Nem Dedicated Node

This cryptocurrency, created in 2015, is of Japanese origin. The program code of NEM is written in the widespread programming languages Java and Javascript. The name NEM is an abbreviation for the New Economy Movement. Unlike many other cryptocurrencies, using Proof-of-Work and Proof-of-Stake algorithms, the NEM algorithm is Proof-of-Importance. Coins with the designation XEM circulate in the network NEM. There can be a maximum of 9 billion XEM coins in the NEM network.

The NEM algorithm works as follows. Since all 9 billion XEM coins were created at the same time when the network was launched, XEM mining is not possible. Instead, XEM coins can be mined by having at least 10,000 XEM coins in a NEM wallet. Both local workstations (local harvesting) and remote workstations (delegated harvesting) are used for harvesting. Harvesting is the processing of transactions according to the NEM algorithm. NEM algorithm allows the release of user tokens directly from the wallet (NEM client). To avoid spam on the NEM network, a small fee is charged for the issuance of a user token on the NEM blockchain.

The NEM network relies on NEM nodes to validate transactions. These include both public XEM nodes and private (dedicated) nodes. A typical NEM node becomes any device that has a NEM client installed and has at least 10,000 XEM coins in its wallet. The Eigentrust++ algorithm helps to identify possible malicious behavior of a NEM node. NEM nodes poll each other continuously for this purpose. The hardware requirements to the NEM node are not high, and the NEM node can even be run on a mini Raspberry Pi computer. Which transaction in the NEM network will be processed by a given NEM node is determined randomly by the NEM algorithm. To install the NEM node software, it is enough to download it from the official website of the project.

In addition to regular NEM nodes, the NEM network has super NEM nodes. They have high requirements for hardware and network bandwidth. NEM super nodes are designed to support NEM clients and third-party applications. To launch a NEM supernode, a minimum of 3 million XEM coins in a dedicated wallet, as well as a one-time non-refundable contribution of 30 XEM is required.

NEM dedicated node is a NEM dedicated server. Developers of web3 apps, dApps, and blockchain smart contracts need NEM dedicated nodes. Setting up a NEM dedicated node (dedicated server) is extremely complex even for an experienced developer. A good alternative is NEM blockchain node as a service. This solution will save a lot of hassle of installing and setting up a NEM dedicated node.

Unlike many other cryptocurrencies, blockchain smart contracts here are executed on the client-side. This significantly reduces the computational burden on the NEM network. Since work in the NEM network involves cash, developers first test the functionality of their web3 apps, dApps and blockchain smart contracts in the NEM testnet, which is called Catapult. Only the settings of the NEM nodes that are connected differ. Otherwise, NEM testnet and NEM mainnet are identical. Using dedicated nodes is a great way to save developers time and effort.

The NEM network is in the process of a major upgrade and will be called Symbol. The blockchain provider API, various API methods, including blockchain JSON-RPC Access, will be available for dApps developers based on the Symbol network. The Symbol network will make it easy to build web 3 applications, taking advantage of a layered architecture. Common programming languages like Javascript, Java, C #, and even PHP can be used to write dApps on the Symbol blockchain. Client requests will be handled by the REST gateway as well as Mongo DB and API servers. This will increase both productivity and speed in developing dApps and web 3 applications, as well as blockchain smart contracts.