NEM (XEM)

1. Project Introduction

NEM (XEM), which stands for New Economy Movement, is a dual-layer blockchain that is written in Java and launched in 2015. The NEM mainnet supports multiple ledgers and has a NEM Smart Asset system, where nodes on the NEM blockchain process API calls. Its native currency, XEM, is 'harvested' using its POI (Proof-of-Importance) algorithm. The 'importance' of NEM users is determined by the number of coins they have and the number of transactions associated with their wallet. NEM also has an encrypted P2P messaging system, multisignature accounts, and an Eigentrust++ reputation system.

According to the team, its core characteristics are zero-inflation (the amount of XEM tokens in the ecosystem is fixed), scalability (owing to a high TPS ~ 4,000 TPS), ecosystem support (through the harvesting of XEM tokens), and power-efficiency (with negligible electricity and hardware costs relative to PoW blockchain).

*Token Migration*

In December this year, NEM is launching the Symbol public blockchain. To know everything about the token migration from NEM NIS1 to Symbol, including Opt-in, Snapshot, and opportunity to participate in XYM, please review the nemplatform’s official webpage here. By opting-in, XEM holders will obtain an XYM balance equal to that of their XEM balance at the time of Snapshot.

2. Coin Info