NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs

[rockethead]

http://www.coindesk.com/nomura-research-consortiums-banks-blockchains

It's good to see we are on the right path

It appears what they are saying is, cut the R3 consortium approach, and go for the jugular, which is what NRI/SBI/Dragonfly is doing right now. Bodes well for NEM, now that industry champions are beginning to push that.

Better times to come for NEM indeed!

Having a hard time understanding R3? 

What technology do they use, or is it just utilizing bitcoin's blockchain?

Seems they are well connected to Wall Street ...

NEM's platform and the direct approach of Mijin/Dragonfly are looking better and better!

R3 is the biggest project of this scope and Mijin's main competitor, but they don't actually have a chain.  They do have a big group of banks and others signed up though.  Mostly in the America and some in Europe, not in Asia. 

SETL is also doing well in Europe. 

Other honorable mentions are Adept from IBM, and T0 from Overstock.

But that is about it right now. 

For the most part it is R3 and then everybody else. 

Mijin is actually the first mover with a live chain though so people can actually start testing and incorporating now.  And since it is built on NEM, it has been battle tested now for a year and a half and we know it works.  So in someways, we aren't just ahead, we are far ahead with actual product development.

R3 is NOT Mijin's competitor. R3 is a project that is trying to establish a standard for the financial industry using smart contracts. They are using Ethereum to do it. Ethereum is a nice concept, too, but whether they can convert these ideas to real projects is another exercise. I would say it is academic now and is a long way away. They still have a lot of things to iron out, which is getting very messy and hard to do.

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[ryanb]

I am getting error 700 when i start delegated harvesting.

Any ideas what is going on?

Hi Ryan, what is the message with the error?

I did the local harvesting and still getting the error it says Error 700 NIS Harvesting INELEGIBLE

what am I missing?

[patmast3r]

I am getting error 700 when i start delegated harvesting.

Any ideas what is going on?

Hi Ryan, what is the message with the error?

I did the local harvesting and still getting the error it says Error 700 NIS Harvesting INELEGIBLE

what am I missing?

What's your vested balance ? If you're not sure just post or pm your account and I'll check it for you.

[ryanb]

I am getting error 700 when i start delegated harvesting.

Any ideas what is going on?

Hi Ryan, what is the message with the error?

I did the local harvesting and still getting the error it says Error 700 NIS Harvesting INELEGIBLE

what am I missing?

What's your vested balance ? If you're not sure just post or pm your account and I'll check it for you.

Just found out that I need 10000 vested, it is getting there.

Another question will it harvest if i close the wallet "Browser window" and keep the app running?
using local harvesting ofcourse.

[jabo38]

Just found out that I need 10000 vested, it is getting there.

Another question will it harvest if i close the wallet "Browser window" and keep the app running?
using local harvesting ofcourse.

Yes, it will. You can close the browser and close NCC.  As long as NIS is still running it will be harvesting for you quietly in the background.  It takes up more RAM than I would wish for, but it uses almost none of your processor power and so basically very little electricity.

[greentea]

This may interest the DragonFly team:
http://www.businessinsider.com/remittance-explainer-report-2015-7

Nice volume on Poloniex the past 24 hours ...

[Nortan12rx]

This may interest the DragonFly team:
http://www.businessinsider.com/remittance-explainer-report-2015-7

Nice volume on Poloniex the past 24 hours ...

good day for xem
xem price will go up to 80 - 100 sats soon.

[Trollollo]

This may interest the DragonFly team:
http://www.businessinsider.com/remittance-explainer-report-2015-7

Nice volume on Poloniex the past 24 hours ...

good day for xem
xem price will go up to 80 - 100 sats soon.

For coin like XEM it is nothing

[coingirl87]

i cant harvesting...
get error 699

NIS: HARVESTING LIMIT HIT

what now?

[mixmaster]

i cant harvesting...
get error 699

NIS: HARVESTING LIMIT HIT

what now?

i stopped doing first level support on this forum, its too annoying. people ask questions again and again and again.

please check the forum: https://forum.nem.io/
or join us on telegram (send me your telegram username and i will add you to the group chat).

[coingirl87]

i cant harvesting...
get error 699

NIS: HARVESTING LIMIT HIT

what now?

i stopped doing first level support on this forum, its too annoying. people ask questions again and again and again.

please check the forum: https://forum.nem.io/
or join us on telegram (send me your telegram username and i will add you to the group chat).

username on telegram is Be5en5tiel

Thank you

[minerfool]

Interesting read from Mike Hearn:

I will no longer be taking part in Bitcoin development and have sold all my coins.

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.bagnbfdto

[nzminer]

Interesting read from Mike Hearn:

I will no longer be taking part in Bitcoin development and have sold all my coins.

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.bagnbfdto

Lets invite him to join XEM development!   

[kelsey]

Interesting read from Mike Hearn:

I will no longer be taking part in Bitcoin development and have sold all my coins.

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.bagnbfdto

Lets invite him to join XEM development!   

yes that centralised, in bed with the banksters, backstabbing type scum would fit in well here

[dalistar]

Hello everyone here

I want to start invest in this coin
But I can't read all pages in this topic it is too much

Just answer me. Is this coin staking profitable or no ... and what percent reward for staking ?

Is that daily reward ?

[makoto1337]

NEM was mentioned in this Tech Crunch article:

http://jp.techcrunch.com/2016/01/15/infoteria-techbureau/

[jabo38]

Hello everyone here

I want to start invest in this coin
But I can't read all pages in this topic it is too much

Just answer me. Is this coin staking profitable or no ... and what percent reward for staking ?

Is that daily reward ?

No, there is no staking with inflationary block rewards.  9 billion XEM were created in the Nemesis block and that is all that will ever be created.  

In NEM there are two ways to earn extra XEM though.  

The first is through harvesting (mining block fees via making blocks).  To harvest a person needs to have at least 10,000 XEM vested (I suggest getting at least 20,000 to help speed up vesting), and to run a node and harvest.  Small accounts will definitely make blocks, but there is no guarantee those blocks will have transactions and fees in them as of right now.

We have also started a supernode reward program (we are in alpha phase so not quite releasing rewards yet but getting close).  A person with 3 million XEM bonded to a node (still in your control the whole time) and who runs a high performance node that contributes to the network, then they will be able to earn node rewards.  We will start node rewards at 70,000 XEM per day and ramp up to 250,000 XEM per day or more.  

What is the difference?  

A person with 10,000 XEM vested can run NEM on a raspi with their ports closed and make blocks and earn fees.  These people help to secure the chain against a 51% attack.

Node rewards seeks to make sure there are lots of high bandwidth nodes on the network serving up light wallets and mobile clients so those services don't have to be run through untrusted centralized services.  

NEM's light wallets and mobile apps can connect to any node for any transaction.  

[jabo38]

NEM was mentioned in this Tech Crunch article:

http://jp.techcrunch.com/2016/01/15/infoteria-techbureau/

NEM is in the news everyday in Japan.  Hoping English Tech Crunch will report on it soon.

[solix]

For those wishing to read the non-stealth edited version of the following article, find attached original text following the link to the published article below:

http://www.coindesk.com/nomura-research-consortiums-banks-blockchains/

Code:

NRI: Consortium Model No Silver Bullet for Blockchain
Pete Rizzo (@pete_rizzo_) | Published on January 13, 2016 at 13:23 GMT

Despite the interest of large financial firms in pursuing consortium models as part of their effort to understand blockchain and distributed ledger tech, a leading Japan-based think tank believes these efforts could fall out of favor should alternative approaches yield more success.

In a new interview with CoinDesk, Kazumitsu Yokokawa, head of the financial services research and technology group at Nomura Research Institute (NRI), indicated that he believes private proof-of-concepts (P0Cs) will be more effective when pursued with the help of firms like his own.

The NRI has to date emerged as one of the most active firms in Asia in investigating the emerging technology, announcing two P0Cs in 2015 with parent firm Nomura Securities and Japan-based online bank SBI Sumishin.

Yokokawa told CoinDesk that, in his opinion, financial firms are eager to test both consortiums and partnerships with professional services firms like NRI, Deloitte and PwC, but that he believes the latter approach will yield faster and more actionable results.

Yokokawa said:

"I think financial firms are going to bet on both individual P0Cs and consortium models. They want to work individually and with groups, but I personally believe that private P0Cs will see quicker results."

As for NRI, the Tokyo-based firm is largely exploring the technology’s use cases in Japan, a region where blockchain industry developments have been few and far between.

NRI, Yokokawa said, sees a strong business case in exploring blockchain technology given the demand by groups like Nomura and SBI. Still, he inferred NRI is looking at these partnerships strategically as it seeks to gather its own expertise in the subject area.

For example, he noted that NRI is working with Nomura to investigate applications in securities, while SBI is focused on banking. Further P0Cs, he said, could be launched around other use cases as they are identified.

"Blockchain could be used for many industries, including retailers and enterprises, and we are interested in exploring these," he said. "The purpose of these PoCs is to come up with practical ways to use blockchain in the future for these industries beyond financial industry."

Fear of missing out

Big financial institutions, in Japan and abroad, he said are interested in exploring the technology as evidenced by their response to news of its pilot programs. However, he notes their conclusions are not yet developed.

This, he argues, has led to the multi-pronged approach where members like Nomura are willing to work with groups like NRI and R3, which has so far attracted more than 40 international banks to its consortium effort.

"The simple questions are 'Why are we using the blockchain?', 'What is the benefit of the blockchain?', 'What is the outcome?'. Those who haven’t studied it don’t understand the reasons, and they want to know what other people are doing," he explained.

As for NRI’s thesis on blockchain tech, Yokokawa said that he believes it’s not clear that some of the more impressive use cases will be validated.

In particular, he questioned the idea that major clearinghouses, which provide clearing and settlement services to large financials, face a threat from the technology.

"Blockchain should be first applied for small-scale thing such as unlisted equities which need a lot of manual operation without systemization," he suggested.

Yokokawa said he believes that the blockchain is today most compelling as an alternative to paper-based processes, and that more complex uses cases are further away than is widely asserted.

Bridging interests

For its part, NRI sees itself as an enabler of exploration in the industry due to its ability to identify "innovative blockchain vendors" and to coordinate between these groups and more established financial organizations.

"Blockchain study requires both innovative technologies and financial knowledge. SBI Sumishin, Dragonfly Fintech and NRI as a team will provide these essential elements of industry knowledge and cutting-edge technology for blockchain PoC," Yokokawa said.

He further noted that NRI has advantages in Japan’s market, as local blockchain startups, he said, largely lack a strong knowledge of the financial industry.

This, he said, is in contrast to the US, where groups often include a mix of tech and business specialists.

"We provide the knowledge of financial industry and make a package service working with the ventures since we know the market," he added. "We coordinate."

For its efforts, NRI has partnered with Dragonfly Fintech for its PoC with SBI, a startup Yokokawa lauded for developing the "first" private blockchain for the Japanese market.

Plan of action

Following the completion of its initial PoCs, Yokokawa said NRI will make its own determinations on how to move forward with blockchain technology, including potentially releasing its technology.

Yokokawa said that NRI employees, including researchers, systems consultants and developers, are all working on blockchain.

For now, however, he’s content with the company being the de-facto leader in its market by virtue of its early work.

“We are the first and only one [working with blockchain] in the securities market in Japan. In the banking industry, we are also early adopters,” he said.

Still, he wouldn’t rule out potentially collaborating with R3, noting that its largest competitor, Mitsubishi UFJ Financial Group, has joined the effort.

He concluded:

"With our close ties and existing relationships with those Japanese financial institutions, we aim to keep creating new value in the marketplace."

Image via Nomura

[nzminer]

Hello everyone here

I want to start invest in this coin
But I can't read all pages in this topic it is too much

Just answer me. Is this coin staking profitable or no ... and what percent reward for staking ?

Is that daily reward ?

If you hold 2-3million XEM, you will harvest at least 100 XEM per week on average, bear in mind that once NEM gains adoption and the value increases tenfold, this would be a substantial amount of earning each week.