too.
Side note :- this statement is specified in EOS TnC.
“The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.”
NULS
Nuls has recently launched its own mainnet, and has swapped the majority of its erc-20 tokens for main net tokens. There are 100 million tokens in total with a circulation supply of 40 million tokens. Nuls can be traded at most major crypto exchanges with Binance and OKex leading trading volumes. Nuls tokens can be stored at their newly launched web wallet, available for both windows and Mac.
Conclusion
EOS
While EOS certainly sounds like one of the most exciting projects in blockchain, with its simplicity and high scalability that promises to speed up adoption, it does need to be stated that EOS has a lot of red flags, like the centralized nature, the never-ending ICO, token use-case, etc. However, it would not be surprising to see EOS take over Ethereum’s mantle and have a large scale dApp built onto it given its large funding and high scalability.
NULS
Nuls hopes to optimize current businesses by creating an easily programmable blockchain to implement private chains for companies. With a market cap of just 55 million, Nuls is uniquely positioned among all blockchain platforms with regards to its valuation. It has strong partnerships across public/private sectors and is poised to grow at an exponential rate in the coming months.