Posted on April 2, 2018
NEM is built from scratch as a streamlined platform for application developers of all kinds, not just as a digital currency. NEM is built around a powerful system for customizing your use of the blockchain.
Their Smart Asset System, gives you the power to use NEM as if it were a custom blockchain built for your application and your assets. Rather than force you to write your own “smart contract” code from scratch or use off-blockchain methods of defining custom assets for your business, NEM gives you direct API access to a specialized set of tested and secure on-blockchain features.
– You can build a decentralized blockchain or a private blockchain by using the same underlying code
– The Smart Asset System makes it very easy to customize your smart contracts
– Smart contracts are executed off chain and they are recorded on the blockchain afterwards.
– They lack exposure to the western world because they are only traded on Bittrex and Poloniex
– Their PoI protocol encourages transactions which pushes the market value down.
The network is currently live. Their new update, Catapult, is currently in beta testing.
Catapult, NEM’s new update was supposed to launch before the end of 2017 but it is not out yet. The beta testing has been open for a while.
NEM uses the Proof-of-Importance (PoI) protocol to verify transactions. Users must vest at least 10 000 XEM to create a node. When a block is harvested (created), the transaction fees associated with it are delivered to the harvester’s account.
The importance of a user is not only determined by their amount of vested XEM but also by their NEM transaction volume and trust level.
It is also possible to have a supernode by having at least 3,000,000 XEM. Having an active supernode rewards you around 320 XEM per day.
NEM has partnerships with many companies, the most notable being: Tech Bureau and Blockchain Global.
Traded on Bittrex, Poloniex and on many Asian exchanges.
NEM is a blockchain layer.
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Jan 2018: 1,4 USD
Dec 2017: 0,223 USD
Sept 2017: 0,327 USD
July 2017: 0,151 USD
This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.