Local harvesting
It is a default option. It works only while the user’s computer is running and as long as remote NEM infrastructure server (NIS) is connected. Advantages are that no setup is required. The user just has to click on “Start local harvesting”. Disadvantages are that it is more expensive since the computer must be running.
Delegated harvesting
It requires a connection to remote NIS. Delegated harvesting must be activated explicitly. The activation of delegated harvesting has to be done only once and it costs 6 XEM. After 360 confirmations (up to 6 hours) the activation is completed. The user can check the harvesting panel which indicates whether harvesting is ACTIVE or INACTIVE.
Advantages are that harvesting is permanent even if the computer is switched off (remote NIS harvests on user’s behalf). So it is more cost effective. However there is one risky point.
For delegated harvesting remote NIS needs to have the user’s private keys so the keys are sent via network. Key transfer is highly secured. Please carefully read the documentation to activate delegated harvesting in a secure way.
Proof of Importance (PoI)
Proof of Importance was first developed for the NEM blockchain platform. Similarly like the PoS network, the nodes compete on who will verify the next block. This is determined with the “importance” of each node. The importance score contains factors like amount of the blockchains coins held, amount of transactions in the last month, and more. This provides a positive difference opposed from PoS where the argument could be it benefits mainly crypto hoarders.
FAQ
The Nem block is mined every ASIC. But this block is then divided between all miners. How long does it take to mine 1 block of Nem for yourself depends on your hash rate, which is basically how powerful your mining setup is. For mining Nem you will get the best results with using gpu.
It is difficult to say how much does it cost to mine 1 block of Nem because it depends on the price of your electricity. But in general, if you want to be profitable, you have to invest in specialized mining setups called ASIC. They are created for mining cryptocurrencies, and because of that, they have perfect parameters for this job together with high efficiency.
Although it is entirely possible to mine Nem on your computer, you should consider investing in the ASIC mining setup if you are serious about cryptocurrency mining. Actually, the best way how to mine Nem is the gpu. Anyway, if you really want to go with the computer way, try to join some miner pool.
In the beginning, you can try mining Nem at home with your computer. Once you get more experienced in mining, you can invest in gpu. That is the best way how to mine Nem. But make sure to check mining profitability charts, so you are not just burning money.
Mining Nem on Android is straightforward. All you need to do is install an application called MinerGate. After you have installed it from Google Play Store, create an account, and you are ready to mine Nem on your Android.
Unfortunately, it's not possible to mine Nem on iPhone. Apple restricts it because mining caused damage to hardware. All the applications that were mining Nem drained battery generated excessive heat, or put unnecessary strain on device resources, what is the reason it's now forbidden.
If you want to be a serious Nem miner, the first step you should do is join a miner pool. They will help you with your setup and guide you in the beginnings. Then it would be best if you bought, of course, some gpu to get as much value as possible.
It's complicated to say how profitable is Nem mining because it varies person from person. It depends on many variables like the cost of electricity, cost of a mining setup, taxes, etc. The best way you can do is to check the Nem profitability charts. They will tell you how profitable is Nem mining in your location.
A Nem miner is just a computer. The main criterium you should look for is efficiency compared to electricity cost. Anyway, it's usually better to buy specialized, professional miners called ASIC. Or you can use gpu, which is the best way how to mine Nem.
The best way to start with Nem is to start from the beginning - that means mining. This way, you get your hands dirty and get some super relevant experience with this cryptocurrency. For mining Nem, we recommend gpu as the best way how to mine.
I think the last paragraph is a bit misleading - it is the delegated private key not the actual private key - For delegated harvesting remote NIS needs to have the delegated private keys of the account.