Cool NEM Facts FTW

General Discussion
#1

Let’s write a list of interesting facts about NEM!

  • NEM was built using test-driven development, with over 6000 unit tests
  • NEM is being studied by SBI Sumishin Net Bank in Japan
  • NEM is about empowering people to do more with their lives
  • Dragonfly Fintech is using patent-pending technology to build a new global financial infrastructure using NEM technology
  • Mijin is a private/permissioned blockchain built on NEM technology
  • NEM has the first configurable, blockchain-level multisig (multi-stage verification) system
  • 0.000001 XEM is called a makoto
  • NEM | MEN
  • Nothing Else Matters
  • New Economy Movement
  • Nippon Electronic Money
  • Not Enough Makotos
  • New Exciting Moneymaker!
  • NEM dev team consists of professional software engineers
  • The NEMiversary Day is January 19thーThe January NEMolution!
  • www.github.com/NewEconomyMovement FTW
  • www.nem.io/NEM_techRef.pdf - NEM technical reference
#2
  • Built 100% from scratch (not a fork of any existing project)
  • Built with test-driven development
  • Uses innovative Proof-of-Importance algorithm: first reputation based blockchain algorithm
  • Improves different features of POW and POS coins, being more efficient and environmentally friendly
  • Nodes need not be expensive machines and run independent of the wallet
  • One minute average block times
  • First crypto with delegated harvesting
  • First with localized spam protection
  • First with Eigentrust++ peer reputation management for Nodes
  • First editable m-of-n multisig with blockchain based alerts
  • Offers encrypted, unencrypted and hex messaging
  • Small memory footprint, easy to install, and portable client and server
  • Zero currency inflation (fixed supply, all 9 billion coins released at launch)
  • Has mobile wallet for both iOS and Android (coming soon)
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#3
  • Fastboot thin Client
  • Web Client deployable (i.e., without booting any client)
  • Rich API set
  • High transaction throughput with private chain
#4
  • Assets are called mosaics
  • NEM’s concensus mechanism is called Proof of Importance and was developed to encourage account activity
  • NIS has a built in P2P time synchronisation feature, this ensures independence from an external synchronisation protocol
  • Booting a node means associating it with an account
  • You need at least 10 000 XEM vested to be able to harvest
  • When an account sends XEM, they are taken from both the vested and unvested balance to retain the vested to unvested ratio
  • Every 1440 blocks 10% of unvested XEM are moved to the vested balance
  • Based on recent research about 0.1% of the people that read the technical reference actually understand it, while an estimated 49% pretend they do :smile:
2 Likes
#5

  • NEM consists of 8.999999 Billion XEM

  • Every XEM is a token that grants you access to the NEM Network

  • Duo to the elegant design of NEM it can be easily interconnected with programs, websites and games

  • It is mandatory to have a backup of the private key and the NEM wallet file

  • NEM Lightwallet allows you to to connect to a NIS without downloading the whole blockchain, just connect to a trusted node and transact!

  • When using the Lightwallet it is important for your safety that you just connect to a trusted node

  • NEM Lightwallet can be run from any device that supports JS or HTML

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#6

NEM is a Network Exchange Map
NEM’s first Mosaic was XEM and its first Namespace was NEM.
The Nemesis block happened at 00:06:25 a nod to Jaguar0625.
After announcing it would work with NEM, Sakura Internet’s stock soared from 65 million USD to 340 million USD is less than a month.
NEM’s Wikipedia page was once almost deleted for not having reputable sources.
The Nemesis account is NANEMO-ABLAGR-72AZ2R-V3V4ZH-DCXW25-XQ73O7-OBT5

#7

Nemesis block generation hash is 16ed3d69d3ca67132aace4405aa122e5e041e58741a4364255b15201f5aaf6e4 although it was supposed to be: c5d54f3ed495daec32b4cbba7a44555f9ba83ea068e5f1923e9edb774d207cd8.

The later is 256 sha3 (nem variant == keccak256) of one of the quotes from Nem Technical Reference

Source of the former is undisclosed at this time.

1 Like
Finding xem generation hash (1M reward!)
#8

That must be the long lost egg!

1 Like
Finding xem generation hash (1M reward!)
#10

Rookies easter egg you mean ? :smile:

#11

P.S.
sha3(“If ever I to the moment shall say: Beautiful moment, do not pass away! Then you may forge your chains to bind me,”) == c5d54f3ed495daec32b4cbba7a44555f9ba83ea068e5f1923e9edb774d207cd8

Try it for yourself: https://asecuritysite.com/encryption/sha3

#12