Review on NEM by Filip Radevic

Name: NEM
Item: NEM
Rating: 5

August 28, 2018

A new blockchain project that is NOT based on Ethereum. (can be viewed as an…

A new blockchain project that is NOT based on Ethereum. (can be viewed as an alternative to Ethereum)
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Pros

NEM is overall improved by writing the code completely from scratch in Java: It can handle 3000 transactions per second, while only 3 to 4 transactions can be processed per second in Bitcoin. Introduces “namespace”: Namespace is like a domain name system that can be used to create a unique place and subdomains for businesses. Use the new Proof of Importance(PoI) algorithm

Cons

The official website is still not easily understandable for standard users. Mass adoption is less likely to happen if people are not well educated with NEM’s features. As Ethereum is widely accepted and has no significant drawbacks now, it is hard to see people switching to NEM. The number of users is something to concern about.(I personally will stick to Ethereum for development, but will keep an eye on NEM.)