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Author Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs  (Read 2973752 times)
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DaMut
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October 04, 2019, 11:13:23 AM
 #38741


Based on the announcement Nem Catapult will be released in Q1 2020, there is no exact date for this?
the testing will be done in approximately for 3 months, does not that mean there is a possibility for it to get delayed to Q2 2020?
And based on the news I followed on the Telegram channel before we are going to see it(Nem Catapult) live this fall 2019, any reason why the release is postponed?


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October 04, 2019, 12:03:50 PM
 #38742


Based on the announcement Nem Catapult will be released in Q1 2020, there is no exact date for this?
the testing will be done in approximately for 3 months, does not that mean there is a possibility for it to get delayed to Q2 2020?
And based on the news I followed on the Telegram channel before we are going to see it(Nem Catapult) live this fall 2019, any reason why the release is postponed?

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October 06, 2019, 11:27:43 AM
 #38743

https://forum.nem.io/t/catapult-elephant-update-part-3/23642
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October 09, 2019, 12:49:42 AM
 #38744

Catapult migration FAQ here - https://support.nem.help/hc/en-us/sections/360007012931-Catapult-Migration-FAQ

I don't really see how else this could've been done but there's still plenty of things that smell a bit.

A LOT of expectations are being put on exchanges and there'll be a time limit on claiming coins on the new chain from the snapshot. That already seems like a world of pain in waiting. It's quite remarkable how many original stakeholders were in comas or on multi-year military deployments with absolutely no internet access whatsoever until the time limit passed for claiming them.

One of this project's issues has always been that's it's not really all that decentralised and the centralisation that there is is not all that helpful either. This process appears to continue that tradition.



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October 09, 2019, 01:15:45 AM
 #38745

Catapult migration FAQ here - https://support.nem.help/hc/en-us/sections/360007012931-Catapult-Migration-FAQ

I don't really see how else this could've been done but there's still plenty of things that smell a bit.

A LOT of expectations are being put on exchanges and there'll be a time limit on claiming coins on the new chain from the snapshot. That already seems like a world of pain in waiting. It's quite remarkable how many original stakeholders were in comas or on multi-year military deployments with absolutely no internet access whatsoever until the time limit passed for claiming them.

One of this project's issues has always been that's it's not really all that decentralised and the centralisation that there is is not all that helpful either. This process appears to continue that tradition.



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October 09, 2019, 11:07:13 AM
 #38746

Catapult migration FAQ here - https://support.nem.help/hc/en-us/sections/360007012931-Catapult-Migration-FAQ

I don't really see how else this could've been done but there's still plenty of things that smell a bit.

A LOT of expectations are being put on exchanges and there'll be a time limit on claiming coins on the new chain from the snapshot. That already seems like a world of pain in waiting. It's quite remarkable how many original stakeholders were in comas or on multi-year military deployments with absolutely no internet access whatsoever until the time limit passed for claiming them.

One of this project's issues has always been that's it's not really all that decentralised and the centralisation that there is is not all that helpful either. This process appears to continue that tradition.





I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

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October 09, 2019, 03:24:37 PM
 #38747


I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

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October 09, 2019, 03:26:18 PM
 #38748

I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

Cos it's a better one? They're saying the old one will continue but they're going to have to sort a few things to keep people interested.

Yup. The time limit thing is not acceptable this time around in any circumstances. They're saying you need to manually opt in to receive a private key on the new network. I don't see why that can't either be automated forever or keep someone on to do it manually a few times a year if it's that labour intensive.

Dunno what the deal is with exchanges but I assume it'll be a simple process if they participate. Some may not.

And since it's a brand new chain it's possible it may start trading for zilch. Going on the past history of awareness, or lack thereof, no one's going to know or care what it is. A reboot of a fading chain may either be the new start it needs or turn it into the next NXT.
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October 09, 2019, 06:30:53 PM
 #38749

I read about this migration. I still dont understand why they are switching to new chain?

And this: "there'll be a time limit on claiming coins on the new chain from the snapshot" smell like a legal theft of users coins who do not respond in time.

Basicly more coins for exchange owners, more coins to dump and take fiat.

For example, i have account on bitrrex with some amount of XEM wich i traded before. AFter chain swap if i dont respond in time coins will be takeover by exchange?

Thats how i understand whole situation. Please correct me if i am wrong.

Cos it's a better one? They're saying the old one will continue but they're going to have to sort a few things to keep people interested.

Yup. The time limit thing is not acceptable this time around in any circumstances. They're saying you need to manually opt in to receive a private key on the new network. I don't see why that can't either be automated forever or keep someone on to do it manually a few times a year if it's that labour intensive.

Dunno what the deal is with exchanges but I assume it'll be a simple process if they participate. Some may not.

And since it's a brand new chain it's possible it may start trading for zilch. Going on the past history of awareness, or lack thereof, no one's going to know or care what it is. A reboot of a fading chain may either be the new start it needs or turn it into the next NXT.

agree with your opinion about the time limit ...

... crypted messages... sent to every NEM-account. The message could contain the key to the new Catapult account.
Isn't that possible?


I have tried to read all the related posts in forum.nem.io, and comment this issue only after reading and understanding it Wink
Well, it looks like that I have to start commenting before accomplishing that project.

During these 4 years the development of crypto scene has apparently gone forward and created new concepts...

opt-in        ...
"opt-in" ?
Can it be replaced by clear, basic English? Smiley
Many Nemsters are not native English-speakers and need to look translators or explanations like this
http://www.businessdictionary.com/definition/opt-in.html

But is that explanation the same as this NEM-opt-in ?


I hope this Catapult claming procedure will be clearer than the NEM's "clame the stake" procedure Smiley

NeXT NEM.
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October 10, 2019, 04:53:49 PM
 #38750

https://forum.nem.io/t/migration-committee-open-letter-to-supernode-owners/23579


SUPERNODES OWNERS OF NEM MUST READ IT ASAP Roll Eyes Roll Eyes Roll Eyes Roll Eyes
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October 11, 2019, 09:21:38 AM
 #38751

From the NEM support help: https://support.nem.help/hc/en-us/articles/360034476171-BASIC


22. QUESTION: What happens with Private Keys?

ANSWER: NIS1 private keys will work on Catapult post nemesis, the devs solved this approach a while ago to make it easier for holders to receive their Catapult tokens regardless of which mechanism is used for migrating XEM balances.


Do I understand this correctly that importing your NIS1 private key into Catapult will allow you to receive your snapshot balance from NIS1.  Then what is the point of opt-in if you can do this manually yourself.  Or is an opt-in required in order for your balance to be activated on Catapult?

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October 11, 2019, 01:56:35 PM
 #38752

From the NEM support help: https://support.nem.help/hc/en-us/articles/360034476171-BASIC


22. QUESTION: What happens with Private Keys?

ANSWER: NIS1 private keys will work on Catapult post nemesis, the devs solved this approach a while ago to make it easier for holders to receive their Catapult tokens regardless of which mechanism is used for migrating XEM balances.


Do I understand this correctly that importing your NIS1 private key into Catapult will allow you to receive your snapshot balance from NIS1.  Then what is the point of opt-in if you can do this manually yourself.  Or is an opt-in required in order for your balance to be activated on Catapult?

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October 11, 2019, 02:03:33 PM
 #38753

Do I understand this correctly that importing your NIS1 private key into Catapult will allow you to receive your snapshot balance from NIS1.  Then what is the point of opt-in if you can do this manually yourself.  Or is an opt-in required in order for your balance to be activated on Catapult?

I presume someone has to manually activate and send them to you. That's the only thing that can explain this requirement. Unless they maintain someone to do it for 5-10 years or more it's going to be a shitshow.

I can just about wrap my head around fucking off the stakeholders who missed the boat. There was plenty of warning and very little actual money on the line. That is not the case this time around.

I guess ultimately it's not a fork and XEM holders are being 'invited' to get new coins but this will just continue the PR problem.
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October 14, 2019, 02:26:56 PM
 #38754

I guess we'd have to opt-in to receive the new tokens.

Either way, whatever the NIS1 balance is at the time of the snapshot, the holder will receive equivalent in Catapult tokens on the new chain when opting in.  Would be interesting to see the logistics around this.

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October 14, 2019, 09:53:05 PM
 #38755

I guess we'd have to opt-in to receive the new tokens.

Either way, whatever the NIS1 balance is at the time of the snapshot, the holder will receive equivalent in Catapult tokens on the new chain when opting in.  Would be interesting to see the logistics around this.

So sooner or later we will need to switch to new NIS2 as i understand you? To much mess with this coin.

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October 15, 2019, 08:08:19 AM
 #38756

I'm going to make a prediction.

The core team will migrate some huge chunks of their own funds without an opt in because they lost the keys.

I think that's the real reason they are doing things in such an obtuse way. They lost access to a bunch of coins, and instead of admitting they're gonna fork to get it back, like ETH, they'll lie, and break backward compatibility to cover their tracks...

If they admit they can just fork to take back coins, then it makes them look even worse for not solving the coincheck hack that way.
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October 15, 2019, 08:27:25 AM
 #38757

I guess we'd have to opt-in to receive the new tokens.

Either way, whatever the NIS1 balance is at the time of the snapshot, the holder will receive equivalent in Catapult tokens on the new chain when opting in.  Would be interesting to see the logistics around this.

So sooner or later we will need to switch to new NIS2 as i understand you? To much mess with this coin.

My understanding is that there will be a snapshot at a certain block height, whatever your NIS1 balance is at that block height, you will be allocated the equivalent in NIS2 balance on Catapult.  When you decide to receive the NIS2 catapult balance is up to you, some people may decide to receive it in the next tax year for example and opt in then, as in some countries this is classed as a taxable event.

Some people may decide to opt-in before.  Some may decide to opt-in a few years later when trading conditions are more favourable.

Either way I don't think you need to opt-in straight away, as long as you have NIS1 balance at the time of the block height snapshot you will have an allocation / claim to receive NIS2 tokens.

I suppose sending some kind of message from a NIS1 wallet containing your balance before or after the snapshot may be part of the opt-in claim process.

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October 15, 2019, 08:39:38 AM
 #38758

Token Allocation:

Under this model, holders are free to opt in pre-launch or post-launch, it does not require surrendering of the XEM tokens and are given Catapult tokens. Holders opt-in pre Catapult launch by sending a transaction from Nano Wallet (or programmatically) which indicates their desire to take part, but does not require them to burn their tokens. The Catapult Nemesis block then distributes Catapult tokens to those accounts that have opted in. Any tokens that are not claimed by the Nemesis block will be placed under a legal entity with transparent by-laws/trust deeds and leadership team, to be claimed post go live up to an as yet to be defined deadline - it should be years long, so is likely to be significant in nature and it is probable; a new entity will be created for this purpose and legal analysis is underway to guide this, we will provide further information when it is known. It is imperative that this entity has clear, transparent and legally enforceable rules which bind its management to work for the ongoing health of the NEM ecosystem for the future. This will take some time but is worth getting right.

https://forum.nem.io - Catapult Launch Announcement 1

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October 15, 2019, 08:46:55 AM
Merited by tyz (1)
 #38759

Nem Foundation Technology Department Update October 2019

Summary

• Core devs released a new version of Catapult, codenamed Fushicho. The update comes with basic DoS protection to ban nodes and close connections of nodes with bad behaviour and several bugfixes and standardization changes.


• NEM Foundation Testnet for Catapult is now running Fushicho protocol version. We are currently inspecting the Fushicho feature set and will update our network accordingly.


• The NEM Developer Center is constantly being updated to integrate latest Catapult features. Find out what has been worked on by our Technical Writers.


• A new version of the Command Line Interface for Catapult is now available (nem2-cliv0.13.2) with some features add ons to work with address and mosaic restrictions.


• The Block/Network Explorer (Super Explorer Framework) project has seen many contributions over the course of September.


• The Desktop Wallet project has also seen many contributions and the team is currently working on Fushicho compatibility to match our Testnet as soon as it is upgraded.


• The Mobile Wallet project is moving along with new features.


• The technology department of the NEM Foundation has helped with contributions to the migration committee in order to provide an optin migration action plan.


More detailed information and direct links to github - https://forum.nem.io/t/nem-foundation-technology-department-update-october-2019/23686

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October 15, 2019, 04:30:06 PM
 #38760

Catapult + NIS1 Tokenomics Public Proposal
https://forum.nem.io/t/catapult-nis1-tokenomics-public-proposal/23660

I would NOT reduce the maximum supply of XEM2 by a decimal place.
Decreasing the supply will just open up another whole new can of worms in this migration.

A 10x reduction is a marketing tactic that while it ~might~ be beneficial in the short-term, it
adds unnecessary risk.

We need to minimize the unintended consequences, not the supply.

Keep the XEM:XEM2 ratio 1:1

Go NEM!  Smiley

XEM https://nem.io   XYM https://symbolplatform.com  IOTA https://iota.org
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