the sooner NEM can be untied to NXT, the better..
what is happening with NXT right now is another good lesson to learn from.. well first of all the lesson is don't get hacked if you're an exchange and secondly, don't perform a rollback or hardfork for an exchange. it would just blemish the reputation of your coin, ala the great Vericoin bailout of '14.
This wasn't a fault of the coin though. It was the exchange.
This is why it's important nem gets on a number of equally popular exchanges on release. One exchange monopolizing the volumes can go belly up if they make even a simple mistake.
it is possible to set up and run our own multigateway for nxt WE so that people can trade with out worry of a central point of failure. All we need is for nem to support multisig and some to set up the servers then just 3 highly trusted people from nem to host the servers. I think after recent events it would be a very good idea to give people this option straight of the bat.
Do you not have to worry about those servers getting hacked then though and someone siphoning off trades midstream? (disclaimer - I know noting)
3 people will be in control of a server each.. as long as you trust that the 3 members will not collude to steal the funds with in the servers then your coins are safe.. as far as i know, all three servers would need to be hacked simultaneously in order for someone to steal the coins.. its not entirely decentralized, but it is magnitudes safer than traditional exchanges... preferably you get people with a vested interest in the said currency/platform to be in control of the servers.
for example in nxt, its going to be james, the owner of nxthaus (new nxt exchange in the making) and cant remember who else.. the reason these were chosen as the right people is because they all have a huge vested interested in not stealing the coins.. james has coded the damn thing and has a reputation to protect and is also heavily invested in nxt and multigateway assets and therefore has to protect the interests of the buyers of MGW asset.
the owner of nxthaus would never mess with servers as he has a vested interest in being seen as trustworthy, cos if hes not, no one will use his new exchange. the same applies for the other guy ie. high vested interest or is very trustworthy already.
you only have to trust that 2 of the 3 wont collude.. one malicious server maintainer cannot steal the funds alone.. he may be able to fek up multigateway so it stops working but funds cannot be stolen or accounts miscalculated. so even if one entity isnt trust worthy your coins are still safe..
if centralised exchanges used multigateway for their back end stuff, the odds of these hacks stealing millions would not be a concern any longer..
I think the NEM approach is different in this. It works on a "decentralized" but centralized trust. Decentralized means the coins are not stored in one place, i.e., like those 50 million coins that happened to Bter. They remain in the wallets of the users.
Centralized because if a user wants to sell, user will have to go through an exchange. And the exchange is literally an exchange, i.e., it only does matching of trades. It does not store or keep values.
Hence, hacking the exchange only disrupts trades but coins stolen, will be difficult. But this won't happen so soon if the epic projects are not supported.
So, please support our epic projects to make this happen. Visit
http://www.ournem.com/crowdsale