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Hi, I'm writing a short summary of NEM for a website that I own. Here it is: NEM is a cryptocurrency and blockchain platform launched on March 31, 2015. Inspired by an earlier cryptocurrency called Nxt, its features include a unique proof-of-importance algorithm, Eigentrust++ reputation system, multi-signature accounts, tokens, namespaces, and encrypted messaging. The cryptocurrency is especially popular in Asia where it is being tested by financial institutions and corporations. Its next major update (Catapult) is designed to increase stability and scalability – offering better network performance as well as enhanced features. Is this correct? Are there any errors I should know about? And does anyone know if Catapult has been released? I did a bit of googling around and there are some conflicting sources but from what I can tell, it seems that it has been released for testing on private chains but it has not yet been implemented on the main chain? Thanks in advance! I wouldn't bother mentioning NXT. The original idea was purely to be a clone with better distribution. That was abandoned and it became a new project. I would emphasize its capabilities of creating, integrating and mingling with private chains. That's one of the core ideas. Catapult as a private version has been released. The public version has stalled. There's new leadership and their priority is to make public Catapult happen. No idea when though. Ah, OK thanks for that info. I've been away from the crypto community for a while so I wasn't completely sure if it was still accurate or not.  |
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Hi, I'm writing a short summary of NEM for a website that I own. Here it is: NEM is a cryptocurrency and blockchain platform launched on March 31, 2015. Inspired by an earlier cryptocurrency called Nxt, its features include a unique proof-of-importance algorithm, Eigentrust++ reputation system, multi-signature accounts, tokens, namespaces, and encrypted messaging. The cryptocurrency is especially popular in Asia where it is being tested by financial institutions and corporations. Its next major update (Catapult) is designed to increase stability and scalability – offering better network performance as well as enhanced features. Is this correct? Are there any errors I should know about? And does anyone know if Catapult has been released? I did a bit of googling around and there are some conflicting sources but from what I can tell, it seems that it has been released for testing on private chains but it has not yet been implemented on the main chain? Thanks in advance! |
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Everyone likes to talk about the coins that they are most interested in. But what kinds of coins are you LEAST interested in?
For me, I usually ignore altcoins that fit the following descriptions:
- No technical innovation (e.g. simple Bitcoin clones, scrypt clones, etc.)
- Most animal coins (except Dogecoin of course)
- Nearly all country coins (because there are/were so many of them and they almost always ended up failing)
- High-PoS reward coins (because they ultimately tend to go down in value)
EDIT: Forgot to add:
- Ponzi schemes that advertise "guaranteed profits" (or lending platforms/trading bots that are really just obvious ponzi schemes in disguise)
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Going through the lowest market cap (i.e. dead) coins on CoinMarketCap, a lot of them are coins where the main (and sometimes only) feature is high-interest proof-of-stake. It seems that most high-interest coins are ultimately doomed to the same fate of a falling price and de-listing from exchanges.
So what's the point of high-interest coins then? What is the point of 100% yearly staking interest if the value of the coin is going to nosedive anyway?
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I saw this coin on livecoin exchange, does someone know it? i would like to have more informations
Here's a link to their [ANN] thread: https://cryptocurrencytalk.com/topic/50345-dmc-dynamiccoin-information/Dynamic Block Reward changes on the fly every 15 seconds based on market price of coin to create a stable and non-volatile price.
Block Reward ranges from 1 DMC to 1,000,000 DMC but will always be 1 if price is less than $1 USD
If Coin price goes down, the block reward decreases to reduce supply and increase demand
If Coin price goes up, the block reward increases to increase supply and reduce demand
When coin price reaches $1 miner incentive and ROI increases exponentially. for every $0.01 USD price higher than $1 the block reward will increase by 1 therefore increasing the block reward for the miner while on the same time increasing supply. e.g. if the coin price is $1.10 the block reward will be 10 DMC, if the coin price is $1.50 the block reward will be 50 DMC. HOWEVER, as the block reward increases so does the supply of the coin that will therefore create increasing supply and therefore decrease demand. those constantly 2 opposing forces of miners pushing price up constantly while on the same time increasing supply and reducing demand creates a stability that does not exist in other crypto currencies... So basically it's an attempt to create a stable crypto. When the price goes over $1, more coins are mined hence increasing supply and resulting in lower prices. When the price goes under $1, less coins are mined hence decreasing supply and resulting in higher prices. Now, I have no idea how they get the price data in the first place (and I don't have time to snoop around either). That being said, CoinMarketCap shows it as being worth $0.000114, so it seems that their attempt to keep it close to $1 has failed. |
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Most politicians might know nothing about Crypto currencies, but they have well informed advisors that are doing the ground work and research for them. A lot of the Banks also have financial advisors that are more than willing to give bad advise to these politicians and they are just one phone call or one secret meeting away.  There will never be a shortage of people who wants to score some brownie points with these politicians, so there are an abundance of resources out there for them to use. <Mostly bad advise> The average politician probably has little or no understanding of cryptocurrencies. Some might understand the basic idea of a blockchain and its decentralized nature but the percentage of lawmakers who know the difference between a private key and a public key, the process of setting up cold storage wallets, or how multi-sig should be implemented securely is almost certainly very, very small.
So if cryptocurrency does become regulated and businesses like exchanges are forced to implement security practices such as having most of their funds in cold storage, then who will decide what regulations should be implemented and how? Surely, it won't be the politician. as in everything else, they'll defer to experts/advisors/lobbyists. I wonder what kind of qualifications would be needed to become a cryptocurrency advisor. An advanced degree in computer science and/or cryptography could do it, but they would lack the financial knowledge. Someone having all three would be a hard find. The alternative would be to scout for those who regularly contribute code to cryptocurrency and blockchain projects, but a lot of the top minds in crypto are devs posting under anonymous/pseudonymous handles who don't give a damn about economics, finance, or anything that isn't about the code, and even if they do care about the wider perspective, chances are they will probably want the government to keep their hands off crypto anyway. |
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I was browsing the NEM rich list and was surprised to see so many stakeholder accounts that are now empty or displaying balances of <100 XEM. One account once had 15 stakes bought from the NXT AE but now only has 25 XEM. Had they not sold, that would be worth over $1 million at current prices. I know it's good for distribution but still, ouch.  On the other hand, there are also accounts which started off with a small amount of XEM and accumulated more over time. Several supernodes started off with only a small fraction of a single stake. |
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