Cross-blockchain layer-2 network Aleph.im is gearing up to update staked coin output (SCO) — a new staking service, in partnership with enterprise-grade blockchain platform NULS.
The soon to launched solution will technically utilize a new reward model to allow Aleph.im community members who stake their tokens to earn other tokens after participating in several ventures on the NULS network.
An earlier press release from NULS stated:
“When a staker delegates their node into a consensus node for an SCO project, such as Aleph, they can earn the alternative (Aleph) token instead of the NULS token as their consensus reward.”
Additionally, holders of NULS tokens can select how they prefer to collect rewards earned for contributing to the blockchain consensus as validation nodes.
The two blockchain enterprises have been engaged in extensive testing of the new SCO staking service. During the trial that took place last year, Aleph supposedly secured over 2.1M in staked NULS tokens, at a valuation of approximately $1.25M.
How Will this Collaboration Work?
NULS has grown to be one of the most adaptive and customizable blockchain solutions in the world. The network symbolizes a rising demand for modular blockchain solutions that fit in with both corporate and retail requirements.
By working with Aleph, the NULS startup plans to offer solutions to current issues plaguing decentralized apps by offering fast single cross-technologies and cross-chain solutions on a decentralized and reliable ecosystem.
Currently, decentralized applications are generally unreliable and slow or tied to single blockchain architecture. Moreover, the large majority of current blockchain-related technologies cannot scale to the levels needed for large applications we use every day, such as social networks and web apps.
NULS intends to build a cross-chain asset interaction system and deliver all the essential fundamental support for the dApp ecosystem.
The collaboration with Aleph’s Proof-of-Stake public blockchain with private smart-contracts will help NULS reach the mass adoption of Distributed Ledger Technology (DLT).
Aleph.im to Benefit from NULS Democratized Staking
The NULS network operates with a democratized staking system that applies aspects of delegated proof-of-stake with an innovative credit rating feature.
The imminent launch of the Aleph.im Mainnet will essentially allow community-run Aleph.im nodes built on NULS 2.0 and utilize a reward address and precise commission percentage provided by Aleph.im.
With a diverse cross-chain solution in development, the NULS network is well positioned to reinforce the next generation of blockchain collaboration, especially by working with Aleph.im.