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Review on NEM by Daniel Reinhardt
NEM (New Economy Movement) is a blockchain technology project built to service…
NEM (New Economy Movement) is a blockchain technology project built to service business enterprise to power their private mission-critical infrastructure. NEM was developed from scratch, building its own blockchain from the ground-up it has some notable differences from other similar projects including ‘harvesting’ and ‘proof of importance’. NEM has a native token (XEM) that is used as a digital asset and spending currency. I think it will develop in the future
Pros
- Interesting Technology: NEM Smart Assets are called ‘mosaics’ and resemble digital assets like bonds and securities as a cryptocurrency or crowdfunding tokens. Delegated Harvesting is NEM’s alternative to mining, where account holders who have staked 10,000 XEM can attach their account to a node to build blocks on the blockchain. Accounts talk to each other to record and verify transactions and earn transaction fees as a reward.
Cons
- the question of how we deal with spam isn’t exactly the right question. This assumes our network sucks and has to be protected against spam. In reality, we want lots of transactions. Bring it on. That just means more money for harvesters. We just want real transactions, not malicious ones, so just in case there was an attack where somebody was trying to stop another person’s transactions, it would be really hard, cost a lot (several million $US), and would take a lot of advanced planning.
