The future outlook for NEM (NIS1)
NEM (NIS1) Genesis block was started on the 31st of March 2015(from today February 25, 2021) 5 years 10 months and 26 days ago. In this time it has shown to be a very reliable platform with fast transactions, solid features and very low fees.
With the upcoming Launch of Symbol (XYM) on March 15th, all of this will be enhanced and expanded. But what does this mean in regards to the future outlook for NEM (NIS1)?
Come and join the discussion with Kristy-Leigh Minehan, scheduled for tomorrow –
February 26th 1300 UTC, on YouTube!
Previously Head of the NEM Group David Shaw highlighted in a NEM Forum post that “considerable thought was given to NIS1 alongside the preparation for Symbol launch”. He addressed three critical key areas in order to keep NIS1 successful and ensure its continuity.
First, it is planned to create a dedicated Trust which will solely invest in improving NIS1. Second, the product life of NIS1 needs to be addressed by improving the software and preparing a proper roadmap, which requires product and technical management to be hired for its maintenance.
Last but not least, the Supernode Reward Programme needs to be refilled with an additional transfer of funds to ensure that the network is secured by high performance VPS servers.
It is expected that a POI vote will decide on the outcome.
In the same forum’s thread – Mrs. Minehan similarly emphasized the importance of a dedicated product manager for NIS1 who will work closely together with her. Documentation needs to be updated and expanded – NIS1 could do well with its core modules being updated. User experience and Interface in the Nanowallet will be addressed and unified. A path to open source NIS1 ẃill be discussed.
As it stands, NEM and Symbol will be both running in their own ways and we can be faithful that both may facilitate many transactions with the technologies being used to their highest respective potential.
It remains to be seen how the two blockchains can work in tandem and if the NEM Group can achieve balance in the difficult act of being community driven but business oriented.
About NEM (NIS1)
The NEM Blockchain boasts a runtime of already close to six years and counting. The complimentary Nanowallet features already a host of functionalities with all of them working solid without a break. For endeavors which only require a limited functionality, NEM NIS1 can still be a viable option.
Most prominent features include:
- PoI & Whitelisting Voting module
- Multi-signature Transactions
- Apostille Module Notary Service
- Harvesting & Delegated Harvesting
- Plain & encrypted messaging
- Address Book
- Trezor support
- Normal Transactions
- Offline Transactions