About NEM XEM
Technology is always evolving, and everyone dabbling in the cryptocurrency landscape knows that bitcoin does not provide everything people want from cryptos. From Monero’s privacy, to dash’s better governance, and Ethereum’s smart contracts, there are many new blockchain projects offering advanced solutions. NEM is also an advanced blockchain project for the following reasons.
New Economy Movement (NEM) is not just a cryptocurrency. NEM is a blockchain project which caters to much more than only handling it’s native currency tokens “XEM”. Above that, and more importantly, NEM is a peer to peer platform and it provides services like payments, messaging, asset making, and naming system
NEM, it is not a fork of Bitcoin. NEM was built from scratch to inherently address all the issues cryptos face today, like scalability, ease of use, energy consumption, governance, incentive to use, and avoiding centralization and consolidation of power by miners.
Developed in 2015, XEM has a fixed supply of 9 billion, at the time of this writing article XEM has recently climbed into $0.27 and is now 6th in overall market cap. Constantly breaking suspected price ceilings organically. XEM is not mined, it is harvested, and when an account has 10,000 or more nem, the money will naturally become vested by Nem’s algorithm. Then you can begin to passively harvest block fees (delegated harvesting). This takes very little electricity because you can turn off your computer and still be harvesting. The more POI (Proof of Importance) you have by holding stake and normally transacting, the more POI you gain. In turn increasing the amount of blocks you harvest. The more that XEM is used, the higher the amount harvesters receive! This creates an incentive to invest in NEM as a currency because it will naturally pay for its own fees! In terms of transaction speed, XEM takes about 10 to 30 seconds maximum to process.
NEM also has spam protection in built that kicks in when it’s blocks are full. The network detects these ‘attackers’ and makes transaction fees exponentially more expensive for these attackers in relation to the spam they produce while keeping other normal transactions with the normal fees.
NEM is very end-user-oriented, and the ability to run on third-party software, so it has a reduced memory size, easy to install and use via a mobile client (Wallet Light) or server Traditional (Node). NEM also has a mobile wallet on both iOS and Android.
Because the NEM ecosystem provides a platform for start-ups, multiple industries, hospitals, real-estate, gaming developers, artists, and entrepreneurs can easily create special blockchains for different purposes easily on java and in other ways, the first projects are already under way in revolutionary new arenas, like gaming: developers can create in game economies of different shapes that allow gamers to make money by gaming.
These are true signs of a bright future for NEM, and I believe NEM is a sleeping giant similar to Ripple. NEM could rise to 1-2 USD per XEM in the next 12 – 15 months.