What is NULS POCM?
What is NULS POCM? NULS platform empowers you to employ advanced technologies and develop that market-leading product.
NULS modular microservice design accelerates blockchain building. Use ChainFactory to get your chain running fast and reduce development costs. Then find Smart Contracts and Cross-chain technologies expanding your horizons.
With NULS, you get a company that sets a new industry standard in facilitating blockchain adoption. Its battle-tested platform provides the perfect foundation to build your application.
Make sure your innovative blockchain application stands out from your competition, even in the stormiest of market conditions. Based on microservices, the NULS platform is easier and faster to develop apps. It also means it’s easier to find issues or bugs as you debug code, and it’s easier to maintain.
WHAT IS NULS Proof of Credit Mining (POCM)?
The SCO platform allows NULS-based projects to issue and distribute tokens safely to NULS holders using the POCM (Proof of Credit Mining) smart-contract blockchains.
Stake into a project’s nodes and earn their token as a reward, while the project earns NULS as a reward. Projects can use the NULS consensus rewards to bootstrap and help fund development. Unlike IEOs and ICOs, stakers never risk their principal, and NULS never leave their wallet. Earn project tokens without risk while your device is off!
FOR STAKERS
Stake your NULS with the project you like and start earning project tokens now. Your NULS tokens never leave your wallet, and you can turn your PC off while you earn.
FOR PROJECTS
Use the SCO Platform, to bring NULS stakers to your project and earn continuous NULS consensus rewards for project development while sharing in the NULS economy and ecology.
POCM TUTORIAL
The SCO platform allows projects to use smart-contract-based POCM (Proof of Credit Mining) to create an SCO (Staked Coin Output) node. NULS holders can stake into the projects’ SCO nodes and receive the newly-generated project tokens, instead of their usual NULS staking rewards.
The SCO project node continuously earns the NULS staking rewards that would otherwise be rewarded to the NULS stakers, and projects can use the rewards to bootstrap and help fund development. The SCO platform and POCM allow this same functionality to be use with any public chain or assets in any blockchain ecosystem.
POCM is a decentralized product based on smart contracts. Users (especially project issuers) can familiarize themselves with the operational process in the test environment, avoiding misuse and causing asset losses.
Participate POCM
- On the POCM platform, click the [Select Item] menu, enter the page and select the approved item, and click to enter the item details page.
- On the project details page, enter the number of NULS you want to stake. Click [Participate POCM]
RECEIVING REWARDS
The contract will be awarded once every 5 blocks. After the reward is issued, the user needs to click the [Receive reward] on the right side of the [User Center] page. After the successful receiving, the contract will transfer the rewards to the participating address in real-time. The lockout time is over, the Token can be used (the specific unlock time can be viewed in Project details).
Receiving a reward is an operation that calls a contract, so you need to consume a small amount of NULS.
Add Rewards
The user can continue to participate in the POCM of a certain item in the project details, or add it via the [ Add ] button on the right side of the participating item list on the [User Center] page.
Project team
You can use POCM (SCO distribution platform) to attract NULS community members as the first group of supporters, continue to obtain NULS consensus reward as the project development fund, and get full empowerment of the NULS community and ecology.
Submit Basic Information
- Click the [Select Project] menu on the POCM platform, enter the page, click the [Issue Project] button and fill in the basic information and submit.
Issued Token
Click the [Issue Token] menu on the POCM platform and click on the NRC-20 token issued by yourself in the form to fill in the entry information (please pay attention to re-fill the token name and symbol completely and accurately, and need to be the same as the previous step) Token information is consistent).
Issue POCM contract
After the basic information is submitted, the project team needs to send an email to the email address: [email protected].
The content of the email is as follows:
- Project name
- Provide an account address (please keep the private key of the address by yourself) for the subsequent release of POCM contracts.
After receiving confirmation from NULS that their project has been approved, users can import their POCM account to the POCM platform and enter the [user center] page to issue POCM contracts.
ABOUT NULS
NULS is a blockchain infrastructure for customizable services, driven by its global open-source community.
