What is NEM Cryptocurrency – NEM (XEM) Cryptocurrency Review

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THE SMART ASSET BLOCKCHAIN

Built for performance

INTRODUCTION TO NEM

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CATAPULT ROADMAP

NEM Advantages

How does NEM push blockchain performance further?

NEM’s blockchain platform was designed and coded from the ground up for scale and speed. NEM’s permissioned private blockchain delivers industry-leading transaction rates for internal ledgers. And its revolutionary consensus mechanism and the Supernode program ensure that NEM’s open, public blockchain can grow without ever compromising throughput or stability.

NEM’s blockchain exposes its functionality through a powerful API interface that can be used with any programming language, not a specific “smart contract” language. Existing business logic code can easily mate up and use blockchain where it’s strongest: secure transactions and ledger keeping. In short, configure NEM for your business, and then deploy blockchain incrementally and without forced retooling of existing infrastructure.

Unlike other blockchain technologies, NEM is built from the ground up with powerful modular customization for virtually any application. We call it our Smart Asset system. With it, NEM lets you focus on building exactly what you need, whether that’s a fintech system, tracking logistics, an ICO, document notarization, decentralized authentication, or much more.

NEM’s architecture provides an incredibly secure and stable platform through its use of Eigentrust++ and an incentivized public node network based on its two-tier architecture. The significant risks inherent in on-blockchain “smart contracts” are eliminated by providing building block customization to NEM functionality that keeps application security in your hands, not on the blockchain. And NEM’s private blockchain option allows complete control over internal data privacy when a public blockchain isn’t the right solution.

What is NEM (XEM)? A Beginner’s Guide To NEM Cryptocurrency

NEM, the revolutionary Blockchain platform

NEM (XEM) is a cryptocurrency was launched in 2020. Unlike the overwhelming majority of other cryptocurrencies, NEM has its own original source code.

This cryptocurrency has introduced new features and technologies to the Blockchain community. For instance, it operates using the unique POI algorithm. POI or Proof of Importance helps to determine the user who is going to calculate the next block. The new algorithm guarantees the fair distribution of chances on block calculation as it takes into consideration not only the amount of coins stored in the user’s wallet but also all incoming and outgoing transactions. That makes it possible to reward those users who make the biggest contribution to the currency development and distribution.

The average time of block generation is one minute. There are different types of messaging available to the NEM users:

  • Encrypted,
  • Unencrypted, and
  • Hex.

The wallets are very easy to use and NEM software will take just minutes to install. They are available for

NEM allows you to perform instant money transfers globally, without large fees. All wallets are highly secured and exclude any possibility of unauthorized access.

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Features and functions of NEM

It is not the fork of an existing project, and was built early on by thinking about the needs of end users, analyzing the pros and cons of the existing Blockchain.

NEM has a two-tier architecture, which pays special attention to safety. These two layers (server and client) are formed by the NIS (Infrastructure Server NMS) and the NCC (Community NMS Client). NCCs securely connect to NIS to run and save transactions without downloading the entire Blockchain, enabling a much better user experience.

NEM technology was developed under the Test Driven Development (TDD) methodology. This methodology focuses all efforts to meet predefined requirements before beginning to implement the technology, ensuring that each small piece of code has been created to meet any of these requirements or tests, and d Avoid inefficiencies and unnecessary code.

Thanks to this new way of reaching a consensus, with the Proof of Importance (POI) , the nodes do not need to be expensive machines that consume large amounts of energy, especially since a part can function independently of the portfolio. Because by using previously commented APIs, any application can Blockchain NEM securely without having to download the chain of access blocks.

Another strength of NEM, is that the average block time is 1 minute. This time is 10 times lower compared to Bitcoin , so NEM is able to run and validate many more transactions in less time.

NEM, like other Blockchain, allows the creation of new virtual assets. With NEM Mosaics (NEM Mosaics), these assets (which can be linked to real values) can be created with fixed or variable products, descriptions, rates and transfer rights.

NEM mosaics are always linked to namespaces (Namespaces NEM) to ensure that these mosaics are unique. These namespaces are the equivalent of the classic Internet domain names for the Blockchain. It is also the first Blockchain with Delegated harvesting, protected against localized spam, Eigentrust ++ for reputation management between node pairs and multi-signatures mn customizable with alerts based on the Blockchain.

One of the strengths of this cryptocurrency is its zero inflation (all 8,999,999,999 million XEM, the NEM currency were issued at launch).

Other useful functions of NEM:

  • Automatic synchronization of P2P nodes,
  • The ability to send encrypted messages, clear and hexadecimal,
  • Approval of designature and payment transactions in several geographically distributed steps, and
  • Private sidechains (Mijin Instances).
  • Finally, 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 (released soon, currently in beta closed, although Android and iOS versions can be found on GitHub).

As we have seen, the potential for NEM is enormous.

Some more details about NEM

Symbol – XEM

Date of reation – 31/03/2020

Website URL – https://www.nem.io

Browser Blocks – http://chain.nem.ninja/#/blocks/0

Founder – Nem Project

Algorithm – Blockchain

System – Proof of Importance

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology , Cryptocurrencies and upcoming ICO’s.

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Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.

What Is NEM (XEM)? – Everything You Need To Know About NEM Cryptocurrency

Introduction

Built with the mindset of business, NEM or New Economy Movement is the world’s first ‘smart-asset’ blockchain. It is written in Java, and a C++ model is in the build. It wants to create a wide distribution model by adding several new features to the blockchain technology, like the mini-signature account systems, the POI or Proof of Importance algorithm and encrypted messaging. It also has an Eigentrust+ reputation to its name.

This cryptocurrency is unique in many ways, and is also the first cryptocurrency after Bitcoin which has a code built from scratch. The goal of NEM is to create a more advanced blockchain technology. It has not only reduced the net requirement of energy for payments and transactions but also made the process simpler by removing the concept of mining. No powerful and sophisticated machine is required for its functioning.

It was to be created as a fork of NXT blockchain, but later the developers and the team of NEM decided to make a completely new model and write a different code. Its technology is planning to make the process of performing transactions simpler than ever. The system of NEM has the capability to drastically simplify a large variety of ledger and transaction systems.

How NEM Started?

It all started when a user from Bitcoin Talk forum named UtopianFuture was inspired by Nxt. The initial idea was to create a fork from it to create NEM. This was soon replaced by a new codebase, and in January 2020, participation began and a call was made on the Bitcoin Talk forum. The initial aim was to create a community-oriented cryptocurrency.

It was launched in March 2020, and it started trading using the abbreviation XEM. The project saw more than 1500 investors, and every single investment was worth around 2.25 million XEM coins.

In 2020, a new blockchain engine partnership was formed between NEM and Tech Bureau, which is the operator of one of Japan’s largest cryptocurrency exchanges called Zaif.

Just two years later, a massive hack on the Coincheck Japanese exchange caused a loss of more than 500 million XEM coins, which was worth around $400 million. Reports stated that this hack was the result of weak security measures implemented for XEM by Coincheck. The team at XEM created an automated system of tagging instead of creating a hard fork.

This new system could follow the flow of money and track any account that received tainted money.

The Team Behind NEM

One main figure not only in NEM but in the whole blockchain space is Lon Wong, an internationally praised thought leader and a billion dollar personality who is responsible for the making of NEM.

He has more than 30 years of experience in building several businesses. He has previously remained in top positions at various reputed organizations like the Construction Industry Development Board of Malaysia and the Energy Commission of Malaysia.

How NEM Works?

NEM’s special feature is that it is a smart asset system. It was designed in a way that through simple API calls, several use cases are allowed and can be heavily customized. It is secured by a global network of nodes like most blockchain technologies, which is used as an API gateway. This helps developers build powerful Dapps without any special type of software.

The architecture of NEM has two components, namely, the NEM Infrastructure Server(NIS) and a client which is used for interacting with the nodes.

The overall structure of NEM provides a lot of flexibility in terms of design and the way that different apps use the NEM system. Developers can now define what is known as NEM addresses that behave like containers for different types of assets. It can simply be a wallet holding coins or a more complicated container storing documents, opening which requires signatures.

After this, developers can create mosaics, which are identical, transferable assets that can be produced many times and are viable for many use cases. Anyone can build any type of storage they want, and connect it to the NEM blockchain easily.

Moreover, they have introduced a new process called the Proof of Importance (PoI) as compared to the Proof of Work (PoW) that Bitcoin and most other cryptocurrencies use. This improves the quality of nodes because each node gets a score and it can harvest XEM coins based on that score. There is a continuous tracking of how many transactions you make. The more you make, the more important you become.

This system also tackles the problem wherein the rich only get richer and the poor don’t get a bite of the benefits reaped. This is because the vesting process requires an investment of time.

Advantages of NEM

NEM has introduced a new system called harvesting, in place of the more common mining process used by Bitcoin and other cryptocurrencies. In this process, every time a transaction is made, a computer verifies it and notifies the users around it to generate a block. If someone who has more than 10000 XEM coins generates a block, then they receive the transaction fee.

It is one of the few cryptocurrencies that has an adaptive API interface, which is compatible with Java, as well as, C++.

It has a consensus system of its own and is used only by NEM in the crypto market space. As a replacement for Bitcoin’s Proof of Work (PoW), NEM has a system called Proof of Importance (PoI) which guarantees that every participant is paid as much importance as they deserve. It demands that more people buy XEM coins and also remain active. This system makes the community work better than other systems. If someone just buys a lot of coins and does not remain active in the community, they are valued less than those who own less but communicate more.

The increased speed of transactions is also an advantage that NEM has over Bitcoin. It can handle around 3000 transactions per second, mostly because it has created its own system from scratch by writing a whole new set of code.

Although not very user-friendly, it does have its own wallet called Nano Wallet, which is very simple and fast to start with.

Disadvantages of NEM

Not many disadvantages can be stated for this cryptocurrency. Only major concern that exists is its user base. Most people are using Ethereum, and as it is functioning quite well presently, it is difficult to say that the NEM consumer base will increase soon.

Another problem which can be fixed easily is that the NEM website does not explain its features adequately. This cryptocurrency introduces several major changes, and it is important for consumers to understand these alterations before they can start trusting or using this cryptocurrency. In its present state, NEM needs to focus on increasing the number of people joining its community because that will decide how well it performs in the future.

How to Buy XEM?

Just like most cryptocurrencies, there are several exchanges where you can buy XEM. There are about 25 exchanges that trade XEM for other cryptos like Bitcoin and Ethereum, as well as, for fiat currencies like USD and INR.

The first step before buying any coin is to select a proper storage space for your coins. Most people who buy XEM trust the official wallet named Nano wallet to store XEM coins. This wallet can be downloaded from the official website. Once downloaded and installed, you can sign up and create a simple wallet. Alternatively, you can also use the XEM wallet on your mobile called the NEM Mobile Wallet, which is available for both Android and iOS.

Else, you can also store XEM coins on the exchanges themselves. Major cryptocurrency exchanges like Binance, Bittrex and CoinSuper can be used to trade other cryptocurrencies to get an amount of XEM. Many other exchanges like Exrates and BuyUCoin can also be used to buy coins with fiat currencies, including USD, EURO and INR.

How NEM is different from other cryptocurrencies?

Looking at how well NEM has secured its networking, we have come to the conclusion that it is far better than even Bitcoin. Bitcoin users are giving away several dollars every day in order to keep the coin alive and running on top of everyone else. On the other hand, NEM users hardly have to spend anything. Also, in terms of features, NEM is proving to be much better than top market coins. Inbuilt messaging systems with addresses, namespaces, and mosaics not only make NEM different but also better in the complete process.

Just by looking at the advantages of NEM, one can easily identify the benefits it has over other cryptocurrencies. Ethereum and Bitcoin may fail to scale easily whereas NEM is designed to scale in its completely new code.

Ethereum has the problem of getting experienced developers to code in Solidity language. NEM can easily be developed in Java, and hence, it has plenty of experienced developers. This also helps in faster development of the platform.

The problem of spamming has always been there with Bitcoin, and the team at NEM has managed to take care of that. Similarly, there are many improvements over other top quality coins which give NEM the potential it has. The whole process of how someone has to put in a lot of time to pull off a spam attack is just a big development over the existing technologies. NEM did not only create a system that is better in terms of transactions but also was able to overcome several challenges with the same strategy.

The future of NEM

NEM is the only crypto coin visible that has never faced volatility. Most of the time, NEM has moved up in value, and the fluctuations in prices have been minimal. Out of the many cryptocurrencies that stand at the top ranks of the crypto market, only NEM has these many features. Every other coin today is focusing on one thing – trying to tackle one of the disadvantages or drawbacks of Bitcoin, but NEM has taken the challenge of tackling almost every problem which Bitcoin poses with a completely new structure.

Multisignature addresses, encrypted messaging, spam filters and P2P synchronizing system have all come together to make NEM stand out. Built from scratch, NEM is competing well with Bitcoin and no one can deny that the work NEM is doing can surely prove to be helpful in overcoming top Bitcoins of today.

Should you invest in NEM?

Although there are minimal disturbances in the price valuation of XEM, several successors of this coin have overtaken its price. This can prove to be an unattractive feature of NEM.

However, if you combine the two facts that it is valued at low costs now and secondly, that it has great potential, you can obviously understand that this might not be a bad time to invest in it. The Proof of Importance system is a one of a kind system which has only gained attractions, and the several new features built into the system are also major points for people to soon choose NEM over other cryptocurrencies. It is only the price that is keeping people away.

There can be a risk in investing in it, but if the value increases, it will be bigger than ever. There is no other reason than its valuation because of which it remains below the first position.

Conclusion

NEM is a major player, and is a promising currency in the digital market. The better basic structure to its advanced technologies are all impressing the community. It is only a matter of time before the valuation of XEM increases and everyone shifts to it.

There is no way that anyone can guarantee its successful adoption, but NEM has taken all the right steps from the very beginning. This cryptocurrency still stands at a point of individual opinion but there is no denial of its capabilities.

NEM криптовалюта обзор. Анализ курса XEM/USD

Криптовалюта NEM пользуется особой популярностью в государствах азиатского региона, таких как Япония. Эта монета разработана на основе собственной технологии и обладает целым рядом преимуществ перед остальными криптовалютами:

  1. Фиксированный объем денежной массы, который составляет 9 миллиардом NEM. Создатели этих цифровых денег не планируют в ближайшее время проведения дополнительных эмиссий. Эта особенность позволяет практически полностью исключить вероятность манипуляций с котировками цифровых денег. .
  2. Наличие многофункциональной технологии блокчейн . Эта технология позволяет безопасно хранить данные, а также обмениваться информацией.

Криптовалюта NEM имеет надежную систему безопасности, которая обеспечивает возможность осуществлять транзакции в различные страны мира с минимальными задержками.

Транзакции выполняются абсолютно анонимно. ПО, необходимое для использования этой криптовалюты можно установить на компьютеры и мобильные устройства с любой операционной системой.

После резкого скачка котировок, который наблюдался в 2020 году, создатели NEM приложили огромные усилия для модернизации имеющейся инфраструктуры. В это время была создана и запущена приватная сеть Mijin, предназначенная для осуществления банковских транзакций. Создание этой сети выполнялось в тесном сотрудничестве с известной японской биржей криптовалют Tech Bureau.

После запуска обновленной системы, были проведены специализированные тесты, в которых принимал участие крупный японский банк NRI. Во время тестирования всего за одни сутки было выполнено два миллиона транзакций. Модернизированная сеть успешно выдержала такую нагрузку, а также доказала высокий уровень защищенности от хакерских атак.

Так как многие кредитные учреждения проявляют интерес к цифровым деньгам. Внедрение приватной сети для банковских переводов, сделало NEM одной из самых удобных криповалют.

Недавно японское правительство приняло специальные законодательные акты, которые признают цифровые валюты в качестве полноценных платежных средств. Это вызвало огромный рост популярности NEM, так как сеть этой криптовалюты прекрасно приспособлена для работы с юридическими лицами и кредитными учреждениями.

Добыча криптовалюты происходит путем начисления комиссии узлам, которые участвуют в процессе создания блоков и называется харвестингом (от английского Harvesting — сбор, уборка урожая). Комиссия начисляется за транзакции входящие в блок.

Харвестинг бывает двух типов:

Локальный харвестинг отличается от делегированного тем, что локальный режим подразумевает запуск клиента NEM в онлайн режиме, с предоставлением приватного ключа для подписи сгенерированного блока. А делегированный харвестинг запускается удаленно и предоставляет приватный ключ аккаунта посредника с пустым балансом, который создается сразу после запуска делегированного режима. За счет публикации ключа посредника создается безопасность основного аккаунта.

Вся комиссия за создание блоков поступает на основной аккаунт. Как правило, сейчас во всех кошельках работает только делегированный харвестинг.

Для запуска делегированного режима требуется провести активацию, подтверждение которой займет приблизительно 6 часов и будет стоить 6 ХЕМ. После запуска и активации делегированного харвестинга, он будет работать даже если вы выключите ПК. Активация делается прямо из официального кошелька NEM.

Чтобы начать добывать криптовалюту NEM на счету должно быть не меньше 10 000 ХЕМ активной части баланса (Vesting). Иначе учетная запись будет иметь нулевой показатель важности.

Баланс вашего кошелька делится на 2 части: активную и пассивную.

Vesting — это активная часть баланса которая начинает накапливаться с момента зачисления монет на баланс кошелька (пассивную часть). Этот процесс называется созреванием монет. В сутки начисляется примерно 10% от баланса кошелька. И далее каждые сутки по 10% от остатка не зачисленной пассивной части. Поэтому чем больше у вас монет, тем быстрее вы начнете харвестить.

  1. Приобретение специального оборудования, которое произведено на основе использования матриц FPGA либо Асик-процессоров.
  2. Домашняя ферма с мощными видеокартами.
  3. Облачный майнинг .

Хранить монеты можно как на мультивалютных кошельках одной из бирж, так и на специализированном кошельке, который можно скачать на официальном сайте nem.io .

Цифровые деньги NEM не могут похвастаться такой огромной популярностью как Bitcoin. По этой причине далеко не все биржи позволяют совершать операции с этой валютой. Список площадок, которые позволяют выполнять операции с этими электронными деньгами постоянно расширяется. Для приобретения NEM вы можете использовать как банковские карты, а также и разнообразные платежные системы.

Если вы приняли решение инвестировать в криптовалюту NEM, чтобы избежать убытков, вам необходимо строго придерживаться следующих рекомендаций:

  1. Следует пользоваться услугами только проверенных биржевых площадок, которые обладают хорошей репутацией.
  2. Тщательно выбирать подходящее время для приобретения криптовалюты, чтобы не совершать покупок в момент, когда котировки находятся на пике.
  3. Обезопасить компьютер или мобильное устройство на котором находится ваш кошелек от вредоносного программного обеспечения.
  4. Уникальный код, который вы получите при создании кошелька необходимо хранить на отдельном цифровом носителе.

Создатели NEM прилагают огромные усилия, чтобы сделать эти цифровые деньги самыми востребованными и узнаваемыми. Уже сегодня можно применять NEM для выполнения переводов и оплаты товаров в интернет магазинах.

Относительно недавно операции с этой криптовалютой начали выполнять кредитные учреждения Малайзии, Южной Кореи и Японии. Многие эксперты сходятся во мнении, что криптовалюта NEM со временем заменит систему банковских переводов SWIFT. Это связано с тем, что протокол который применяет система банковских переводов морально устарел. Он не в состоянии обеспечить высокую скорость выполнения транзакций. Так например, для выполнения международных переводов при помощи системы SWIFT может потребоваться до трех рабочих дней.

Упомянутые выше факты свидетельствуют о том, что в скором времени ожидается рост курса NEM. Еще одним важным фактором, является то, что объем денежной массы составляет всего 9 миллиардов. Дополнительных эмиссий создатели системы не планируют.

Если вы планируете инвестировать в NЕM, то вам следует помнить, что данный рынок очень волатилен. Поэтому суточная амплитуда цены может превышать 10% общей стоимости. Из-за этой особенности довольно трудно выбрать оптимальный момент для приобретения валюты.

Купить Nem на бирже Binance

График курс XEM/USD в реальном времени

Высокий уровень волатильности не позволяет получать высокий доход от краткосрочных капиталовложений в эту криптовалюту. Таким образом, следует рассматривать лишь среднесрочные и долгосрочные капиталовложения в NЕM.

Приобретать валюту следует во время коррекции, так как это позволит увеличить размер потенциального дохода. Так как NЕM является не просто платежным средством, но и инструментом для межбанковских операций, то долгосрочные капиталовложения в эти цифровые деньги могут принести вам очень высокую прибыль.

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