Think of a scenario where all blockchains are connected, exchanging information and values with each other. But how would that happen if cryptocurrencies work on different platforms? Also, where does NULS come in with its solutions in this case?
How can that happen if cryptocurrencies work on different platforms? and how can NULS solutions break down these barriers?
Let’s see.
Cross-chain: exchanges between chains and their benefits
This technology aims to optimize the interoperability, or ‘communication’, between blockchains.
The fact is that blockchain networks work in isolation. The lack of communication between networks did do not fully allow users to benefit from this feature. This is where the cross-chain comes in.
Understanding that this technology makes it possible to share information without the need for third parties in the transaction brings more security to its users. Therefore, NULS was right to bet on developing solutions that addressed the cross-chain. We will discuss this next.
NULS understands that cross-chain technology makes it possible to share information without the need for third parties in the transaction, bringing more security to its users, deciding to develop solutions to leverage such features
Did you know that any project on the market can benefit from what NULS offers together with such technology?
NerveNetwork and NULS: the perfect marriage
NerveNetwork is an excellent solution for cross-chain technology.
Nerve is a decentralized network of digital asset services. Its blockchain protocol design is based on NULS microservices and developed with ChainBox, also from NULS. It aims to establish a cross-chain network for interacting assets and provide all the necessary support for the Defi application ecosystem. Nerve enables all digital asset holders to enjoy secure, free, and transparent DeFi application services.
And the advantages don’t stop there. Are you wondering why other projects adopt the use of NerveNetwork? Here are some key points:
- Initially, assets were restricted to one blockchain and could only be transferred within that blockchain. Blockchain assets were in a closed loop! Now, assets can move from blockchain to any other blockchain (providing the cross-chain details are correctly configured).
- The core function of NerveNetwork is cross-chain bridging and swapping. When required NerveNetwork uses the corresponding NULS smart contract to complete the cross-chain task.
- Both NULS and Nerve have the same microservices architecture. The architecture supports multiple languages and accommodates non-disruptive updates, scaling services (and servers) for scalability, targeted development and testing (reducing development time), and third-party development.
- Based on NULS microservices design, Nerve completed the technological development and implementation of homogeneous cross-chain and ETH heterogeneous cross-chain asset contracts while other projects were still under development. Therefore, Nerve is proud to boast a leading position in technical progress.
Now, you, our reader, hopefully, have a better understanding of the cross-chain features offered by NerveNetwork. There is another fantastic solution offered by NULS’ partner Nabox.
Nabox: a true DeFi Cross-Chain wallet
Nabox was created in 2018 to be a NULS ecosystem wallet whose initial purpose was to send and receive NULS tokens.
However, NULS released NerveNetwork, which now forms the basis of Nabox’s cross-chain functions.
As the term ‘DeFi’ became more and more popular, the NULS vision became more evident. Sensing the market demand for a cross-chain wallet, the NULS core team decided to spin off Nabox as an independent project.
It is worth highlighting some competitive advantages such as:
● One-click for easy switching between different chains.
● Works with ‘Wallet Connect’ (an open-source protocol for connecting decentralized applications, DApps, to mobile wallets) and with many DApps.
Nabox provides users with a safe and efficient experience as a cross-chain wallet. Nabox strives to achieve compatibility with most existing DApps across multiple chains, enabling seamless transfers and exchanges.
Still, regarding the product architecture and what advantages other projects can see in Nabox, we can mention its layers:
● Network layer: A compilation of the largest number of DApps across multiple chains, including Ethereum, BSC, Polygon, HECO, OKC, Tron, Avalanche, Harmony, KCC, Cronos, Arbitrum, Fantom, NULS and Nerve, and more to come.
● Contract layer: Nabox connects to several public chains, creating an applicable address for each one. With the account private key that the owner has provided, Nabox enables the internal transfer (from the source to the destination blockchain) by issuing the appropriate cross-chain request to Nerve, which does the cross-chain work.
● Application layer: Consists of three main well-used modules: cross-chain transfer, cross-chain swap (or ‘swap’), and DApp plugin.
Conclusion
NerveNetwork and Nabox are excellent cross-chain tools for those who may not yet be taking full advantage of cross-chain technology.
With NerveNetwork and Nabox, the NULS ecosystem provides numerous solutions to utilize cross-chain resources and create new and exciting DeFi opportunities.
Is that you? Are you making full use of everything that NULS provides?