I know that most of you don't have the time to search for new ICO's, cryptocurrencies and blockchain projects every day, so I am presenting to you another promising platform that i think has future despite of the recent market saturation.
NEM is a global open source project. It is a peer-to-peer blockchain platform and is written in Java and JavaScript with 100% original source code. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure and encrypted messaging system, multisignature accounts and an Eigentrust++ reputation system.
NEM has gone through extensive open alpha testing starting June 25, 2014, followed by lengthy and comprehensive beta testing starting on October 20, 2014. NEM finally launched on March 31, 2015.
This is how the guys from NEM describe their project.
When you send money to someone, all the up-to-date nodes see it, and they tell everyone else. They want to be important and ‘harvest’ because they all get a chance to get some free money. Now that everyone knows you have sent money, everyone also knows that someone else owns that money. You can’t send it again or pretend you never sent it. With the help of ‘Proof of Importance’, we can make sure that people are sending money around and keep them from trying to lie to get free money. This means that the only way to get the free money is to ‘harvest’ without lying about what is happening on the ‘Blockchain’.
So far, we have only been discussing people using NEM to send money, but actually NEM does a whole lot more (it’s what we call a ‘Next Generation Blockchain 2.0 Platform’). The same advanced mathematics used to send money can also be applied to any type of data we want to store on our 'Blockchain'! Though harder to understand for a beginner, we have the ability to store anything from official documents like birth certificates, all the way to other assets or shares in large companies. NEM can send messages, encrypted (it means secure and private!), unencrypted, and hex messages (a format of messages used by programmers). NEM has a built in system for people to register names called Namespaces. These names can be used to run a business on the blockchain. It also has a way for people to create their own assets. This asset feature is called Mosaics and allows for many different kinds of assets to be made with many different properties. NEM also has a unique m-of-n multisig feature built into the protocol that allows for single accounts to have multiple signers, like a joint bank account. ‘M-of-n means something like 2-of-3 or 5-of-10. NEM has a network of nodes called Supernodes. A Supernode is a server that is harvesting and telling other computers on the network about the transactions taking place, but these servers are stronger and faster than average. Because they help other computers so much, they get paid bonuses for their work. And NEM has many more features to come!
So, if you’re a beginner - come join our secure network and be a part of the NEM ecosystem! If you’re a developer looking for a new project, we have a very active development community that is always coming up with awesome ideas! And please stay tuned for a few more ninja releases in the coming weeks!
