Mosaic

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NEM’s asset feature is called Mosaics. The mosaics themselves are customizable by an amount in either a fixed capped or mutable quantity. They can be designed to be transferable or not, divisible or not, have personalized description, and can be sent alongside encrypted messages in one transaction. Mosaics can be applied with a levy so that any mosaic being sent on the network will have to have a special fee paid above the normal transactions fees. This levy fee can be assigned to be nem:xem (which is the mosaic notation for normal XEM coins) or any other mosaic on the NEM blockchain. And lastly each mosaic gets a name that is under a unique domain in the Namespace system.

Mosaic’s current version is a unique, advanced and customizable asset creation feature with later versions planned to carry even more additional features.

Properties of Mosaics

description

Free-text description of the mosaic up to 128 characters, changeable by the owner.

divisibility

Adding this makes a quantity divisible, up to 6 decimal places. A divisibility of 2 means 2 decimal places.

information

Arbitrary byte array that can be in the property, with a size limit; this is the same as “messages” in NEM.

domain name or namespace (required)

Globally unique fully qualified domain name that is registered and owned by the mosaic creator. A top level namespace has a size limit of 16 characters, sub-namespaces have a limit of 64 characters.

name (required)

Name of the mosaic, up to a size limit of 32 characters; must be unique under the domain name. mutable quantity

The amount of mosaic in circulation. If immutable, it is fixed, otherwise it is dynamic, i.e., more can be created or destroyed later.

transferability

If no, it means it can only be transferred between user and creator. Otherwise, it is freely transferable between third parties.

levy

A levy allows the creator of a mosaic to set a tax on any subsequent transactions of that mosaic. This levy is sent to an account of the creators choosing. Any mosaic or XEM may be used as a levy.

In future Mosaics might have their feature set expanded to among other things, include dividends, reputation, recallability, composability (ability to put assets in assets), issuer covered fees on trades, expansion of the non-transferable white list, levies to be redefinable, variable expirations, smart contracts, storage, and processing power. In addition to discussing these up grades to Mosaics, we have also discussed making Namespaces having transferable names.