1 Level
12 Review
4 Karma
Review on NEM by ikrar nusa
Have a special messaging feature. No XEM needs to be sent in order for aβ¦
Have a special messaging feature. No XEM needs to be sent in order for a message to be sent. Transaction fee of sending a message is also calculated in a different way(low cost compared to traditional messages that can be added in a block). For unencrypted messages, it charges 1 XEM for every 32 charactersm while the price for encrypted messages varies.
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Pros
- Use the new Proof of Importance(PoI) algorithm: Compared with Proof of Work depending totally on hardware mining abilities, this algorithm takes into account how many transactions are made and the total token amount in an address. This incentivizes coin holders to carry out transactions, which helps the growth of the network in the long term.
Cons
- As Ethereum is widely accepted and has no significant drawbacks now, it is hard to see people switching to NEM. The number of users is something to concern about.(I personally will stick to Ethereum for development, but will keep an eye on NEM.)
