А New Economic Movement – NEM Nowadays despite some problems with the legislation in some countries, the Asian cryptocurrency market develops quite rapidly. Japan, Korean, Chinese.
More often investors choose other cryptocurrencies but not a Bitcoin.
Today we talk about a quite interesting cryptocurrency NEM.
Picture from the Internet
Recently we talked about NEM like a fairly new project. But it is very perspective.
Think about it - the platform was launched just over a year ago in 2016. And at the time of a writing this article, the NEM has already occupied the 7th place in terms of capitalization in the world. On the exchange NEM is called XEM. In completely dry figures a market capitalization is about $ 2 billion when the cost of the coin is only $ 0.22. Why this project has captured hearts of investors?
And where is this popularity from? A skilled team of programmers didn’t follow the creation way of a regular fork-branch from Bitcoin and they wrote NEM- blockchain from scratch. The blockchain has an opened source code and many interesting options. For example – a multi-signature and a creation their own multi-signatures, a creation custom assets. Later we’ll talk about technical features of the platform. So much more interesting that the NEM’s team and the Tech Burea company became partners almost from the start. The Tech Burea company is a founder of the Japan cryptocurrency exchange Zaif.jp. An emergence of the Mijin platform was as a result. Mijin is a NEM’s fork. The Mijin chain is a platform for a creation a private blockchain. And at first for the financial sector. Now many banks in Japan, China, Malaysia integrate Mjin in their activity. And it’s a great decision! The public NEM and the private Mijin allowed the token XEM to grow nearly 37 times!
NEM’s advantages and features:
- Decentralization. Everything’s clear - all cryptocurrencies are decentralized.
- Diversity. You can use public NEM and it’ll be more logical to create a private blockchain on the Mijin platform for large business.
- The NEM block generation is only 1 minute. It tell us about the highest speed of a transaction – about 4000 operations per second. The unique algorithm of the consent POI. Later we’ll talk about it when we’ll discuss the NEM mining.
- The safety and reliability of the NEM system were checked and confirmed. The trust of the largest Asian banks is the best argument.
- A comfortable use. An official smart wallet Nano Wallet is very simple. The Nano Wallet is presented on all popular desktop and mobile OS.
We should also talk about the NEM mining. Initially 9 billion XEM tokens were released. And the number of these tokens won’t increase. The coins mining in the system is called the harvesting. The NEM company developed the special consent algorithm POI – proof of importance. But actually it is the classic modified POS – proof of stake. But there is an important thing. Everything’s is very simple in the standard POS. Coins are mined faster when there is more money. It can lead to a drop in the price of the token. And really why do we spend any transactions? Money makes money! The decline of using will lead to the drop in the price of the token. In the POI algorithm it is not so important how many coins have you got. The activity and the transaction count of a miner-harvester is more important here. Money shouldn’t lie idle, it should be used! Everything’s fairly and honestly.
Everybody can become a miner-harvester. It’s enough to have an account on 10 000 XEM in your Nano Wallet and then you should install a masternode. There are only 9 billion coins and new coins don’t appear from anywhere. The award to the miner is issued from a commission for a transaction confirmation through the production of new blocks. Anyway if you don’t want or can’t mine, you can buy XEM tokens on any large exchange.
And now let’s resume everything – really NEM is the strong investment project and new economic movement. The Asian market’s temps are very serious and XEM tokens should be in every investor’s portfolio.
Dear investors! Do conclusions about NEM’s perspectivity!
P.S. : This article was written by me a few months ago on the Russian resource. Began to translate to post here. Thank you.
