What is NEM - Reading assignment


#23
  1. Smart assets are like ethereum tokens but do a little less.
  2. NEM uses “proof of importance” which rewards nodes that hold a large amount of XEM and who also use the currency by making transactions. Nodes with higher rep can collect fees more easily than those who have lesser rep. Rep is built up over time as the XEM held ages and there is a short boost when transactions are sent.
  3. Catapult is the C++ source code project of NEM which will take the system from a couple hundred transactions per second to nearly 4000.

#24
  1. What are smart assets?
    it’s something like Ethereum tokens but easier to create
  2. What consensus algorithm is used by NEM and how does it work?
    proof of importance,
    if you own 10% of crypto, you will be able to mine 10% of block on the network
  3. What is catapult?
    rewriting of the source code of nem from jave to c++

#25

What are smart assets?
Assets are sort of like Ethereum tokens, but easier to create.

What consensus algorithm is used by NEM and how does it work?
It’s called Proof of Importance (PoI), which rewards nodes hold a large amount of XEM (the currency of NEM) and those that use the currency by making transactions. Nodes that have a higher reputation are able to “harvest” transactions fees more often than those with lower reputations. A node’s reputation is built up over time as the coins they hold “age”. Sending transactions on the network also gives a short-term boost to reputation.

What is catapult?
A complete rewrite of its source code from Java to C++.


#26
  1. What are smart assets?
  • a easily established token
  1. What consensus algorithm is used by NEM and how does it work?
  • proof of importance, rewards nodes hold a large amount of XEM (the currency of NEM) and those that use the currency by making transactions. Nodes that have a higher reputation are able to “harvest” transactions fees more often than those with lower reputations. A node’s reputation is built up over time as the coins they hold “age”.
  1. What is catapult?
  • To increase scalability and make itself more attractive to customers, NEM undertook a complete rewrite of its source code from Java to C++. Codenamed Catapult

#27

1- Smart Assets are sort of like Ethereum tokens, but easier to create. You can’t do as much with a NEM Smart Asset as you could with an Ethereum Smart Contract, but NEM Smart Assets are far more “click some buttons and deploy” than an Ethereum Smart Contract.

2- NEM has an interesting reputation-based blockchain consensus algorithm called Proof of Importance (PoI), which rewards nodes hold a large amount of XEM (the currency of NEM) and those that use the currency by making transactions. Nodes that have a higher reputation are able to “harvest” transactions fees more often than those with lower reputations. A node’s reputation is built up over time as the coins they hold “age”. Sending transactions on the network also gives a short-term boost to reputation.

3- To increase scalability and make itself more attractive to customers, NEM undertook a complete rewrite of its source code from Java to C++. Codenamed Catapult, this effort has seen the number of transactions per second the system is capable of growing from several hundred per second to nearly 4,000 per second.


#28

1.What are smart assets?
A smart asset on the NEM blockchain is similar to an Ethereum token. There is however a trade-off. NEM Smart Assets are easier to deploy, and one pays lesser fees, but is not as flexible as compared to an Ethereum smart contract.

2.What consensus algorithm is used by NEM and how does it work?
NEM’s consensus algorithm is known as Proof of Importance (POI), where the supernodes, also known as harvesters, are incentivised to maintain the network. All XEM coins were launched to members, who then distributed it to the community. Every time a transaction happens, the supernodes “harvests” the fees.

3.What is catapult?
Catapult was rewriting NEM’s source code from Java to C++, in an effort to increase scalability (it has grown the number of transactions from several hundred per second to 4,000 per second) and attract customers.


#29
  1. Smart Assets are similar to Etherem Smart contracts but easier to create and deploy according to NEM.
  2. The NEM consensus to reward block producers and NEM users is based on those individuals or companies holding or using their XEM token the most. Basically, an entity holding more than 10,000XEM token and wish to maintain the blockchain will get reworded by getting paid with the transaction fees. And entities using the XEM the most will also get rewarded.
  3. Catapult is the new rewrite of the code upon which NEM is running from Java to C++.

#30
  1. What are smart assets?
    They are applications over the NEM’s blockchain equivalent to tokens over Ethereum but with many substantial differencies

  2. What consensus algorithm is used by NEM and how does it work?
    NEM uses a kind of algorithm called Proof Of Importance POI and is based in reputation blockchain concensus. It means that a node with more amounts of XEM and more transactions they make, more reputation it’ll have and it will be able to earn more by harvesting

  3. What is catapult?
    Catapult is a refactor of NEM’s core from Java to C++ for increasing the performance of the transactions per second to several hundreds even thousands


#31
  1. Smart assets are similar to Ethereum tokens. They do not require gas fees or having to write code however. They are also easier to create.

  2. The consensus algorithm is Proof of Importance (PoI). It rewards nodes that hold a large amount of XEM and also nodes that hold the XEM for a longer period of time. Those that have higher “reputation” receive more transaction fees than a node with lower reputation. The concept of supernodes is also present – where nodes that hold a large amount of XEM take part in consensus on the network.

  3. Catapult is an ongoing rewrite of the NEM source code. The switch is from Java to C++ and is intended to increase transactions per second from hundreds to 4,000.


#32
  1. They are tokens similar that eth without gas spending
  2. PoI (Proof of Importance) which rewards nodes hold a large amount of XEM and those that use the currency by making transactions
  3. NEM undertook a complete rewrite of its source code from Java to C++. it is capable of growing from several hundred per second to nearly 4,000 per second

#33
  • What are smart assets?
    these digital tokens are similar to ethereum erc20 tokens, but easier to create, and both are used for different types of functionality.

  • What consensus algorithm is used by NEM and how does it work?
    NEM has has a reputation-bases blockchain algorithm called prof of importance(pol).
    nodes that hold a higher reputations are able harvest transactions more often than those with lower reputation.A node’s reputation is built up over time as the coins they hold “age”. Sending transactions on the network also gives a short-term boost to reputation.

  • What is catapult?
    codenamed catapult, this was done to increase scalability, added functionality and make NEM more attractive to customers, NEM rewrote its entire source code from java to c++.


#34

What are smart assets? Assets similar to Ethereum ERC-20 tokens
What consensus algorithm is used by NEM and how does it work? Reputation built consensus called Proof of importance which is basically a proof of stake combined with an earned reputaion.
What is catapult? A rewrite of the NEM core code using C++ instead of Java which (in tests) has dramatically increased TPS.


#35
  1. Smart assets are the tokens of NEM - though different than ethereum tokens.
  2. Proof of Importance uses transaction-based reputation to prioritize the allocation of block rewards. Seemingly, it gamifies the NEM economy so that the currency doesn’t become stagnant with hodling, etc.
  3. Catapult is the project name for the NEM overhaul from Java to C++, which increased the transaction throughput drastically.

#36

1. What are smart assets?
These are like eth tokens but easier to create and less functionality as the eth smart contracts.

2. What consensus algorithm is used by NEM and how does it work?
The consensus algorithm is “PoI” Proof of importance. It works with a reputation based valuation.
The backbone of the network uses supernodes that are very expensive to run since you need a lot of tokens for this. Supernodes processes the transactions and gets rewards from fees. A smaller user can stake it’s coins with a supernode (at least 10k) and can get a piece of the fees as a result. The longer the tokens are inside, the more reputation it gets and the more chance it gets to earn from fees.

3. What is catapult?
Catapult is the codename of the project to rewrite java source code to c++ code. Increasing the performance dramatically.


#37
  1. What are smart assets?
    Digital Tokens are comparable with ERC20 tokens from ETH. Smart Assets have limited functionality but are easier to deploy.

  2. What consensus algorithm is used by NEM and how does it work?
    Proof of Importance, which is a reputation-based consensus algorithm that promotes holding and using NEM tokens. The Blocks are created by Supernodes (masternodes) which require 3M nem to be created. From 10k nem onwards you can become a delegate in a Supernode.

  3. What is catapult?
    A complete rebuilt from the NEM source code from Java to C++.


#38
  1. Smart assets are like Ethereum tokens, though apparently easier to create. These smart assets are stored on the NEM blockchain.

  2. NEM uses a consensus algorithm called “Proof of Importance,” which rewards nodes based on the amount of XEM (the currency of NEM) they hold and how often they use XEM to transact. Nodes with higher importance scores have a higher chance of “harvesting” transaction fees.

  3. To increase scalability and make itself more attractive to customers, NEM undertook a complete rewrite of its source code from Java to C++. Codenamed Catapult


#39
  1. What are smart assets? Smart assets can be used to represent things of value, as in a tokens in Ethereum. They could be simple things, like coins or signatures, or addresses that contain mosaics to represent a user or individual unique assets. Creating smart assets in NEM is easier than Ethereum tokens.
  2. What consensus algorithm is used by NEM and how does it work? NEM uses Proof of Importance (PoI), which rewards nodes holding large amounts of XEM currency, and those that use the currency by making transactions. It is reputation-based, where reputation builds up over time.
  3. What is catapult? Catapult is a rewrite of the NEM source code from Java to C++, which increased the throughput of transactions in the system.

#40
  1. What are smart assets?

Smart Assets allow you to define an asset similar to a Ethereum token.

  1. What consensus algorithm is used by NEM and how does it work?

Proof of Importance (PoI). Incentivizes active participation in the network by assigning an importance score to each node, which determines how often that node can harvest the XEM token.

  1. What is catapult?

A codename for the complete rewrite of the NEM source code from Java to C++.


#41
  1. What are smart assets?

Smart Assets are virtual representations of both physical and virtual assets. They enable users to create mosaics which can represent any asset.

  1. What consensus algorithm is used by NEM and how does it work?

The consensus algorithm is Proof of Importance. It is a reputation-based blockchain consensus algorithm that rewards nodes holding a large amount of the NEM currency (i.e. XEM) and nodes those that use the currency by making transactions. Nodes having a higher reputation are able to “harvest” transactions fees more often than those with lower reputations. Also, a node’s reputation is built up over time as the coins they hold “age”.

  1. What is catapult?

Catapult is the code name for a rewrite of java source code to C++ undetrtaken to enhance the number of transaction per second supported by the NEM blockchain.