What is the difference between ethereum and NEM?:
NEM is faster, safer and easier to use, but Ethereum has a broader way to create custom decentralized apps.
A major difference is that Ethereum put its code called "smart contracts" on to the blockchain and NEM uses code off the blockchain.
Code on the blockchain is hard to fix if there is a bug or an exploit, so writing data management apps can be a hard process in Ethereum. There is a lot of risk involved, NEM has a solution for this problem, NEM would only put data and assets on the blockchain, making it lighter and faster. NEM comes with a bunch of data management apps built right into the client. These are called smart assets!
Smart assets allow you to create data records and tokens and crypto's and voting systems with only a few clicks!
The tradeoff:
If you want to create customized smart contracts with NEM, you should host them on the company's computer, they are decentralized.
Ethereum is aiming at companies that are willing to rebuild internal networks in the next 5 to 10 years. So, they want to work
with Ethereum's customized smart contracts. It is time consuming and costly.
NEM is aiming at companies that want a blockchain solution that's ready to use, handle most data needs, 100% secure, fast and compatible with current systems. You don ‘t need a team of programmers for NEM.
Check video:
Appreciate the info, just my 5c... I don't see nem as a direct competitor to ethereum... The smart contract language in nem isn't turing complete the way eth is so they fill some different only occasionally overlapping niches
NEM has an API, not a language like Solidity. There is no bytecode run from the blockchain. That video explains how they target different customer bases and the time to market.
My .02, I've only seen iDice as the pinnacle software released with ETH, the rest are give me your money and see what I might do with it. When I browse Mist I see a lot of nothing, mostly crowdsales. With that saiid, yes, I mine ETH.
Very useful. Thank you!