The NEM 2.0 upgrade was initially planned for the end of 2016. However, after the first quarter of the year the development team experienced challenges that prevented them from moving forward. They have now re-evaluated the project and will continue to move forward with the project. The team is making adjustments to the timeline to better align with the needs of the community and the project’s longevity.
No, it isn’t. NEM 2.0 was a temporary solution to the problems that NEM 1.0 had.
The transition period for NEM 2.0 is still ongoing. In fact, it will end when the first genesis block is mined on the new blockchain. There will then be a mandatory upgrade for all NEM nodes, in order to be compatible with the new blockchain. Therefore, any attempts to use the old blockchain will be rejected.
NEM 2.0 was designed to ensure that the NEM blockchain would continue until a permanent solution could be found.
As of October 20, 2019, the latest version of the NEM blockchain is the 2.0 version. The 2.0 version is still in effect. Although there is no official word yet on whether the current version of the blockchain will continue to function after October 20, 2019, the community has been discussing it at length.
NEM 2.0 was designed to be a temporary solution and was adopted for the length of the current lockup period.
While the original lockup period for the Nem Asset Exchange ended on October 31, 2019, the Nem Foundation published a new lockup period ending May 31, 2020. This means that the new lockup period will end before the finalization of the Nem 2.0 upgrade. This means that if you need to wait until the upgrade is complete before transferring your NEM assets, you will need to do so before May 31, 2020. However, you will still be able to use your existing NEM accounts and funds during the lockup period.
NEM 2.0 is still in effect.
Yes, it is. The team at NEM is committed to making the shift to an upgrade from the first version of the NEM blockchain, which is called Nem 1.5. This is a gradual process that continues to be executed. The team is committed to using the latest technology to ensure the security of the NEM blockchain is not compromised.
The lockup period was set at a maximum of three years from the first issuance of the tokens.
Yes, the lockup periods will apply to all NEM 2.0 assets, including the new token pegged to the XEM asset, the NEM Blockchain Asset Exchange (NBE), the XEM Cryptocurrency, and the NEM Supernode network.
The lockup period was set at a maximum of three years from the first issuance of the tokens.
Yes, the lockup periods will apply to all NEM 2.0 assets, including the new token pegged to the XEM asset, the NEM Blockchain Asset Exchange (NBE), the XEM Cryptocurrency, and the NEM Supernode network.
The lockup period is set at a maximum of three years from the first issuance of the tokens.
Yes, the lockup for NEM 2.0 is still in effect. There will be no more lockup releases after the end of the lockup period. However, you can still sell or transfer the NEM 2.0 tokens that you have in your wallet, provided that you have already submitted the withdrawal request.
Conclusion
Yes. NEM 2.0 has not been officially retired or replaced. The latest version of the NEM blockchain is still NEM 2.0. There are no plans to replace it. In fact, no new features and improvements have been added to the NEM blockchain since version 2.0. The only difference is that the development team now oversees the entire NEM blockchain. NEM 2.0 is still the most advanced version of the NEM blockchain.
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