A Blockchain For Smart Assets
In the world of digital assets, NEM (XEM) is an outlier.
Like its peers Bitcoin and Litecoin, it has a native digital currency to its blockchain platform.
However, that’s where the similarities end.
The name NEM stands for the New Economy Movement, which is fitting when you consider that the goal of the NEM project is to create a powerful blockchain with the ability to move smart assets.
This is unique when you look at other digital currency blockchains in the space. Many of these digital currencies can only move the assets that are native to their own platforms.
The NEM blockchain aims to do a lot more than that, which gives it a chance at wide application outside of the traditional digital currency space.
Before we get into the deep mechanics of NEM, let’s take a brief look at its history and founder.
The idea behind NEM was formed in 2014 by a group of anonymous developers operating under pseudonymous. These developers conducted an open call for participation in the NEM network in January 2014 on a Bitcointalk forum.
The coin had a rough launch. Many of the people who were supposed to hold the digital token never received the tokens that they signed up for.
After this rocky start, NEM went on to become a dominant player in the digital currency market, particularly in the Japanese markets.
A large portion of NEM’s success in the space stems from its ability to move smart assets other than its own native digital currency. NEM provides a revolutionary consensus mechanism and supernode program, which ensures that NEM’s blockchain will continue growing without ever compromising stability with growth.
Beyond that, NEM’s blockchain uses a powerful application programming interface (API). This API can be used with any programming language. This makes NEM a good, flexible tool for any business.
NEM’s blockchain platform uses a secure and stable platform through EigenTrust, which is a public node network established on two-tier architecture.
If you’re interested in learning more about NEM, you can visit the company website here.
And you can access the NEM white paper here.
How to Buy NEM
NEM is available on a wide range of digital currency exchanges, including Zaif, Poloniex, and Bittrex.
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