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Yes, NEM 3.0 is retroactive. This means that all transactions that were recorded before the first block of the new blockchain was generated will still be valid. This applies to the entire NEM blockchain, including the accounts, namespaces, and transactions. However, transactions made via the Legacy API will no longer be visible on the blockchain.

NEM 3.0 will solve the problem of NEM 2.0 not being able to scale to the current needs of the cryptocurrency market.

No, the new NEM 3.0 technology will not be retroactive. If you have an account on the current NEM blockchain, you will not be able to transfer your existing assets to the new blockchain. You will have to migrate your existing NEM tokens to the new blockchain before the technology goes live. If you have any questions regarding the NEM 3.0 transition, please contact the team at NEM.io.

NEM 3.0 will have a new Proof of Work (PoW) consensus which will allow for the blockchain to operate at a higher speed.

No, the NEM 3.0 upgrade will not be retroactive. If you have an existing NEM wallet, you will not automatically receive the new features. However, you can use the testnet to try it out.

NEM 3.0 will also have updated smart contracts which will solve the issues of scalability and security.

No, NEM 3.0 will not be retroactive. Transfers made before the upgrade will not be affected. After the upgrade, your existing NEM account will continue to work, but new accounts will need to use the new smart contracts.

NEM 3.0 will have the ability to process up to 10,0transactions per second.

NEM 3.0 will be a major milestone for the NEM blockchain. It will include several new features and will be an upgrade from the previous version. The NEM blockchain will automatically update to the latest version of NEM blockchain once it is released. For users who are yet to migrate to NEM 3.0, the upgrading process will be seamless. However, if you have not migrated to NEM 3.0, you will still be able to benefit from the new features it will have.

NEM 3.0 will also have new encryption methods which will make transactions more difficult to trace.

The new NEM 3.0 technology will not be retroactive. It will be available for all NEM accounts, whether they were created before or after the update. However, the update will not be mandatory for nodes. Those who wish to continue using the current NEM blockchain will not need to update.

NEM 3.0 will also have the ability to have more than one public key for each account.

Yes, the NEM 3.0 upgrade will be completely backward compatible. It will not affect the current accounts on the NEM 2.0 blockchain. You will be able to continue to use the current accounts and publish new transactions to the NEM 2.0 blockchain. However, you will not be able to generate new accounts or sign new transactions on the NEM 2.0 blockchain after the upgrade to NEM 3.0.

The updated smart contracts will also allow for increased transparency and accountability.

The upgrade is retroactive, meaning previous blockchains won’t need to upgrade to the new smart contracts. However, all future blocks will be required to use the new smart contracts.

Conclusion

If you were running a NEM 2.0 node, you’ll need to upgrade to NEM 3.0 in order to continue to receive rewards. You can upgrade your NEM 2.0 node to NEM 3.0 by upgrading through the NEM 2.0 node software. After installation, you will need to wait for a few minutes for the node to restart. Once the restart is complete, you will see a notification on the node’s status page. Your NEM 2.0 node will automatically upgrade to NEM 3.0. If you do not see the notification on your node’s status page, it means that the upgrade was not successful. You will need to check the logs for the node and look for the “failed” message. If the upgrade was successful, the restart will automatically occur.

Is NEM 3.0 retroactive?