NEM

#15
Price: $0.264316
Change(24h):
+ 2.26%
Volume(24h): $13,399,400
Market Cap: $2,378,844,000
NEM is a peer-to-peer open-source cryptocurrency written in Java. Moreover, NEM is a blockchain-based community initiative that aims to build a smarter and more advanced crypto platform. Lon Wong created the NEM platform in 2015 and in 2016 founded in Singapore the NEM foundation as a non-profit organization to support the platform. The token, XEM, and the Proof-of-Importance (POI) algorithm, which NEM implements, were introduced in 2017. POI is a protocol that rewards users and contributors through "harvesting", so mining is not required. Hence, XEM is a non-minable token with a total coin supply of 9 billion units.

Minable: No

Coin Prefix: XEM

Type: Coin

Latest Hight: $0.45

NEM Markets

# Source: Pair: Price:
1
Zaif
XEM/JPY
$0.365230722450286
2
Binance
XEM/BTC
$0.365703936
3
Bittrex
XEM/BTC
$0.366583032
4
Poloniex
XEM/BTC
$0.3654402072
5
HitBTC
XEM/BTC
$0.3654402072
6
Binance
XEM/ETH
$0.36577680216
7
Huobi
XEM/USDT
$0.36406552
8
Huobi
XEM/BTC
$0.3650006592
9
OKEx
XEM/USDT
$0.365865844
10
HitBTC
XEM/USDT
$0.36507770216

NEM

  • Launched: March 2015
  • Founder: Lon Wong


XEM is a fast, secure and scalable cryptocurrency, powering a vast, decentralized Blockchain network. The vice president of NEM foundation, Jeff McDonald describes XEM as a superior and more efficient coin, compared to, say, Bitcoin. XEM provides excellent security to the network and transactions, further empowering smart solutions for both users and businesses. NEM’s Blockchain platform uses the Eigentrust++ algorithm for reputation management in peer-to-peer networks along with an incentivized public node network. NEM is believed to provide better opportunities for transactions, even compared to market titans Bitcoin and Ethereum.

With a circulating supply of 9 billion XEMs, the not so pricey crypto is positioning increasingly better on both the market and the Blockchain network as a management tool. The technology also offers a unique Smart Asset System that allows more customized use and management of the platform.

 

NEM technology

NEM has a digital network alter-ego. It also exists as the Mijin – a private chain that focuses on servicing institutions, primarily in Japan. What’s more characteristic about the NEM, however, is that it has an empirically proven usage outside the crypto world. It functions as an inter-connective tool serving businesses and institutions via smart contracts, particularly good for providing self-enforcing qualities to agreements. The platform uses the POI (Proof-of-Importance) consensus protocol and encourages users to participate rewarding them at random. XEM utilizes a model of ‘harvesting’ the cryptocurrency, which requires much less electricity than mining. This enables users to gain profit for generating and supporting blocks in the network.

 

The future of XEM

The distributed ledger tech platform NEM has a promising future, keeping a strong profile as a reliable businesses and industries partner. XEM cryptocurrency is steadily proving a valuable asset for investors as the significance of the coin within its Blockchain and as a tool for users globally increases rapidly. The NEM platform works on further improving its reliability as it launched a real-time transaction tracking protocol in February 2018. The platform promises a future, where the XEM coin will be a practically usable and businesses preferable tool within the Blockchain technology network.