NEM’s blockchain will make WeChat unhackable, says NEM’s VP
He shared the future advancement plan to integrate the coin’s blockchain into the WeChat application. The blockchain developed by NEM Foundation makes WeChat more secure and tamper-proof.
He further explained how features of the digital asset’s platform were different from conventional blockchain systems of cryptocurrencies such as Bitcoin and Ethereum. It utilizes a plugin feature that permits uninterrupted and smooth communications and transactions. McDonald strongly believes that the plugin- part of a product called Catapult will significantly transform the blockchain technology.
He was quoted as saying, “ The products that NEM and Catapult create is not just a step in the right direction for blockchain technology but also for mainstream public consumption. For example, we have partnered up with LoyalCoin in the Philippines to create a system where people can walk into a café and pay for their food using Loyalcoin.”
Also, he explained how the cryptocurrency’s blockchain is different from Ethereum blockchain. The Ethereum blockchain has one token based on it, which is the ETH. The ETH token permits it to be processed for transactions. On the other hand, NEM blockchain uploads all of its coins into the cloud using Application Programming Interfaces [APIs].
Jeff confidently stated that no user had lost any coin on its blockchain and that their coins were present on their wallets every single time.
In addition to this, he pointed out that Bitcoin uses a sequential blockchain which makes it secure and safe for transactions. According to McDonald, NEM blockchain uses a layer-based system and all the data stored in the first plugin layer can be transferred to the MongoDB layer. This layer will enable to give power to manipulate and develop products by their design.
He emphasized the positive side of one-step transactions and explained how NEM’s blockchain technology will help to bring progress in the field of cryptocurrency.
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