Can someone please tell me how Mijin's partnership with Microsoft and Japanese banks will benefit NEM holders and stakers?
Why has the NEM foundation/team never ever addressed this? It's good hearing about all the cool stuff Mijin is doing but does it bring any benefit to NEM and its holders. Yes, cross-chain functions using NEM, etc, I've heard that, but is that a reality? We are seeing profitable uses going to Mijin, but what is to keep NEM Foundation from using Mijin for all or most profitable ventures and leaving NEM holders behind with a million charity and public facing PR projects? Sorry for not letting go of this bone but I'm considering a large investment in NEM and I need to lay this nagging issue to rest first. Past questions about this have brought forth some serious areas of concern that are never addressed in a solid manner considering how much money is at play from NEM investors here. Stellar does not have this issue and it's a toss up between the two right now even though I prefer NEM if it weren't for Mijin. Is there a list somewhere of what projects are on NEM vs Mijin and what the ventures entail in terms of profit/returns. Please help. I would be great if a NEM foundation member would do an AMA about this.
This is my first contribution to the CryptoCurrency, and as already been commented it's too long, you can scroll down to the MAIN PART, so, please comment about changes you would make to it or just your opinion in general. Thanks Remember Nash equilibrium, Gresham's law, the rules of the Stasi? So the banking system is similar to the Stasi. But that's not the topic. Why did crypto currency become currency in general? The Nobel laureate in economics would have answered something like this: "At some point in time, the market fell into Nash's equilibrium, where everyone suddenly agreed that counting bitcoin as a currency is normal." Why do men wear trousers, and women wear skirts? Historically, in Scotland it wasn't done that way. It's just that at some point everyone agreed that this should be so. Nash equilibrium. Generally ... What is the currency? A currency is a means of indirect exchange. Once the means of exchange were the feathers of a pheasant, which before that did not cost anything. But then the demand arose and people said: "The feather will be a currency, a means of indirect exchange." Gradually, the general requirements for currency were formed: it should be simply divided into parts, and its value does not change; It is easy to carry around; And it should have a long shelf life. Well and the main thing - people should be ready to use currency as a means of exchange. With the crypto currency the same thing happened: people were READY to use it. Now I'm ready to exchange my phone for bitcoin. It is clear that all other criteria for crypto currency is, perhaps, even better than any other currency (it is much easier to store, transfer, divide, and it is eternal). And why there was a crypto currency? One of the main reasons, in my opinion - is the huge embitterment of people on the banking system with all of its rules, which are being promoted under the auspices of a mythical struggle against scammers and other scoundrels. So, the current banking system is similar to the Stasi, to which I must explain why I have such a gait, and not another, and why I go to work such a route, and not another. And then, unless two-meter fences stop real criminals? When criminals need to break into the banking system, they just buy a bank. All these safety rules are, in fact, useless. Therefore, there is a global irritation of people by the banking system. This can be seen everywhere - and in business of any size, too, from small to large. The annoyance created a request for some kind of analogue to the current system. There was a crypto currency. And the process can not be stopped - the crypto currency will take its place in the world economy. What a question for now. The problem is that in fact, the crypto currency is not used today precisely as a means of exchange. The phenomenon is called the Gresham's law: no one wants to pay with the currency, which constantly and strongly becomes more expensive. Everyone has heard a story with two pizzas that were bought for 10 thousand BTC in 2010 (just curious if pizza shop kept those bitcoins until today). Who wants a pizza for $ 15 million? Or do you want to drive in a Toyota car, bought today for 30 BTC, after learning in a year that they paid $3 million for it? Therefore, the crypto currency is used as a means of accumulation and speculation. At the same time, the process of continuous growth leads to the fact that basic crypto-currencies lose their properties as a means of settlement - stability. They turn into the semblance of shares of a rapidly growing company. And who wants to sell or change the goods and services of treasuring shares today, if tomorrow they will cost more. This is problem. Stablecoin The volatility of the crypto currency is the subject of long-standing discussions, in which the words "bubble" and "speculative instrument" can often be heard. The problem is solved including the launch of special settlement crypto-currencies, the so-called "stablecoins". This is a crypto currency, the value of which is determined not only by the demand for it, but also by more established methods. In the world there were several attempts to create such stablecoins. As a rule, they were tied to either the value of the fiat currencies - the dollar, the euro - or raw materials (commododis) - oil, gold, and so on. But due to various reasons, they were not widely used. First of all, because the creators of such currencies violated the principle of blockchain - distribution and independence. They issued crypto currency, they sold it, and they bought security on the proceeds. And the fact that the security was stored and controlled by the release organizers did not inspire confidence in the community. Now there are more advanced projects. In general, there is a hypothesis that the future is behind the "stable", tied to commododes. It is based on the fact that in the society in general and in the economy in particular, the so-called fatigue of the material of the classical unsecured money. At the same time, we see that the same dollar, euro, yuan, Brazilian real and all other classical currencies are also subject to volatility. And all this against the backdrop of a global rise in the cost of money. The economy is looking for alternatives. But will the social request for a block of commodities be critically higher than for classical money? I am not sure. But the fact that it will be more than now - most likely. Right now, there are several interesting stablecoin projects in the world: There is a project Tether, which stably enters the TOP-50 on capitalization (just over $300 million). Tether is the dollar's coin, 1 to 1. In Israel, they launched a start-up, which tries to make a crypto currency, tied to oil. In fact, they are not yet very successful, because they can not solve the problem of oil storage - it is difficult to store. There are projects that try to link the crypto currency to computing power, to electricity, such as SONM. You can easily explain to your mother about the crypto currency, tied to gold. I have not talked about the main (yet) and most obvious commodity - gold. Gold is a commodity that everyone understands. Gold accounts for about 5-10% of the global investment market. Gold is a natural limited natural resource. According to open data, the gold reserves of governments are about 30 thousand tons, and about the same in the hands of citizens. Total about 60 thousand tons. About 3 thousand tons of gold is extracted every year. This is a stable figure that can not change dramatically in any direction due to distributed production in different countries and established technologies. Therefore, the value of gold, expressed in goods and services, practically does not change. All this makes gold the ideal equivalent of calculation. Actually, it was so throughout the history of human development. Even the first money was tied to gold until governments decided to replace the gold mining process with a simpler process of printing paper money. Well, the main thing: you easily explain to your mother about the crypto-currency, tied to gold. And she will understand you. Now there are several "golden" crypto projects. There are not so many, but everyone has a different concept: Impressive is the OneGram project from Dubai, which plans to raise $ 500 million for the ICO, which began on May 27 and which should end on September 24. For today, 22% of 12,400,786 tokens sold at $ 43.18 apiece are sold. "Dubai" and "gold" sounds somehow impressive, you must agree. OneGram is tied to the stored physical gold. They have a content, strange, in my opinion, a counter: they position themselves as a project for Muslims. In the world of blockade, any artificial limitation causes questions, because it contradicts the very concept of technology. True, according to the founders themselves, now most of the investors of the project are not Muslims. Still there is a project of the British Royal Mint - Royal Mint Gold, in which one token is tied to one gram of gold. The project raises questions from the point of view of decentralization. Another ambitious project is the American-Australian OZCoin. It is provided with 100 thousand ounces (slightly more than 2.8 tons) of gold at 24 carats. Also, there is a "Russian" Goldmint. I took the "Russian" in quotes, because it has international team. The project plans to hold ICO in September, and in May held pre ICO and collected for a couple of days $600 thousand. Imagine that there is an ingot of gold that is able to be transported quickly and cost-free to anywhere in the world without a chance of being stolen. Usually verification of the team removes 9/10 of the risk - the probability of "scam" or some illegal actions is equated to zero. I always say that Whitepaper, the business plan in the ICO world is secondary to the team. It does not matter what you do, but who you are. If tomorrow Elon Musk will grow cows, then investors will believe in his project. Overview of TOP-15 crypto-currency Now about the crypto currency in general. On the Internet, you can easily find sites where you can see the capitalization of each crypto currency, which is drawn at the crypto-exchange, its current price in dollars, the schedule of price changes, the amount of currency that is traded on the market. Such statistics will help a little to understand the beginning investors, but give at least a general idea of what is happening. I will briefly talk about several crypto-currencies in the TOP-50 on capitalization: what are their essence, advantages and disadvantages. And despite the fact that in many of them I invested money, I will not give any specific advice on investment here. MAIN PART
The analogy from the real world is gold. This currency appeared first on the market, and therefore occupies (so far) the first place in terms of popularity, capitalization and exchange rate relative to the dollar. All other currencies, which appeared later, began to be called altcoins, and bitcoin is still a benchmark, from which all are repelled. Bitcoin is a crypto currency that can only be sent, received and stored. In doing so, it has many disadvantages inherent in the architecture itself: it is slow, difficult to scale, requires a lot of power for mining, a lot of storage space, transactions are expensive, and cryptography can be hacked if desired. Here are the cons: Bitcoin is slow, means that transactions in bitcoin occur every 10 minutes. To confirm the transaction, you need to mine, and this is a very energy-intensive process. To increase the number of users (scalability), you need to increase the computing power of computers. Bitcoin was not such a decentralized system, as it was announced at the very beginning. Theoretically, the miners can unite into huge pools and manage the network. The maximum number of bitcoins that can be released is 21 million. To date, they have already produced 16.75 million. What will happen when the total volume reaches the limit? Obviously, there will be a so-called hardfork, when it will be decided to create a new version of the bitcoin-network. This means a big vote, if you want - holding a referendum among the holders of the bitcoins. The Chinese holders of the Crypto-currency were in favor of holding such a referendum already in September. After him, perhaps, the "constitution" of bitcoin will change. And we know how constitutions change easily and quickly in different countries ...
An analogy from the real world is the new Microsoft. "Ether" begins to press bitcoin in terms of popularity. Probably, this currency has more prospects. If bitcoin can act only as a means of exchange and storage, then Ethereum has a number of advantages. The main thing is the ability to create smart contracts. Now, this platform is the most popular in the world in the construction of the block economy, and is used with numerous ICO. Ethereum inherited almost all the diseases of bitcoin. Yes, it's faster - it updates every 10 seconds (that is 60 times faster), but it has the same scaling problems (the recent case with SONM is an example), power consumption and storage. It may well challenge the leadership of bitcoin in the near future.
An analogy from the real world is the new VISA. The project team is trying to make a new payment system so that it can make payments in all currencies. The advantage of this currency is that it is used by banks. However, it is not decentralized. Coins can not be mined, therefore, their number does not increase. Ripple has a huge speed advantage over BTC and ETH, but the operations are not so transparent. For the classical banking system, this is normal - there anonymity has never been welcomed.
An analogy from the real world is platinum, which is cheaper than gold. Absolute analog of the bitcoin. Faster, better in all respects - but just turned out to be the second. But it is worth it in terms of diversifying investment in the same bitcoin. However, there is nothing from the point of view of innovation.
The analogy from the real world is Alibaba (not Amazon). Alibaba - the largest online store with a multi-billion dollar turnover. But still understand that it is still not as steep as Amazon. Classic may even be more expensive than regular Ethereum, but there are some nuances. ETC appeared after the Ethereum hardfork, which occurred last fall, and still does not cause trust in the crypto community. The main attention is still paid to ETH, and all the iconic projects are being conducted on this platform.
Dash and NEM
The analogy from the real world is "not clear who." Honestly, I do not often see these currencies. NEM is mainly drawn in Japan, where it is officially allowed to buy and sell goods for crypto currency. The number of coins is always one less than 9 billion, additional emission is not provided, so there is no mining, but there is a so-called harvesting. A major jump in the NEM course occurred in May, when a closed Mijin platform was created on the basis of NEM, through which Japanese banks can conduct secure transactions. NEM is built on the example of bitcoin, but there are no fundamental differences in architecture. Dash - crypto currency, whose transactions are completely anonymous. Many people talk about this as an advantage, but think: why does an ordinary person have complete anonymity in transactions? Still, all decisions about changes in the "constitution" take place with the help of a general vote, that is, the Dash-network is completely decentralized. Naturally, both currencies work faster than a bitcoin and have a number of software advantages.
An analogy from the real world is the new Google. A real innovation in the world of crypto currency. It offers a fundamentally new paradigm that can change everything at all. IOTA is also called the "crypto currency of things". It appeared five years ago, but it has become popular just now. As soon as it entered the stock exchange, it immediately burst into the Top 10 crypto-currency. How does bitcoin work? In order to perform a bitcoin transaction, the miner must do some work to confirm the transaction. Spend time, huge amounts of energy and allocate space for storage. In the case of IOTA, you can independently confirm the transaction with your device - for example, a regular phone. Your smartphone confirms two other transactions. Those transactions are confirmed by other two. And so on. The more users, the faster and better the network. Now IOTA users have accumulated a critical mass and the currency has become very popular. There is no limit to scalability, no miners are needed, so transactions are free. You do not need to pay a commission to the miners, you do not spend computing power. In general, this is a real bomb that threatens to make a revolution. IOTA solves all problems inherent in bitcoin (limited, high demands on computing power, pseudo-decentralization, data growth and storage problem, slow speed).
The analogy from the real world is JFC Sistema. Briefly, unlike bitcoin, Monero emission is not limited, but transactions take up several times more space than bitcoin. But this is not the most interesting. In general, low-cost transactions, good translation speed, good mining.
An analogy from the real world is the Empire State Building. EOS - the evolution of the currency BitShares and Steemit (which, by the way, seriously criticized that does not prevent BitShares from getting close to the top 10 on capitalization). It is based on a breakthrough technology, which can be compared with the appearance of a blockade. In theory, they can replace Ethereum or enter into synergy with it. In terms of technology, the project is better than Ethereum. Developers have created a new language, and now the EOS platform creates an operating system on which it will be possible to build separate applications. The logic is this: all databases, all web programming will be transferred to the block system. New technologies will allow asynchronous launch of different applications, which will seriously increase the speed of the OS based on EOS. The team expects that the whole world will work on EOS. In general, to be honest, this is the world of "Crypt 3.0".
An analogy from the real world - ? A useful tool not to lose on converting, not to depend on the legislation of different countries, taxes and so on. There is also a similar currency Tether, which is tied to the dollar 1 to 1. If you want to sell or buy dollars on the blockchain, you should come here. These are not speculative instruments. (Here you need to understand that BitShares itself as a unit of account is also "floating"). It is used as a currency for collecting commissions for a transaction of a fiat currency. It can be speculated. But if we want to operate with fiat money in the blockchain, we can do it inside the BitShares system). And 5 more crypto-currencies from the top 50 If you look further, in the top 50 crypto-currencies there are a few notable projects. I will list a few.
An analogy from the real world is the stock exchange. It is essentially a stock exchange: an Ethereum platform on which you can exchange different cryptocurrencies (but they all have to be the ERC20 standard - this is the most common Ethereum standard on which most projects are developed). Everything is regulated by smart contracts. This is a new economic tool in the world of blockchain. In fact, they brought the derivatives into the blockchain, which no one had done before. It seems to me that this is a niche product, which, however, can grow 5-10 times.
An analogy from the real world is McDonalds. A good, fashionable currency, I see future in them. Fast, cheap in a transaction, profitable in the mining. It is loved by miners - in other words, market providers like it. And it is like McDonald's - does not belong to anyone. 99.9% of McDonald's shares are traded on the stock exchange, but the largest shareholder owns only 2% of the shares. Decreded as McDonalds.
An analogy from the real world is Netflix. Fantastic project. And by "fantastic" I do not mean "cool", but the original meaning of the word. The business model is incomprehensible, but the team is good. They try to work in the market of events predictions. While the project is in the alpha stage and no real money goes in there, the team really knows how to correctly analyze the data. Aragon can become crypto-Netflix. How they do it - I have no idea. But just to remind you, 7 years ago Netflix was unprofitable.
POLL: Should we create a 'introduction' thread in this subreddit to provide new users with information about NEM?
I feel like 'New website' shouldn't be the first thing users see. It's much more useful to have a concise FAQ section about NEM that users can flick through before exploring further. The pinned announcement about the website makes NEM seem smaller than it is imo. I think we need a 'Newcomers please read' thread similar to Bitcoin subreddit. This would be great to answer any initial questions. https://www.reddit.com/Bitcoin/comments/6jlop4/rbitcoin_faq_newcomers_please_read/ I'm very happy to contribute to it. Would be great to have information about a range of things. Suggested topics How NEM differs from other blockchains The relationship between Mijin and NEM Total supply of tokens, and initial distribution Stakeholders Current and future use cases Harvesting NanoWallet Security tips Please upvote for YES. Please comment if you would like to contribute or if you have suggestions of information that should be included. Attn: Mods - is this something you can help with? I really want to see this community grow and I think this could help!
Most important reason why NEM is by far the best blockchain!
Why I believe NEM could the be perfect blockchain. The reason why I think NEM is superior to BTC, Dash, and Ethereum is this principle of free markets based on value creation. That on the very very long run the long lasting surviving companies will reach optimal value creation for their customers. Eventually creating the optimal sustainable environment for the people and so, there is no need of companies anymore. So on the long run, the companies that are charging fees won't survive. Bitcoin is charging fees. Dash, Ethereum, Litecoin, and many other coins are charging fees. But NEM is different though. I think the developers have been incredibly smart to think very far ahead into the future, and were aware of this concept. And that is maybe why they have choosen Proof of Importance as concept. And that is why they have pre-mined all the coins, so there is no inflation taking away the value of XEMs. I have been stocking up XEMs for the last 2 months. Bought at poloniex and sent it a couple of times to my nano wallet. I have started delegated harvesting around 20 days ago. In this time I have harvested 200 Xems, and incurred transaction fees no more than this amount. This means that using XEMs is actually cost-free. It has a huge edge over ethereum, bitcoin and Dash. Even Ripple with it's minuscule transaction costs can't beat NEM. And not to mention other fronts where NEM is by far superior to Ripple. Like, besides being able to do large numbers of transactions per second between banks (MIJIN), it can also do smart contracts. And best advantage of all over Ripple, is that it is decentralized! Which Ripple isn't. Waiting to hear from CATAPULT!
https://preview.redd.it/mae9pkm76ya21.png?width=700&format=png&auto=webp&s=185dbee1cacb7fa67508f3ba60d83a5ecab879e0 NEM is the world’s first “Smart Asset” blockchain. Built with businesses in mind, NEM is a world class platform designed to offer a streamlined method to maintain a secure ledger of transactions. NEM’s blockchain technology offers the potential to drastically simplify an enormous variety of secure ledger and transaction tracking systems. It provides an adaptable API interface that can be used with any programming language. Designed with modular customization in mind, NEM can be used for almost any application thanks to its “Smart Asset System”. As of October 2017, NEM is the 7th largest cryptocurrency in the world, with a market cap of nearly 2 billion.
History of NEM
NEM was launched on March 31, 2015 with the currency symbol XEM. The code was written in Java from scratch, as opposed to most other cryptocurrencies which were ‘forked’ off of existing codes and then later altered. NEM’s origins date back to January 2014, when an open call for participation in a Bitcointalk forum called for a community-oriented cryptocurrency to be created from the ground up. The project saw 1,500 early investors buying XEM stakes, where 1 stake was equivalent to 2.25 million XEM coins.
What does NEM do?
NEM’s primary function is the implementation of what they call the “Smart Asset System”. In effect, this system gives users the ability to implement a customized blockchain for their own specific “smart contract”. So what exactly does “Smart Asset System” mean? Smart Assets are a way of describing the tools NEM uses to handle business data. “Smart Assets” give you the power to use NEM as if it were a custom blockchain built to handle your assets. The “Smart Asset System” can be broken down into four components:
Addresses: Containers that hold coins, contracts, deeds, or any business records. These are items which are unique and can be updated. These containers could be something simple like a user’s account full of coins, or something more complex like a package to be shipped, a deed to a house, or a document to be notarized.
Mosaics: Custom tokens or other digital items. These could represent something like a coin, or items such as stock shares, reward points or even other currencies.
Namespaces: Web addresses that prove who you are and also give your assets a home. They let you create a unique place to put your assets on the NEM blockchain, thus making your assets unique, easy to use and trustable.
Transactions: Puts your ‘Smart Assets’ into play by allowing you to complete actions such as transferring Mosaics between Addresses or transferring and configuring ownership of Addresses.
NEM has provided a list of potential use cases for their ‘Smart Asset System’. Some uses include: voting, crowdfunding, stock ownership, keeping secure records, loyalty rewards point programs, mobile payments and escrow services. Many of these are large global industries in themselves which highlights just how huge the potential NEM customer base is. As described in NEM’s whitepaper, NEM is designed to be a customizable blockchain-based technology used for business purposes. Because NEM’s software is so adaptable, the potential uses are nearly endless. For example, smart contracts can be used as central ledger software for banks, keeping track of transactions by investment companies, or storing and sending government documents such as birth certificates. Unlike Bitcoin or Litecoin, NEM is not intended to be used as a currency. In addition to the “Smart Asset System”, NEM is one of the most secure and easiest coins to use if you want to create your own coin and offer an ICO to raise funds for a startup. According to NEM:
NEM’s approach is to let developers use a wide range of combinable functionalities which let them build powerful applications based on a closed set of atomic operations, and opens the network to almost any technological combination
Why Use NEM?
NEM Has A Low Transaction Fee of 0.01%
NEM utilizes a new code designed for transaction efficiency. XEM transactions take about 6 seconds to show up and about 20 seconds to confirm. On the other hand, Bitcoin can take up to an hour or more to confirm transactions. Fees to transmit assets via the public blockchain (coins, documents, etc) are very low. Currently the transaction fee is only 0.01%. This means it costs $0.01 to send $100 worth of coins and $0.10 to send $1,000. In comparison, credit cards charge anywhere from 1.5 to 3% and Paypal charges 2.6%. NEM’s 0.01% transaction fee is low even compared to other cryptocurrencies!
NEM Is Very Scalable
NEM is incredibly scalable. Currently NEM has transaction speeds comparable to Bitcoin, however when the planned updates go into effect the network could handle in the hundreds if not thousands of transactions per second. In comparison, Bitcoin is only able to handle 4–5 transactions per second. This has been a huge problem for Bitcoin and is a factor which has led to the Bitcoin currency being split into two (and soon three) different currencies. If NEM isn’t meant to be used as a currency, then why care about trading coins? The truth is: you still need the coins. In future, if companies use NEM software, they will eventually need to send their “Smart Assets” to various places. This will require sending the documents across the public NEM blockchain. Sending documents will require the company to pay a transaction fee, which can only be paid for in XEM (NEM’s coin). In that respect, potential investors could see gains on their investment if companies begin to adopt NEM’s software. Since there is a set number of XEM coins (9 billion), as the demand for these coins increases, so will their value.
NEM Uses Unique Harvesting Methods
For those interested in harvesting some coins for yourself, NEM is one of most lucrative coins around (as opposed to themining processes used by other coins). NEM uses unique methods ofProof of Importance (POI) andDelegated Harvesting to award coins. When a block is harvested, it confirms the transaction in the block, adds it to the blockchain permanently and then rewards the transactions fees from that block to the harvester. A user’s POI determines who actually harvests a block, which is governed by three factors:
The user’s vested stake or if the coins have been in their account for a number of days
The user’s transaction partners or if the users are making transactions with others in the network
The number and size of transactions in the last 30 days
Delegated Harvesting is an efficient way to pool account power without exposing any private keys, which yields some benefits. For instance, your computer doesn’t even have to be running to harvest and harvesting is done automatically for anyone with over 10,000 vested XEM in their accounts. These revolutionary methods implemented by NEM have leveled the playing field and gives power to users, not to hoarders or mining farmers.
What Sets NEM Apart From Other Cryptocurrencies
NEM is 100% traceable
NEM’s traceability is one big differentiating factor. Unlike its competitors such as Monero, there are no ‘private transactions’ on NEM. Although many in the cryptocurrency community consider this a negative, it has some advantages. For one, traceability will allow security features such as buyer and seller protection to be implemented. This is one of the reasons NEM is a very secure coin. To date, there has been no major security issues. NEM also allows businesses to track spending habits, a feature that is useful and may attract more businesses to use it in future.
NEM Uses Less Power
NEM uses 100 times less power than Bitcoin to run a node or harvest. This is why NEM’s transaction fees cost only a fraction of some of its competitors.
NEM Is Not Subject To Inflation
Another great thing about NEM is that all of the coins (8,999,999,999 to be exact) have already been created. This means that there is zero inflation. For most other coins such as Bitcoin or Litecoin, the mining process is still actively putting new coins into circulation, which will lead to some inflation.
NEM Does Not Focus On Retail Use
One thing you do not see NEM focusing on is coin price or retail use. Many cryptocurrencies focus on the coins themselves, but NEM is much more focused on the platform and the development community to try to create new apps for the platform. NEM’s President Lon Wong has stated:
“It Might Be exciting to see quick price gains due to marketing and speculation, but the long term winners will be those with consumer and enterprise adoption”
Competitors and Challenges
NEM has a few big competitors such as Ripple,Factom,Ubiq. Most notable is Ethereum, the 2nd largest cryptocurrency in the world with a current market cap of nearly 30 billion dollars. Compared to its competitors, NEM seems to be a more stable choice for building new applications with support for real business models. Its security and development features allow blockchain entrepreneurs to focus on relevant problems and not technical difficulties. Its learning curve is also much smoother than that of Ethereum. One of the biggest challenges NEM has is getting people to understand what it does. Typically, coins such as Litecoin are designed to be used like fiat currencies. However, XEM coins aren’t meant to be used as currency, but a transactional platform for businesses and developers. Another challenge for NEM is growing the pool of developers who have the knowledge to connect NEM to existing company networks. Luckily, NEM’s API is relatively easy to integrate with legacy networks. They have also been putting a lot of effort into growing a new wave of developers who can support their system. NEM has opened the first blockchain center in Kuala Lumpur, Malaysia. The center is meant to serve as an incubator, accelerator and co-working space. They are clearly dedicated to promoting their product but also supporting the blockchain community as a whole.
Looking at the diverse business functions that NEM can perform, it is clear that there is a large potential customer base. In addition to NEM’s current advantages, NEM plans to release the Catapult software this year which will add even more improvements to its current Mijin software. This will only put NEM further ahead of its competition. Developers at NEM are also actively working to make their product better and better. NEM has an excellent development team, strong community support, a robust blog, good incentives and a solid business plan.
Share prices of Japanese Bitcoin and Blockchain-related Companies Skyrocketing
This is an automatic summary, original reduced by 49%.
The rise in share prices of these 3 companies came after the Japanese Yen rose against the US Dollar to 117.5 Yen per USD during the past few days. The price of the company's shares increased by 300 Yen, to record a high of 1,460 Yen a few hours ago. The company's shares' price closed yesterday at 892 Yens, so today's trading sessions led to a 16.82% increase in the company's market value. Infoteria Corp is a Japanese company that is mainly specialized in the development and marketing of software which is based on extensible markup language XML. On December 11, 2015, the company announced a collaboration with Tech Bureau to formulate an adapter that permits integration between Infoteria and the Japanese blockchain platform Mijin. The company has recently partnered with Bitflyer to add Bitcoin as a payment method on the company's crowd sourcing platform. Share prices of 3 of Japan's top "FinTech" companies soared earlier today on Tokyo's Stock Exchange; Sakura Internet Inc, Infoteria Corp and Real World Co Ltd. As the world continues to explore the greatness of the blockchain technology, we expect to see the value of companies, which are chipping in to this sector, to soar throughout 2016.
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"mijin" is a platform to build a "private" blockchain, which the selected nodes can only participate on the network that is managed by a company. It hastens the velocity to generate the token economy by enabling the publication, distribution and payment of tokens easily and freely done. The goal of Mijin, is to allow financial institutions to reduce infrastructure costs by up to 1000% by 2018. ***** What is Mijin? ***** The father of Bitcoin, Satoshi Nakamoto, bestowed blockchain technology on the world. Mijin is the platform to let anyone set up a blockchain on a peer-to-peer network easily. What is Mijin? Mijin is a private blockchain built using the NEM software. The blockchain is being explored for use in a number of areas of the fintech industry, where companies claim it will reduce the costs of banking by up to 90% while making banking more secure. Mijin is being tested worldwide, but it has a relatively large presence in Japan. The Chief Officer of Microsoft Japan, Mr. Akira Sakakibara commented that the successful demonstration of using Microsoft Azure, ASTERIA WARP and Mijin is being welcomed by him. Mr. Sakakibara also announced: – that Microsoft Japan gave a warm welcome to the private Blockchain’s successful experiment that was demonstrated in microfinance. Mijin is a Japanese-developed open source financial technology (fintech) platform, currently in development, that utilizes blockchain technologies to reduce the costs associated with financial institutional infrastructures. Mijin aims to do this by using a series of redundant cloud-based servers to create a highly impervious fintech network to record and facilitate financial transactions.
How To Mine 1 Bitcoin in 10 Minutes - Blockchain BTC Miner ...
Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain. Mining is done by running extremely powerful computers (known as ASICs) that race against ... Testing mijin's private blockchain network with 5 nodes Stable at 100 transactions / second. mijinのプライベートブロックチェーンを5つのノードでテスト中。 すでに ... In this video we will see: - What is BlockChain - Why blockchain is important - Who is Satoshi Nakamoto - What is bitcoin - Bitcoin with blockchain - Securit... What it really takes to mine a Bitcoin in 10 Minutes. Firstly I'll show you a special free method to mine Bitcoin and send funds directly to your wallet in 1... mijin is the private / permissioned blockchain platform that allows you to build a p2p blockchain network either on cloud servers or any private network. mijin brings you "zero-downtime", "high ...