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

[rockethead]

NEM is block chain tech as has always been said for a very long time. Block chain tech only gained traction of late. Block chain tech will scale to millions of users in the coming years. Having 10 million users on NEM at an average of 1 transaction a day requires a minimum of 100 million XEM to fuel it, 3 Billion a month, 1/3 the total circulation.

[samysamy1]

Heads up - Mosaic and Namespace were not thought of in a jiffy. They have been brewing from more than a year ago. Think beyond and one will realise the power of its uses. Revolutionary indeed. As usual devs have been impressively super in the coding.

The creation of Mosaic and Namespace have made things so simple and uncomplicated that we do not need to do things in roundabout ways like some of our crypto colleagues.

The why no buzz? All I see are the same names in here, flat/declining market prices, and arrticles written by NEM fanboys/girls. Where is the hype is this coin is so revolutionary???

NEM doesn't want to be associated with mainstream crypto + the developers are targeting other people and other markets and NOT BTT and cryptocurrency markets. They aim to compete with Visa instead of Bitcoin.

[jkoil]

Heads up - Mosaic and Namespace were not thought of in a jiffy. They have been brewing from more than a year ago. Think beyond and one will realise the power of its uses. Revolutionary indeed. As usual devs have been impressively super in the coding.

The creation of Mosaic and Namespace have made things so simple and uncomplicated that we do not need to do things in roundabout ways like some of our crypto colleagues.

The why no buzz? All I see are the same names in here, flat/declining market prices, and arrticles written by NEM fanboys/girls. Where is the hype is this coin is so revolutionary???

NEM doesn't want to be associated with mainstream crypto + the developers are targeting other people and other markets and NOT BTT and cryptocurrency markets. They aim to compete with Visa instead of Bitcoin.

THAT I was thinking...

surprised this hasnt been posted here yet...

http://cointelegraph.com/news/114932/nem-right-now-we-have-the-best-designed-blockchain-platform-in-existence

Technology might be the product, which NEM sells ...)

Then; would the XEMs be kind of shares of that tech project?

If the NEM technology will be used in the forthcoming crypto world, then ... what?
a) the price of XEM will rise
b) the ... ..... .... will ....
c) the FUD will be dead
d) the ... ... competitors ... .... ....
e) ...


Well, a lot of empty statements and open cases due to not being in the core of the crypto waves

 

[dandruff1138]

How many of you in here would say that NEM is the best investment of all altcoins right now?  I have a half a bitcoin to spend...I doubt between NEM and NXT. NEM hasn't had its rise yet so that seems attractive, on the other hand NXT has already established itself but their wallet is a pain in the ass, I like their ideas but it's not practical for mass adoption yet, the wallet is wayyyy to heavy... What ya'll think?

I think unless something big happens soon, this is going to be like the other 10,000 alcoins, just going in circles while the rest of cryptocurrency moves on to the next big development.

[rigel]

How many of you in here would say that NEM is the best investment of all altcoins right now?  I have a half a bitcoin to spend...I doubt between NEM and NXT. NEM hasn't had its rise yet so that seems attractive, on the other hand NXT has already established itself but their wallet is a pain in the ass, I like their ideas but it's not practical for mass adoption yet, the wallet is wayyyy to heavy... What ya'll think?

I think XEMs is a good investment if you are not looking at the short term.
If you are unable to wait don't buy them.

[megashira1]

Ok, so I deleted my old NEM wallet as a result of reinstalling the software. Everything works fine now. How do I retreive my old wallet without having to create a new wallet and re-importing my private key?

[Trollollo]

Ok, so I deleted my old NEM wallet as a result of reinstalling the software. Everything works fine now. How do I retreive my old wallet without having to create a new wallet and re-importing my private key?

If you made back up of your wallet go to C://users/your user name/Nem/ncc/and paste your back up file there

[jkoil]

Heads up - Mosaic and Namespace were not thought of in a jiffy. They have been brewing from more than a year ago. Think beyond and one will realise the power of its uses. Revolutionary indeed. As usual devs have been impressively super in the coding.

The creation of Mosaic and Namespace have made things so simple and uncomplicated that we do not need to do things in roundabout ways like some of our crypto colleagues.

The why no buzz? All I see are the same names in here, flat/declining market prices, and arrticles written by NEM fanboys/girls. Where is the hype is this coin is so revolutionary???

NEM doesn't want to be associated with mainstream crypto + the developers are targeting other people and other markets and NOT BTT and cryptocurrency markets. They aim to compete with Visa instead of Bitcoin.

THAT I was thinking...

surprised this hasnt been posted here yet...

http://cointelegraph.com/news/114932/nem-right-now-we-have-the-best-designed-blockchain-platform-in-existence

Technology might be the product, which NEM sells ...)

Then; would the XEMs be kind of shares of that tech project?

If the NEM technology will be used in the forthcoming crypto world, then ... what?
a) the price of XEM will rise
b) the ... ..... .... will ....
c) the FUD will be dead
d) the ... ... competitors ... .... ....
e) ...


Well, a lot of empty statements and open cases due to not being in the core of the crypto waves

 

If NEM is a Tech project, should not there be descriptions like:
all process names of NIS, NCC, ... in Windows Task Manager
and how active they are, how much memory and CPU they consume
etc.

[jabo38]

Hi Guys,

It is my pleasure to introduce you to Namespaces on NEM!

A domain name is required when making an asset on NEM (that asset function is called NEM Mosaics and will be explained more later). Each individual who wishes to create a mosaic needs to register a root domain name.  This domain name can be thought of very much like a website domain and in NEM is known as a namespace. This can be bought for an amount of XEM (to be defined later). The namespace length shall be limited to 16 alphanumeric characters.

A creator owning the root domain namespace can create as many sub-domains as wanted, using a convention similar to the Java namespace convention, i.e., separated by a dot “.” to represent a domain or subdomain and an asterisk surrounded by a space on each side “ * ” to represent the name of an asset. This is the current internal convention in NIS and how it is represented later in the NIS and/or NCC UI might differ. This gives the creator a practically limitless number of mosaics that can be defined within a practically limitless number of sub-domains.  The sub-levels of a namespace can act as the actual name of the asset, or in some cases can be a class of assets as it is itself a sub-domain with lots of assets under that sub-domain name.   This means that last part of a mosaic will always be the name of the individual asset on the NEM blockchain and the prior names will act as the domain and/or subdomain for that asset.  



In the above example there are 6 assets.  They are as follows:
1.       jabo38.jeffsilver * halfounce
2.       jabo38.jeffsilver * ounce2015
3.       jabo38 * iposhares
4.       jabo38.exchange * usd
5.       jabo38.exchange * eur
6.       jabo38.exchange * zar

In the first example the domain is jabo38.jeffsilver and the asset is halfounce. In the second example the domain is jabo38.jeffsilver and the asset is ounce2015. And in the third example the domain is jabo38 and the asset is iposhares.

While the first part of a namespace is globally unique on the NEM blockchain, the rest of the parts of a namespace are not. Having non-unique sub-domains in a namespace system allows for anyone to use any name in the subdomain positions, making squatting on certain names far less exclusive as they are not globally unique, and at the same time giving chances for easily recognizable names within one’s personal local network.  

This is from the nem forum. https://forum.ournem.com/general-discussion/introducing-namespaces/msg17902/#msg17902

Couple of questions:

I'm guessing the root namespace has to be unique ?

Yes.

Will namespaces expire over time ? If so, will it be cheaper to renew than to re-register ?

No.

Will namespaces have any functionlity beyond mosaics ? Like using them as alias for certain accounts ?

There are no concrete plans as of now but of course there might be functionality somewhere in the future.

Will namespaces be multi-sig compatible ? I.e. can I make it so that mutiple accounts can issue new sub-domains but everyone has to sign-off on it.

Creating a sub-domain is done via a transaction and transactions respect multisig, so yes you need the cosignatories.

Will there be an easy way to trade namespaces i.e. transfer ownership ?

The first version will not include that feature, but maybe later vesions.

[jabo38]

This is exactly right. "These are still early days."

PayPal processes $240 billion worth of transactions a year and has a marketcap of $45 billion. https://finance.yahoo.com/q?s=PYPL
Visa processes $4.8 trillion worth of transactions a year and has a marketcap of $181 billion. https://finance.yahoo.com/q?s=V

A $9 billion marketcap is nothing for a technology that will most likely compete with all current financial institutions.

Bitcoin has first-mover advantage and is the top brand, but NEM will have second-mover advantage being more efficient and feature-rich.

Bitcoin
-Has inflation (14,437,800 btc in circulation, that leaves 6,562,200 btc still left to mine). https://blockchain.info/charts/total-bitcoins   https://en.bitcoin.it/wiki/Controlled_supply
-Energy hog Proof-of-Work block reward algorithm. (PoW a.k.a. Proof-of-Waste)
-PoW mining causes monetary inflation.
-Slow 10 minute transaction confirmation.
-Poor initial distribution.
-No asset exchange.

NEM
+Zero inflation (fixed supply, all 9 billion coins released at launch).
+Energy efficient Proof-of-Importance block reward algorithm. (PoI is environmentally friendly and rewards only the most active nodes.)
+PoI harvesting, no monetary inflation, coins are earned solely from transaction fees.
+Fast 1 minute transaction confirmation.
+Relatively large egalitarian distribution.
+Delegated harvesting.
+Encrypted messaging.
+m-of-n Multi-signature.
+Eigentrust++ peer reputation management.
+One-click install client.
+Ninja releases!  
future:
  +Business rules.
  +Decentralized asset exchange.
  +Mobile wallet for Android and IOS.
  +...

NEM is built 100% from scratch (not a fork of Bitcoin or Nxt). The devs engineered NEM for the future with 9 billion* XEM.
*actually 8,999,999,999 XEM (Burning 1 XEM gave us that "fortunate" eight at the beginning.)

Estimated population, based on current growth trends, to reach 9 billion in 2040.  https://en.wikipedia.org/wiki/Projections_of_population_growth
World population to exceed 9 billion by 2050.  http://www.un.org/esa/population/publications/wpp2008/pressrelease.pdf

Bitcoin: 21 million/1 satoshi = 2.1 quadrillion units.
NEM: 9 billion/0.000001 = 9 quadrillion units.

The unregulated derivatives market is ~$1.5 quadrillion dollars. http://moneymorning.com/2014/10/01/taking-profits-in-a-1-5-quadrillion-bubble/

NEM is designed to accommodate our entire global economy.



NEM has great potential. In the future I can easily see 1 XEM being valued at 1 fiat dollar.

Nice summary someone needs to make an infographic out of this ...

That is a very good summary. 

I would love to see it become an infographic, and I could even add a few more nice things about NEM.

If somebody is has the ability to make nice infographics, I will pay them 100,000 XEM bounty out of my own wallet. 

[MrPortMan]

NEM isn't going to compete with BitCoin, NEM will compete with Pay Pal, VISA, and Master Card

Quote:

NEM - technology of a block chain, as always was told during very long time. The technology of a block chain only received draft recently. The technology of a block chain will be measured by millions of users in the next years. Existence of 10 million users on NEM on average demands 1 transaction a day that at least 100 million XEM fed it, 3 billion a month, 1/3 full address.

I.e. 9 billion coins of XEM became ideal quantity for all world economy. Even with a stock left if consider internal turns on maxima 3 billion XEM a month. Such situation can give the chance not only compete with Pay Pal, VISA, and Master Card, but also subsequently to prove to the whole world that NEM much more functional new technology of a block chain as system of payments (including additional functions) than representatives of this world's leading three of PP, VISA, MC.

The new fourth player in the person of NEM which in all the parameters approaches to conform to requirements of payment systems is in all respects planned. And it is instantaneousness of carrying out payments. All three payment PP, VISA, MC systems possess property of instant transfer of means. NEM of course isn't instant, but within 1 minute it is possible to send means to anyone around the world. The technology of a block chain of NEM processes 1 block 1 minute. Thus, when nembex will be overflowed and take too much place on a disk, it will be possible to reduce considerably thanks to snapshots the weight of the file of a block chain of NEM. Thus the increasing number of transactions won't be an obstacle for new users who only start using for them new technology of a block chain of NEM. From developers it is required to make so that as much as possible to reduce time of the first full synchronization for novice users. It isn't necessary to keep them waiting at all for long hours of full synchronization with a network because they won't wait. They need instantaneousness at any time. I came into a network, it was quickly synchronized (process has to be as it is possible it is most accelerated by means of snapshots), I sent payments, messages, or other stay in a NEM network. If not to make it, users will choose PP, VISA, MC and anything with instant payments but only not that it is long necessary to wait to be synchronized. Therefore in this plan of NEM technology of a block chain it is necessary to correspond in all respects to speed and instantaneousness of payment PP, VISA, MC systems.

I will make a few derogation from a subject.

Now the era of mobility began, people go with smartphones, tablets, and so on. The era desktop personal computers gradually starts going to yesterday. Therefore not to lag behind, I consider that development of the mobile NEM app is the correct step towards to the future. There, in a mobile application, most likely it won't be necessary to wait for synchronization. I started and at once use all functions which are available there which will be constantly supplemented. It is necessary if for something to pay it isn't obligatory to climb in a pocket behind a credit card, it will be possible to pay directly from NEM of a mobile application. Operation of payment will be instant. I know, all of us are owners of smartphones, tablets we look forward to emergence of the mobile NEM app to test this system and to see own eyes as there all inside. The share of users of mobile applications will grow every year and grow in a geometrical progression and if the NEM mobile application conforms to requirements: Instant synchronization at the first start, decentralization, small weight, all these pluses will be able quite to compete with PP, VISA, MC. People will use even more often in calculations of XEM. It is necessary only fiat to bring gateway really there in the app in the form of assets, for convenience of instant replenishment through gateway of XEM of a mobile wallet. Further the following stage of development it is necessary to introduce in a mobile application of service providers. For example it will be possible to pay directly from the NEM mobile application for mobile communication, for the Internet, to buy tickets for the international transport, or to buy tickets for example at cinema. The services sector needs to be introduced in the app, and constantly to fill up the list of service providers that the user on all cases in life needed only one NEM mobile application.

Users of a mobile application will be one many more than users of the personal computer of versions of the NEM network. Therefore it is necessary to introduce a services sector. But first of all it is a supply multiple the fiat gateways for convenience of deposit and withdrawal that operation of deposit was as it is possible it is most accelerated for the user. To transfer money with PP, VISA, MC to XEM that was through locks as fast as possible and simply.

Original on Russian here : https://bitcointalk.org/index.php?topic=455591.msg12006329#msg12006329

[patmast3r]

Also Nodes/NIS needs to be booted, this should all be automatic...

It is if you configure it in the settings.

[patmast3r]

Also Nodes/NIS needs to be booted, this should all be automatic...

It is if you configure it in the settings.

I know, but it should already be configured that way...

I agree. Was just trying to help you.

By the way...NEM is still looking for capable front-end devs to work on NCC.
Experience with ractive encouraged but not necessary.

It's all open-source so anyone can give it a shot before taking up the job
Either check it out here https://github.com/NewEconomyMovement/NemCommunityClient or even simpler download the standalone client from http://nem.io/install.html and check the ncc/web folder.

[jabo38]

Also Nodes/NIS needs to be booted, this should all be automatic...

It is if you configure it in the settings.

I know, but it should already be configured that way...

I agree. Was just trying to help you.

okay, thanks anyway 

Hahahaha.  Pat beat me to it.  And I agree it should be set that way automatically, and in the future when things get streamlined later, that can be a real possibility. 

I have a question already, in the wallet, next to your wallet name there is a picture of a grey person if you know what I mean, it'd be cool if you could upload your own picture to your wallet. Another thing that I believe is necessary is that the people within the network can freely interact with each other from inside the wallet. I want to build a network already but there is no instant messaging system implemented into the wallet yet? Will that be a feature that the devs are working on? I think it's absolutely necessary, after all NEM has aspirations to become a full economic eco-system...

not sure about a picture, though I guess a small one could be done.  It might be possible to host pics on third party servers and links on the blockchain so you can see a pic of the person in your address book, but that would be a year away I guess.  Lots of things to do before then.

About the messenger feature.  It has been discussed a few time on Telegram.  And since the wallet is open source and supports plug-ins, I'm pretty sure a competent NCC dev could do it.  But we really need a good NCC dev, not just for that but for other things.  Right now Gimre does most of the NCC work, but it is taking time away from other NIS based coding that would really be much better for him to be working on.  He has a lot of good ideas, and the skill to follow through so if we could give him more time and less distractions, it would be pretty awesome. 

[jabo38]

Also Nodes/NIS needs to be booted, this should all be automatic...

It is if you configure it in the settings.

I know, but it should already be configured that way...

I agree. Was just trying to help you.

okay, thanks anyway 

Hahahaha.  Pat beat me to it.  And I agree it should be set that way automatically, and in the future when things get streamlined later, that can be a real possibility. 

I have a question already, in the wallet, next to your wallet name there is a picture of a grey person if you know what I mean, it'd be cool if you could upload your own picture to your wallet. Another thing that I believe is necessary is that the people within the network can freely interact with each other from inside the wallet. I want to build a network already but there is no instant messaging system implemented into the wallet yet? Will that be a feature that the devs are working on? I think it's absolutely necessary, after all NEM has aspirations to become a full economic eco-system...

not sure about a picture, though I guess a small one could be done.  It might be possible to host pics on third party servers and links on the blockchain so you can see a pic of the person in your address book, but that would be a year away I guess.  Lots of things to do before then.

About the messenger feature.  It has been discussed a few time on Telegram.  And since the wallet is open source and supports plug-ins, I'm pretty sure a competent NCC dev could do it.  But we really need a good NCC dev, not just for that but for other things.  Right now Gimre does most of the NCC work, but it is taking time away from other NIS based coding that would really be much better for him to be working on.  He has a lot of good ideas, and the skill to follow through so if we could give him more time and less distractions, it would be pretty awesome. 

Thanks, maybe it's a good idea to make NEM a legitimate company with a headquarters with full-time staff and create a global financial eco-system parallel to our current fiat one.

Well, I think that the plan is to make the first blockchain foundation that doesn't suck.  It should be a DAO and it can be done.  There are lots of examples, just not in crypto.  But we need some more features on our blockchain to do that. 

[jabo38]

This is exactly right. "These are still early days."

PayPal processes $240 billion worth of transactions a year and has a marketcap of $45 billion. https://finance.yahoo.com/q?s=PYPL
Visa processes $4.8 trillion worth of transactions a year and has a marketcap of $181 billion. https://finance.yahoo.com/q?s=V

A $9 billion marketcap is nothing for a technology that will most likely compete with all current financial institutions.

Bitcoin has first-mover advantage and is the top brand, but NEM will have second-mover advantage being more efficient and feature-rich.

Bitcoin
-Has inflation (14,437,800 btc in circulation, that leaves 6,562,200 btc still left to mine). https://blockchain.info/charts/total-bitcoins   https://en.bitcoin.it/wiki/Controlled_supply
-Energy hog Proof-of-Work block reward algorithm. (PoW a.k.a. Proof-of-Waste)
-PoW mining causes monetary inflation.
-Slow 10 minute transaction confirmation.
-Poor initial distribution.
-No asset exchange.

NEM
+Zero inflation (fixed supply, all 9 billion coins released at launch).
+Energy efficient Proof-of-Importance block reward algorithm. (PoI is environmentally friendly and rewards only the most active nodes.)
+PoI harvesting, no monetary inflation, coins are earned solely from transaction fees.
+Fast 1 minute transaction confirmation.
+Relatively large egalitarian distribution.
+Delegated harvesting.
+Encrypted messaging.
+m-of-n Multi-signature.
+Eigentrust++ peer reputation management.
+One-click install client.
+Ninja releases!  
future:
  +Business rules.
  +Decentralized asset exchange.
  +Mobile wallet for Android and IOS.
  +...

NEM is built 100% from scratch (not a fork of Bitcoin or Nxt). The devs engineered NEM for the future with 9 billion* XEM.
*actually 8,999,999,999 XEM (Burning 1 XEM gave us that "fortunate" eight at the beginning.)

Estimated population, based on current growth trends, to reach 9 billion in 2040.  https://en.wikipedia.org/wiki/Projections_of_population_growth
World population to exceed 9 billion by 2050.  http://www.un.org/esa/population/publications/wpp2008/pressrelease.pdf

Bitcoin: 21 million/1 satoshi = 2.1 quadrillion units.
NEM: 9 billion/0.000001 = 9 quadrillion units.

The unregulated derivatives market is ~$1.5 quadrillion dollars. http://moneymorning.com/2014/10/01/taking-profits-in-a-1-5-quadrillion-bubble/

NEM is designed to accommodate our entire global economy.



NEM has great potential. In the future I can easily see 1 XEM being valued at 1 fiat dollar.

Nice summary someone needs to make an infographic out of this ...

That is a very good summary. 

I would love to see it become an infographic, and I could even add a few more nice things about NEM.

If somebody is has the ability to make nice infographics, I will pay them 100,000 XEM bounty out of my own wallet. 

bumping this

[evi_stale]

FORK AHEAD - PLEASE UPDATE YOUR WALLETS/NODES to 0.6.42 or 0.6.43


The following public nodes need to be updated as soon as possible

52.24.xx.xx:7890      Winner, front line winner!    
52.24.xx.xx:7890      Arrakis    
52.28.xx.xx:7890      Nem Of Glory 1
52.17.xx.xx:7890      try 2 micro    
52.74.xx.xx:7890      3 kings on hill    
37.120.xx.xx:7890  NCVX7HCMRP      
212.18.xx.xx:7890  none    
82.22.xx.xx:7890      NACVZPXP5O    
5.45.xx.xx:7890      NCZX6QLN7S    
91.214.xx.xx:7890  PC    
46.28.xx.xx:7890      rigel3    
185.58.xx.xx:7890  20 slots for free    
87.159.xx.xx:7890  koks und nutten      
52.24.xx.xx:7890      NEMland      
104.156.xx.xx:7890 NEM in da house    
104.156.xx.xx:7890 è‡³èª     
108.61.xx.xx:7890   NEMly NEM    
45.63.xx.xx:7890       Longest Wang    
45.63.xx.xx:7890       NEM is awesome!      
104.156.xx.xx:7890 KevinVPS      
213.229.xx.xx:7890 NemNode      
104.236.xx.xx:7890 XEMEX         
103.229.xx.xx:7890 pvknem009    
24.64.xx.xx:7890       NB4YACODTX    
104.131.xx.xx:7890 potato node

[rigel]

FORK AHEAD - PLEASE UPDATE YOUR WALLETS/NODES to 0.6.42 or 0.6.43


The following public nodes need to be updated as soon as possible

...
46.28.xx.xx:7890      rigel3
...

I will next Monday.

Why that hurrying? The fork will not happen before a couple of weeks.

[megashira1]

Ok, so I deleted my old NEM wallet as a result of reinstalling the software. Everything works fine now. How do I retreive my old wallet without having to create a new wallet and re-importing my private key?

If you made back up of your wallet go to C://users/your user name/Nem/ncc/and paste your back up file there

Ok, so I did that.. Now I get the message

"ERROR 123 NIS: ADDRESS BOOK COULD NOT BE READ"

[samysamy1]

Ok, so I deleted my old NEM wallet as a result of reinstalling the software. Everything works fine now. How do I retreive my old wallet without having to create a new wallet and re-importing my private key?

If you made back up of your wallet go to C://users/your user name/Nem/ncc/and paste your back up file there

Ok, so I did that.. Now I get the message

"ERROR 123 NIS: ADDRESS BOOK COULD NOT BE READ"

Just use your private key, that's much quicker