Should I build on NEM if I want to eventually use blockchain based logic in smart contracts

Technical Discussion
#1

I am setting up a project which will need to use a token or asset of some kind and have low transaction fees (which rules out Ethereum in my view).

NEM Mosaics do seem like a good option but eventually I will need to move some control logic into the blockchain and implement smart contracts for certain functions.

Is it in the current roadmap that NEM will include scripted smart contracts recorded in the blockchain. If so what is the timeline?.If not, is there any other way, on NEM, that I can prove to users that the logic presented is exactly the logic which the system will use?

Also, there do not seem to be a lot of projects being launched on NEM. Do you believe that there is an appetite for XEM holders to invest in projects which use NEM mosaics.

#2

There aren’t many details available on catapult but so far as I know, smart contracts á la Ethereum are not on the current nem roadmap.

If you tell us more about the logic it’ll be easier to gauge whether or not nem will support it. Generally speaking though, if you need more logic than what is already on chain (e.g. multi-sig) then you’ll need to do it off-chain, at least if you use nem.

There are projects beign launched on nem, it’s just an amazing lack of communication that’s going on. Ecobit, Dimcoin, Graftnetwork, Landstead, LuxTag,… (icos and projects)

#3

Thanks,

I think the first logic which will need to be held is the question answer model. On a simplistic level a user will ask a question and lock a number of mosaics which will be used to reward expert answers. After a specified time period the questioner will allocate the amounts and then there may be a period of peer reviews. After this the mosaics will be moved according to a specified algorithm.

This can all be covered by internal code but it would be great to have this all managed through inputs to smart contracts.

#4

It may be possible with Catapult’s multi-swap but there is no timeline as to when Catapult will be released on the public chain.
Right now, I don’t think you can do this on nem without having some logic off-chain. Depending on what “specific algorithm” means, it might not be possible on any chain but you’d certainly get a lot further with Ethereum.

#5

This is totally legit and logical question to which I would also like to know the answer.

NEM is good technology for business run by centralized entities (banks, corporations and other types of businesses) which operate withing the boundaries of legal law.

So the quesiton is again does this blockain tech chages someting if we are left agian
at the mercy of the rules and regulations of the greater powers which in essence are corrupt.

Acctually we are left to trust them (companies) based on the name and the promise that they give us
and there is not a way to review the wokflow logic.

Technically speaking regarding ethereum contracts on blockchain they can be reviewed and tested but anyway dangerous.
Do not forget that due to a contract that is immutable which could be flawed and not properly tested greater shit could happens.
Rember the eraly days of ethereum when developers stated “code is law” and they broke that own law by making a fork due to the DAO hack.
And after that there were more hacks but the ethereum developers have not made more forks.

So I’m not sure about this issue, could be that the solluton lies somwhere in between and I hope NEM developers can find one.