Review on NEM by Saloote Sakai

Name: NEM
Item: NEM
Rating: 5

March 12, 2021

NEM

In this review I want to examine the NEM algorithm and say why NEM is great.
Other cryptocurrencies and platforms are based on consensus algorithms such as Proof-Of-Work POW or Proof-Of-Stake or POS for short.
In fact, these platforms require an extraction or mining device, and obviously the achievement of this extraction also reaches the miners or extractors.
Or, for example, in a POW system, an extractor or miner with a more powerful device will have more gains than other weak extractors and miners. Other information about PoW is its strong need and dependence on the energy and fuel required to perform the extraction operation.
But in this system, the more coins you have, the more mining operations you can do. Therefore, it can be concluded that the POW system leads its users to save and save coins, not to spend them.
But this is not the case with NEM. In fact, the letter I in this term refers to the word Importance or importance and indicates the importance that NEM attaches to people investing in this network. NEM's focus is more on its users spending or transferring currency than on accumulating and storing it.
To lead people to this goal, it has also provided conditions in which people benefit more.
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