San Diego Solar News

If you are planning on migrating your existing account from NXT to NEM, you will need to migrate your NXT assets to the new NEM blockchain before the 1.0 launch. However, you will not be required to migrate your account before the official 1.0 release date. This means that if you have an account in NXT and you want to migrate it to the new NEM blockchain, you can continue to use your account on the NXT blockchain until the official 1.0 release date.

The NEM Foundation will not make any changes to the existing NEM 1.0.

All accounts registered on the NEM 1.0 blockchain will be grandfathered in. No actions will be required on the part of the NEM Foundation regarding these accounts. However, in order to maintain the security of these accounts, we recommend that all users update their accounts to the latest version of the blockchain.

NEM 2.0 is currently in its testing phase, and the Foundation plans to release it in 2020.

The development team has stated that NEM 1.0 will be grandfathered and will not be affected by the migration to the new blockchain. However, the team has not yet made a formal announcement. If you have questions about this, please get in contact with the team.

However, NEM 2.0 will be compatible with NEM 1.0.

No, NEM 1.0 will not be grandfathered into the new NEM 2.0 blockchain. New users will need to migrate to the new blockchain to continue using the platform. However, existing nodes and accounts will be compatible with the new blockchain as long as the old nodes are not shut down.

NEM 2.0 will support all current NEM 1.0 assets and decentralized applications (dApps).

NEM 2.0 will not remove existing NEM 1.0 assets. All NEM 1.0 assets will continue to exist and work as they have for the past two years. In fact, the only difference will be that they will be powered by the new blockchain. This means that an asset owner will have to migrate their assets to the new blockchain before the end of October 31st, 2019. However, if you still have an active NEM 1.0 account, you will not be in any danger of losing your assets. You will simply have to migrate to the new blockchain.

However, it will require a new way of accessing and maintaining assets, and it will use a different consensus algorithm.

The strategy of the Nem Foundation is to provide a gradual upgrade path for nodes and users, and to give businesses time to migrate to the new blockchain before making the switch. This means that anyone who has registered their NEM accounts before the hard fork will not be forced to migrate. The same applies to businesses that have registered their assets on the old blockchain. The Nem Foundation guarantees to not touch those assets.

NEM 2.0 will also have a new user interface (UI) and different APIs for developers.

We will provide support for the current NEM 1.0 APIs for existing NEM 1.0 users but will no longer update the APIs or the blockchain. This means that new users will need to migrate to the new NEM 2.0 platform. Existing wallets and services will also need to be updated to work with the new NEM 2.0 platform.

Lastly, NEM 2.0 will be a more scalable platform than NEM 1.0.

As stated previously, NEM 2.0 will be a completely new blockchain with new features and a new architecture. This means that old nodes will not be able to connect to the mainnet and will not be able to use the new features. The good news is that, in any case, the developers of NEM 1.0 will not stop working on this version of the platform. In the case that the community decides to keep working on the current blockchain, the older nodes will be able to stay in the network. This means that the platform will keep working the same way it did before, but with a much lower capacity.

Conclusion

If you are still using the old version of the NEM blockchain as of the end of this year, you need to upgrade to the latest version by December 31st, 2018 in order to continue using the blockchain. Otherwise, your account will be frozen. However, if you have already purchased a Nem Labs token, you will automatically be moved to the new blockchain.

Will NEM 1.0 be grandfathered?