For the blockchain technology, nodes are the individual parts of the larger data structure. As the owners of nodes willingly contribute their computing resources to store and validate transactions they have the chance to collect the transaction fees and earn a reward in the underlying cryptocurrency for doing so.
NEM Catapult Update
Like other platforms, NEM Blockchain is also built from a network of nodes. But unlike others’ nodes in the NEM blockchain provide a powerful, stable, and secure platform where Smart Assets transactions are conducted, searched, and immutably logged to the blockchain ledger.
Figure 1: Catapult’s Performance Advantage, A Four-Layered Architecture
As seen in figure 1 above, the four-layered architecture allows developers to update any of these tiers without disrupting the others, which improves security.
Plausible as it may already be, NEM wants to develop this further. Just recently, NEM released and made public a server milestone with a code name “Cow” that will bring new unique features and changes to NEM Catapult.
NEM is pleased to announce that the the P2P server and the REST API gateway have been updated. Also, the bootstrap service (docker) will be followed soon while changes to the docker files have been completed.
Updates can be accessed here.
As of 11th of February, the TS/JS SDK does not support Bison/Cow. Other SDK languages will follow at a later stage.
A Project Management Committee (PMC) has been formed to manage developer contributions that are made to the NEM ecosystem.
There are also realignment and recalibration of communication channels due to the formation of the new PMC.
Server Milestones and features
The new Cow server has these new features:
Enhanced cross chain swap functionality
New hashing algorithms have been added to increase compatibility with other chains. Then, the default hash is SHA3–256. With the update, the following hash algortihms are now available:Keccak-256 (ETH compatibility); Op_Hash_160: first with SHA-256 and then with RIPEMD-160 (BTC compatibility); and Op_Hash_256: input is hashed twice with SHA-256 (BTC compatibility)
State change receipt capabilities
Receipts provides proof for “hidden changes” in transactions. In complex transactions which are enabled by conditional changes, there are instances that no additional transactions are recorded when deposits are returned In these cases, returned deposits appear as “hidden changes” that increases the account balance. Receipts are useful to record all this.
Separation of mosaics from namespaces
With the updates, it is now possible to configure the mosaic not to expire, which ensures the usage of mosaics even if the creator is out of business.
Enhance harvesting configuration
This change allows the setting of a different mosaic than the primary chain currency for harvesting. This allows greater customisation of private networks and for new crypto-economic models.
New reputation handling
Nodes basically keep track of successful communication in the past and use that list to reconnect. This plays a role to subvert Sybil attacks, where identities of nodes are forged to disturb the P2P system.
For a more detailed doumentation of these features, you can visit https://nemtech.github.io/.
About the NEM Blockchain Platform
NEM is an out-of-the-box enterprise-grade blockchain platform which launched in March 2015. NEM has industry leading blockchain features that include: multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can “plug ‘n play” with NEM.
About the NEM.io Foundation Ltd
NEM.io Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.