NEM is an abbreviation for New Economic Movement. Then let's understand what a revolutionary new in the cryptocurrency NEM can offer us.
The uniqness of NEM platform lies in two exclusive algorithms - POI and Eigentrast ++. The first gives an advantage to those who make the most big contribution to the economy of this cryptocurrency, which depends on the user's activity. The second algorithm checks the reputation of nodes that are used in transactions and sends transactions only through nodes with a high degree of reputation accordingly.
The XEM cryptocurrency is mined can be got like most others - by mining. However, mining within this system is called harvesting. The NEM system showed originality not only in the introduction of new algorithms, but also in the new names of operations.
The NEM platform has quickness - the block is formed within a minute, the wallets are easy to use and exist in several forms, the operations are carried out regardless of the distance and amount of funds. There are already 9 billion XEMs in the network and this, as the developers say, is their final number, which means no further emissions. So, a separate advantage of NEM is the visibility of the amount of money supply and its guaranteed immutability and, consequently, a comparatively stable rate.
Initially, the idea of the developers was to create an absolutely international cryptocurrency. The main factors were decentralization and internationalization, which in turn led to financial freedom and independence. Like most cryptocurrencies, NEM is completely open and secure.
One of the important features of NEM cryptocurrency is that it is not very demanding on the production capacity in the process of harvesting. It consumes the least amount of energy, which makes it the most environmentally friendly among all existing cryptocurrencies. At the same time, anyone who has at least 10 thousand XEM accounts can participate in harvesting. The scheme is standard - the user receives a reward for generating each new block.
NEM (currency XEM) became known in the not so distant 2015. Its developer and president of NEM. Io Foundation is Lon Wong. Initially, NEM was expanded on the Asian markets and by 2016 showed excellent market capitalization, entering the top ten most capitalized cryptocurrencies. In the summer of 2016, the NEM rate began to grow rapidly and for three months the price of XEM coins increased 10 times, which is 1147%. In relation to the dollar the NEM rate increased 37 times. In 2017, the NEM rate was adjusted and in 2018 experts promise a new leap for this cryptocurrency.
One of the features of XEM cryptocurrency is the calculation of transaction fees. It is always different. First, it depends on the balance of both parties - the sender and recipient of the transaction, second, on their activity in the system, and, third, on the security of the operation. As the amount of funds on the balance increases, so does the commission, this cunning was added by developers in order to avoid mass accumulation of XEM cryptocurrency on accounts and vice versa to encourage users to use it for various calculations.
According to experts, in the future the price of NEM cryptocurrency will definitely increase due to several reasons. First, its unique algorithms, introduced by developers (POI and Eigentrast ++), which distinguishes the work of NEM from the majority of existing cryptocurrencies. These algorithms cause one of the most attractive features of NEM - on this platform and within this cryptocurrency success is achieved not by the user with the largest amount of funds, but by the most active participant in the system, bringing real benefits to its economy.
Second, a positive role is played by the fact that NEM targets the financial sector of the real economy, which will begin to use advanced cryptocurrencies in carrying out its operations undoubtedly in the near future, while NEM will already test this ground and will easily enter the new scheme of the economy.
So, NEM is currently a very interesting and promising cryptocurrency, which can press many participants on the cryptocurrency's Olympus in the near future due to its original algorithms, transaction speed and course stability, which is ensured by the guaranteed absence of emissions.
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