The community behind the NULS token launched a whitepaper for the Network Nerve, which acts as a bridge for connections to other blockchains.
THE NULS, an adaptive and open-source blockchain, wants to break out of its isolation from the rest of the blockchain ecosystem and create bridges (or connections) to other networks – and perhaps, one day, between them. The first step is to connect NULS to Bitcoin and Ethereum through a new network called Nerve.
This view is described in a whitepaper that NULS Technical Community launched last Thursday. The whitepaper details the new network as a solution cross-chain to make NULS interoperable with Bitcoin, Ethereum and other networks.
What to expect from the new network?
The NULS network runs on a “system of staking democratic system ”that merges the DPOS system with a credit rating. The newly proposed network Nerve sits atop the NULS Protocol, allowing users to transfer major cryptocurrencies, including BTC, ETH and ERC20 tokens, to the NULS blockchain. The company expects the chain to compete with Cosmos and Polkadot, which are two other solutions cross-chain under development.
While the protocol does not connect Bitcoin and Ethereum in the same way that Ethereum founder Vitalik Buterin said earlier this week on his Twitter, Berzeck, a pseudonym of one of the NULS developers, said the network Nerve “Takes a step in that direction.”
We should put resources toward a proper (trustless, serverless, maximally Uniswap-like UX) ETH <-> Decentralized exchange BTC. It’s embarrassing that we still can’t easily move between the two largest crypto ecosystems trustlessly.
– vitalik.eth (@VitalikButerin) March 24, 2020
We should invest resources in implementing a decent and decentralized exchange between ETH and BTC. It is a shame that we are still unable to move easily and reliably between the two largest crypto ecosystems.
Berzeck adds: “The protocol does not directly link Bitcoin and Ethereum. Instead, it allows the NULS blockchain to connect to Bitcoin and Ethereum, respectively. ” However, he adds, “We could definitely explore ways to have NULS acting as an intermediary between these blockchains and transactions.”
To enable transactions cross-chain, Berzeck said the Network Nerve will use a native token called “NVT” to transfer values between networks. “Basically, the Network Nerve will operate as an autonomous virtual broker with masternodes able to handle blockchains and process your transactions, ”he said. “THE Nerve it will then conduct this function and add value to the NULS blockchain, ”making them effectively interoperable.
Advantages for developers
Berzeck noted that this could enable microtransactions with specific blockchains. “With the functionality cross-chain, developers won’t have to worry about maintaining a single network with limited scale, ”he says. “Instead, several competing blockchains will be able to run independently (one for games, one for supply chain, and so on …) and NULS will be able to act with a function trigger terminal to become more collaborative and autonomous.”
For now, however, with the network outlined, the NULS community is prepared to build an interconnected future for blockchains.