The rate of NEM to us dollar (XEM/USD). Cryptocurrency quotes online. Price XEM/USD today.
Chart NEM to xem/USD dollar online in real time. Moscow Time. GMT+3 MOSCOW TIME. Data from the exchange POLONIEX.
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The name NEM has received as abbreviation New Economic Movement (New Economic Movement), the technology network called NEM Mosaics, and basic algorithms – POI and Eigentrast++. These algorithms and makes this cryptocurrency unique and exalt it above many other coins working on algorithms for POS and POW.
The POS algorithm is a system of Proof-of-Stake (in translation – proof of stake), in which the security of the network depends on the amount of cryptocurrency on user accounts.
The pow algorithm is a system of Proof – of-work (in translation-proof of work), in which the network security depends on the computing power of the participants.
Most cryptocurrency systems work on the basis of such algorithms. In which your importance depends on how many coins you have in your account or what computing power you use.
The creators of the NEM decided to move away from this practice and created its own algorithm — POI (Proof-of-Importance that the translation of the proof of importance), which gives the advantage to those who make a real contribution to the economy depending on the activity.
In parallel, the NEM uses the algorithm Eigentrast++, which is responsible for verifying the reputation of the nodes, directing a transaction only through nodes with a high degree of reputation, while avoiding nodes with a low degree of reputation. The reputation criterion is directly proportional to the number of successful transactions.
Thus, using the NEM client, the user becomes a node (node). The client is responsible for verifying transactions and protecting the network. At the same time, the POI algorithm distributes the reward between nodes according to the criterion of their activity in the network, regardless of what hardware capacity they use and how much money on their wallets, and The eigentrast++ algorithm makes the system work only with those nodes whose reputation is checked.
Also, the advantages of the NEM system include a much smaller amount of coins that can be mined in the future – up to 9 million, as well as a smaller resource intensity, which is necessary for mining.
The NEM project team is seriously focused on the conquest of the real financial sector and is currently negotiating with a number of banks for the use of the NEM system in the banking system. In the future, this factor will become one of the main drivers of growth.
Also, the nem platform is actively used to launch new “colored” coins (ICO) and raise funds for their development.