[NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread - page 426.

Jaguar0625

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Quote from: New_Crypto on February 10, 2014, 11:21:02 AM

A newbie here. I just wanna how NEM is different than NXT.

Besides, both seem to be similar xcpt on the fair distribution.

NEM builds on top of the NXT ideas, but it will be based on new code. The development plan has more information about the proposed feature set. But, one of the biggest differences will be around the NEM forging algorithm.

Jaguar0625

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Quote from: patmast3r on February 10, 2014, 11:36:27 AM

Quote from: iruu on February 10, 2014, 11:04:42 AM

Quote

When a new snapshot is confirmed by the blockchain, a special no-fee snapshot transaction will be sent to a special account. New clients can validate the most recent snapshot by using hash attached to the last transaction sent to the special account.

How could that work?
To verify a block (and transaction) in this PoS model, you need the know the effective balance of all accounts at that point in time, which requires full blockchain.
The only alternative in this model is centralization, with pre-defined trusted party with the ability to verify later snapshots by generation of these snapshot transactions.
Is NEM going to be centralized?

I could be wrong but I think that's what server nodes are for. If you look at the plan there are going to be server nodes and client nodes. Server nodes will afaik hold the full blockchain and could therefore be used to verify snapshots.
NEM sure as hell is not going to be centralized

Exactly, server nodes will hold the full blockchain. We envision the snapshotting feature as enabling lightweight clients that do not need to download all transactions. Forgers will most likely be required to run server nodes, but we are still discussing this.

Jaguar0625

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Quote from: TauMuon on February 10, 2014, 10:20:36 AM

A couple of things I think would be good for NEM to have on release:

A fully-functioning, user friendly client/wallet (intuitive and simple GUI).
Introductory guides on how to get hold of NEM for newcomers, in as simple terms as possible.

I think the lack of these two things with NXT's release has hindered it somewhat.

Also, just for clarification: is it acceptable to say that NEM has completely new code, or is that an incorrect statement to make? Just thinking about advertising buzzwords here.

We are planning on having a friendly GUI (still in the design phases for this).
I agree that guides would be helpful and we should work on them once we have a GUI in place.
Yes, NEM will have completely new code.

rigel

legendary

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Thank God I'm an atheist

Quote from: Xpedite on February 10, 2014, 01:42:03 PM

Quote from: opticalcarrier on February 10, 2014, 12:06:53 PM

whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this

I guess I need some more info about this AM thing. What is the practical use of this? Huh

Can someone please explain this to a newbie Wink

I have little knowledge of these extra features of NXT...

It would be nice having a type field in AM and standardize some kind of messages:
0 - cleartext
1 - encrypted with algorithm xxx
2 - encrypted with algorithm yyy
...
Special purpose 1
Special purpose 2
...

We should keep as much flexibility as possible in early stage

Xpedite

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DRAMA: Dumb Retards Asking More Attention

Quote from: opticalcarrier on February 10, 2014, 03:12:01 PM

Quote from: Xpedite on February 10, 2014, 01:42:03 PM

Quote from: opticalcarrier on February 10, 2014, 12:06:53 PM

whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this

I guess I need some more info about this AM thing. What is the practical use of this? Huh

Can someone please explain this to a newbie Wink

I have little knowledge of these extra features of NXT...

Apparently BCNext's plan all along was to build NXT as an extensible infrastructure, kind of like etherium has been, but for different architectures. In the case of NXT, its AM feature is ideal to use for creating brand new crypto coins. CfB is currently working on one such coin but is delayed and has said he would help someone attempting to do the same.

Wouldn't this coin be 100% dependant on NXT infrastructure this way?

patmast3r

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AM: http://www.nxtcrypto.org/nxt-arbitrary-messaging
Doesn't explain much but it's a start. A little more technical detail would be appreciated if anyone knows more.

opticalcarrier

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Quote from: Xpedite on February 10, 2014, 01:42:03 PM

Quote from: opticalcarrier on February 10, 2014, 12:06:53 PM

whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this

I guess I need some more info about this AM thing. What is the practical use of this? Huh

Can someone please explain this to a newbie Wink

I have little knowledge of these extra features of NXT...

Apparently BCNext's plan all along was to build NXT as an extensible infrastructure, kind of like etherium has been, but for different architectures. In the case of NXT, its AM feature is ideal to use for creating brand new crypto coins. CfB is currently working on one such coin but is delayed and has said he would help someone attempting to do the same.

play4ce

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Quote from: patmast3r on February 10, 2014, 02:52:29 PM

Quote from: play4ce on February 10, 2014, 02:38:16 PM

wow, this project seems promising!
looking forward to the release
any dates yet?

Yesterday a dev plan was released however there is no ETA for the release of v1. We're still in the fundraising phase.

allright, thanks!

patmast3r

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Quote from: play4ce on February 10, 2014, 02:38:16 PM

wow, this project seems promising!
looking forward to the release
any dates yet?

Yesterday a dev plan was released however there is no ETA for the release of v1. We're still in the fundraising phase.

play4ce

newbie

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wow, this project seems promising!
looking forward to the release
any dates yet?

utopianfuture

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Internet of Value

Quote from: WildCats on February 10, 2014, 02:04:30 PM

Quote from: utopianfuture on February 10, 2014, 12:58:22 PM

Quote from: opticalcarrier on February 10, 2014, 12:06:53 PM

whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this

Cfb should join (help) NEM since he is one of the early stakeholder (check the list). But NEM would not restrict itself to be a NXT's AM (arbitrary message).

Why not issue honorary stake in NEM to people who deserve it and/or could potentially be helpful? I think we should give BCNext some stakes in NEM because NEM probably wouldn't exist without him. Regardless of what he chooses to do with it, he deserves it and if he decided to be supportive of NEM that would be a very good thing.

Better for people who are able to contribute to have stake then someone who bought a stake in NEM for their Grandma who's not even really interested. I don't know that one stake for CfB would be enough incentive. People like to see those who work hard, take risks, and contribute to be rewarded. Of course probably no distribution is perfect.

Did you see NXT honarary stakes issued for Satoshi Nakamoto, not accounting for authors of multiple crypto class codes bcnext took from ? Open source community is all about borrowing ideas, codes and building upon each others works. That type of progress keeps on going for the benefit of mandkind.
Not that I think bcnext not deserving some NEM, but he could buy in too given 50 million nxt stack he is sitting on.

patmast3r

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Quote from: WildCats on February 10, 2014, 02:04:30 PM

Quote from: utopianfuture on February 10, 2014, 12:58:22 PM

Quote from: opticalcarrier on February 10, 2014, 12:06:53 PM

whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this

Cfb should join (help) NEM since he is one of the early stakeholder (check the list). But NEM would not restrict itself to be a NXT's AM (arbitrary message).

Why not issue honorary stake in NEM to people who deserve it and/or could potentially be helpful? I think we should give BCNext some stakes in NEM because NEM probably wouldn't exist without him. Regardless of what he chooses to do with it, he deserves it and if he decided to be supportive of NEM that would be a very good thing.

Better for people who are able to contribute to have stake then someone who bought a stake in NEM for their Grandma who's not even really interested. I don't know that one stake for CfB would be enough incentive. People like to see those who work hard, take risks, and contribute to be rewarded. Of course probably no distribution is perfect.

BCNext will join NEM if he wants to. If he doesn't no number of stakes will make him. Word is he doesn't really care about the money.

WildCats

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Quote from: utopianfuture on February 10, 2014, 12:58:22 PM

Quote from: opticalcarrier on February 10, 2014, 12:06:53 PM

whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this

Cfb should join (help) NEM since he is one of the early stakeholder (check the list). But NEM would not restrict itself to be a NXT's AM (arbitrary message).

Why not issue honorary stake in NEM to people who deserve it and/or could potentially be helpful? I think we should give BCNext some stakes in NEM because NEM probably wouldn't exist without him. Regardless of what he chooses to do with it, he deserves it and if he decided to be supportive of NEM that would be a very good thing.

Better for people who are able to contribute to have stake then someone who bought a stake in NEM for their Grandma who's not even really interested. I don't know that one stake for CfB would be enough incentive. People like to see those who work hard, take risks, and contribute to be rewarded. Of course probably no distribution is perfect.

patmast3r

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Quote from: TauMuon on February 10, 2014, 01:30:41 PM

Why not just stick to what people are used to?

1 NEM = NEM
0.01 NEM = Penny / cent
1,000 NEM = Grand / Thousand
1,000,000 NEM = Million

I don't understand the need to invent new words when there are perfectly good ones already!

Also, I doubt we'll ever need to go below a 0.01NEM, that'd be worth a very small amount of money.

I'd be fine with that.

Xpedite

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DRAMA: Dumb Retards Asking More Attention

Quote from: opticalcarrier on February 10, 2014, 12:06:53 PM

whatever model we choose - I suggest we try to run it on top of NXT via AM; this architecture is BCNext's actual goal for NXT. CfB has stated he would consult for free for someone attempting this

I guess I need some more info about this AM thing. What is the practical use of this? Huh

Can someone please explain this to a newbie Wink

I have little knowledge of these extra features of NXT...

upekha

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TDTPJR-P5SGXY-UU2OS6-BPTUV4-NJYQFT-6CWYZP-IA2W

.. to make it short n easy:

1mio NIM = 1k NEM = 1 NAM

(could be mistaken for another currency though)

TauMuon

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NEM Enthusiast

Why not just stick to what people are used to?

1 NEM = NEM
0.01 NEM = Penny / cent
1,000 NEM = Grand / Thousand
1,000,000 NEM = Million

I don't understand the need to invent new words when there are perfectly good ones already!

Also, I doubt we'll ever need to go below a 0.01NEM, that'd be worth a very small amount of money.

upekha

full member

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TDTPJR-P5SGXY-UU2OS6-BPTUV4-NJYQFT-6CWYZP-IA2W

Quote from: hamiltino on February 10, 2014, 09:48:57 AM

I'm putting up a forum in a couple hours using really high quality forum software, hopefully we can all mitigate there.

that would be cool!

patmast3r

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We could also go for binary prefixes. I don't really like it but just to throw it out there

1 NEM = 1000 mibiNEM
1000 NEM = 1 kibiNEM

or how about 1 NEM = 1000 ecos ?

It's not exactly mindblowing but I didn't want to ciritize people without actually coming up with at least some suggestions.

upekha

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TDTPJR-P5SGXY-UU2OS6-BPTUV4-NJYQFT-6CWYZP-IA2W

what about:

1 nem = 1000 nemin
1000 nem = 1 nemax

I also like NemBit^^.

Topic: [NEM] NEM -New Economy Movement - No Envy Movement - Updates+Discussion thread - page 426. (Read 661525 times)