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What is the NEM?

NEM was launched in 2015, its name means “New Economy Movement” and it is a blockchain platform that offers payment services for asset creation, messaging and other products that will be provided to as the platform evolves.

Its Blockchain technology works by proof of importance.

Proof of importance

There are several types of validation in the Blockchain technology: proof-of-work, proof-of-service, proof-of-stake, proof-of-importance.

NEM uses the POI, meaning that network users will receive an importance score based on the volume of transactions as well as the users with whom these transactions are performed.

This score will be calculated using mathematical algorithms detailed in the network white paper.

If you do not perform a transaction, the validation will be done by proof-of-stake, that is, the number of tokens you have.

Minors who are most likely to be awarded the reward due to the resolution of the next block are those who hold high scores and are thus favored.

The currency of the NEM network is the XEM, and it has aroused for several weeks a major enthusiasm.

You can like the other crypto currencies either the trader or store it.

To trade click here.

To store it use the Desktop Nano Wallet.

The applications that can be created through the NEM network touch many areas, such as creating shares, bonds or even may in the future, create marriage certificates, titles or diplomas …

This network is already being tested in Japan by private companies and financial institutions.

Recently, the network community has been trying to encourage developers to participate in the network by building strong products through NEM technology.

The only problem is that these developments have a high cost that could reach 15 million NMS.

Despite this, the NEM platform seems to be a very promising platform.

 

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