Review on NEM by Toprak Dere
About NEM
NEM is a Java-based, double-layer blockchain network. As it can be understood from the fact that the full version of NEM is the New Economy Movement, the project entered the market in 2015 with a completely different concept. In addition to supporting multiple distributed ledger networks, the NEM mainnet also has a different protocol called the NEM Smart Asset system. Network nodes in the NEM Blockchain network are also directly a part of this system.
As mentioned above, there are two different layers in the NEM protocol, one of which is a public public network while the second is known as a private network subject to permission. The two blockchain networks are also interconnected. Another factor that distinguishes NEM from other crypto money projects is that it has its own consensus algorithm and does not imitate projects such as Bitcoin and Ethereum. Using the Proof-of-Importance model, NEM offers a large scaling and growth opportunity for XEM Coin.
The importance of POI users is determined by the number of XEM Coins they have and the amount of transactions in their wallets. For this reason, NEM users continuously increase their XEM investments and create an endless circulation in the network.
ο»Ώ
Pros
- NEM is interpreted as the world's first smart asset platform. Unlike NEM ERC-20 based cryptocurrencies developed on the basis of company use, it has a specially developed database, namely Blockchain. NEM users can manage cryptocurrency, supply chain, notarization and property registration. The multi-purpose platform also has an unlimited number of use cases such as logistics tracking, decentralized authorization and ICO regulation.
- It can be said that purchasing NEM Coin is an unrepentant decision for long-term investment. Especially the different consensus protocol it has and the fact that it has two different networks can make a profit for those who want to buy NEM Coin.
Cons
- none
