NEM Scalability

Technical Discussion
#1

In recent times I’ve seen huge scalability issues with other blockchains and have really come to question the ability of the NEM blockchain to scale.

For those in the know, would you please educate me on the scalability of the NEM blockchain.

If we are to reach such a mass adoption, say the likes of Ethereum, what will happen then? Will our network slow down as much as theirs?
Will transaction fees be high when sending funds or making purchases during a time of high traffic?
How about ICO’s created on the NEM blockchain? When sending NEM to an ICO built on the NEM blockchain (I assume this is a mosaic? Please correct me if I’m wrong) to receive that ICO’s tokens, will the network be slow and expensive like the ETH network?

Please excuse me for my ignorance, I’m no tech whiz, far from it in fact, though this all interests me and I see an incredible future for the technology, I have some ideas up my sleeve which I may become reality if I feel the product is valuable and usable on the blockchain. Plus, NEM was my first investment when I joined the cryptoverse last October.

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#2

From what I gather Nem does its work off chain.
So supernodes yeah.
Maybe some more intelligent folk could answer here.
cheers

#3

This is a good point actually.

#4

Scale needs punters

#5

Anyone with the know-how want to help out with answering my questions?

#6

Its basic network.
Nodes supply scalability, supernodes supply the nodes.
So Nem NEEDS SUPERNODE BUYERS.

cHEERS

#7

Current artificial limit for NEM network is 2tx/s (120 transaction in block which is generated per minute). We need to remember this is artificial limit. As far as I know it can be increased to 20-30 tx/s on current version.
For Eth current limit is as far as I know around 15-16tx/s (correct me if I’m wrong). In January 4 it was around 1350000 transactions which I belive was the limit.

So as you can see NEM network is not loaded as Ethereum now. Now we have low limit 2tx/s but it can be increased easly by soft fork. Also after Catapult release limit should be increased even more and allow process more tx/s. In my opinion it will be around 100 or more but it’s speculation from my side because we know only results from private chain tests.

#8

Who can afford a supernode, they’ll have to reduce the quantity of needed XEM to create a supernode to make more resilient network.

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#9

A lot of people can afford one, maybe not you an me, but for bigger explorations, they can afford one.

#10

Agreed