NEM (XEM)

Nem

NEM is not a cryptocurrency. In principle, it is a blockchain platform and p2p network for the development of a decentralized economy based on equal opportunities and financial freedom. NEM uses its own crypto currency, the XEM, but also has a p2p communication system and a system for making virtual goods. The XEM from NEM can be purchased at a good cryptocurrency exchange such as Changelly.

Why should I use NEM when I can already opt for Bitcoin?

Bitcoin is the best cryptocurrency, but is not easy to use as a platform for application development and requires a lot of computing power. NEM is a platform for developing new block chain solutions and is a much lighter network. It does not require much computing power, among other things, to run a node (full copy of the blockchain) on a computer. NEM does not use a PoW algorithm that requires enormous computing power to keep track and validate the block chain.

NEM uses a Proof of Importance (POI) algorithm in combination with an internally developed Eigentrust ++ solution to validate transactions and secure the network. Within the NEM network, anyone with a computer can participate in the network and harvest XEM. PoI can be compared to a Proof of Stake (PoS) algorithm, but with the important difference that it is not only about who has the most XEM on their wallet. Other considerations are taken into account based on behavior that has a positive influence on the development of a dynamic economy. Activity is also rewarded, rather than passively holding XEM in a wallet. This makes NEM unique.