NEM.io president Lon Wong explains what’s next for NEM
Lon Wong, founder and president of NEM.io, spoke with Crypto Finder about what's new at the company, and what's in store for the future.
Interview from Blockchain Week London on 23 January 2018.
Read the transcript:
What's new for NEM? What are you offering now?
We have been around for four years. We've understood, we have seen how the NEM version 1 has performed. I must say that I'm very happy with the performance so far. It hasn't failed us and what we have done now is to release, in fact, we have actually released version 2.0.
And version 2.0 essentially gives us much more power in its performance, and one of the most outstanding features is the ability for us to transact at 4000 transactions per second. And the other feature is the way the architecture of the servers are being designed.
And if one understands the web architecture, which is the multi-tiered solution, we follow strictly to that, and therefore, it is very much a scalable solution that we can actually make use of with this technology that we have.
Your blockchain technology can be bought individually or as part of an existing blockchain. Do you think this sets you apart?
Buying into an existing blockchain is more so of a business decision, but we do have things like it being used separately and downloaded from our GitHub sort of thing. But having said that, I must qualify that we are not there yet in terms of giving this option of downloading it for free at the moment, and then use and modify upon the blockchain that we have as an open-source project. So, essentially, this will happen sometime this quarter.
Is there any conflict between offering both a native currency and operating what essentially turned into multiple blockchains?
Yeah, well you could say that, but I think we are looking at the greater scheme of things, right? I mean, there are times when enterprises or even individuals who just like to use the public blockchain to do simple tasks and to supplement their businesses. Or, enterprising, choosing to use the enterprise class to power their businesses. So there will be a mix of use, both the public and what we call the private chain, which is the enterprise-class solution.
Can you tell me how you see that being scalable?
If you were to look at how the web architecture is done, basically it is a multi-tier solution where you can have an application server and we have what we call the application gateway servers that sits on top that serves the transaction requests. And then we have the database solution that's where the blockchain sits, so we segregate that and we allow that to scale horizontally so that we could actually accept more transactions per second. And that's essentially what it is.