NEM

all-about-nem.md

NEM

NanoWallet

Wallet Types

• simple wallet => creates .wlt file, containing pvt key, encrypted by password (easily importable)
• brain wallet => pvt key derives from the password, pvt key is not exported, wallet login is possible from any NanoWallet on another computer (use at least 12 characters for the password)
• pvt key wallet => used to import an old account / paper wallet

Services

Multisignature and Multi-User Accounts

• M-of-N multisig
• supported by all NEM wallets
• https://blog.nem.io/how-to-use-multi-signature-accounts/

Namespaces & Subdomains

• are domain names
• are unique
• authenticate mosaics which were created on them
• can be used as "alias" to evaluate its owner (e.g. tx can be sent to @aaa (root namespace prefixed with an '@'), refering wallet address would automatically be evaluated)
• https://blog.nem.io/mosaics-and-namespaces-2/

Delegated Harvesting

• can be activated if the vested balance is at least 10'000 XEM

Apostille

• advanced notarization system
• can:
  • notarize a file
  • write memos to it
  • update to the new version of the document
  • its ownership can be changed
• https://blog.nem.io/apostille/

Mosaics

• "tokens" or "colored coins" on NEM

• idea: multiple mosaics form "the bigger picture", hence the name "mosaic"

• at least 1 root namespace has to be owned

• available properties:

  • description (free text)
  • divisibility (0-6 decimal places)
  • information (arbitrary byte array, "messages" in NEM)
  • domain name or name space (namespace max. 16, sub-namespace max 64 chars)
  • mosaic name (is unique per domain name)
  • mutable quantity (amount in circulation, can be immutable or dynamic)
  • transferability (n: transfer b/w creator & user; y: transfer b/w all users)
  • levy (creator gets commission on each transfer, paid in mosaic or XEM)

• https://blog.nem.io/mosaics-and-namespaces-2/

Changelly Instant Exchange

• in-wallet XEM purchase (pay in BTC, USD, ETC, XMR, u.a.)