Validated, staking on eth2: #6 – Perfect is the enemy of the good

Validated, staking on eth2: #6 – Perfect is the enemy of the good

08:00 - 10/12/2020

T'was the day before genesis, when all was prepared, geth was in sync, my beacon node paired. Firewalls configured, VLANs galore, hours of preparation meant nothing ignored. Then all at once everything went awry, the SSD in my system decided to die. My configs were gone, chain data was history,...

What is the NEM ?

NEM is a peer-to-peer cryptographic platform encoded in Java and JavaScript with original source code. This platform aims to create a large distribution model. It has introduced new features in blockchain technology with its Proof-of-Importance (POI) algorithm. NEM also has an integrated secure and encrypted P2P messaging system, multisignature accounts and a reputation system.
POI is the consensus algorithm used in NEM to determine who will calculate the next block.
The importance of an account depends on how much money it holds. And how many transactions are made from that account. The POI differs from other initiatives using a cost-sharing model that does not take into account the overall support of the network. In some Proof-of-Stake systems a person only needs large amounts of coins to form a block.

However, in NEM, the amount of the transaction as well as the support of the network become an immortal factor. This was designed to encourage EMS users to not just keep NMS. But rather to actively trade in the NEM ecosystem.