Nuchains are the diverse individual layer-1 blockchains that run in parallel on the Nugenesis Network and are secured by its sovereign consensus and validator set.

The key to NuGenesis scalable multichain Network, NuChains share in and benefit from the network infrastructure including and not limited to the Ledgerx.exchange, launch pads, cross-chain, and reduced hosting prices. NuChains can also connect to external networks such as Bitcoin and Ethereum using cross-network bridges.

NuChains can be customized to meet the demand of any blockchain, NuChain can bring the idea of a developer to the forefront of production, without the need for the hiring of developers to build a chain.

Being Accepted into the NuGenesis Network gives you full access to unparallel resources. Unlike Polkadot Parachains which connect to the Relay Chain by leasing a parachain slot via parachain slot auctions, by being granted a slot by Polkadot governance as a common good chain, NuChains are complete ready to amend blockchains connected to the Nugenesis Network with no Leasing cost or Auctions.

NuChains hold their sovereign security and consensus and therefore the only cost associated with the Slot allocated project, is the service costs which include cloud services.

How many total NuChain slots will be available?

As NuGenesis does not have any computing constraints, there is no limit of slots. The Slots are only limited by the functional/meaningful projects. Unlike other Launch Pads, only projects that have substance or functionality behind them will be granted slots. NuGenesis Parallel Processing Network can handle an infinite number of chains, however, it will take some time to customise each slot blockchain, and they are likely to be added to the system slowly over time.

When will NuChain slots be available for applicants to register interest?

NuChain Slot Applications have already been opened since July 1st. Subject to the projects required infrastructure, the complete onboarding process would take as little as 12 weeks. This includes customising a core blockchain to be utilised by the slot applicant.

Does this mean approved projects can get a fully functional blockchain launched, which is owned by the Slot approved applicant?

Yes. For those projects, who have raised capital and have deliverables, we are able to supply them with their own customized chain, network infrastructure, and media grants to help with launching their project. Up to $250,000.00 of services can be approved and all costs waived subject to the project’s future functional capacity.

How does NuGenesis benefit from NuChains?

As the Nugenesis Network is financing, designing, building, or implementing the world’s most advanced blockchain ecosystems and technology, we require a stake of the project to be allocated to the entire NuGenesis Network, an airdrop that sees all Members of the NuGenesis network rewarding from the systems creation. A share of initial Tokens as well as an ongoing reward system distributed to every Member of the Nugenesis Network.

Can any blockchain join the NuGenesis Network, can we migrate our chain into the NuGenesis Ecosystem?

Nugenesis can cross chains with any crypto based asset ledger, if your project is an independent chain, you are able to cross chain with the NuGenesis Ecosystem. All Substrate build chains, c++ and Ethereum Based blockchains can cross chain to the NuGenesis Network.

Can NuGenesis Supply fully operational blockchains for projects that have launched tokens through Ethereum or Binance Smart Chain, if they have been approved for a NuChain slot?

Yes, once you have launched your Token Regardless of which network has been utilised, NuChain can be supplied with all functional pallets or infrastructure included to help the operator deliver the project’s scope of work. Meme Coins are currently not supported by the Nugenesis Network.

What are the benefits of becoming a NuChain on the NuGenesis network?

The NuGenesis ecosystem is the most conducive interface to welcome mainstream capital flow.  

We cater for mainstream expectations by providing:

1. New frontiers for the creation of crypto assets.
2. True interoperable experience agnostic as between blockchain assets and dApps.
3. Decentralised, and safer, fiat-crypto-crypto-fiat exchange through which to Launch a Coin/Token.
4. Serialised Digital assets, hack-proof confidence in building assets for personal and commercial use including multisig wallets and such conditions for mortgaging new and existing asset acquisitions in a modern real defi capital market.
5. Off-line payment systems and local remittance offices; (due to be completed by 2022)
6. legal and commercial certainty in the status of their crypto; identity integrity; duties and standards of conduct and disclosure and access to arbitration justice.  
7. Using better formulations and blockchain design to ensure speed, security, and user participation.
8. Separation of accounting and computational layers
9. Creation of a secure voting mechanism for participants
10. A consensus mechanism that is infinitely scalable and a validation process that is monitored by artificial Intelligence adding a secondary layer of security to avoid corruption. 
11. Green mining – NuGenesis chains can be mined within seconds and use close to 0 energy. 
12. Reward distribution and treasury systems to ensure survival of ecosystems. 
13. Parallel processing and cross chain capabilities 
14. Serialised token/coin and digital notarised tokens a new gasless version of NFT which have a small, fixed rate to execute. 
15. Digital Notarised contracts – (digital contracts, two party signed and executed by the notary pallet)
16. Digital notarised tokens – CBDC serialised traceable tokens. 
17. Mnemonic retrieval (limited) 
18. Offline payment through hard wallets (to be completed 2022)
19. Unlimited transactional speed through load balancers and parallel processing (tested in theory – first prototype to be complete by March 2022)
20. Instant remittance capability 
21. Instant CBDC capability 
22. Built with the latest and future foreseeable legislative requirements. 
23. Advance KYC/AML and monitoring protocols.
24. V2R launchpad – similar aspect to Binance smart chain not limited to only crypto related projects. 
25. Nugenesis has a framework for multi chain systems. (All open-source systems will eventually be redesigned and added to the ecosystem) At the moment supports bitcoin, Ethereum, substrate, all C++ chains)
26. Dual data retention for enterprise and multiple permission/authority systems (different levels of permission to see chains within the same Para network)
27. Chain transactional speeds of over 100,000 TPS (current) 
28. Block finality from as low as 350ms although optimal 1 second to 6 seconds subject to which parallel chain. I.e., coin creation to DNC chain. 
29. Blockchains that join the NuGenesis ecosystem are granted sovereign systems and run in parallel. 
30. No limitation to slots 
31. No auction for slots 
32. Community waver protocols – projects can be granted waivers of fees if the project is deemed to assist the growth of the blockchain industry.
33. Help issue and launch tokens for new projects 
34. Marketing support through justsocial.tech 
35. Social support through justsocial.tech
36. Resolve liquidity issues for chains that have run out of tokens and have insufficient funds to finish their project
37. Allows users to trade without intermediaries fully decentralised, allowing OTP payment for new coins (fiat to crypto and crypto to fiat) No need for swap sites.
38. 24/7 system support and blockchain development advice.
39. Grants for projects which improve the NuGenesis Network.
40. Close to Gasless operations. 

The post What are NuChains? appeared first on NullTX.