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A Comprehensive Review of the NuGenesis Network (Part 1 of 6)

A Comprehensive Review of the NuGenesis Network (Part 1 of 6)

The new player on the block, a blockchain that is taking the world of technology by storm.

Many people have heard of Polkadot, Cardano, Ripple, Ethereum, Solana and Matic. However, few are yet to learn about one of the oldest established blockchains and systems that has proven to be the leader of innovation.

A network of Blockchains that form a unique and powerful system of cross chaining. When first hearing about Nugenesis and Nucoin, the first impression, one gets, is, this can’t be real…. How can a system that delivered what Cardano promises, delivered what Ethereum is striving for and brings to the forefront the combined technology of Polkadot and Ripple not be listed on any Exchange?

Can we truly believe there is a system that has proven its value by building its technology before releasing its native coin? A fully fledged operational network of coexisting blockchains, concurrently running to form the most efficient, secured and reliable network. A system that not only has its main blockchains on mainnet, but also has close to gasless smart contract platforms. 

A system that goes leap years forward and has its own social media platform, Venture capital raising mechanisms. A directory service of blockchain developers, several launch pads and its own unique offline/online payment system, designed to operate the way VISA currently operates, by having offline and online payment machines known as “hard wallets”. 

Is this a fairy-tale, or has the team down under, really been able to deliver what the world has not. NuGenesis is led by a team, who have made it, there life’s goal to help advance the blockchain industry and have envisioned a future of the multiverse through embracing a combination of augmented and virtual reality implementations, where all payment systems and communications will be processed through blockchain.

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NuGenesis core design in its final form, sees a combination of 128 plus global blockchains, running concurrent on the Nugenesis network, each blockchain having a unique functionality.

The main chains combine the power of Substrate, Bitcoin, Ethereum, C++ and a unique fully decentralized exchange system. While the secondary systems include blockchains pegged to currencies, asset classes, trading systems and unique advance smart contract systems all running on virtual machines validators and simple nodes with a chain capability to dynamically add more nodes. Also, not to forget another amazing chain feature, forkless future chain upgrades. 

NuGenesis network and blockchains utilize a unique validation monitoring system, NAVIS (NuGenesis’ Artificial Validation Intelligence System) has been designed to continuously keep learning, ensuring the NuGenesis Network meets the strictest of validation and security, shifting the requirement from proof of stake or proof of work to proof of authority, while maintaining the user benefits of both, mass-adoption and enterprise solutions.

NuGenesis blockchains are permission based (currently) utilizing state of the art proof of Authority systems, while maintaining validation monitoring systems, through artificial intelligence. The blockchain finality speeds vary, subject to the use case of the blockchain. Given the ability to reach finality within 350ms for simple chains, such as coin creation and transactional chains, to 6 seconds for NFT and Smart contract chains.

NuGenesis layer one exchange chain, is able to alone transact at speeds of over 100,000 TPS. Utilizing a combination of match chains, processing chains and content chains.

NuGenesis development commenced in 2013. CTO Luay Mohsen a pioneer in cryptography graduating in 1992 with his first project being designed to cypher floppy drives using assembly language is now leading the research and development and implementation division. The true designers and masterminds of the system, have remained anonymous while all founders have agreed to limit their profits and reward distribution.

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NuGenesis is currently proposing a load balancer system, which will see the current speeds of Nugenesis main chains reach unlimited transaction per second subject to data flow into the blocks. (Yet to be proven viable)

The team of NuGenesis has now expanded to over 126 employees, with 7 offices spanning the globe including Australia, Estonia, India, Pakistan and the UAE. The company also has several leading advisory and mentoring partners, not just from the digital space but also in the fields of Finance, Law and Business Development.

NuGenesis has recently signed a contract to develop the much-awaited Hollywood Multimedia Coin, also known as the Multimedia and Product Service or MPS Coin.

Several Nuchain slots have been issued on the NuGenesis network. To date NuGenesis has issued over $3,500,000 AUD grants.

NuGenesis’ NuChain slots provide 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 the scalability of the NuGenesis multichain network, is that each chain will share in and benefit from the network’s infrastructure, including but not limited to the LedgerX Exchange, launch pads, cross-chains, reduced hosting prices and networks.

Each NuChain can be customized to meet the demand of any user Requirements, bringing the vision of the client ideas to reality.

By being accepted into the NuGenesis network a client is given full access to the full spectrum of the platform’s resources.

NuChains are interchangeable and ready to amend blockchains built on the NuGenesis core design, allowing connection to the NuGenesis network but without the leasing costs or auctions. NuChains hold their sovereign security and consensus, therefore the only cost associated with a slot is the hosting and backend infrastructure.

Nugenesis treasury and subtreasury systems functions and have proven that royalties, staking, minting and system sustainability can all progress through layer 1 technology. While maintaining the ability for users to mine and stake without the pre requisites of GPU computing power, hashing rates or secondary staking. The core design sees the creation of a unique new way to mine and stake, that is by utilizing a USI solution to create a unique serial identifier with each coin minted which is later used to form the block hash.

As a proof concept the NuGenesis team developers are the creators of the Bitcoin Nuchain, which is a re formulated fork of bitcoin, reducing the complexity while increasing the transactional speeds through simple formulation changes.

NuGenesis is a minting system, which utilizes a minus 1 algorithm. Shifting away from the halving formulations. Nugenesis utilizes extremely precise minting formulation and burn rates, to see the perfect blend of tokenomics and reward distribution.

The review will be continued in the next article.

Currently the NuGenesis Main chain and NFT Smart chain (Smart Contract chain) are live on mainnet NUSCAN (nucoin.com.au).

Links to all new live chains can be found at Nucoin

A comprehensive list of articles can be found on NuGenesis (nugenesisou.com)

Follow NuGenesis on Facebook or Just social (NuGenesis’ Social media platform)

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Hollywood MPSC Platform Awarded First Nugenesis Nuchain Slot

Hollywood MPSC Platform Awarded First Nugenesis Nuchain Slot

NuGenesis Signs major contract to deliver on much discussed, Hollywood MPSC Platform (Multimedia and Product Service Coin).

Want to own an NFT that not only gives you royalties but also gives you bragging rights, giving you the opportunity to own a piece of your favorite movie scene with rights and conditions attached? Taking smart contracts to a completely new level, while simplifying the NFT procurement and ownership process?

Thanks to a partnership between NuGenesis and Iggy Kos. 

Soon, you might be able to.

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NFTs have become the new craze globally. Smart contracts and NFT’s have been gaining traction in Hollywood and the music industry. Bringing life to intellectual property ownership. Through NFTs and smart contracts, a perfect system of movie capital raising, Intellectual Property securement and royalty distribution is on the forefront. Unfortunately, due to the limitations of current smart contract deployment and NFT designs, major players have not yet tapped into the vast scalability of Intellectual Property ownership, royalty distribution and transfer, through blockchain technology.

With a $115 billion movie industry, it only makes sense that blockchain technology and advance smart contract protocols be the future of Royalties and intellectual property Ownership. Just picture your favorite scene from a movie, picture an NFT which gave you rights over that scene with lifetime royalties or bragging rights.

There has yet to be the perfect combination of technology and people. Until the combined Resources of Iggy Kos and the Team of NuGenesis agreed to utilize the NuGenesis Smart Chains and Digital Notarized Contracts, to efficiently build the words first intellectual ownership blockchain, utilizing NFT and Advance Smart Contract protocols to create close to gasless NFTs that have contractual conditions attached.

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The multimedia and product service coin will lead the industry in product placement, royalty allocation, scene ownership and all forms of NFT trading. With less than 6 months from its first prototype, The MPSC chain shows promising adaptation across the entire industry. With ambition of becoming one of the world’s largest NFT aggregators. Better still, its top priority is shaking up the movie industry, a sector that commands global revenues of more than $115 billion.

In a recent interview with CEO Hussein Faraj, when asked what made this project unique, he said:

“With only 5 initial NuChain grants and slots available, this project was strategically chosen due to its complexity, Not the complexity of scope of work, but in the technological requirements, to make it successful. 

To successfully make the merge of blockchain technology and smart contracts able to deliver the perfect Intellectual property rights system, combined with the ability to sell, trade, and transfer such rights, requires a much greater level of smart contracts. 

NuGenesis Digital Notarized contracts are perfect for such a use case. NuGenesis Smart Contract chain is currently deployed on mainnet and is fully operational. Combining the smart contract chain with the Digital Notarized chain will showcase the ability for blockchain technology, to successfully answer the calls of enterprise and intellectual property ownership.” 

The business case for movie NFTs

It’s a well-documented fact that 2020, and most of 2021 so far has been an exceedingly trying time for the entertainment industry. Plans to film new blockbusters have been hit hard by the coronavirus pandemic — and to make matters worse, many cinemas were forced to close their doors for many months because of lockdown restrictions.

NFTs are a way of enhancing fan engagement — enabling them to own a piece of a film’s history. Better still, this helps unlock new and much-needed revenue streams for content creators, product placers, film capital raising and intellectual property ownership. Stage one of the projects has already been built on the NuGenesis Smart Chain and is currently live on the mainnet. The marketplace is designed to be content friendly allowing everything from photos, scanned prints, digital images to video to 3D supported. Independent filmmakers will also be able to produce their own NFTs, and MOVE’s infrastructure at close to no cost to them. The NuGenesis Network is close to gasless and is also able to take direct fiat payments through PayPal. 

One thing that arguably has been holding nonfungible tokens back from mainstream adoption has been the fact that they’re non commercially functional. There current utilization of smart contracts and NFT’s are limited in their capacity. Smart contracts were not designed for such application. Unlike NuGenesis Notarized contracts. With the world oh physical, merging with the world of digital, Virtual Collectables have become as, if not more in demand, then physical. With the ability to deploy the NFT utilising NuGenesis NFT Display protocols, it means you can hand your NFT on your wall at home, at the office or in your safe. With contractual ownership safeguarded through blockchain technology.

NuGenesis Smart platforms are being upgraded to couple digital NFTs with physical items. CTO Luay Mohsen said:

“The aspect of asset digitalisation, is the core reason we designed, the digitalise notarised Contracts and tokens. It is also factored into our Nu Ledger hard wallet and digital display.”

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