NEM
(XEM)Interesting Facts
The network aims to provide a service enterprise of blockchain markets with versatility and diversity. NEM means New Economy Movement.
The core characteristics of XEM tokens are zero-inflation, scalabiliy, power-efficiency, and an ecosystem driven blockchain.
The tokens are used to pay for transactions within the NEM public domain. It also benefits users to receive incentives on the public node process and participants' record transactions.
NEM uses proof of important consensus to rate how many XEM tokens people can harvest. It will take 10,000 XEM tokens for a person to be scored or rated.
Project in a nutshell
The NEM project is created to evolve its ecosystem and optimize its blockchain systems for a successful and more significant platform. It is uniquely designed to process API calls.
The NEM ecosystem is composed of Symbol, NEM Ventures, NEM community, and NEM NIS1. These four functions are to connect business with blockchain, identify investment projects using blockchain, build and improve brand technology, and explore, create and innovate the blockchain system.
More in-depth review of the project
NEM runs a dual-layer blockchain that supports multiple ledgers using the NEM smart asset system. This is where nodes on the blockchain do their process of API calls.
You can harvest XEM tokens through its proof of importance algorithm. This is determined by the number of coins you own and the number of transactions associated with the user's wallet.
The platform also runs on an encrypted, person to person, multisignature accounts, Eigentrust reputation system, and a messaging system.
Future plans
Testnet Release. Catapult release candidate, update on the testnet, which is currently at 0.9.3. This includes guidelines in node setup, branding, and Symbol Media Kit.
Stand Alone Mobile Application. This development is intended for users who do not have a PC. It will also expand the number of users on the platform.
Migration Technology. These are updates on the guidelines and documentation of shared and created projects done by partners to migrate to Symbol successfully.
Launching of the Symbol Mainnet and Academy. The Symbol mainnet code will be fully open-source and apply a multilingual educational platform from entry to university level on developing for Symbol.
