27/09/18 05:47 UTC-4

NEM is a data management platform

NEM or new economy movement?
NEM or new economy movement?

New Economy Movement (in simple words NEM) was formed in the virtual currency market as a modern shell for closed regulation of the economy, built on the principles of Blockchain. On the NEM platform, there is already a progressive management system called Smart Asset, which solves issues related to tuning the work of blockchain. Also, it allows you to use various applications, including as a gateway when conducting transactions on the network.

Interesting in the section: Bitcoin Gold as alternate currency

Work principles

The application programming interface is very convenient for network developers, because they can directly create applications with block communication, using the built-in API NEM function. Also, important is the fact that the use of the NEM network in offline mode is not excluded. On addresses of network users can be not only coins, but also various kinds of assets, including applications. At any time, information from the address is transferred to the block, where the importance of this content is determined. Thanks to the Blockchain algorithm, which requires consensus, network users get a decentralized platform with quickly managed nodes.

The work connected with the launch of the network protection mechanism and the consolidation of monetary units is connected by one software application, thereby stimulating users and increasing decentralization. Nevertheless, in Bitcoin network the situation is more pragmatic, so the analysis of the work on creating blocks and launching nodes are managed separately from each other. As a result, many analysts express the opinion that the PoI system has prospects and is a good alternative to the usual methods of confirming transactions.

NEM successfully develops various functions built on Blockchain technology. First of all, we are talking about allocating the reputation of each address depending on the history of operations and the accumulation of information from other nodes of the network. A built-in reputation system helps to get rid of bad nodes and ensure safe and quick work. In addition, you can configure the operation of spam-filters, encrypt messages and synchronize network devices.



As we have already said, the NEM system is designed in such a way that for its stable functioning it is necessary to confirm the importance of the transaction. Therefore, the network developers decided to limit the number of addresses that can give an assessment of importance. It turns out that for the adoption of a consensus it is necessary to have at least 10,000 coins. At the same time, NEM eliminates the possibility of centralizing the network, since PoI is not tied to the power of the computer.

Interesting in the section: VEN (VeChain): Description


To date, NEM is of interest to reputable organizations that use the chain of blocks to build effective schemes for managing the domestic economy. The new shell is quite attractive for application developers and for ordinary investors in blockchain technology.

Editor: Yuliya Soroka

#NEM #NewEconomyMovement #cryptocurrency



04/04/19 03:30 UTC-4

What is USDC? Complete Starter Guide for USD Stablecoin

​Description and characteristics USD Coin (USDC) is a type of cryptocurrency that is called a stable coin. You can always buy back a coin of 1 US dollar for 1 US dollar, providing it with a stable price.

12/07/19 05:00 UTC-4

Financial geography: countries where cryptocurrency is banned

Although cryptocurrencies have become an innovative novelty of the modern financial sector, they are not accepted in all states. There is a list of countries where the possession of cryptocurrency assets is not only prohibited, but also criminally punishable.

25/06/19 10:16 UTC-4

With the CEX.IO app, Bitcoin is in your pocket

​In a very short period, many cryptocurrency applications have appeared, worth billions of dollars. Cryptocurrency trading is now entering the mainstream, and traders should check prices constantly and even on the go on their Android or iOS devices.

12/05/19 05:00 UTC-4

Buy Bitcoin in 2010: how much did those who invested in BTC earn a few years ago?

​Bitcoin is the first and most popular cryptocurrency in the world. The maximum price increase of digital gold was recorded in December 2017, when the cryptocurrency overcame a maximum of $ 20,000. However, many do not recall that at the beginning of their existence, BTC coins were worth less than one dollar.

31/01/19 07:56 UTC-4

Proof of Work (PoW) – consensus algorithm and mining-tool

Today, cryptocurrencies have become an integral financial instrument. Many countries use crypto-coins and blockchain to improve the financing system and other areas of life. One of the popular terms that often appears in conversations about cryptocurrency is Proof of Work or PoW.