What’s in the destiny for NEM, where is it used in genuine life and what is Catapult?
Today we interviewed Jeff McDonald and Stephen Chia, house members of the NEM Foundation. Jeff and Stephen common with us sum of NEM projects and the prospects for the future.
NEM was primarily combined to rise a blockchain for craving level. A private sequence for companies or organizations where information can be stored. Through the use of microservices architecture, NEM provides a bill design divided into different parts, it creates it easier for the developers to refurbish one part while the rest stays functional. This sold aspect of NEM blockchain is what sets it apart, according to Jeff.
When asked about decentralized exchanges, Jeff points out a pivotal aspect in sequence for exchanges to work, which is trust. Although centralized systems yield cheaper and faster results, decentralization allows for a more secure system. Jeff believes this will be the subsequent step forward.
As for Stephen, he common with us what they call a multi-level signature confidence system. NEM designed a multilevel that fits craving needs, where mixed signatures are indispensable in sequence to routine payments.
“This design allows a lot of companies to look at it and say, hey now it can indeed fit within what I’m perplexing to do within my organization.”
Stephen and Jeff also common with us other NEM associated projects such as Proxima X. This plan bases the record in storage solutions, providing confidence in a distributed form within the NEM Blockchain to equivocate any confidence breach, formulating a decentralized storage.
When commenting on use cases for NEM, Jeff explained how this blockchain can be used in a lot of different areas, trimming from databases, storage, and transactions, going all the way to identity, skill titles, credit scores and even voting.
“Blockchain record is display exponential growth.”
As for Jeff and Stephen’s viewpoint on the stream bear market, they both commented on how NEM is not focused on price, but rather on good record so people can build on it and eventually change the world. Jeff commented on how bear markets concede for new investors to come in and how this generates the appropriation for technologies to be serve developed.
Finally, Jeff and Stephen residence the cryptocurrency sell penetrate where over $500m value of NEM were stolen. The Coincheck penetrate propmted NEM’s group to rise new technology to forestall destiny problems such as this one.