NEM is a cryptocurrency that has recently gained momentum. Its community and blockchain have proven resiliency, and NEM jumped right back after being hit by a $400 million hack. Currently, NEM has the most active and engaged community online and seems to be carving a niche in the crypto industry. As more pilot programs go live, NEM will continue to gain ground.
The New Economic Movement (NEM) is a blockchain-based platform that makes asset management more effortless. The XEM native cryptocurrency operates on NEM’s NIS1 public blockchain. It works similarly to Bitcoin with a network of decentralized independent nodes that process transactions on a public ledger. Nodes are incentivized to participate in the network and maintain an incorruptible ledger. XEM coins are harvested for participating in the NEM network and are distributed on the network.
XEM has a robust community and blockchain, rebounding after a massive hack in the Coincheck ecosystem that cost $400 million. It has also managed to create one of the most engaging online communities in the industry. As more pilot programs launch, XEM’s price will likely rise. However, the NEM network mainly depends on its ability to support the projects that will eventually help it gain wider adoption.
New Economy Movement (XEM)
The NEM New Economy Movement has many benefits for you as a cryptocurrency investor. The NEM protocol supports public and private hybrid models and secure data transfer across various blockchains. This revolutionary digital currency has the same properties as Bitcoin but has a much larger circulating supply than Bitcoin. Its team members are spread worldwide, with no centralized authority to interfere with their work. If something goes wrong, NEM will be in no position to correct it.
Moreover, the NEM token is the backbone of NEM’s activities and is the only way to do transactions on the network. This token will reward you with rewards in the form of XEM when your transaction is validated. It’s available for trading on the most popular cryptocurrency exchanges.
Symbol’s interoperability with New Economy Movement (XEM)
The Symbol of NEM is a decentralized, interoperable blockchain that allows developers to build applications that integrate smart assets, public, private hybrid models, and atomic cross-chain swaps. See how can you also charity with bitcoin. Its architecture allows for creating specialized digital assets like non-fungible tokens, votes, and other currencies.
Moreover, it also supports a variety of security and governance features. Users will be able to customize their assets to meet their needs. The Symbol platform supports pre-configured smart contract functionality and offers top-level security features.
The Proof-of-importance (POI) consensus algorithm is at the core of the NEM network. This method uses several factors, such as the balance of coins held by users, their activity on the NEM network, and the importance of other user accounts. In addition to these factors, the proof-of-importance algorithm is decentralized, reducing the chances of exploitation and extreme price fluctuations. As a result, it is more energy-efficient and maintains decentralization.
Symbol’s platform facilitates interoperability among blockchains through its hybrid chain architecture, enabling users to deploy private and public chains with trustless data flows. Its APIs facilitate easy integration with other blockchain systems, manage delegated financial authority, and create specialized digital assets. XEM is also available as a utility token. XEM is not traded on any public exchange, so it’s easier to use than other cryptocurrencies.
In February 2019, the price of (XEM) was $0.04, and the forecasted end of the month was $0.078, a decrease of 16.4% from December’s close. In the future, the price could be $0.080 by April 2023 or as high as $0.2268 by March’s end. However, criticism may drive the price to $0.2268. A more conservative forecast has the token trading around $0.16 in 2018.
Final Words
Since NEM has been around for quite some time, it has attracted considerable attention from investors and industry insiders alike. Its popularity has led to it being listed on the same exchanges as other cryptocurrencies. It is solid proof of NEM’s future potential. Because NEM is decentralized, it can integrate with many different systems, including legacy systems. NEM also provides an impressive level of security.
