What is NEM (XEM)? NEM is a peer-to-peer cryptocurrency and a development platform.NEM has some very unique features that make it stand out from the other cryptocurrency. The main thing is the formation of the blockchain, which uses an innovative Proof of Importance algorithm. The other is the fact that XEM doesn’t have any miners, it has harvesters. Harvesting is a reward for the formation of crypto blocks. To take part in the "harvest", you need to have at least 10,000 XEM and a tuned node. After the block is formed, the user receives XEM to their wallet. The other outstanding features of NEM are multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. Now the NEM team is working on a new level of protection which will make the coins simply useless in case they were stolen. XEM has great potential, and it is already one of the largest cryptocurrencies in Japan.
NEM was founded in March, 2015 by a Bitcointalk user UtopianFuture. The NEM code was written in Java. The main plan was to create a fork of NXT blockchain, but later it was decided to build a completely new codebase. In late 2015, core NEM developers began working with Tech Bureau on Mijin, a private blockchain project based on the NEM open-source code. The NEM blockchain was designed for integration with and use by commercial and government enterprises. The NEM Foundation is endorsed by an international network with expansive experience in IT, business processes, property and asset development, and academia. In July 2018 the NEM Foundation opened a Blockchain center in Kuala Lumpur, Malaysia. On January 2019 Alexandra Tinsman became the new President of the NEM Foundation.
Let’s say you want to buy NEM. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:
This is everything you need to know to buy XEM.