NULS Smart Contracts on Main-Net v1.1.0 Set for September 28 Release


Smart Contracts Integrated in the NUL v1.1.0 Mainnet Set for Release on 28th September

NUL is set to release the v1.1.0 mainnet for its blockchain network on 28th September 2018. The advanced infrastructure used to design this network enables the functionality of small transactions, multi-currency transactions & multi-account transferring of funds. Above all is the smart contract tech which will also be part of this launch!

The platforms integration with the smart contracts plays an important role in advancing the services offered by NULS blockchain. This tech will help developers leverage the NULS blockchain platform to build Decentralized applications. It joins the likes of Ethereum & EOS which are also popular for their smart contract blockchain design.

These smart contracts built within NULS network are UTXO compatible & their implementation is Java Virtual Machine oriented. In addition, NULS has built its own modules to complete the Virtual Machine function within its network.

With the new NULS smart contract ecosystem, an interpreter in the network has been integrated for JVM support. This simply means that interested developers can use their preferred coding languages to build on the NULS blockchain. As it stands, the team has opted for isolating its smart contracts operations for security guarantee.

The NULS v1.1.0 Functional Updates

  • Mainnet Configuration Update

The new NULS version will have its mainnet protocol upgraded to a better and more efficient one. Therefore, the team will issue a fresh configuration file detailing; the invalidated protocol types, the new transaction types, the transaction types used in the upgraded version, the number of delayed blocks before upgrading protocol with the required coverage, the coverage required for the upgraded consensus nodes & the version number corresponding to each protocol.

However, the mainnet will only go live if it meets the requirements for an upgrade. Once this is a success & comes into effect, wallets will be updated while the old ones will cease block synchronization.

  • Small Transactions

This new wallet has a feature that facilitates exchanging of small amounts; several UTXO values with an upper limit can be exchanged within this new ecosystem in one trade.

It is noteworthy that transactions are only possible if the nunmber of UTXO values exceed 20. Consequently, several UTXO values are combined & broadcasted at one at a time. Users can follow the broadcasted transaction via a list showing the transactions.

  • Script supported by UTXO

The soon to be released NULS version 1.1.0 enables participants assembling of their operations using an output script.

  • Multi-account transfer

It allows transactions to use multiple UTXO addresses for transfer, and each of the addresses will be signed.

  • Multiple signatures

It allows N different addresses to jointly generate an M-N multi-signal address, which can accept UTXO top-up, and the M addresses need to be signed when withdrawing.

  • Additional prompts

When you initiate transactions, including transferring, establishing/ending a node, staking/unstaking, etc., if the amount of UTXO exceeds the upper limit, the page will immediately have a corresponding prompt.

  • Query function

You can query the NULS asset information of all on-chain account addresses through the wallet.

NULS Mainnet & the Smart Contract Tech

The wallet supports smart contracts, which can deploy, invoke and delete contracts, view the details and execution results of the contracts, etc. In addition, you can collect contracts that are not created by yourself.

The explorer v1.1.0 will support smart contracts, showing the creator address, transaction hash, balance, related transaction number, transaction list, contract methods and contract event lists.

Furthermore, developers can deploy, invoke, delete contracts, view contract results and generate NULS smart contract projects, etc.

Challenges Solved With v1.1.0

  • Optimization of network message protocol

The new version optimizes network message and reduces the number of bytes transmitted in the network.

  • Paging

The paging bug of occasional malfunction on transaction list page was fixed.

  • Default address display

Fixes the bug that the default address display is inconsistent when switching menu

  • Transaction note now supports Chinese

Fixes the bug that transaction note did not support Chinese markets.

  • Optimization of NULS error prompt

The error prompt has been optimized for some of the wallet function, making it more accurate.

Parting Shot

In order to operate in a secure and stable environment, the NULS main-net v1.1.0 will switch to the new protocol after the percentage of consensus nodes with upgraded wallets reaches 90% and the height of the main-net increases another 30,000 blocks. Then, the main-net can broadcast new transaction types (multi-account transfers, multi-signal transactions, and smart contracts), etc.

It is also a mandatory upgrade this time. After the NULS main-net is upgraded successfully, if there are still nodes which haven’t adopted the new protocol, they won’t be able to synchronize and get new blocks. All users will have to upgrade, and please download the new version and upgrade in time for the safety of your assets.

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