NEM has launched its version 2.0 blockchain engine- ‘Catapult’

On 12th of this month, ‘NEM official’ announced about the launch of its blockchain engine’s version 2.0 on Twitter. Audience’s excitement can be well estimated by the two hundred and sixteen likes and eighty-seven re-tweets of the post. What is unique about this blockchain engine is that it is backed up with smart contract plugins that enable the engine to be compatible with both the private as well as the public networks. It is also much more efficient and faster as well as there are huge improvements made on the scalability factor.

Let’s dig into Catapult a little further:

NEM’s official blog gives us a deeper insight into the construction, features, and uses of the blockchain engine. So here is a quick run through a few insights,

  • The smart contract plugin serves beyond the private and public networks too. They help in the creation of the “bulletproof digital asset, decentralized swaps, advanced account systems, and business logic modeling.” As per the blog, this will turn into NEM engine in the next phase.
  • It comes with ‘multi-signature at various levels’ accounts.
  • It also allows “Aggregated Transactions” which are responsible for clubbing numerous transactions into one. This requires all the involved parties to sign the transaction so that the transaction goes through in one go. According to the blog- “Catapult is the only blockchain with this feature.”
  • Other features include “Decentralized Swaps, Automatic Transaction Fee Payment, Multi-Asset Escrowed Transactions.”
  • Privacy is taken care of even in the multi-level, multi-signature structure. During the transactions, the sensitive information, such as the private keys, and other…

Source Link