For several years, the cryptographic world has been monopolizing the attention of the Internet, and since the Bitcoin was born (the first virtual currency), new proposals have emerged based on blockchain technology, one of them is the cryptocurrency of NEM, know a little more about her.
What is NEM?
NEM is the acronym of the phrase New Economy Movement (Movement of the New Economy), is a technological platform that aspires to bring novel features to the world of cryptography, this system is cataloged as an open source software written in Java.
Everything you need to know about the NEM proposal
XEM is the name of the cryptocurrency that is developed in the NEM platform, this began to be built from scratch under blockchain technology, which has allowed bringing new features to optimize the performance of the business world worldwide.
How this cryptocurrency was born
One of the developers of this software was inspired by Nxt (an open source cryptocurrency) for the creation of NEM; the initial idea was to create a branch of Nxt, however, this goal was discarded with the passage of time, since the code that was generated was completely new.
On June 25, 2014, the first phase of this cryptocurrency is launched, in this opportunity the collaborators of the project distributed some units of the XEM cryptocurrency. Subsequently, in March 2015 developers presented a more stable version, however, it should be corrected in the following versions.
For April 2016, NEM is associated with Tech Bureau, a leading company in the exchange of cryptocurrencies in Japan. The objective of this alliance was to create an innovative blockchain system based on the Mijin platform, a year later Catapult was born, a platform for high performance that is giving excellent results in recent months.
What is the innovative thing that NEM brings and how it differs from other blockchain platforms?
In recent months the NEM platform has undergone an amazing growth, which allowed it to be among the top 10 cryptocurrencies with Bitcoin and Ethereum.
The NEM system operates transactions in a manner very similar to other platforms, which work under blockchain technology with open source, so it allows operations to be made with the XEM cryptocurrency, but unlike Bitcoin and Ethereum, this platform includes the registration of several domain names, create accounts with several owners and even send messages.
Smart asset registration
The most striking of all, is the intelligent asset system of NEM, which has the advantage that the blockchain can be modified in its entirety at the convenience of the user, so that you can register almost any smart asset .
The objective is to offer a platform worldwide, in which any type of asset is managed, so through it you can register notarized documents, copyrights, property titles, among others, and once all this is Within the NEM platform, you can transfer or register them without the need for a notary or property registry to intervene.
The NEM algorithm is also controversial
The Bitcoin algorithm demands enormous power in the hardware when it comes to the mining of this cryptocurrency, whereas the NEM platform uses an algorithm based on the POI system (importance test).
This algorithm allows NEM to mark the time in which transactions are made, in order to measure the use that is given to the platform, the objective is to motivate users not only to retain XEM, but also to keep it constant. movement through the different transactions.
NEM Platform in the business world
This platform aims to have the best blockchain technology for the administration of a company, this is motivated by the fact that it can manage various aspects, some of them are:
The accounting
This platform allows to automate accounting in real time, thanks to the fact that transactions and documents uploaded to this network are not detected and can be kept in the blockchain.
Track your customer
Thanks to the ability of NEM to store different types of assets and documents, you can track the information of each client, so that you can get to know them better, as each transaction you make with a customer is automatically recorded, and you will have it available at any time.
Shipping cost
With the blockchain technology of NEM, you can save up to 20% of the cost of shipments, and this platform allows all files are available anywhere in the world and immediately.
Management in the supply chain
At this point, the blockchain system of NEM reduces the costs with respect to the administration of the logistics of an organization, since all the management is registered automatically and in real time, allowing to improve the performance of this process.