XEM is the native cryptocurrency of the NEM network. NEM as a project is fast, with some interesting and unique features not seen within other cryptocurrency projects.
When it comes to speed, NEM is lightning fast when compared to the leader Bitcoin. With the ability to carry out 3,000 transactions / second, it’s blisteringly faster than Bitcoin which – at the moment, can only manage 4+ / second.
It’s this speed which, at least until SegWit occurs within the Bitcoin project, attracts many investors in XEM as virtual currency.
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£0.21 / 1 XEM
About NEM XEM
NEM, like Ethereum, is a ‘solution platform’ – upon which, many things can be implemented, such as payment systems, encrypted messaging etc. Using the NEM system for additional projects is said to be far easier for developers than Ethereum, with easy-to-implement API’s.
Some interesting features include a messaging system, which allows the user to – when sending XEM, include a personal note e.g. “Dear John, here’s the money I owe you for dinner the other night…” – a neat feature lacking from the other top cryptocurrencies.
NEM also includes a native ‘multi-sig’ addition, which – for added security, requires authorised signatories to ‘sign off’ on a transaction before it’s sent off. Already in use for business bank accounts in the UK (requiring multiple signatures on cheques etc), this is a useful feature as cryptocurrencies look for backing within the mainstream business community.