$0.3996 / $0.3624
What is NEM (XEM)
NEM (XEM) is a peer to peer blockchain platform that is written in Java. Launched on March 31, NEM, which stands for New Economy Movement, describes its blockchain as “an improvement on existing block chain technologies”. NEM’s one of the greatest contribution to the crypto currency space is a new consensus mechanism, Proof of Importance (POI).
According to NEM’s white paper, POI is environmentally sustainable and does not require large scale computing resources in perpetuity. This algorithm is very similar to Proof of Stake (PoS) except that it is not solely derived from the size of an account’s balance. It incorporates other behaviors that are believed to be positive for the holistic economy. 0.000001 µXEM (microXEM) is the smallest unit of a XEM coin. The supply of this crypto currency is 8.999.999.999 XEM. There are over 20 projects in various stages of development on NEM, including the integration with Pundi X.