Review on NEM by Temitope Babatunde
Nem a Project With Multiple Usage
New Economy Movement (NEM) was launched in 2015, its native coin symbol is XEM. Originally from the fork of NXT coin, but it was later rebuild from scratch by NEM foundation which is a non profit organization based in Singapore.
Nem is popular for its proof of importance (poi) and harvesting protocols which is a total deviation from what is obtainable in the blockchain where pow or pos is the common protocols . Nem believe that what is important is the amount of xem that you hold that is how much one invest into the system.
The software has multiple usage one of such is in a commercial blockchain called Mijin, which is now been use by some in Japan and some other countries. It is also useful in financial payment, equity market, rewards of points for loyalty etc.
Nem has ability to interface between public and private blockchain.
Nem has ability to interface between public and private blockchain. The code used in developing Nem software is Java script. The wallet that Nem supported is called Nano.
Presently xem can be found in majority of the crypto exchanges. You can also be interested in running its supernode through which you will be earning some xem.
Pros
- It can handle 3000 transactions per second
- It is an energy efficient crypto, in that one don't need special hardware to mine it.
- It has a real life usage, like using it to transfer any digital asset.
- Nem has a native coin called Xem
- It offers both permissions and permissions free solution
- It has multisignature accounts.
Cons
- To participate in the supermodel you have to hold at least 3 millions xem, which is too much.
- It has too many explanations before one can understand, so average users may be running away from it.
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Comments (1)
June 09, 2020
I really like this coin and I don't know why it still finds resistance in its value in the crypto market, perhaps due to the large amount in its supply. But I believe that in the very near future Xem will be among the top 5 in market value for sure.
