Before you can check whether the NEM 3.0 has been passed or not, you need to check if your NEM wallet is compatible with the latest version. If your NEM wallet is compatible with NEM 3.0, you can add the latest nodes to it and check if it is connected to the blockchain. If it is, you will know whether the nodes have been passed or not.
NEM 3.0 was initially planned for release during Q4 201but it seems the NEM Foundation is still working hard to get it out.
This is one of the most asked questions by the community regarding the new NEM 3.0 technology. The answer is no yet! But, it’s still being worked on! The NEM Foundation has been working hard to get the new technology out and now they are working on the final details. The NEM Foundation assures that the new technology is going to be much better than the previous one!
NEM 3.0 will include updated features and new features.
The NEM Foundation has been developing NEM 3.0 for the past two years. However, the project is still in the development stage. The NEM Foundation is working on integrating the updated features. The new features will be added to the existing NEM 2.0 blockchain and the existing NEM 2.0 nodes will not need to refit to the new blockchain.
The new features will be focused on the ease of use and security of the platform, as well as increasing the speed of transactions.
The NEM Foundation has officially launched the NEM 3.0 – Testnet Beta. The official launch of the mainnet is expected to take place in the second half of this year. The new features will be focused on the ease of use and security of the platform, as well as increasing the speed of transactions.
NEM 3.0 will include the following new features:
The NEM Foundation has been working on the development of NEM 3.0 for over two years. The current version of the NEM Blockchain platform is still in its development stage and is called NEM 2.0. The NEM 3.0 testnet is expected to be available for testing in the first half of 2019. As soon as the testnet goes live, the NEM Foundation will start to release the source code so that community members can develop and start using the NEM 3.0 blockchain.
Lightning Network
The NEM Foundation has been working on the development of the NEM 3.0 blockchain platform since May 2018. It is still in its early development stage. The primary focus of the project is to solve the scalability issue of the previous NEM blockchain platforms. The project is still in its initial stage. There have been no updates so far on the work on the NEM 3.0 project. The team is still working on the development of the project.
Atomic Swaps
The NEM Foundation has been working for years to pass the Network Upgrade Module 3.0 (NEM 3.0) proposal as soon as possible. The proposal is designed to make atomic swaps easier. If passed, the proposal would enable users to trade directly between different assets on the NEM blockchain, like cryptocurrencies and tokens. The proposal was submitted to the NEM Foundation on May 27, 2019. It will be up to the Foundation to determine if the proposal is passed.
Smart Contracts
The Corda Networking platform has been in development for over five years and made a lot of progress. Since the beginning of 2018, the NEM Foundation has been working to update the technology to the latest version of the NEM blockchain, version 3.0. The smart contracts of the NEM blockchain have been rewritten to increase security and remove bottlenecks. The technology is also scalable to millions of transactions per second.
Private Messages
The NEM 3.0 upgrade will be mandatory for all NEM blockchain nodes from December 31, 2018. If your NEM blockchain is not up to date, you will not be able to send or receive any blockchain transactions. You will not be able to access your account balances, and any DApps you may have installed will be rendered useless.
Community Governance
Yes. The NEM Foundation held the second annual NEM Community Governance Conference in Singapore on October 11th. There were over 400 attendees, and the conference covered the development of the NEM 3.0 technology and community. The conference ended with the passing of the resolution for the NEM 3.0 technology and the release of the community constitution.
Conclusion
NEM 3.0 has yet to pass. There are still questions about the lockup period, how to determine what is a quorum, and what happens if a quorum isn’t reached on a particular block. If the community can put these questions to rest, then the project could be on its way to achieving the milestone of passing the testnet version of NEM 3.0.
Related Links
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