1 Level
12 Review
7 Karma
Review on NEM by QUAN VU VAN
The NEM developers are pseudonymous but are still largely trusted by the NEM…
The NEM developers are pseudonymous but are still largely trusted by the NEM community. The key figures leading the NEM foundation have a public identity, while all of the developers do not reveal their real identities. NEM was started by a Bitcoin Talk forum user called UtopianFuture who was inspired by NXT. Long Wong, is the Founder and CEO of Dragonfly Fintech, a blockchain technology company and is the President of the NEM.io Foundation.
Pros
- NEM’s main mission is to be a customizable blockchain platform for various use cases, including fintech systems, tracking logistics, ICOs, authentication etc. NEM’s consensus system, which is called “Proof of Importance (POI),” achieves consensus based on network theory, overcoming the energy and spending issues that come with Proof of Work and Proof of Stake.
Cons
- NEM’s primary vision is to be a cryptocurrency that is not just a currency, but an all-encompassing ecosystem that prioritizes security and advanced trustless computing and consensus mechanisms. NEM’s USP is focusing on developing an intuitive method of blockchain development for a developer.Tests have shown that NEM can handle 100 transactions per second, but Catapult upgrade will allow for more transactions, and a “push-pull” feature, which will allow a user to send in one coin, and the receiver to receive in another coin.
