NEM XEM to Cardano ADA Exchange

Crypto Pair Details: XEM to ADA

NEM XEM

NEM is a highly versatile crypto solution which seeks to adhere to a host of mainstream industry requirements. It is written in Java and JavaScript with 100% original source code. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure and encrypted messaging system, multisignature accounts and an Eigentrust++ reputation system. Essentially, NEM is designed as a financial blockchain solution and can be used for payment, clearing and settlement in a private environment which is highly controlled. This means that NEM meets several of the regulatory requirements and guidelines in the financial industry. This allows it to be used to settle (change of ownership) any asset via the blockchain. Mijin which is a private chain of NEM has gained popularity and companies such as Hitachi have already embraced it. Why NEM? Many banks around the world have come to accept the importance of blockchain technology. In fact, a good number of banks in the U.S, India and Japan have already started using the technology. Because banks generally employ the smart contract concept, NEM’s platform which is asset-friendly can be used to settle any asset. In settling assets, speed, security, and reliability are very important to a mainstream institution which is what this crypto offers. NEM addresses these issues by repackaging its blockchain into a private chain and presenting it as Mijin. NEM crypto is also applicable in the technology world. Unlike Bitcoin and Dogecoin which use mining to increase the number of coins, XEM uses something called ‘harvesting’. In this process, blocks are generated and a person is rewarded for work contributed using transaction fees. Every block has a certain number of transactions which attract an unknown amount of fees. This keeps the participants incentivized to continue harvesting. For a blockchain user to be allowed to harvest, one must go through a forging mechanism process called Proof-of-Importance (POI). POI is the algorithm used in NEM to time stamp transactions. A NEM user's importance is determined by how many coins they have and the number of transactions made to and from their wallet. POI uses the NCDawareRank network centrality measure, the topology of the transaction graph, as well as a number of other relevant signals to achieve consensus. POI is different from other initiatives which use a fee-sharing model that does not take into consideration one's overall support of the network. In proof-of-stake systems a person needs to have large numbers of coins to form a block, but in NEM transactions volume and trust become factors. This was designed to encourage users of NEM to not simply hold XEM but instead actively carry out transactions. To be eligible for entering the importance calculation, an account must have at least 10,000 vested XEM. All accounts owning more than 10,000 vested XEM have a non-zero importance score. With a supply of 8,999,999,999 XEM, the theoretical maximum number of accounts with non-zero importance is 899,999. In practice, the number of actual accounts with non-zero importance is not expected to approach the theoretical max due to inequalities in held XEM and also the temporal costs associated with vesting. If NEM becomes very popular, a threshold of 10,000 vested XEM could be undesirable. If necessary, this number could be updated in the future via a hard fork, which is the same procedure for adjusting transaction fees and other parameters related to harvesting.

Cardano ADA

Cardano is a decentralised platform that will allow complex programmable transfers of value in a secure and scalable fashion. It is one of the first blockchains to be built in the highly secure Haskell programming language. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers. The Cardano project is different from other blockchain projects as it openly addresses the need for regulatory oversight whilst maintaining consumer privacy and protections through an innovative software architecture. The protocol features a layered blockchain software stack that is flexible, scalable, and is being developed with the most rigorous academic and commercial software standards in the industry. Cardano will use a democratic governance system that allows the project to evolve over time, and fund itself sustainably through a visionary treasury system. Technological Innovation Cardano is the first protocol to incorporate Ouroboros, the ground breaking proof of stake algorithm. The IOHK team employed a “first-principles” approach, driven by peer-reviewed academic research to build Cardano from the ground up. The result of this collaborative effort is the first cryptocurrency to be based in Haskell code, which focuses on industrial strength product that delivers the resilience necessary for mission-critical systems, in this case, securing investment. Cardano’s multi-layer protocol performs advanced functions, and has a settlement layer that is elegantly linked to a control layer. The settlement layer will have a unit of account, while the control layer will run smart contracts and will be programmed to recognize identity, assisting compliance (and allowing blacklisting, for instance). The protocol is geared towards protecting privacy rights of users, while also taking into account the needs of regulators. In doing so, Cardano is the first protocol to balance these requirements in a nuanced and effective way, pioneering a new approach for cryptocurrencies. The system is also designed to allow upgrade through soft forks, enabling it to adapt to changing needs and evolve quickly, when required. A treasury system is also being installed that will ensure the sustainability of the protocol. Cardano is built in the spirit of collaboration by being completely open source and patent-free. Engineered for efficiency and scalability, the Cardano ecosystem will develop into the most complete cryptocurrency ever constructed. Conceptual Innovation i. Privacy and regulation The original Bitcoin blockchain was meant to be a way for individuals to transact directly and anonymously with each other outside the control of banks and governments. This guarantees privacy in financial dealings, a fundamental individual right, but full anonymity can be counterproductive. Today most blockchain projects look to further either the aims of privacy or of regulation. To be effective globally, we think our blockchain must ‘square the circle’ by finding the right mix of individual privacy protection and provision for regulatory control. ii. Governance Public, decentralized blockchain projects rely on crowd-based governance models. This allows for democratic control of the network by its participants, which is essential to building truly decentralised economies. However, if they are not carefully designed, such governance can go awry. Both the Bitcoin and Ethereum communities have experienced devastating schisms on the question of how to upgrade their networks – in Ethereum's case already causing a split. The Cardano blockchain has an airtight governance model that allow the community to democratically take clear and binding decisions. iii. Funding The Cardano blockchain has sophisticated maintenance and development needs and is able to adequately fund itself, both in terms of running costs and new investment. The Token: ADA Voucher Every blockchain project has a token of value commonly referred to as a cryptocurrency. Ada is the cryptocurrency on the Cardano blockchain. With Ada, holders can send value between friends, pay for a good or service, deposit funds on an exchange, or enter an application. To perform a transfer on the settlement layer requires you own Ada, or acquire Ada through an exchange. It will also be the native token to be used in applications built on the computation layer. The Wallet: Daedalus Each cryptocurrency requires a “wallet” to store Ada. Typically this wallet is a software application that can be installed on any computer or smartphone. Daedalus is a highly-engineered wallet with advanced security features that was developed by IOHK specifically for the Cardano blockchain and protects your assets with the most advanced cryptography. In the future, Daedalus will not only support Ada, but other cryptocurrencies such as Bitcoin, Ethereum Classic and many more. The Cardano Foundation The Cardano Foundation’s core mission is to standardise, protect and promote the Cardano Protocol technology. The Cardano Foundation acts as a supervisory and educational body for Cardano. Our mission is to: 1. Standardise, protect and promote the Cardano Protocol and its applications 2. Be a community hub offering authoritative, timely information about the technology and Cardano’s wide-ranging potential 3. Liaise and influence government and regulatory bodies, form strategic partnerships with businesses, enterprises and other open source projects and aid the creation of formal software standards for Cardano, a crucial feature for its long term success and critical in adoption and government engagement Areas of Focus: 1. Cardano Protocol - We function as an objective standards body for the Cardano protocol as it evolves over time. 2. Cardano community - We support, grow and help educate the Cardano blockchain community. 3. Cardano ecosystem - We work to expand and protect the Cardano ecosystem. This includes promoting Cardano as a platform for commercial entities and serving as an objective organization for enterprises interested in joining Cardano. 4. Serving the wider blockchain community - We aim to influence and progress the emerging commercial and legislative landscape for blockchain technology and cryptocurrencies in general. We proactively approach government and regulatory bodies and form strategic partnerships with businesses, enterprises and other open-source projects. IOHK Founded in 2015 by Charles Hoskinson and Jeremy Wood, IOHK is a world-class engineering and technology company committed to using peer-to-peer innovations to provide financial services to three billion people that don’t have them. The group is contracted to design, build, and maintain Cardano through to 2020. Emurgo Emurgo is the venture building entity in the Cardano ecosystem, its goal is to aid, integrate, and foster Cardano blockchain applications. Emurgo captures the transformative power that blockchain technology brings to the developing world. Decentralized applications built on Cardano technology, funded and supported by Emurgo, will have the potential to build groundbreaking applications. Project Road Map IOHK has now released the settlement layer. This means you can transact, trade, and purchase Ada tokens fully independently of the computation layer. The goal for the computation layer is to have a beta released by the first quarter of 2018. Once both settlement and computation layers are live, users will be able to setup a custom environment to build decentralised applications on the Cardano stack. In 2019, IOHK intends to work on Cardano’s long-term scalability and augment its capabilities. As developers, IOHK has been contracted through 2020 to make sure Cardano is being adequately maintained. The goal is to create a sustainable ecosystem that is capable of funding and supporting itself.

SOURCE: COINGECKO

instantcryptocurrencyexchange Statistics

Instant Cryptocurrency Exchange Platform