NuGenesis is a decentralized blockchain that uses Artificial Intelligence (AI) to power its operations. The blockchain was first built to cater to government & transnational corporate applications.
By developing a blockchain that can support CBDCs (Central Bank Digital Currencies), the developers had to eliminate scaling & speed issues, latency problems, and overreliance on human validators and miners.
Also, they had to target increased security, and that’s what NuGenesis has achieved using Artificial Intelligence.
According to the team, NuGenesis is a cross-chain blockchain that doesn’t require gas to operate. It supports both social and commercial applications and has the capacity to cushion the upcoming wave of global adoption.
NuGenesis not only facilitates cross-chain interoperability, but it is also cost-effective and easy to use. It allows developers to customize unique versions that can run side by side with its main network. Also, developers can rely on NuGenesis to enhance smart contracts, virtual reality, and NFTs innovation.
What Problems Does NuGenesis Solve?
NuGenesis ensures blockchain interoperability. The network focuses on enhancing user experience by providing them the value they need from blockchain technologies.
In addition, NuGenesis facilitates increased coordination amongst existing blockchains, thereby promoting stability, confidence, security, and scalability.
According to the team, the network removes the inefficiencies in the systems due to over-reliance on human validators. Also, it eliminates inefficiency and the excesses that characterize resource utilization in other networks.
Finally, NuGenesis aims to increase and facilitate mass adoption by eliminating carbon emissions.
According to the whitepaper, NuGenesis provides the following to developers;
- Advanced technology
The total tech that makes up the NuGenesis blockchain network includes;
- The main blockchain is based on “Substrate.”
- Its exchange is known as the “Ledger X chain”
- The Bitcoin Chain
- An Ethereum Chain
With these core technologies, the network achieves speed and scalability by removing the bottleneck limiting data flow. In addition, the network uses consensus and implements load balancers that have their blockchain in order to increase block data, creation & speed.
- An Advanced Ecosystem
NuGenesis focuses more on improving user experience. As a result, it is providing liquidity by integrating a fully functional open-market exchange with decentralized stores. Also, it has developed relationships with many countries to implement a “blockchain code” that will ensure legal certainty, disclosure standards, and better governance, thereby facilitating growth in the crypto sector.
- Advanced Governance, Community & Tokenomics
NuGenesis doesn’t require transaction fees. It allows the users access to every information they need through a social media platform. Through this means, different projects and users collaborate and interact.
Also, the blockchain has no large volume of pre-minted or pre-created coins in the hands of its founders. Instead, it has a native currency, “NuCoin,” which is minted based on governance protocol, rewarding contributions that users make to improve the ecosystem further.
- Advanced Philosophy & Design Principles
The blockchain is all about self-funding and self-governance. It also focuses on instant transaction speeds and interoperability with other blockchains. Also, NuGenesis is built to enhance user experience to the extent of recovering lost mnemonics or wallets, stolen cryptocurrency assets, share custody, etc.
The blockchain aims to be user-friendly to encourage mass adoption. It aims to achieve this by eliminating the hindrances that people believe exist in the industry. NuGenesis also aims to increase confidence, security, and comfort that will make blockchain commonplace for more people.
The Benefits that Nugeneis Provides
- NuGenesis provides new frontiers where developers can easily create crypto assets that go beyond tokens to virtual reality.
- The blockchain provides a better and enhanced interoperable experience between blockchain assets & decentralized applications (dApps).
- It offers a decentralized & safer exchange where users can invest in fiat and crypto.
- The blockchain enables developers to build assets for both commercial and personal uses with confidence. It also provides multi-sig wallets plus other conditions that can allow users to mortgage new & existing crypto assets in a real decentralized finance market. By using the network, users who lost their wallets or mnemonics and assets can get it back.
- The network also ensures legal & commercial certainty about the status of crypto assets, gives users access to arbitration justice, maintains identity integrity, and upholds duties & standards of its conduct & disclosure.
- The platform further aims to facilitate offline payments through hardware wallet by 2022.
- It resolves liquidity issues for chains that don’t have enough tokens and funds to conclude certain projects.
- Users get to trade without the interference of initmidiaries, fully decentralized as well payments for new coins.
- Launching and issuance of new tokens for relatively new projects.
The NuGenesis team
The brains behind the continual operations of the network include:
- Chief Executive Officer, Hussein Faraj
- The Chief Technology Officer, Luay Mohsen, and,
- Muzammil Abbas, Chief Operating Officer.
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