Review on NEM by gregori cordova
one of the most powerful blockchain for data management with a fantastic growth in recent months
In the cryptographic environment, hundreds of new projects are created daily, each one with the purpose of having a different purpose and objectives, and each one with very valuable peculiarities and innovations. In this sense, Nem is a very ambitious project whose main objective is to develop an extremely powerful and technologically efficient blockchain called Smart Asset Blockchain, which serves as an ideal environment to manage data and assets in a simple and profitable way. Undoubtedly one of its main attractions is the particularity of creating smart assets or (Smart assets) what would be the traditional property titles, copyrights or patents that once they are in the Nem blockchain will not need any third party or notary to be transferred or registered, something that will undoubtedly allow anyone to safeguard their valuable data in a world in which data management is today a multibillion dollar industry. NEM or (movement of the new economy) works under a unique consensus called Prof of importance POI, in which no type of hardware or high-power computer equipment is needed, since its algorithm gives importance to the use that users make the platform, thus measuring the level of reward that each person will obtain. As expected, the platform has its own cryptocurrency called XEM, with which the different types of transactions that are carried out on the network are paid and which gives value to the ecosystem and is the product of a fork in the NXT platform. NEM has been preparing a project that has kept it in the eye of many cryptocurrency enthusiasts, which is an update of its blockchain called Symbol and that will serve as an institutional network for companies, giving it all the tools for the tokenization of assets and in which it will be will provide better support in terms of data management, finance or logistics.
With the implementation of an original consensus algorithm such as the one used by NEM, users are given more importance and are rewarded more equitably than in platforms in which users have to solve cryptographic puzzles, which has made it one of the most profitable projects for users who wish to earn passive income with the use of cryptocurrencies.
Pros
- Nem is currently among the 30 projects with the highest market capitalization with a sum of 3,544,526,588
- They have their own integrated wallet called Nano wallet, which we can download for free on the NEM website and through which we can start mining XEM
- Nem's real-world utilities are very varied, since it allows not only to create multi-signature accounts between several people, but it also allows creating domains on the internet, registering property titles without intermediaries, it is even an ideal platform for voting. , due to its automation and transparency.
- The price of XEM has been increasing in value in recent weeks due to the fact that a new update will be activated in the network called Symbol that will mainly be aimed at companies to seek better efficiency in terms of data management.
- Through this network, more than 1000 TPS can be processed, which makes the network more scalable than other more famous platforms.
- As I could read on several websites, the platform is preparing a competition in which about $ 500,000 will be delivered to users who operate with XEM on various exchanges, all this within the framework of the launch of the new symbol network
Cons
- The version of the wallet for smartphones is more limited than the version for PC since it only allows the sending of Xem between users
- Mining this cryptocurrency is not very economical, since you need to acquire an amount of 10,000 XEM which would currently be about $ 3,900
