NEM (XEM) is now going to be the world’s most secure, scalable and most hopefully very popular smart contract platform in the world. The statement sounds a little unlikely keeping in mind the superiority of Ethereum in the same domain.
However, the recent announcement by NEM development team on the NEM Catapult (Mijin V.2) blockchain is prepared with the best resources for an overwhelming success.
The coin first announced of the release of Catapult way back in 2015, keeping the NEM community in the dark for a little more than a couple of years. Now the official announcement indicates that the beta release will be available to some community members, partners and other willing customers. This is would be done in 3 phases :
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counter-party risk.
Some problems in the Ethereum infra are :
For a first counter, NEM fairs better in the speed of transactions and scalability. However, the problem of security haunts it as much as it does Ethereum hence the need for the Catapult.
Thus, once NEM Catapult beta testing is completed, it is believed to completely take over Ethereum.
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