Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Once Popular Coins (Graveyard) => Other Popular Cryptos / Coins => NEM Forum => Topic started by: Crestie C. Tuvilla on May 24, 2018, 02:21:06 PM
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NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.[1] Written in Java,[2] with a C++ version in the works, NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin,[3] which is being tested by financial institutions and private companies in Japan and internationally.
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NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.[1] Written in Java,[2] with a C++ version in the works, NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin,[3] which is being tested by financial institutions and private companies in Japan and internationally.
It is a cryptocurrency that uses peer-to-peer and launched a blockchain last March. Its goal to distribute a wide model. It introduced new features to wolrd of blockchain.
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NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.[1] Written in Java,[2] with a C++ version in the works, NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin,[3] which is being tested by financial institutions and private companies in Japan and internationally.
NEM is the first "Smart Asset" blockchain in the world. It is build with businesses in mind, the NEM is also have a world class platform design to give a streamlined method to maintain secure the ledger of transaction. The blockchain technology of the NEM's gives a potential to drastically simplify an huge variety of secure ledger and transaction tracking system. The NEM was also designed with modular customization in mind and thanks to the "Smart Asset System" the NEM can be used for almost application.
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New Economy Movement (NEM) is an enterprise-grade solution to power the impending blockchain economy. Originally intended to be a fork of NXT, the community decided to go with a completely new codebase with an alpha version released June 25, 2014, and the first stable release March 31, 2015. The platform is currently being rewritten in C++ and will be released as the “Catapult” update in 2018.
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NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.[1] Written in Java,[2] with a C++ version in the works, NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin,[3] which is being tested by financial institutions and private companies in Japan and internationally.
I think NEM is most similar to Ethereum in what it's attempting to accomplish. Through the implementation of mosaics and Namespaces, NEM is able to create tokens like Colored Coins in the Ethereum blockchain.
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NEM is a peer-to-peer crypto platform. It is written in Java and JavaScript with 100% original source code. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure and encrypted messaging system, multisignature accounts and an Eigentrust++ reputation system.
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NEM like every other crypto uses peer-to-peer platform whose main goal is to distribute a wide model and introduce new features to world of blockchain.
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NEM was started by a Bitcoin Talk forum user called UtopianFuture who was inspired by Nxt. The initial plan for NEM was to create a fork of NXT, but this was eventually dismissed in favor of a completely new codebase. Starting on January 19, 2014, an open call for participation began on the Bitcointalk forum. The goal of the call was to create a community-oriented cryptocurrency from the ground up.
In April 2016, Tech Bureau, the operator one of Japan’s largest cryptocurrency exchanges, Zaif, formed a partnership with NEM for a new blockchain engine.
On 26 January 2018, Japanese cryptocurrency exchange Coincheck was the victim of a massive hack resulting in a loss of 523 million XEM coins, the native token of NEM, worth approximately $400 million. The hack only involved NEM, because the security breach was caused by the lack of strong security measures of Coincheck with regards to their implementation of NEM, lacking the use of multisignature support or a cold wallet[citation needed]. The NEM #DevelopmentTeam refused to conduct a hard fork. Instead NEM is created an automated tagging system. This automated system followed the money and tagged any account that received tainted money\ The result of these actions was that NEM stopped tracking the stolen coins approximately mid-March 2018, after concluding that enough data was provided to the law enforcement authorities.
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NEM is a p2p crypto platform with blockchain technology. This coin called XEM is very unique, because NEM is written in C ++ and Java. In addition this coin is expressed in a distributed model with the POI (Proof-of-Importance) algorithm.
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NEM's design architecture consists of two components. One is the node or NEM Infrastructure Server (NIS). The second is the client used for interacting with the nodes.[13] Its cryptocurrency wallet is the NanoWallet built with HTML and Javascript.
Another client was the NEM Community Client (NCC). The NIS is connected to the P2P network and acts as a gateway for the NCC. The NCC is client software that includes a wallet. The NCC has since been deprecated in favor of the NanoWallet. Both NCC and the NanoWallet can be run isolated from the internet, providing security through an airgap.
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NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. Written in Java, with a C++ version in the works, NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally.
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NEM is an innovative blockchain-based digital money. This NEM project uses Java and JavaScript. This project is widely distributed using new features with the Pol or Proof of Importance algorithm.
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The NEM blockchain powers what they call the Smart Asset System. This system is intended to be an open, customizable blockchain solution for any number of use cases built on top of simple, powerful API calls. The blockchain is secured and transactions are processed by a global network of nodes running the NEM core software, and the network is used as an API Gateway server.
This means developers looking to build blockchain powered apps don’t need to run any special NEM software as all of the NEM functionality is available by accessing API calls.
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NEM has stated goals from a broad distribution model and has introduced new features for blockchain technologies such as proof-of-importance (POI) algorithms, multisignature accounts, encrypted messages, and Eigentrust ++ reputation systems. NEM blockchain software is used in commercial blockchain called Mijin
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NEM itself is a blockchain technology, much like Ethereum, with its base token being XEM. XEM performs the same functions on the NEM blockchain as ETH does on Ethereum. Other tokens could potentially be launched on NEM and even have a higher value than it does, depending on their application.
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According to its specifications. NEM is noticeably different from all existing cryptocurrencies, having a number of features. at the moment it is a record value. among all known cryptocurrencies.
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NEM technology allows multiple ledgers to coexist on one blockchain. NEM Smart Assets allows users to create mosaics which can represent any asset. All transactions in NEM have transaction fee associated with them and denomination used to pay for transactions is mosaic named XEM.
In July 2018 the NEM Foundation opened a Blockchain center in Kuala Lumpur, Malaysia, to serve as an incubator, accelerator, co-working space as well as Southeast Asian regional headquarters for NEM in the region. It is considered the largest blockchain centre in the Southeast Asian Region at 11,000 square feet.
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NEM technology allows multiple ledgers to coexist on one blockchain. NEM Smart Assets allows users to create mosaics which can represent any asset. All transactions in NEM have transaction fee associated with them and denomination used to pay for transactions is mosaic named XEM.
In July 2018 the NEM Foundation opened a Blockchain center in Kuala Lumpur, Malaysia, to serve as an incubator, accelerator, co-working space as well as Southeast Asian regional headquarters for NEM in the region. It is considered the largest blockchain centre in the Southeast Asian Region at 11,000 square feet.
I agree because i know this coin has a good technology to allow multiple ledger.With this,many people can be benefited with it.This coin will gain more popularity soon in the crypto community.
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What I like most about NEM is that it is part of the Architecture Platform, here has been explained in detail if NEM also opens smartcontracts and the advantages that NEM provides.
I will quote from the NEM website, like this:
NEM's architecture is designed for both simplicity and flexibility of development. The blockchain is supported by nodes running NEM-provided software that implements NEM's feature set and unique consensus mechanism. This may be either open, decentralized, self-supporting NEM public blockchain, or may be a permissioned private NEM blockchain running on your own servers.
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NEM technology allows multiple ledgers to coexist on one blockchain. NEM Smart Assets allows users to create mosaics which can represent any asset, and it does have fee for all its transactions.
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NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. Written in Java,[1] with a C++ version in the works, NEM has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally.
NEM technology allows multiple ledgers to coexist on one blockchain. NEM Smart Assets[2][citation needed] allows users to create mosaics which can represent any asset (e.g. currency). All transactions in NEM have transaction fee associated with them and denomination used to pay for transactions is mosaic named XEM.
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NEM is one of the oldest cryptocurrencies, started back in 2014, and one of the most valuable, with a market cap over $15 billion, but it’s also one of the least talked about. That may stem from its origins in Japan, but over the last few years, it has expanded its reach to Asia, Europe, and beyond by forming partnerships with major corporations around the world to use the private version of the NEM blockchain. While there are many new cryptocurrencies that have begun working on ways for large businesses to incorporate blockchain technology into their systems, NEM is much further along and has a working product already being used. With each new customer, NEMs reputation, and its market cap is growing.
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Founded by the pseudonymous individual or group known as ‘UtopianFuture’, NEM (New Economic Movement) is a peer-to-peer cryptocurrency and blockchain platform. The NEM source code is not derived from any existing blockchain code, instead, NEM’s source code is written entirely in the Java programming language and is completely original. The aim of the project is to create a secure economic system on the blockchain. The blockchain can function as a remittance network, financial settlement mechanism, messaging service, provide asset trading and smart contracts functionality, and even allow users to create their very own cryptocurrency.
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The first cryptocurrency after Bitcoin to have built its code from scratch, NEM is unique for many reasons. Its stability, versatile use cases and consensus system are just a few of the things that make NEM different. NEM, short for New Economic Movement, started out to build a smarter, more technologically advanced blockchain.
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NEM is a blockchain platform built from the ground up to be simple for developers to use blockchain technology. NEM is built around a powerful system to customize your using of the blockchain. We call it the Smart Asset System. It gives you the power to use NEM as if it were a custom blockchain built for your application and your assets.
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NEM is a distributed digital currency and blockchain stage propelled on March 31, 2015. Written in Java, with a C++ form underway, NEM has an expressed objective of a wide appropriation demonstrate and has acquainted new highlights with blockchain innovation, for example, its confirmation of-significance (POI) calculation, multisignature accounts, scrambled informing, and an Eigentrust++ notoriety framework. The NEM blockchain programming is utilized as a part of a business blockchain called Mijin, which is being tried by budgetary foundations and privately owned businesses in Japan and globally.
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NEM is an acronym for New Economy Movement, a blockchain platform that was build from the ground up. The actual cryptocurrency trades with the symbol XEM. It was designed as an enterprise solution for the upcoming blockchain revolution and global economy. The original thoughts of creating NEM appeared on a BitcoinTalk forum post by user UtopianFuture. While it was originally planned as a fork of the NXT blockchain, the creator(s) decided to go with a completely new codebase instead, and released an alpha version written in Java on June 25. 2014. The first stable version was released on March 31, 2015.
Currently NEM is being rewritten and the update, called “Catapult”, is expected to be released sometime in 2018. It will make NEM faster and more scalable, as well as adding Aggregated Transactions and Multi-Level Multisignature Accounts, two features that have never been implemented on a blockchain previously.
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NEM is the world’s first “Smart Asset” blockchain. Built with businesses in mind, NEM is a world class platform designed to offer a streamlined method to maintain a secure ledger of transactions. NEM’s blockchain technology offers the potential to drastically simplify an enormous variety of secure ledger and transaction tracking systems. It provides an adaptable API interface that can be used with any programming language. Designed with modular customization in mind, NEM can be used for almost any application thanks to its “Smart Asset System”. As of October 2017, NEM is the 7th largest cryptocurrency in the world, with a market cap of nearly 2 billion.
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The NEM project mainly focuses on creating a smart asset blockchain which can effectively perform under a serious workload. Although smart assets issued on a blockchain are nothing new, most public blockchains struggle to make any meaningful impact in this regard. Especially when it comes to applications outside of the cryptocurrency space, most public blockchains are not all that appealing right now. NEM, on the other hand, provides a fundamentally streamlined method of pushing blockchain technology beyond its limits
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The NEM blockchain powers what they call the Smart Asset System. This system is intended to be an open, customizable blockchain solution for any number of use cases built on top of simple, powerful API calls. The blockchain is secured and transactions are processed by a global network of nodes running the NEM core software, and the network is used as an API Gateway server. This means developers looking to build blockchain powered apps don’t need to run any special NEM software as all of the NEM functionality is available by accessing API calls. This allows for a lot of flexibility when it comes to system design and how various apps are making use of the NEM network. Apps can access the NEM API directly, access a separate server in addition to making NEM requests, or existing servers can be adapted to make use of NEM in the background.
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NEM coins are very good and since they were created NEM has always been potential, and we can see that NEM coins will continue and grow in the future.
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NEM (short for New Economy Movement) is a dual layer blockchain platform quite similar to Ethereum's, with the main difference being that the former is written in Java. Launched on March 31, 2015, it has a peer to peer cryptocurrency, having the ticker symbol XEM which is 'harvested' using a Proof-of-Importance (PoI) algorithm. NEM's the first cryptocurrency after Bitcoin to have built its code from scratch. Its mainnet supports multiple ledgers on its cryptocurrency layer. The powerful Smart Assets layer supports mosaics to represent any store of value.
NEM has uses in various fields like:
Financial management - financial payments, equity markets, creating a very own cryptocurrency and many more.
Business management - automatic accounting, KYC, loyalty reward points, shipping, inspection and supply chain management.
Secure records - encrypted messaging, anti-counterfeiting, authentication, etc.
Decentralised organisations - voting security and can be used for crowdfunding, stock ownership and ICOs.
Unlike BTC and many other altcoins, NEM/XEM cannot be mined, well not exactly. The process by which new XEM coins can be obtained is called 'harvesting'. The other way to have XEM coins is via exchanges and there are plenty of them like Binance, Bittrex, CoinSwitch, HitBTC, etc.
*I'm new to this cryptocurrency world and whatever I learn, I write. I know it's all basic stuff, but I hope that, for those who are, like me, newbies, this might help.*
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NEM, which calls itself the Smart Asset blockchain, is a technology platform that seeks to be an efficient way to manage assets and data easily and at low cost. (For more, see Top Non-Bitcoin Altcoins for Your Portfolio in 2018.) Let's explore NEM, its working, features, advantages, and its potential applications.
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NEM is one of the oldest cryptocurrencies. Blockchain protected. An open for any number of uses,
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I think NEM is most similar to Ethereum in what it's attempting to accomplish. Through the implementation of mosaics and Namespaces, NEM is able to create tokens like Colored Coins in the Ethereum blockchain.
Yes , I think NEM is similar to ethereum technology. But ethereum is more popular and always be top of altcoins. I have seen many opinion at this forum, NEM will have good future and compete with other. I hope it will happen soon.
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New Economy Movement.’ The platform wants to create a sustainable economy, guarantee financial freedom, and focuses on values such as equal opportunities and self-determination. XEM is the corresponding cryptocurrency. Behind NEM XEM are 70 people worldwide who take care of the platform.
What makes it a very popular is it has a lot of prestige all over the world. A blockchain platform.
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NEM so powerful is the Smart Asset System. Nodes on the NEM blockchain process API calls which makes it easy to develop for whether the dApp accesses NEM’s API directly through a server or in the background. Basically NEM built a blockchain-based cloud platform with a NEM Infrastructure Server made of secure, decentralized processing nodes on one side and a client side like the NEM Community Client which acts as a gateway.
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NEM is best crypto currency. It is a quality coin suitable for long term investment because it leads to a great future goal. The purpose of this crypto currency is to establish a new economic structure based on the principles of decentralisation. This coin is managed by the Nem.io foundation in the singapore.