NULS, an open-source, enterprise-grade, adaptive blockchain platform along with Aleph, a cross-blockchain layer-2 network has announced the successful testing of their new staking service, “staked coin output” (SCO). This news emerged on 13th August.
Reaper Ran, the NULS Co-founder, said about the new staking service –
“SCO can fast track top-tier projects and help spur innovation that the NULS community wants. It’s like sending your kid to college before having them jump into the ‘real world.’ The investor community isn’t risking anything because they are only sacrificing their staked rewards, not their principal. Developers that participate have near-zero overhead, and the NULS network effect means that successful SCO projects can approach the market with confidence.”
NULS further added that SCO can pave ways for projects to quickly recognize their demands and then, be open to a broader market. Turning away from traditional methods like ICOs and IEOs, this successful test run urges projects to opt for SCOs.
NULS enables token holders to determine how they want to receive their rewards. Token holders are not confined to benefits from only one project, but can now benefit from other projects on the NULS platform, the blog post added.
NULS stated that this service is not parallel to an ICO or IEO, but is a mere enhancement to the decentralized financing system. Projects can earn while contributing to the network. Investors are not required to give up possession of their funds, thereby making it the only system that offers such features in the blockchain community.
With the introduction of NULS 2.0 beta just last month, that aimed to enhance their already existing blockchain feature, NULS looks to be moving in the same direction of bettering blockchain solution. While 2.0 aimed to help developers quickly deploy and populate ledger, transaction and account information in the NULS network, SCO looks to enhance the funding and investing aspects that reside on the blockchain.
NULS informed that Aleph had staked more than 2 million units in its tokens in a span of 24 hours, compelling NULS to add four nodes to host these tokens. With 2.1 million nodes staked into the Aleph nodes, their current valuation is around 1.25 million U.S. dollars.