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Blockchain platform NEM increases XEM rewards for Supernode program

Japan-based peer-to-peer blockchain solutions platform NEM has announced the successful completion of its trial Supernode rewards program and has increased the XEM rewards for high-performance nodes from 70,000 XEM to 140,000 XEM per day.

According to the official announcement, the daily reward amount is split between node operators those who are meeting the set criteria starting from September 1, 2016. Supernodes are the backbone of NEM blockchain solutions platform and these ‘high-performance’ nodes help in supporting light wallets, mobile apps, and other third party applications that utilize NEM APIs. The operators will be rewarded from the Supernode Rewards Fund for specific purposes.

“The node rewards program offers the opportunity to earn money by running a Supernode while helping to strengthen the NEM network. This is truly a win-win situation,” Bloody Rookie, NEM developer said.

The Supernode rewards encourage the community members to run high-performance nodes. NEM offers these rewards via its Supernode rewards program that covers the incurred expenses while making a profit at the rate of 6 percent ROI.

NEM network uses the consensus mechanism Proof of Importance (POI) that is energy efficient. POI enables NEM node to run even on a Raspberry Pi device. The nodes running on Raspberry Pi’s does not contribute much towards network throughput but, has the capacity of earning fees by processing transactions and discovering new blocks.

In order to monitor a consistent performance of Supernodes, the node admins are required to use a delegated account bonded with at least 3,000,000 XEM to boot the Supernodes.

NEM is a blockchain 2.0 platform written from scratch using Java and JavaScript. Previously in May this year, Japanese blockchain startup Tech Bureau and NEM announced a partnership to develop a new blockchain engine, codenamed, “Catapult” – a newly amended and augmented version of the current Mijin platform. It shares much of its architecture with Mijin. 

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