Nuls and Aleph Test New Staking Service, Introduce New Reward Model
Ana Alexandre's original article for cointelegraph.com reduced by 74%
Enterprise-grade blockchain platform Nuls and cross-blockchain layer-2 network Aleph have jointly completed testing of a new staking service dubbed staked coin output, which applies a new type of reward model. Per a press release published on Aug. 13, the new service allows community members to stake tokens to receive tokens from other projects building on the Nuls platform.
Those who own NULS tokens can choose how they want to receive rewards earned for participating in consensus as validation nodes. "Every NULS staker must hold 2,000 NULS because staking nodes validate blocks, while the NULS consensus nodes produce the blocks. When a staker delegates their node into a consensus node for an SCO project, such as Aleph, they can earn the alternative token instead of the NULS token as their consensus reward." During the trial, Aleph ostensibly secured over 2.1 million of staked NULS tokens, at a valuation of roughly $1.25 million.
In its latest rankings released in late July, the Chinese CCID Research Institute - an initiative of China's Ministry of Industry and Information Technology that provides a monthly assessment of cryptocurrency projects - put Nuls in fourth place. According to INDX, the top-10 projects were Pundi-X, IOStoken, Cosmos, Waves, Qtum, VeChain, Tron, NEM, Neo, and EOS. The tokens were ordered based on expected yield as predicted by INDX's proprietary algorithm.
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