Review on NEM by Fanuel PORPORTY
The smart assets blockchain
NEM is therefore a programming platform that allows anyone to come and program a smart-asset. Scalability is one of the major advantages of the NEM platform which can manage up to 100 transactions per second against 15 transactions per second on the Ethereum platform.
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A smart-asset can be a currency, a stock, a bond or many other things. In fact, if you want to create a financial instrument that does not yet exist, with characteristics imagined by you ... well, you can do so thanks to the NEM network. You can create a new asset category (mosaic dataset) in which many assets can be created. I'll give you the example of a financial product, but a Smart-Asset may be a document or a contract (insurance, loan, crowdfunding, voting for example).
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As you can see, NEM is a technology that opens the doors to many uses while remaining accessible and equipped with a programming language already widely used.
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Pros
- One of the advantages that NEM has over Ethereum is that the code used is Java, whereas Ethereum uses its own programming language (Solidity) which is much less widespread (for the moment). A company that would use the NEM network to make a blockchain would make it easier and find it easier to find competent developers.
- it offers companies a private blockchain called Mijin. This private blockchain can be used free of charge by a company to carry out internal transactions. If an organization using Mijin performs a public transaction on the XEM network, it must use XEM tokens.
Cons
- Private blockchains do not necessarily use the digital currency XEM. The success of NEM therefore does not necessarily imply the success of XEM;
- The asset digitization platform segment is very competitive.
