The world electronic money market does not stand still and is continuously developing, offering the consumer new products. One of these new projects is NEM altcoin (XEM). Following review details about what the NEM (XEM) is, its key advantages and features, how to acquire or extract it, and other useful information.
History of the NEM (XEM) creation
The name of the cryptocurrency was derived from the abbreviation “New Economic Movement”. The developers are specialists from the company NemProject, who founded the project about two years ago. The main product of the company is the HEM (XEM) cryptocurrency, which is especially popular in Japan at the moment. The main goal of the project was the improvement of modern protocols and mechanisms of the Blockchain technology to increase the level of security, the confidentiality of user data and the acceleration of transactions.
The basic information about the NEM (XEM) cryptocurrency
What is NEM (XEM), and how does this cryptocurrency product differ from analogs on the exchange market?
The development of the NEM coin (XEM)
The NEM (XEM) cryptocurrency was in the initial testing phase for about six months. After that, the developers transferred the project to the beta version, and the official launch and use of NEM (XEM) occurred in May 2015.
If we talk about what is 1 NEM (XEM), then it should be noted that last year the coin significantly increased in price and entered the list of leaders in market capitalization. For today, on February 7, 2018, 1 NEM is equal to 0.615063 dollars USA . You can calculate the equivalent of a coin in Bitcoins, focusing on the current rate of the American currency.
The key features of the coin NEM (XEM)
One of the differences between XEM and analog products is the use of the POS-model, which means that you have much more chances to get cryptocoins blocks when using POS than other network users who do not use this option. If successful, you get «Harvest» – it is a variant of the development of the farm. General NEM (XEM) amount is 9,000,000,000 coins in the absence of additional emission, which gives you an understanding
of your possibilities for profitable investments in this cryptocurrency.
Like other crypto-currencies, NEM can be purchased or exchanged on many modern exchange exchanges on the Internet. By the way, last year a very positive trend was observed – in one of the periods the rate of the cryptocurrency fell sharply, and then it went up at once ten times, which provided huge earnings for investors.
Separate attention deserves the Proof-of-Importance protocol of consent, which is somewhat similar to the share confirmation protocol, but it has a much larger number of values. During its development, the creators used various mathematical functions of clustering the rating and the network. At the same time, special emphasis is placed on transactions conducted during last month.
Proof-of-Importance consent protocol allows you to find solutions to two main issues:
- The desire to accumulate funds in the absence of currency transactions. The system works in such a way that it is much more profitable for you to trade in cryptocurrency, rather than accumulate dead cargo;
- The ability to get the status of the collector to create blocks is calculated taking into account your activity and the importance of your account, which excludes fork dragging.
The main shortcoming of this cryptocurrency is a short time of existence – it has not yet managed to acquire a sufficient number of active users. Developers are constantly improving their project, and also releasing the associated products, for making NEM platform more complex and full of opportunities for use in a variety of areas. At the moment, NEM has all chances to become one of the leaders of the cryptocurrency market, having fixed in the first ten tokens in terms of market capitalization.
Earning and purchasing of the NEM (XEM)
Due to a relatively short period of existence, the NEM-coins cannot be bought on all existing stock exchanges. The most effective option will be the use of special clients which track the most favorable exchange rate at the moment. Also, you can buy coins on stock exchanges or exchange them according to the current exchange rate. Usually, all new products on the general cryptocurrency market imply the possibility of mining, unless, of course, it has not been excluded by the developers. If you are interested in tokens NO, then you have very promising opportunities for earning, using the XEM coins for exchange and trading on exchanges.
Now let’s look at how you can get NEM (XEM). The first thing you need to work with any cryptocurrency is a digital wallet. NEM wallet (XEM) is best to download and install from a trusted source.
This is the official site of NEM (XEM) – https://nem.io. Here you will find all the latest information about the product and the company-developer, and you can choose the version suitable for your device to download.
To get your own wallet and address to make transactions using NEM coin, you need to go through a fast and simple registration procedure. In order to receive funds, simply indicate the address in the appropriate box on the site that you use for trading and exchanging cryptocurrency or during the normal user exchange.
The NEM wallet (XEM) can be presented in various formats, which differ in the level of security when using a different kind of keys. Choose the option that suits you and start working. The interface is simple and straightforward even for a beginner.
Now about the ways of extracting NEM coins. If you’re interested in actual coin earning, not trading or purchasing, then we can identify such methods among the techniques for obtaining XEM-coins:
- Equipment for mining. In this case, you will acquire a permanent source of new coins. At the same time, the equipment of a powerful and efficient farm requires a sufficiently powerful specific equipment that will pay for itself only after a certain time. This will be the preferred option in case you can afford investment with earnings in the long run.;
- Use of production facilities. In this case, you need devices with powerful modern graphics cards to extract blocks from shared pools. In this case, you will receive the minimum deductions, but quite often and starting from the very beginning of extraction. In addition, you will not need to invest much money in the arrangement and maintenance of a powerful farm for the cryptocurrency mining.