07 Jul Tweet update 07/07/21 🏴󠁧󠁢󠁥󠁮󠁧󠁿 ⚽️

It’s Wednesday and it’s time for the daily tweet update! Today is a big day for the England football team and for me as I am off to Wembley this evening to watch the semi-finals between England and Denmark!! I’m nervous already 😬

OK, enough about football for now. I will get you up to date on the latest from the Symbol community!

How to set up a Symbol node

@bestgoldangel starts us off with a translation of @AI27982784 (Chipmunk’s) tweet. It seems that there is a new guide to setting up a Symbol node on nemedia – it’s in Japanese but you can access it here. We have a guide in English to setting up a node on Windows 10 coming soon and I know of a great guide to setting up a Linux node on the NEM forum which I will see if we can get permission to reproduce on the blog in the future.

Freedom!

Thanks @SamiurR76186237 for translating this tweet from @nembear for us! nembear discusses the freedom of choice in the crypto world. Specifically in this case that the node owner is free to choose whatever minFeeMultiplier they want. nembear is encouraging experimentation and diversity in fee settings that would benefit a variety of different types of user.

School of NEM

Hope that you guys are ready for today’s lesson from @SchoolofNEM! Thanks @bestgoldangel, @DjCellBlock and @RadioRa26841511 for the translations!

First tweet is about accounts and mosaics. Apparently they can be linked to many different namespaces (I didn’t know this). However a namespace can only be linked to a single mosaic or account.

The second tweet sent in explains Symbol rewards. A total of 1.17 billion XYM are set aside for block rewards. The block rewards decrease over time based on the same model as Bitcoin and after 120 years(!) block rewards stop completely. The Bitcoin model halves rewards every 4 years leading to a sudden, large reduction at each halving event. Symbol however increments these changes gradually with rewards being slowly reduced every 3-months. This still results in the same halving of rewards over a 4 year period, just without the sudden, severe drops.

Finally School of NEM introduces us to NEMGraph. I have actually used NEMGraph in the past and it is fantastic! You might see my cats Udon and Satoshi on there if you look hard enough 😁. As explained in the tweet the site provides a picture sharing social platform allowing users to show off their photography skills by posting pictures and connecting with other users on the platform. There is a “RiNG” feature which inscribes proof of ownership of a posted image onto the blockchain. If I remember correctly I think that you can receive tips for your photo posts too.

There is an English language version (just change the language in the top left hand corner) so please go check it out and give it a try for yourself, it is well worth it!

Thanks!

Thanks again to all contributors and to you the readers! If you are looking for something to watch tonight then tune in to watch the game at 20:00 UTC+1 and if you’re a neutral then cheer on England please! 😁 Maybe you’ll see me in the crowd, I really hope I am not the guy crying on TV 😂

NineLives

I’m a Symbol and NEM enthusiast and run this blog to try to grow awareness of the platform in the English-speaking world. If you have any Symbol news you would like me to report on or you have an article that you would like to publish then please let me know!