Michael Burgess
Sep 4, 2018 · 5 min read

Comparative Analysis of Nuls Vs Eth

If you enjoyed this article — Please feel free to support me by staking in my node nuls_enterprise

Introduction

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.

Ethereum

Ethereum is a decentralized blockchain platform that facilitates smart contracts (self executing programs) between two parties, and is a distributed computing/operating system. Developed as the evolution of the first blockchain iteration which centered on peer to peer transfer of data, Ethereum platform has its own blockchain network and a Turing complete software known as EVM (Ethereum virtual machine), on which any decentralized application (dApps) can be developed and operated on.

Team

Nuls

Co-founded 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.

Ethereum

Ethereum was born out of the idea proposed by a computer prodigy Vitalik Buterin, and was cofounded/developed by a team which included Vitalik Buterin, Gavin Wood, Joseph Lubin, Anthony Di Iorio, Charles Hoskinson, and Mihai Alisie. The non profit Ethereum foundation was later established as a Swiss company. Although many members from the original team have left to pursue their own projects, the team still attracts the best of minds due to its decentralized nature.

Partnerships

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.

Ethereum

Ethereum is regarded as the second biggest cryptocurrency (after bitcoin), and as the first and widely adopted blockchain platform. Thus, its partnerships extend across the world. However, due to its decentralized nature, it can’t be said to have an exclusive partnership ala Nuls.

Although Ethereum had founded the Ethereum Alliance foundation and had some of biggest companies in the world such as JP Morgan, BP, Microsoft, Intel, Credit Suisse sign on, the alliance in essence allows the Multinationals the option to make use of Ethereum network rather than forge a long term partnership. Ethereum open source right down to its foundations.

There’s also the fact that almost all ICOs and blockchain projects start off on the Ethereum network, before switching to their own blockchain network. So while they can’t be stated as partnerships, they still utilize the ETH network.

Price history

Nuls

Nuls did not have an 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.

Ethereum

The main currency to facilitate transactions in the Ethereum network is ether, and this was sold under a crowd-sale at an ICO during July 2014. The price of ether during ICO was 2000 ethers per 1 bitcoin (~$600–800). During the last year, Ethereum has hit a high of $1600 and is currently trading at $280.

Technology

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 JavaScript, 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.

Ethereum

Ethereum was designed to be a completely decentralized, censorship resistant, universal, blockchain platform. The EVM is a Turing complete program that runs on a distributed Ethereum network and facilitates functioning of smart contracts and decentralized applications.

Ethereum works on a proof of work model currently which involves miners verifying transactions in return for rewards of ether. This is supposed to be replaced by proof of stake model in the future.

The chief use case of Ethereum is the ability to create dapps/smart contracts with minimal technological know-how while being assured of an agile, immutable, and secure blockchain system. It uses the solidity programming language. Ethereum however focused on decentralization over scalability and struggles during times of high usage (for instance, cryptokitties).

Tokens

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.

Ethereum

Ether is base currency for the Ethereum network, or the gas used to power all transactions. Current circulating supply of ether is ~100 million tokens with no maximum cap on the supply although there have been talks on it becoming deflationary in future updates. The inflation rate is said to be ~0.5–2% and the block time is 15 seconds. Ether can be traded at almost every crypto exchange, from Coinbase to Binance to Kucoin. It is the base pair for all erc tokens. Ether can be stored in Ethereum based wallets, hardware wallets, MEW, etc.

Conclusion

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.

Ethereum

Ethereum with a market cap of over $23 billion is rightly considered the second biggest cryptocurrency. However, it faces a number of teething troubles with scalability being its biggest obstacle to survival. There have also been number of hacks, most significant being the DAO hack that resulted in forking of the ETH network. While competition burgeons in the form of various other blockchain projects which promise a lot more than just simple smart contracts, we advise you to be wary of making significant investment in Ethereum.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade