New Economy Movement, or NEM, is traded under the sign of XEM. Last year, this crypt rose in price by more than 25,000%. Today, 1 XEM is given $ 1.14, and the capitalization is $ 10.25 billion.
NEM is a direct competitor to Ripple and Stellar. The project is aimed at building a fast, reliable and inexpensive payment system, applicable in all spheres of economic activity, and achieved certain success in this. The network for bank transactions Mijin was launched, the first of its clients was one of Japan’s leading trust banks NRI.
At the time of the NEM blockchain, 9 billion tokens were generated, the developers promise that they will no longer issue new coins. XEM can be purchased for crypt or fiat on crypto exchanges or in exchangers, a purse for storing tokens can be downloaded on the official website of the project – nem.io.
In the NEM blockchain, the original Proof of Importance algorithm is used, which puts the balance of the user’s account and the age of his wallet, as well as some other parameters, in the first place. Therefore, it is possible to effectively creep this crypt on the usual average PC, provided that there are at least 10 thousand XEM on your account (this minimum amount for mining, established by the developers). With the current course, the entrance ticket to this market will cost $ 13,700, which is quite a lot. At the same time, during the mining, new coins are not produced, but simply a reward is paid for the support of the network.
At the center of increased attention, NEM was in December 2017, when this cryptocurrency was integrated into the WeChat messenger with an audience of 900 million people. Platform users were able to send money to each other in just a few clicks. And without the attendant difficulties for the blockchain with the memorization of long unique keys. Just find a person in the contact list and make out the transfer, the system itself will send money to the account tied to the contact.
Also on the quotes of the project were the statements about the development of a new version of the blockchain called Catapult, which is planned to be completed this year. They promise that this will be an even faster and more scalable network.
NEM predict another rise in 2018, but the competitors do not slumber. Let’s see what all this will lead to …