NEM 101 Workshop
•Download as PPTX, PDF•
1 like•239 views
The document summarizes the NEM blockchain solution. It discusses how NEM defines blockchain and can be used for applications beyond currency like voting, notarization, and smart assets. It provides an overview of key NEM features like namespaces, mosaics, proof-of-importance consensus, and the NanoWallet. Examples are given around how NEM could be used for things like certificate issuance, supply chain management, and ICOs.
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Similar to NEM 101 Workshop
Similar to NEM 101 Workshop (20)
More from LoyalCoin
More from LoyalCoin (14)
Recently uploaded
Recently uploaded (20)
NEM 101 Workshop
- 1. The Vertical Blockchain Solution NEM Workshop www.nem.io Presented by Yafi May 11th, 2018
- 2. Insert NEM.io landing page video here. https://nem.io/wp-content/themes/nem/video/nem-basic-intro-small.mp4
- 3. 5/24/2018 3 “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, authors Blockchain Revolution (2016)
- 5. Block Creation Consensus: Proof of Importance (similar to Proof of Stake) Hash Algorithm: SHA – 3 Block creation time: varies with average of 60 seconds NEM Bitcoin
- 6. Why use NEM Blockchain technology? Developer Friendly Several PoC’s Growing Community Real People in Foundation Helpdesk / Forums / Facebook / Twitter / Reddit
- 7. 5/24/2018 7 What is NEM? The Smart Asset Blockchain NEM is built from scratch as a powerful and streamlined platform for application developers of all kinds, not just as a digital currency.
- 8. 5/24/2018 8 What is NEM? The Smart Asset Blockchain Using NEM in your application is as simple as making RESTful JSON API calls allowing you to configure your own "Smart Assets" and make use of NEM’s powerful blockchain platform as your fast, secure and scalable.
- 9. 5/24/2018 9 What is NEM? The Smart Asset Blockchain NEM is a blockchain platform, XEM is the platform’s currency.
- 10. BENEFITS OF The native currency of the NEM public blockchain used to pay transactions to incentivize its network of public nodes that process and record transactions for businesses and users.
- 11. XEM has real fundamental value as the currency of a functioning economy. THIS MEANS
- 12. Immutable Supply It has Zero Inflation Scalable Featuring High TPS Harvestable Use POI to collect tx fees by producing blocks Efficient With negligible electricity and hardware costs Fair All coins distributed equally 01 02 03 04 05 06 Utility Used to power smart contracts and pay tx fees
- 13. 5/24/2018 13 NEM developed a new consensus protocol: Proof-of-Importance. It functions similarly to proof-of-stake, but includes more variables than one’s NEM account holdings. In layman’s terms, it promotes spending of the currency called XEM as it helps the NEM economy healthy. Source: https://www.counterpunch.org/2013/02/04want-to-fix-the-economy-spend-more-money What is POI? Proof-of-Importance
- 14. Want to Fix the Economy? Spend More Money. The economy operates on a simple principle: When people spend money, the economy grows.
- 19. NEM is a native Namespace Namespace is a name, it can represent the name of the organisation. Say for example Apple. XEM is a mosaic, native currency of NEM A mosaic is an asset in NEM. Mosaics are good for cryptocurrencies, stocks, coupons, IOU’s, fiat pegs, and any other kind of financial asset. AppleCoin is a mosaic. NanoWallet Services Station
- 20. NanoWallet Services Station Multi-Signature & Multi-Users Accounts Editable on-chain contracts, the most powerful way to secure funds, enable joint account and are the foundation of DAOs (Decentralised Autonomous Organisation) NEM APOSTILLE Use the NEM Apostille service to create blockchain based notarizations and certificates to time stamp, follow and audit file authenticity.
- 21. A certificate can be forged easily.
- 22. Use the NEM Apostille service to create blockchain-based notarization to time stamp, follow and audit file authenticity.
- 23. Various Universities can notarize these physical certificates.
- 24. Human Resource can use the NEM Blockchain to audit the authenticity of physical certificates. Jeff McDonald
- 25. Namespace: CoinStop Mosaic: CoinstopCoin Mosaic Data: 5,000,000 (5M Coinstop Coins) Immutable? Levy? Transferrable? Yes or No. Let’s make an ICO in 3 minutes! Description: Up to 512 characters
- 26. 5/24/2018 26 nem NEM was built from the ground up to be simple for developers to use. Whether you want to build on top of NEM with your favorite programming language or interact with the NEM core in Java (soon to be C++), NEM’s blockchains has a lot to offer in POWER, SCALABILITY, and EASE OF USE. library NEM is Your Blockchain Engine
- 27. 5/24/2018 27 nem If you’re new to blockchains, NEM was created to be your entry point into the blockchain industry. If you’re an experienced developer, NEM has the power you need to create cutting edge blockchain apps. library NEM is Your Blockchain Engine
- 28. Financial Business Management Secure Records Decentralized Organizations Financial Payments Create your own Cryptocurrencies Mobile Payments Equity Markets Escrow Services Make your own PayPal Automatic Accounting Shipping & Inspections Loyalty Reward Points Know Your Customer (KYC) Logistics (Supply Chain Management) Encrypted Messaging Authentication and Notarization Anti-Counterfeiting Certificate Issuance Corporate Compliance Land Registry Access Control Voting Crowdfunding Stock Ownership ICO’s (Initial Coin Offering) Enterprise Use Cases
- 30. NEM Account01 02 03 04 05 Who likes to cook? Namespace Mosaic Messaging Multi-Signature The NEM Blockchain provides you the following ingredients:
- 31. Record Keeping There will come a time when a consumer will be able to find out where an item came from just by scanning a QR code History of diamonds when purchased? History of minerals? History of livestock or poultry we eat?
- 33. Buy with Bitcoin Buy XEM in one of these exchanges:
- 34. Buy with Fiat Buy XEM directly with USD, JPY, or EURO.
- 35. 5/24/2018 35 W i n d o ws / M a c / L i n u x / A p p l e i O S / A n d r o i d P l a y s t o r e Download the NanoWallet Need help? www.t.me/NEMHelpdesk
- 37. NEM Meetups for various cities around the world. Join the conversation! helpdesk
- 38. NEM Team SEA is based in Malaysia, Indonesia, Thailand, Philippines, Vietnam and Singapore. We are here to help!
- 41. NEM Meetups for various cities around the world. Discover products from the NEM community
- 50. Thank you very much! Telegram: @yafimohammad Email: yafi@nem.io www.NEM.io
- 51. Three Layers of Business Logic CORE PLUGINS & FEATURES Multisig, Namespaces, Mosaics, Messaging PROTOCOLS & STANDARDS Voting, Apostille OFF-CHAIN CONTRACTS ICO maker, XEMsign
Editor's Notes
- Overview: Planning started in January 2014, and launched in March 2015 Four full-time professional developers Reboot of the ideal blockchain 100% new code from scratch Features: First editable m-of-n multisig with blockchain based alerts Asset creation with NEM Mosaics assets featuring fixed or editable supplies, descriptions, levies and transferring rights Namespaces for management of unique domain names on NEM blockchain Offers encrypted, unencrypted and hex-messaging Network: Easy to use universal APIs Two-layered platform with focus on security, safety, and scale Nodes can be run on inexpensive machines and run independently of wallets Fast block times Has mobile wallet for both iOS and Android and NanoWallet for the Desktop Permissioned Chain: Mijin: Private permissioned ledger sidechains from Tech Bureau starting in 2016.
- Overview: Planning started in January 2014, and launched in March 2015 Four full-time professional developers Reboot of the ideal blockchain 100% new code from scratch Features: First editable m-of-n multisig with blockchain based alerts Asset creation with NEM Mosaics assets featuring fixed or editable supplies, descriptions, levies and transferring rights Namespaces for management of unique domain names on NEM blockchain Offers encrypted, unencrypted and hex-messaging Network: Easy to use universal APIs Two-layered platform with focus on security, safety, and scale Nodes can be run on inexpensive machines and run independently of wallets Fast block times Has mobile wallet for both iOS and Android and NanoWallet for the Desktop Permissioned Chain: Mijin: Private permissioned ledger sidechains from Tech Bureau starting in 2016.
- Overview: Planning started in January 2014, and launched in March 2015 Four full-time professional developers Reboot of the ideal blockchain 100% new code from scratch Features: First editable m-of-n multisig with blockchain based alerts Asset creation with NEM Mosaics assets featuring fixed or editable supplies, descriptions, levies and transferring rights Namespaces for management of unique domain names on NEM blockchain Offers encrypted, unencrypted and hex-messaging Network: Easy to use universal APIs Two-layered platform with focus on security, safety, and scale Nodes can be run on inexpensive machines and run independently of wallets Fast block times Has mobile wallet for both iOS and Android and NanoWallet for the Desktop Permissioned Chain: Mijin: Private permissioned ledger sidechains from Tech Bureau starting in 2016.
- Bitcoin uses 144 blocks a day, 12.5 bitcoins per block. = 1800 new Bitcoins per day of inflation to subsidize miners. Miners have to pay electriicy, buy new hardware, personal and warehouse costs. It was estimated last month that overhead from mining is about $6000 per coin earned by a miner. 1800 (coins) x 6000 (costs) = 10.8 million dollars a day. One month over $300m. NEM has 1000 nodes, with cost of running each node at less than $50 a month, or less than $50,000 a month. Total supply = 9b
- Proof-of-Importance NEM developed a new consensus protocol: Proof-of-Importance. It functions similarly to proof-of-stake, but it includes more variables than one’s NEM account holdings. The functions borrow from the math of network clustering and page ranking. At a high level, the primary inputs are: Net transfers: how much has been ‘spent’ in the past 30 days, with more recent transactions weighted more heavily. Vested amount of XEM Cluster nodes: accounts that are part of interlinked clusters of activity are weighted slightly more heavily than outliers or hubs (which just link clusters but aren’t part of them). The importance score addresses two primary criticisms of proof-of-stake. One risk is that people simply hoard many coins as possible and reap the rewards from block creation. This concentrates wealth while discouraging transactions. The importance score means that hoarding will result in a lower score, while spreading XEM around will increase it. Being a merchant pays better than having a hoard. The second risk is a nothing-at-stake problem: because block creation costs no resources, whenever there is a fork, someone can freely create blocks on both forks. This will greatly (perhaps indefinitely) prolong the fork. NEM guards against this. The process of creating blocks is called harvesting, in which the block creator earns all the fees for the associated transactions. The chances of being a harvester are based in part on the importance of the account.
- Proof-of-Importance NEM developed a new consensus protocol: Proof-of-Importance. It functions similarly to proof-of-stake, but it includes more variables than one’s NEM account holdings. The functions borrow from the math of network clustering and page ranking. At a high level, the primary inputs are: Net transfers: how much has been ‘spent’ in the past 30 days, with more recent transactions weighted more heavily. Vested amount of XEM Cluster nodes: accounts that are part of interlinked clusters of activity are weighted slightly more heavily than outliers or hubs (which just link clusters but aren’t part of them). The importance score addresses two primary criticisms of proof-of-stake. One risk is that people simply hoard many coins as possible and reap the rewards from block creation. This concentrates wealth while discouraging transactions. The importance score means that hoarding will result in a lower score, while spreading XEM around will increase it. Being a merchant pays better than having a hoard. The second risk is a nothing-at-stake problem: because block creation costs no resources, whenever there is a fork, someone can freely create blocks on both forks. This will greatly (perhaps indefinitely) prolong the fork. NEM guards against this. The process of creating blocks is called harvesting, in which the block creator earns all the fees for the associated transactions. The chances of being a harvester are based in part on the importance of the account.
- Let’s quickly explore the various services that the NanoWallet provides... MultiSignature, make an account more secure by giving power to 1 or more accounts to control the sending of an asset. Multi-User Accounts: allows you to create as many accounts as you can Namespace & Subdomains: as we all know its similar to having a domain name. Example is Apple is a namespace Mosaic: this is the asset, example is AppleCoin, this is a mosaic. Voting: decentralised voting Delagated Harvesting: it’s a form of mining, minimum 10k XEMs.
- Let’s quickly explore the various services that the NanoWallet provides... MultiSignature, make an account more secure by giving power to 1 or more accounts to control the sending of an asset. Multi-User Accounts: allows you to create as many accounts as you can Namespace & Subdomains: as we all know its similar to having a domain name. Example is Apple is a namespace Mosaic: this is the asset, example is AppleCoin, this is a mosaic. Voting: decentralised voting Delagated Harvesting: it’s a form of mining, minimum 10k XEMs.
- Back in 19th of August, a second NEM Meetup was held in a city called Lucena, attendees Certificate were registered using Apostille to make sure the physical certificates are authentic.
- Back in 19th of August, a second NEM Meetup was held in a city called Lucena, attendees Certificate were registered using Apostille to make sure the physical certificates are authentic.
- Back in 19th of August, a second NEM Meetup was held in a city called Lucena, attendees Certificate were registered using Apostille to make sure the physical certificates are authentic.
- Back in 19th of August, a second NEM Meetup was held in a city called Lucena, attendees Certificate were registered using Apostille to make sure the physical certificates are authentic.
- Description: Up to 512 characters
- Overview: Planning started in January 2014, and launched in March 2015 Four full-time professional developers Reboot of the ideal blockchain 100% new code from scratch Features: First editable m-of-n multisig with blockchain based alerts Asset creation with NEM Mosaics assets featuring fixed or editable supplies, descriptions, levies and transferring rights Namespaces for management of unique domain names on NEM blockchain Offers encrypted, unencrypted and hex-messaging Network: Easy to use universal APIs Two-layered platform with focus on security, safety, and scale Nodes can be run on inexpensive machines and run independently of wallets Fast block times Has mobile wallet for both iOS and Android and NanoWallet for the Desktop Permissioned Chain: Mijin: Private permissioned ledger sidechains from Tech Bureau starting in 2016.
- Proof-of-Importance NEM developed a new consensus protocol: Proof-of-Importance. It functions similarly to proof-of-stake, but it includes more variables than one’s NEM account holdings. The functions borrow from the math of network clustering and page ranking. At a high level, the primary inputs are: Net transfers: how much has been ‘spent’ in the past 30 days, with more recent transactions weighted more heavily. Vested amount of XEM Cluster nodes: accounts that are part of interlinked clusters of activity are weighted slightly more heavily than outliers or hubs (which just link clusters but aren’t part of them). The importance score addresses two primary criticisms of proof-of-stake. One risk is that people simply hoard many coins as possible and reap the rewards from block creation. This concentrates wealth while discouraging transactions. The importance score means that hoarding will result in a lower score, while spreading XEM around will increase it. Being a merchant pays better than having a hoard. The second risk is a nothing-at-stake problem: because block creation costs no resources, whenever there is a fork, someone can freely create blocks on both forks. This will greatly (perhaps indefinitely) prolong the fork. NEM guards against this. The process of creating blocks is called harvesting, in which the block creator earns all the fees for the associated transactions. The chances of being a harvester are based in part on the importance of the account.