This column is part of a weekly series from cryptocurrency expert George Tung. To read more of his work, head here.

CEO David Gobaud recently announced his new company Mobius Network is moving away from Ethereum to a competing blockchain. He isn’t the only one. Just last month, the mobile messaging company Kik said it too was moving its Kin project away from Ethereum. According to the team, Ethereum was only able to handle about 10,000 users, which was not enough to handle the millions it anticipates will be using Kin in the near future.

So does this mean Ethereum is doomed? Is Ethereum going the way of AOL or Myspace, as Gobaud suggested? Maybe, but we are not quite there yet.

The Ethereum team is definitely scrambling to fix things before it loses the lead. It is looking at “on-chain” scaling solutions such as Plasma, which will require more hard forks if implemented. There are also “off-chain” scaling solutions it can embrace such as Raiden Network, which will offload transactions from the blockchain. Many ERC-20 based token companies are looking at this solution right now.

NULS And “Generation 3” Coins

Just like how new enterprise clients are not waiting for Ethereum to fix their issues, nor are the competitors. We now have a whole new generation of blockchains being developed that promise to fix what Ethereum struggles with. They are considered “generation 3” enterprise platform coins.

Generation 3 coins primarily focus on two main things. The first is super-high throughput, which allows thousands to millions of transactions to be conducted per second. The second is interoperability between blockchains. Since there are more and more blockchains being released in the cryptocurrency space, generation 3 platforms are built so that all these blockchains can talk to each other and become a bigger ecosystem.

NULS is a new company out of China currently developing a new generation 3 platform. The cryptocurrency’s jumped to a high of $8.50 a couple of weeks ago — and we’ll get to why that’s important in a bit.

NULS is taking a modular approach with its blockchain, meaning everything is treated like it’s a module. This includes its smart contracts, ledger, storage, network, accounts, consensus and processor. The reason for this is that any of the modules within the blockchain can be removed and upgraded without taking the whole thing down. That means hard forks are a thing of the past.

Why NULS’s Modular Approach Is Significant

The modular approach also helps with transactions and interoperability. NULS is built to handle sidechains, which are separate blockchains that share resources with the main blockchain. With this kind of setup, many of the operational transactions with messaging, voting, payments and accounting are offloaded and therefore not clogging up the main blockchain.

Extending on the benefit of being modular, NULS built the platform to work with many different kinds of consensus mechanisms. That means sidechains or other blockchains that might be utilizing POS, POW, DPOS, and POC can all talk to each other and with NULS.

NULS has already announced its first client is InChain. InChain, which occupies the anti-counterfeit space and has some ties to the Chinese government, will be occupying their own sidechain that will utilize the NULS blockchain.

That is only the beginning. I spoke with the English community manager from NULS and he said the interest in NULS is high and there might be more partnerships announced soon.

NULS’ Price Potential

I think NULS is one of the most undervalued coins within the cryptocurrency space right now. Currently, NULS is priced $4.60 with an overall market cap around $110 Million. The decrease from its highs are from the correction the whole market experienced the last few weeks.

Take a look at NULS in comparison with some of its competitors:

  • Cardano: $17 Billion
  • EOS: $9 Billion
  • ICON: $3 Billion
  • Ardor: $1 Billion

Based on the current price and market cap position, NULS is 10 times cheaper than its nearest competitor — and 100 times less than Cardano or EOS. That alone makes me extremely excited about the potential.

NULS’ main platform launch is coming in March, and that is much further along than some of the other generation 3 platforms. From a technology perspective, the modular approach of upgrades and the unique consensus mechanism that allows it to communicate with basically any blockchain really gives NULS a leg up.

Getting in with NULS at these levels is the same as getting in Ethereum, Ripple, NEO a year ago when they were dirt cheap. I see NULS with moonshot potential which means it can grow 10 to 20 times in the near future. With adoption, NULS has 100 times potential in the long term.

George Tung is a die-hard Bitcoin & Cryptocurrency evangelist, mentor and day trader. He runs  CryptosRUs.com  and runs a channel on  YouTube  dedicated at educating people about cryptocurrency. This article reflects the opinions of the author and is not intended to be financial counsel.

This article reflects the opinions of the author and is not intended to be financial counsel.

ethereum Getting in with NULS at these levels is the same as getting in Ethereum, Ripple, NEO a year ago when they were dirt cheap, says columnist George Tung. Photo: Pixabay