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

[Amalgamus]

Awesome

[gimre]

who would have thought

[Anon136]

Balance, coin age, incoming and outgoing transactions play a role in calculating the importance. Having the importance the rest is a deterministic random algorithm like nxt.

Litmus test: Does chance of generating a block depend on a snapshot of the system only? (Without taking into account state transitions like transactions.)

CFB I put some weight in your judgement. You very clearly understood nxt (you were the one who explained it to me) and you understood the reason behind all of its various mechanisms, the attack vectors that it faced, and how it cleverly dealt with them. I really very highly doubt that this "Balance, coin age, incoming and outgoing transactions play a role in calculating the importance." wont be able to be gamed. I'm already imagining the attack vectors in my head. Someone creating a ton of accounts and interacting with himself between his accounts inorder to make his activity appear valid in accordance with the demands of w/e schemes the dev comes up with. What do you think?

*edit* i need to point out that im not saying that the system wont be secure, the extent to which it is proof of stake may provide enough security, the real question is whether all these extra bells and whistles added to the consensus mechanism will actually decrease the security of the network.

[gimre]

Someone creating a ton of accounts and interacting with himself between his accounts inorder to make his activity appear valid in accordance with the demands of w/e schemes the dev comes up with.

not that easy, vested balances comes into play. (well also one more mechanism too, but I won't disclose it as of now)

[McDoxy1]

Important News - NEM is launching!

The waiting period is finally over. The Nemesis block is now complete, Main Net testing is running as planned and everything else appears to be prepared for launch. Thus, we are very happy to announce the official launch date for NEM: 31 March 2015 - at 19:00 UTC.

Important Note: Despite best intentions the above mentioned launch date is a tentative one and we reserve the right to change it if any critical issue would arise in the meantime that could endanger the NEM network.

You can also read a complete update on NEM in Newsletter #10.

P.S. A big thank you goes to our dev team, marketing team and community helpers who have been working hard to get all this ready.

See you at launch,
The NEM Team

FINALLY!!!

[Jengo]

Important News - NEM is launching!

The waiting period is finally over. The Nemesis block is now complete, Main Net testing is running as planned and everything else appears to be prepared for launch. Thus, we are very happy to announce the official launch date for NEM: 31 March 2015 - at 19:00 UTC.

Important Note: Despite best intentions the above mentioned launch date is a tentative one and we reserve the right to change it if any critical issue would arise in the meantime that could endanger the NEM network.

You can also read a complete update on NEM in Newsletter #10.

P.S. A big thank you goes to our dev team, marketing team and community helpers who have been working hard to get all this ready.

See you at launch,
The NEM Team

YESSSS

[kattokassinen]

Yes yes!! Thank you very much dev team for this fantastic opportunity ☺

[jelin1984]

Yes that the news that we want

Go nem go

[Come-from-Beyond]

Snapshot in the sense that gimre meant includes transactions. Transactions do play a role and looking at your example probably in most case will not be the same outcome.

Hm, ok. Whitepaper will be released soon, after that we continue.

[fartbags]

How do I get the cheapest coins?

[Come-from-Beyond]

What do you think?

I think that if importance grinding attack* requires exponential effort then we still can live with it. For example, in Nxt it's possible to increase forging rate by exploiting TF (you don't forge some blocks to be able to forge more blocks in near future). For double forging power you have to pay with infinite amount of electricity burned for prediction. This doesn't lower security of Nxt much. A similar effect may exist in NEM, I need the whitepaper for a deeper analysis.

-----------
* - such an attack is possible, look at my example about Alice, Bob and Charlie upthread and BloodyRookie's reply.

[freigeist]

How do I get the cheapest coins?

Maybe by stealing them  

[gsxrl3oi]

well done devs. Thank you for the relentless work. Cheers to the community

[rockethead]

Chance of generating a block depends only on a snapshot of the system.

Then PoI should work.

If it was like that - Alice sends 1000 coins to Bob != Alice sends them to Charlie and then Charlie to Bob - then it could be abused.

Thank you Alice, Charlie and Bob. You will eventually contribute all your 1000 coins to the harvesting efforts of the system for playing the "musical coins".

[rockethead]

Balance, coin age, incoming and outgoing transactions play a role in calculating the importance. Having the importance the rest is a deterministic random algorithm like nxt.

Litmus test: Does chance of generating a block depend on a snapshot of the system only? (Without taking into account state transitions like transactions.)

CFB I put some weight in your judgement. You very clearly understood nxt (you were the one who explained it to me) and you understood the reason behind all of its various mechanisms, the attack vectors that it faced, and how it cleverly dealt with them. I really very highly doubt that this "Balance, coin age, incoming and outgoing transactions play a role in calculating the importance." wont be able to be gamed. I'm already imagining the attack vectors in my head. Someone creating a ton of accounts and interacting with himself between his accounts inorder to make his activity appear valid in accordance with the demands of w/e schemes the dev comes up with. What do you think?

*edit* i need to point out that im not saying that the system wont be secure, the extent to which it is proof of stake may provide enough security, the real question is whether all these extra bells and whistles added to the consensus mechanism will actually decrease the security of the network.

Be my guest. NEM harvesting community will be very happy for you to do that. Some should be able to write you a script for that too. Warning though: You will need to keep buying XEM to top up as it will drain all your XEM in no time. For the Alice, Bob and Charlie case, I would estimate that you will need to top up 1000 XEM continuously at every 500 minutes or so if you do it serially, faster if you do it in parallel.

[Kolbas]

Congratulations!
And I like the new guitar plectrum logo.

[isasim]

Important News - NEM is launching!

The waiting period is finally over. The Nemesis block is now complete, Main Net testing is running as planned and everything else appears to be prepared for launch. Thus, we are very happy to announce the official launch date for NEM: 31 March 2015 - at 19:00 UTC.

Important Note: Despite best intentions the above mentioned launch date is a tentative one and we reserve the right to change it if any critical issue would arise in the meantime that could endanger the NEM network.

You can also read a complete update on NEM in Newsletter #10.

P.S. A big thank you goes to our dev team, marketing team and community helpers who have been working hard to get all this ready.

See you at launch,
The NEM Team

WOW, Good news!

[smith coins]

I just made this for the OP:



I hope it will be used from you guys  

If anyone wants the gif with an alpha background, just PM me.

simply love it

thats really cool! nice work!!

great work !!!
this will be the official logo ?

[hvezdasmrti]

A stupid question: is there any prediction of rentability/profitability if im going to maintain a full 24/7/365 node in my network running it shortly after the NEM launches? The hardware neither connectivity is not a problem.

[jabo38]

I just made this for the OP:



I hope it will be used from you guys  

If anyone wants the gif with an alpha background, just PM me.

That's nice!