PowerPoint Presentation
Introduction to NEM
www.nem.io
NEM(cryptocurrency)?NEM at a GlanceNEM Key FeaturesNEM Use
Cases?Looking Ahead
OUTLINE234~1415161
CRYPTOCURRENCY?
2
NEM is more than just a cryptocurrency or a new altcoin; it is
an entire platform built on revolutionary blockchain technology,
reimagining from scratch the ideal blockchain. NEM does not only
allow for standard peer-to-peer value transfer transactions, but
instead does much more store data, make transactions, prove
identity, timestamp documents, and create arbitrary digital assets.
Using secure cryptography, it can be used for a wide variety of
applications across many industries, including the financial
industry, government, logistics, and the medical industry. The NEM
platform is a highly available system that any business,
government, and/or an individual can make use of to shorten the
design lifecycle and reduce their cost of operation.
Lon Wong, Dragonfly Fintech CEO
Overview:Planning started in January 2014, and launch in March
2015Four full-time professional developersReboot of the ideal
blockchain100% new code from scratch
Features:First editable m-of-n multisig with blockchain based
alerts Asset creation with NEM Mosaics featuring fixed or editable
supplies, descriptions, levies and transferring rights Namespaces
for management of unique domain names on NEM blockchainOffers
encrypted, unencrypted and hex-messaging
Network:Easy to use universal APIsTwo-layered platform with
focus on security, safety, and scale Nodes can be run on
inexpensive machines and run independently of walletsFast 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.
AT A GLANCE3
NamespacesNamespaces allow users to own unique domain names.
Just like a person or group owns a website on the internet, an
individual may own a domain on the NEM blockchain. There are unique
root-level domains and non-unique subdomains. It also helps to
build and maintain a reputation system for services built on
registered names. One such example in NEM is the blockchain
supported asset feature, named Mosaics, but examples could include
any third-party distributed naming systems an app builder can
imagine.
Example: spaceminers.mars.moon - Namespaces (root-level):
spaceminers - Sub-domain 1: mars - sub-domain 2: moon
4MAIN FUNCTIONS
MosaicsA mosaic is an asset in NEM. Mosaics are good for
cryptocurrencies, stocks, coupons, IOUs, fiat pegs, and any other
kind of financial asset.Anybody can make their own asset, so it is
like having your own cryptocurrency. In fact, the native
cryptocurrency of NEM is XEM and XEM is also a mosaic. The
following diagram explains how a mosaic gets its name. Example:
NEM:XEM, Alice:Alimoney, and Bill:Billcoin, and are all three
mosaics and additional mosaics can be made by anybody.
5NEMs currency is XEMNEM:XEMAlices currency in NEM is
AlimoneyAlice:AlimoneyBills currency in NEM is
BillcoinBill:BillcoinNamespace:NEMNamespace:AliceNamespace:BillMAIN
FUNCTIONS
Mosaic Description and LevyAssets have a personalized
descriptionExample: BILLCOIN from BilI Trading Co., Ltd. is used to
maintain the welfare of animals in animal shelters and is accepted
at all pet stores that have partnered with Bill Trading Co. Mosaics
can be made with or without levies. In this case, a levy is an
extra fee on a transaction. Each time a transaction is made with
that mosaic, a small fee is redirected to the creator of the
mosaic.Example: Bill pays Bob some ALIMONEY, but since Alice
created the mosaic with a levy, she gets a small fee paid to her
when the transaction is sent.
6MAIN FUNCTIONS
Bill
BobAlimoney
Alicelevy
Mosaic Transferability Assets can be made transferable or
non-transferable among third parties. A transferable asset can be
sent to anybody without restrictions. A non-transferable asset can
only be sent from an issuer to a user, and then from the user back
to the issuer. A user can not send a non-transferable token to any
other user. They can only send it back to the issuer.
Non-transferable assets are good for land entitlement, voting
tokens, tickets, or user identification.
7Billcoin can be transferred among any 3rd parties regardless of
relationship of the issuer.Transferable asset
Bill
Bob
Alice
Chuck
DavidBillcoinBillcoinBillcoinBillcoinBillcoinBillcoinAlimoney
may only be included in transactions between the issuer and the
user. Non-transferable asset
Alice
David
Chuck
Bill
BobAlimoneyAlimoneyAlimoneyAlimoneyMAIN FUNCTIONS
Mosaic SupplyYou can customize your assets according to the
following criterion:Assets can be locked into a fixed supply, or a
person can select mutable supply. Assets can be made divisible or
not up to 6 decimal places. Example: XEM is divisible so a person
can send small amounts like 0.36 XEM, 0.000007 XEM. It is also a
fixed supply, so only 9 billion XEM were created and no more will
ever be made. But BILLCOIN is not divisible so it must be sent in
whole amounts like 1 BILLCOIN, 5 BILLCOIN, 380 BILLCOIN. Also,
BILLCOIN was made to be mutable, so Bill can create or delete extra
BILLCOINs as needed.
8MAIN FUNCTIONS
Multi-User and Multisignature AccountsNEMs multisig works by
on-chain contracts.These are not complicated smart contracts that
can be messed up.
Example: Alice, Bob, and Chuck have their own accounts. Account
M is also a separate account.
9MAIN FUNCTIONS
Account M(Multisig Budget)
Account 1(Alice)
Account 2(Bob)
Account 3(Chuck)
Unlike other blockchain solutions, the multisig account is not
created by combining public keys from other accounts. Instead, a
pre-existing and funded address is converted into a multisignature
account and the cosignatories are assigned to it.
Multi-User and Multisignature AccountsMultisignature accounts
are accounts that can be owned or shared by other people, not
unlike a shared checking account at a bank, but with more features,
e.g., multi-phase transaction approval from each cosigner.
Example: The private key (the secret code that unlocks the
account) of the multisignature account M, is no longer important
and not used. Meanwhile, Alice, Bob, and Chuck have custodial
control over Account M.
MAIN FUNCTIONS10
Account M(Multisig Budget)
Account 1(Alice)
Account 2(Bob)
Account 3(Chuck)
Unlike other blockchain solutions, the multisig account is not
created by combining public keys from other accounts. Instead, a
pre-existing and funded address is converted into a multisignature
account and the cosignatories are assigned to it.
Multisignature and Multi-User AccountsNEMs multisignature
contracts can easily be edited.The only information that is needed
is another persons account address.
Example: With only a few clicks, Chucks account is removed and
Davies account is added.
MAIN FUNCTIONS11
Account 4(Davie)
Account 1(Alice)
Account 2(Bob)
Account 3(Chuck)
Account M(Multisig Budget)
Multisignature and Multi-User Accounts
The cosignatories can be assigned in any m-of-n combination
where both the m and n can be any number of 1-32; this includes
1-of-1 multisignature contracts. A 1-of-1 multisignature account is
possible in NEM as the account being turned into a multisig account
has its private key nullified; meaning it no longer has any power
to initiate transactions. Only a cosignatorys private key can
initiate transactions on the multisigged accounts behalf. It is
therefore that accounts in NEMs multisig implementation can be
analogously thought of as parent/child accounts, where the parent
accounts are the cosignatories and can make the child account make
any transaction.
MAIN FUNCTIONS12
MessagesMessages in NEM come in three flavors: open, encrypted,
and hex. They can be of any length up to 320 characters (272
encrypted), and messages can be strung together if needed.In the
digital age information is very important and valuable, and the
blockchain is designed to secure and transfer valuable data, e.g.,
KYC, property registration, patents, and more.
MAIN FUNCTIONS
13
NanoWalletNEM has released its new NanoWallet. Written in
Javascript, it is a light and multi-platform wallet for Windows,
Mac, Linux, Android, and iOS. It offers support for all transaction
types on NEM. It also introduces NEMs Apostille, which is a
blockchain notarization app where a user can make, edit, update,
transfer, and split ownership of blockchain notarizations.
MAIN FUNCTIONS14
ApostilleNEM has released a new blockchain notarization service.
For the first time, blockchain notarizations are now updatable,
augmentable, transferable, can be certified by third parties, and
can be conjointly ownedApostille notarizations are good for
property titles, business contracts, tracking items in logistics,
certificates, tickets, and counterfeit prevention.
MAIN FUNCTIONS
Conjointly Own
Transfer Notarizations
3rd Party Certification
15
USE CASESMaking digital assets to represent any financial
security with NEM Mosaics including fiat representations, game
tokens, coupons, member loyalty points/awards/miles, micropayments,
remittance applications and so on.Using the NEM Namespace feature
to act as a decentralized DNS. Tokenized Proof-of-Existence and
ownership of digital documents, goods, applications, and licenses.
NEM Apostille can make these notarizations updatable, transferable,
and conjointly owned. Messaging applicationsSign-on for
passwordless applications, using NEM key ID. Voting applications
Back-end solutions and security for large specialized databases
Fundraising and ICOs Identification systems
16
CatapultThe next generation architecture of NEM/Mijin is
codenamed Catapult. It is a rewrite of NEM in C++ and offers
greater speed and scale. Catapult is a three layered platform, the
first of its kind in this respect. The first layer is the
blockchain server layer and is just for processing transactions.
The second layer is the mongoDB and API server layer. This layer
will offer a solution to the scalability problems faced by other
blockchains. The third layer is the wallet and light client layer.
It offers ensures that no sensitive data ever leaves a users
computer and is broadcasted over the internet.
LOOKING AHEAD17
NanowalletTry It Now!
Thank You
[email protected]
