Review on NEM by Inioluwa Okedeji
NEM: A Cryptocurrency Project With Convenient Use Of The Blockchain Technology As It's Main Focus.
Countless projects and upgrades to existing ones are fast rising in the cryptospace this very moment, from hardforks, IMOs, swaps, token burns and other ones that will ensure that crypto related companies are constantly developing and not left behind at the speed in which the cryptospace is moving and evolving.
NEM has been an existing crypto project, with the sole purpose of providing efficient and effective instruments that'll ensure that blockchain technology is conveniently managed. And through the years, this project has developed its ecosystem with blockchain technology to be able to manage any form of asset affiliated with the blockchain technology. This makes it one of the best cryptocurrency projects when it comes to the management of digital assets.
The NEM ecosystem has really grown since the time it was established and I also recently discovered the addition of a new project to their ecosystem. This shows the progress rate of this project. NEM is also in partnerships with many associations, prominent projects and exchanges all of which have contributed and are still contributing to the development of the project.
More research on this project showed that the NEM ecosystem is made up of ;
NEM NIS1: a protocol that makes it possible for the API interface to be compatible with any computer programming language.
Symbol: I discovered that this part of the ecosystem is just about to be launched. And it will ensure the possibility of connecting businesses with blockchain technology.
NEM Ventures: This part of the ecosystem deals with identifying and investing in innovative projects with the use of blockchain technology.
NEM Community: This section is made up of the members of the NEM project around the world. This community stretches and covers many social platforms around the world including websites in Japan, Italy, Russia, China and Spain.
The major advantage the NEM project brings to the crypto community is the convenient use and management of blockchain technology and it is doing just that. I even read that NEM project will have 2 blockchain networks in its ecosystem, which will literally make the NEM ecosystem a force to be reckoned with in the cryptospace.
Finally, apart from what this project as accomplished so far, I still believe that the NEM project is just getting started and that more developments and amazing innovations will sprout from it. And as its name implies New Economy Movement, it indeed is moving the economy of the world positively.
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Pros
- NEM uses a peer-to-peer system of messaging and a POI algorithm, all which strengthens the NEM ecosystem security-wise.
- This project has its own token, the XEM token which can be bought on exchange like uniswap and moonpay . There's also the opportunity of staking XEM token on the NEM platform and earn staking rewards.
- Unlike the mining process of preceding cryptocurrency projects, NEM engages in a process known has harvesting that allows one to connect ones account to existing supernodes. This makes block-time much faster.
- NEM has partnerships with various exchanges and projects in the cryptospace, such as Coinbit, Kucoin, BitMax, HitBTC, just to name a few.
Cons
- I can't point out any demerit to this project at the moment.
