Review on NEM by Danh Huỳnh Ngọc Công
NEM provides good financial blockchain solutions for business. There is a…
NEM provides good financial blockchain solutions for business. There is a number of applications which have been run on this blockchain. NEM blockchain is also a fast blockchain with high TPS. The POI algorithm is a good algorithm for incentivizing users. However, the progression of this project seems to have problems as there is few communication between the dev team and the community
Updated 5 years ago
Rating has not been changed
Positive points:
- NEM can be integrated to many type of businesses from logistics to banking to enhance the security as well as effective operation
- NEM's consensus algorithm is Proof of Importance which is a better version of Proof of Stake
- NEM blockchain has been utilized by various projects powering the curreny economy in a number of aspects
Pros
- - NEM has high TPS making it able to handle 4000 transactions per second - Being operational efficiency, NEM allows business to build their network on this blockchain by the implementation of a domain name system called "namespace" - Using a new algorithm called "Proof of Importance" which focuses on the volume of transactions and, XEM incentivizes the holders to grow the network by carrying out as many transactions as possible - NEM has its own wallet which is available on a lot of platforms - NEM has a unique messaging function - A holder who has a bag of 10000 XEM or more can start mining with a normal computer - It has already been a working blockchain which is a protocol for a number of Dapps to run on
Cons
- - NEM has very few updates for its blockchain these days and a few solutions have their information unclear - Besides, the team behind it does not often communicate with the community.
