Thousands of cryptocurrencies exist on the market today. Over time, that figure will only increase as more developers try their hand at something different. In the race for anonymity and privacy, competition has heated up significantly these past few years. NulleX tries to position itself as a potential contender by focusing on data privacy.
The NulleX Vision
Every cryptocurrency or digital asset needs to create a clear and concise business model. In the case of NulleX, that focus lies on technology solutions and innovations pertaining to data privacy. It has become increasingly apparent there is nearly no such thing as keeping data private these days, unless for potentially nefarious reasons. NulleX aims to change the data landscape once and for all by combining powerful technological and cryptographic solutions.
Peeking Under the Hood
Three main layers make up the NulleX ecosystem as users and enthusiasts know it today. First of all, there is the Null blockchain. This stack serves as a secure and decentralized ledger where users can store finances and usage data. This blockchain uses the native Null Protocol to encrypt all data. As such, data owners can access the information and have it verified by the network, yet every other network user will not be aware of the specific contents. An extra benefit of the Null blockchain is how it leaves no auditable trace when transacting over it.
The second layer of NulleX goes by the name of Null Array. It is a network compared of Null Array Verifier Nodes. The main purpose of these nodes is to improve overall network decentralization and providing unique services. Extra features provided include the NulleX supply maintenance, enforcing governance rules, introducing fast transaction speeds, and so forth. To provide these functions, NulleX users can set up these NAV nodes and be compensated for doing so in the process.
No cryptocurrency or asset would be complete without having applications built on top of it. NulleX is no exception in this regard. These applications are known as nApps, all of which leverage the Null Protocol to manage permissions and relay usage data in an anonymous manner. All of these applications will benefit from the native anonymity and privacy guaranteed by the Null Protocol at all times. This will undoubtedly lead to some interesting developments over the coming months and years.
The Masternodes are Crucial
Similar to most other privacy-oriented altcoins, NulleX provides users with the option to set up a masternode. These are the NAV nodes mentioned earlier. Users will need to lock up 50,000 NLX to effectively set up a node, yet they will earn coins for providing valuable services to the network. It is expected the chance to receive masternode rewards will be adjusted in a positive manner once the DMRS feature is introduced to the network.
What Lies Ahead for NulleX?
Every cryptocurrency needs to keep evolving as frequently as possible. In the case of NulleX, there are some interesting developments on the horizon. The Null Protocol is in the process of receiving its mainnet release, which is expected to happen in the not-so-distant future. The team also focuses on mobile and hardware wallet support, as well as building a native merchant payment gateway. Combined with the upcoming introduction of DMRS, the future looks bright for NulleX.
Disclaimer: All information provided in this article is for educational and entertainment purposes only. MNMMG Does not offer investment advice and is not responsible for any financial losses sustained by its readers.