How to buy XEM

Before you buy XEM you should know what it is. Click here to read about XEM written in simple English.

If you wish to skip this process send an email at [email protected] or enter your details here.

1. Make a wallet.

One of the safest website to create a wallet is myetherwallet.com Since XEM is a Coin  it can be stored on NEM wallet .

  • To make a wallet go to myetherwallet.com and click on new wallet tab.
  • Enter your password and click create a new wallet.
  • Save your private key and write it down on a separate piece of paper.

For detailed instruction on How to Open an Ethereum wallet click here.

 

2. Buy Ether on local Ethereum.

1. Once we have created and saved the private key of the Ether Wallet we need to buy some ether which we can convert into XEM. localethereum.com is a decentralized P2P platform to buy Ether anywhere in the world.

3. Switching Ether to XEM

Now that you have ether you can switch that to any other coin. In this case, we will be switching it to NEM(XEM).

  1. Go to switchmycrypto.comSelect ether

 

 

 

2. Choose ether on the left side. Choose NEM on the other side.

 

 

 

3. Enter your wallet address (Your ether wallet address is the one which starts with 0x) and other details. As this is an ether token the recipient address, NEM(XEM) address, and the sender address, your ether address, are the same.

 

 

4, Sending the ether. (Guide on how to send ether.)Sending eth and Entering TXD

 

 

5. Enter the transaction id(found after sending ether) and click send invoice.

 

4. Viewing your NEM(XEM)

  1. Download and install NEM mobile app and follow the given instructions. (https://play.google.com/store/apps/details?id=org.nem.nac.mainnet&hl=en)

2.  Open your NEM Wallet and go to the dashboard to see  the XEM balance.

 

4. Click on the receive tab and here you can see you wallet address which is to be entered on step 3.1.                                                                                                                                                                                                                   

 

We will do this whole process for you if you think it is confusing. Enter you details here.


							
Nem Header

What is NEM(XEM)?

Introduction to NEM

  • Nem was created by forking NXT and then being adopted by the non-profit team of the NEM foundation.
  • NEM which stands for the New Economy Movement was launched in March 2015.
  • It has been adopted by the Mijin commercial blockchain.

 

Proof of Importance

NEM Proof of Importance

  • NEM uses Proof-of-Importance as its consensus algorithm.
  • Proof of work needs to use a large number of resources to get mine new blocks. Asics, which is used by companies, overpower the individual using CPUS. Therefore the rich get richer.
    Proof of work do not need to use larger resources but larger staking and older stakes get preference in mining blocks. This also leads to the rich getting richer.
  • NEM’s Proof of importance takes into account balance as well as transactions.
  • How many transactions and to whom the transactions take place with. Each user has a trust score, the higher the score the more you will be rewarded.
  • Vesting- You need 10000 XEM vested to start mining. 10% of your unvested balance becomes vested every 24 hours.Nem Vesting
  • Harvesting- There are two types of harvesting local and delegated harvesting.
  • Local harvesting is easier but has disadvantages to delegated harvesting.

 

Notarizations

  • NEM aims to make an advantage of different features to make a j=holistic blockchain notarization system called Apostille.
  • These notarizations are not one-time notarizations, they are dynamic moving and changing which is constantly updated on the blockchain.
  • The four main features to implement this system are Namespaces, Mosaics, Messages, and Multisig Contracts.

 

Namespaces

  • Namespaces are analogous the domain names on the internet. Just like domains, they are unique but the “sub-domains” are not.
  • For example, there is only one switchmycrypto.com but “blog.”switchmycrypto.com is not unique. The blog subdomains are used widely even if the root level domain is unique.
  • Giving unique namespaces allow companies to build and maintain a reputation system. If we take the same example, you will be sending NEM digital features to switchmycrypto domain which would be registered by the company showing authority and legitimacy ensuring trust.
  • This same feature can be used in the government when officials are required to approve any document. The namespace will act as a stamp of authority. It is an officially endorsed on the public blockchain.

Mosaics

  • Mosaics are user created named assets on the blockchain.
  • Mosaics have customizable names, descriptions, divisibility quantities as either fixed or mutable, and transferability restrictions if necessary, and can have levies applied to them. They can be also created to pay for levies on other mosaics.
  • Private companies can use this to make shares in a company. Governments may use it to give any type of identity to the citizen or the citizenship itself.

Messages

  • Messages in NEM can be Open, Encrypted and Hex.
  • The max length of Messages are 320 characters, 272 if encrypted. If a longer message is needed they can be strung together.
  • Messages are needed in the notarized system because after the notary is made there may be a need to make updates and changes. This change can be made to the file and the thing it represents.
  • Messages can also be used as plain-text to add additional information, links, etc.
  • Hex can be used to update the backend of any application.

 

Multisig Contracts

  • NEM is not like other multisig accounts. They are actually on-chain contracts.
  • They are created by converting a normal pre-existing and funded address.
  • There can be multisig accounts where there are m members and n members are needed to access the account. Here m and n can be 1-32.
  • This allows a feature in Apostille. Let’s say all transactions sent to a multisig account need to be verified. This account is no longer a normal account. It is now a certification account call Apostille account.

 

Apostille Overview

Apostille NEM

  • An individual wants to notarize/approve a file.
  • The individual send s the file to a Apostille account.
  • The apostille account is made by converting a funded account into a multisig account with a reputable domain.
  • One or more of the authorized officials will notarize the file and send it out or may reject the request.

 

Click here to learn how to buy NEM.

 

 

How To Buy ADA

How to buy Cardano (ADA)

Before you buy ADA you should know what it is. Click here to read about ADA written in simple English.

If you wish to skip this process send an email at [email protected] or enter your details here.

1.Make a wallet.

One of the safest website to create a wallet is myetherwallet.com Since ADA is a Coin  it can be stored on daedaluswallet.

  • To make a wallet go to myetherwallet.com and click on new wallet tab.
  • Enter your a password and click create new wallet.
  • Save your private key and write it down on a separate piece of paper.

For detailed instruction on How to Open an Ethereum wallet click here.

 

2. Buy Ether on local Ethereum.

1. Once we have created and saved the private key of the Ether Wallet we need to buy some ether which we can convert into Cardano (ADA). localethereum.com is a decentralized P2P platform to buy Ether anywhere in the world.

3. Switching Ether to Cardano (ADA)

Now that you have ether you can switch that to any other coin. In this case we will be switching it to Cardano (ADA).

  1. Go to switchmycrypto.comSelect ether

 

 

 

2. Choose ether on left side. Choose Cardano on the other side.

 

 

 

3. Enter your wallet address (Your ether wallet address is the one which starts with 0x) and other details. As this is an ether token the recipient address, Cardano(ADA) address, and the sender address, your ether address, are the same.

 

 

4, Sending the ether. (Guide on how to send ether.)Sending eth and Entering TXD

 

 

5. Enter the transaction id(found after sending ether) and click send invoice.

 

4. Viewing your Cardano(ADA)

  1. Go to daedaluswallet.io and click on download.  NOTE:

2. Click on create wallet and give your wallet a name.

create ADA wallet

3. Click on the receive button and you see your wallet address(in red) which is to be added in the wallet address field.

  1. ADA wallet address
We will do this whole process for you if you think it is confusing. Enter you details here.
Cadano Header

What is Cardano (ADA)?

Introduction

  • Cardano is an open source project that began in 2015, which wants to change the way crypto-currencies are designed and developed.
  • The main focus is to make a more balanced and sustainable ecosystem which can equally understand the needs of the users while being able to integrate into different information systems.
  • Cardano learns from the 1000 altcoins before it and has a high emphasis on research.
  • Sojourn’s End–  There are two collections of protocols. 1. a provably secure proof of stake based crypto-currency called the Cardano Settlement Layer(CSL) 2. Cardano Computation Layer(CCL).
  • Social Element of Money– There are always disagreements about philosophy, monetary policy, or even just between the core developers lead to fragmentation and forks. The cardano settlement layer will have a layer on top to handle all these issues. Cardano will propose hard and soft forks to vote on.
  • Scripting- Scripting of smart contracts can be done unlike bitcoin. Plutus is a general purpose smart contract language and can be used for DSL inter-operability.
  • Sidechains-  Cardano will have the feature of sidechains in the future called KMZ sidechains.
  • Signatures- Signatures are needed to securely move value from one person to another. Cardano is interested in integrating quantum computer resistant signatures, which cannot be solved even when brute forced by a quantum computer.
  • User Issued Assets(UIAS)- Just like how the ethereum network has an ERC-20 standard for creating tokens, users can issue assets in cardano. One alleged drawback in ethereum is that all transaction cost must be paid in ether. This will not be the case in cardano.
  • Scalability- Scalability is achieved in most crypto-currencies by adding more number of nodes to deal with the incoming transactions. All nodes must have the copy of the blockchain and also all nodes are not active as generally they are randomly selected while the rest sit idle. Ouroborus, a delegated proof-of-stake consensus, selects a group of nodes which have the responsibility of maintaining the network for a period of time. This can accommodate the needs of large corporations such as Facebook and Google.
  • Cardano Computation Layer(CCL)-  The problem in crypto-currencies or anything decentralized is that it can be used for wrong purposes such as trafficking child pornography or selling government secrets. There is no way to stop this but Cardano Computation Layer requires consensus node to willing to include these transactions in these blocks. This can help protect the users.

 

Interoperability

  • The Grand Myopia- There is a need for an unbiased judge, an uncaring digital judge which perfectly executes according to a constitution. The problem occurs when we want to mix this new fintech with the traditional financial systems. Land can be tokenized but can’t be enforced to be given by technology. There is no way to ensure the transfer of a gold bar cannot happen by itself.
  • Legacy- There is a need to upgrade fintech to new technology and not be stuck with the old. Many banks still use backends using  COBOL. The problem is there is no bridge to move from old system to new systems. Cardano believes there are 3 main concerns that have to be addressed.
    • Representation of information and belief in its accuracy.
    • Representation of value and its associated ownership.
    • Representation of entities and, a particular user’s alongside the aggregate level of trust in such entities.
  • Tokenized assets must also be actualized in legacy applications. If Tom has a token of land and sells it on SwitchMyCrypto and if they have not updated to the new ledger there should not be a problem.
  • CryptoCurrency Interoperability-  This problem is easier solved than the legacy one. Each Distributed ledger has its own protocols and standards which can be quantified. It is a question of converting and translating messages. Plutus can be used for interoperability scripts.
  • Maze of Daedalus- The question is, what about the interoperability to something that Cardano does not provide? Should that be out of the scope? They have decided to experiment with this paradigm by deploying our reference wallet’s front end on Electron. It is an open source project maintained by Github that combines both Node and Chrome together. Cardano’s build of Electron is called Daedalus. This allows developers to use JavaScript, HTML5, and CSS3 to build their applications to bridge any need gaps in interoperability.

 

Regulation

  • The truth is all financial systems when big enough require regulation or at least there emerges a desire for regulation. Cardano has chosen to divide between individual rights and the rights of a marketplace. Individuals should have sole access to their funds.
  • Cardano knows that in the future users will have to send metadata(data about the transaction) to Tax Officials or other government authorities. But this should only be done with the consent of the user.
  • As the blockchain is immutable, has timestamping and provides auditability some metadata should be posted to the blockchain. The question arises how much should be posted and how much would just be bloat.
    • Daedalus will support over the next 12 months a large array of features to label transactions and financial activity. These metadata can be exported and shared on demand with whoever the user deems necessary. Furthermore, the data can be operated on by three party applications for domain-specific purposes (for example, tax accounting).
    • Cardano is also experimenting with some fields being encrypted so the metadata would not be revealed publicly.
  • Marketplace DAOs- Smart contracts can be used to create a commercial system using self- enforcing and free of ambiguity code. These smart contracts where there is a deterministic relationship are called marketplace DAOs. There is no need to create a new protocol or any mutability in the ledger. Regulation is done directly by the code and enforced by the code.

ADA coin

  • Total ADA = 45,000,000,000
  • 25,927,070,538 Ada were sold at launch
  • 25,927,070,538 Ada were sold at the ICO
  • This make amount is circulation equal to 31,112,484,646 ADA.
  • The remaining Ada, 13,887,515,354, will be issued after the launch through minting.

 

Additional Notes/Updates

Click here to learn how to buy ADA.