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NEM’s primary contribution to the cryptocurrency landscape is a new consensus mechanism called Proof-of-Importance (PoI). Unlike Proof-of-Work (PoW), it is environmentally sustainable and does not require large-scale computing resources in perpetuity. PoI is similar to Proof-of-Stake (PoS) except that it is not solely derived from the size of an account’s balance. It incorporates other behaviours that are believed to be positive for the holistic economy. NEM attempts to reward active economy participants at the expense of inactive participants and dampens the “rich getting richer” effect that is inherent to PoS.
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NEM is a modular, highly customisable blockchain platform
The native peer-to-peer cryptocurrency of the NEM platform is called XEM
NEM’s use cases cover a broad spectrum, similar to Ethereum
Easy and convenient trading platform for new and experienced users
Secure, safe and free wallet service included
Fast and reliable, available 24 hours a day, 7 days a week
Over 30 digital assets, including Bitcoin, Ethereum, Ripple and more
European company, founded in 2014 in Vienna, Austria
Multiple fiat currencies, including euro, Swiss franc, British pound and US dollar