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Author Topic: NEM (XEM) Official Thread - 100% New Code - Easy To Use APIs  (Read 2899751 times)
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dalistar
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January 15, 2016, 02:40:35 AM
 #21081

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 ?
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makoto1337
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January 15, 2016, 03:36:38 AM
 #21082

NEM was mentioned in this Tech Crunch article:

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

jabo38
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January 15, 2016, 03:39:48 AM
 #21083

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
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January 15, 2016, 03:40:55 AM
 #21084

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.

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January 15, 2016, 05:10:58 AM
 #21085

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

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nzminer
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January 15, 2016, 07:23:23 AM
 #21086

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.

NEM, THE SECURE, SCALABLE BLOCKCHAIN [NEM.IO] [T.ME/NEMRED]
patmast3r
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January 15, 2016, 07:32:18 AM
 #21087

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.

I think the fake txs that are being sent to reward harvesters right now will prob stop once node rewards are up and running.
Earnings will prob drop a bit then until there are more tx in the network.
Since people running nodes are getting rewards for that and harvesters that are harvesting on 3rd party nodes don't really have to invest anthing it should be fine though...

dalistar
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January 15, 2016, 07:45:15 AM
 #21088

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.

I think the fake txs that are being sent to reward harvesters right now will prob stop once node rewards are up and running.
Earnings will prob drop a bit then until there are more tx in the network.
Since people running nodes are getting rewards for that and harvesters that are harvesting on 3rd party nodes don't really have to invest anthing it should be fine though...


i have my dedicated server online and uptime 99,9 %

i want to know what the reward i can make if i start staking with my dedicated server
patmast3r
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January 15, 2016, 07:51:51 AM
 #21089

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.

I think the fake txs that are being sent to reward harvesters right now will prob stop once node rewards are up and running.
Earnings will prob drop a bit then until there are more tx in the network.
Since people running nodes are getting rewards for that and harvesters that are harvesting on 3rd party nodes don't really have to invest anthing it should be fine though...


i have my dedicated server online and uptime 99,9 %

i want to know what the reward i can make if i start staking with my dedicated server

I'm not sure if any specific amounts have been mentioned yet.
All we knows right now is this https://forum.nem.io/t/nem-supernode-rewards-program/1735
Also afaik it's going to be a lottery so at best people can tell you an average over a period of time.

nzminer
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January 15, 2016, 10:56:48 AM
 #21090

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.

I think the fake txs that are being sent to reward harvesters right now will prob stop once node rewards are up and running.
Earnings will prob drop a bit then until there are more tx in the network.
Since people running nodes are getting rewards for that and harvesters that are harvesting on 3rd party nodes don't really have to invest anthing it should be fine though...

Didnt realise that people were making fake TX to achieve that! lol

Anyway, whats the story with Node rewards?

70K of XEM is quite a large payout, how does it work? It sounds like a lottery in that a random node will get the payout?

I need about another 750K of XEM to run a node.

Other problem is our ISP runs CGNAT, so will this still be possible for me to rub a node?

NEM, THE SECURE, SCALABLE BLOCKCHAIN [NEM.IO] [T.ME/NEMRED]
Thingamajig
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January 15, 2016, 11:03:02 AM
 #21091

An interesting read:

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.tnkeizmi7
Nortan12rx
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January 15, 2016, 11:26:00 AM
 #21092


all were against bitcoin-xt
it would kill bitcoin if it accepted
size of a network would grow with 50gb to 1tr and more Shocked
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January 15, 2016, 11:35:02 AM
Last edit: June 11, 2019, 12:06:36 AM by b1007
 #21093

 Can somebody here tell me how does the transaction capacity of NEM compare to bitcoin?  Huh

I like to speculate
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January 15, 2016, 12:03:12 PM
 #21094

It should make us aware though, that XEM needs to be decoupled from the bitcoin and needs an exchange of its own. A fiat/XEM exchange is necessary, maybe the devs can create like a video concerning the current problems with bitcoin and why XEM as a currency is a much better alternative? Can somebody here tell me how does the transaction capacity of NEM compare to bitcoin?  Huh

NEM currently has 120 transactions per block so this equals out to 2 TPS.
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January 15, 2016, 12:09:23 PM
 #21095

It should make us aware though, that XEM needs to be decoupled from the bitcoin and needs an exchange of its own. A fiat/XEM exchange is necessary, maybe the devs can create like a video concerning the current problems with bitcoin and why XEM as a currency is a much better alternative? Can somebody here tell me how does the transaction capacity of NEM compare to bitcoin?  Huh

NEM currently has 120 transactions per block so this equals out to 2 TPS.


Is that good?

I like to speculate
patmast3r
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January 15, 2016, 12:16:00 PM
 #21096

It should make us aware though, that XEM needs to be decoupled from the bitcoin and needs an exchange of its own. A fiat/XEM exchange is necessary, maybe the devs can create like a video concerning the current problems with bitcoin and why XEM as a currency is a much better alternative? Can somebody here tell me how does the transaction capacity of NEM compare to bitcoin?  Huh

NEM currently has 120 transactions per block so this equals out to 2 TPS.


Is that good?

No but it's more than enough for now.
However that 120 tx is a limitation that is afaik mostly catered to nodes that couldn't handle more during the early beta tests. If nodes were stronger (and they will be due to supernode rewards) NEM could prob do a lot more than 120 per block.

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January 15, 2016, 12:20:13 PM
 #21097

It should make us aware though, that XEM needs to be decoupled from the bitcoin and needs an exchange of its own. A fiat/XEM exchange is necessary, maybe the devs can create like a video concerning the current problems with bitcoin and why XEM as a currency is a much better alternative? Can somebody here tell me how does the transaction capacity of NEM compare to bitcoin?  Huh

NEM currently has 120 transactions per block so this equals out to 2 TPS.


Is that good?

No but it's more than enough for now.
However that 120 tx is a limitation that is afaik mostly catered to nodes that couldn't handle more during the early beta tests. If nodes were stronger (and they will be due to supernode rewards) NEM could prob do a lot more than 120 per block.

hmm okay, but in the future it can be adapted even further right? Not like bitcoin when it reaches its limit it melts down? Huh

I like to speculate
patmast3r
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January 15, 2016, 12:28:20 PM
 #21098

It should make us aware though, that XEM needs to be decoupled from the bitcoin and needs an exchange of its own. A fiat/XEM exchange is necessary, maybe the devs can create like a video concerning the current problems with bitcoin and why XEM as a currency is a much better alternative? Can somebody here tell me how does the transaction capacity of NEM compare to bitcoin?  Huh

NEM currently has 120 transactions per block so this equals out to 2 TPS.


Is that good?

No but it's more than enough for now.
However that 120 tx is a limitation that is afaik mostly catered to nodes that couldn't handle more during the early beta tests. If nodes were stronger (and they will be due to supernode rewards) NEM could prob do a lot more than 120 per block.

hmm okay, but in the future it can be adapted even further right? Not like bitcoin when it reaches its limit it melts down? Huh

Yes the limits can be set higher in the future. I don't think it's a priority for the devs right now though since there just is no demand for it.

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January 15, 2016, 12:32:50 PM
 #21099

It should make us aware though, that XEM needs to be decoupled from the bitcoin and needs an exchange of its own. A fiat/XEM exchange is necessary, maybe the devs can create like a video concerning the current problems with bitcoin and why XEM as a currency is a much better alternative? Can somebody here tell me how does the transaction capacity of NEM compare to bitcoin?  Huh

NEM currently has 120 transactions per block so this equals out to 2 TPS.


Is that good?

No but it's more than enough for now.
However that 120 tx is a limitation that is afaik mostly catered to nodes that couldn't handle more during the early beta tests. If nodes were stronger (and they will be due to supernode rewards) NEM could prob do a lot more than 120 per block.

hmm okay, but in the future it can be adapted even further right? Not like bitcoin when it reaches its limit it melts down? Huh

Yes the limits can be set higher in the future. I don't think it's a priority for the devs right now though since there just is no demand for it.

Not at this point in time indeed, but you can never start soon enough when it comes to anticipating with a project like this. First NEM is going to conquer the Asian economies, and then the world, soooo eventually NEM will need a lot of transaction capacity.  Smiley

I like to speculate
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January 15, 2016, 01:22:01 PM
 #21100



Not at this point in time indeed, but you can never start soon enough when it comes to anticipating with a project like this. First NEM is going to conquer the Asian economies, and then the world, soooo eventually NEM will need a lot of transaction capacity.  Smiley

That's where the devs' experience with Mijin will certainly prove valuable. I'm confident it won't be an issue any time soon ..
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