NEM is also known as the New Economy Movement. It is a blockchain technology initiative that aims to assist businesses in powering their critical private infrastructure.
NEM was built from the ground up, with features like ‘harvesting’ and ‘proof of importance’ distinguishing it from other similar projects.
NEM began as a fork of the NXT, another prominent blockchain-based virtual currency and payment network platform, in March 2015.
It is run by the NEM.io Foundation, a Singapore-based non-profit organisation. Following the split, NEM.io chose to create its own codebase to improve NEM’s scalability and performance. Thus, a new NEM cryptocurrency platform arose that was opposite to the original NXT.
NEM’s native token (XEM) serves as both a digital asset and a medium of exchange.
NEM created its own blockchain from the ground up, and it features novel utilities that are noteworthy and promising. However, because these distinctions are insignificant on their own, if NEM cannot grab a sizable portion of business enterprise as planned, it will have little to offer than its competitors.
The current NEM cryptocurrency price is $0.1979.
Business: They got a blockchain-based solution developed exclusively for business as an onramp into the crypto sector.
Mobile App: It is developed to be compatible between dApps and critical business infrastructure.
Trade: Invest and trade in NEM coins and gain when the NEM coin price increases.
A retail store chain may use NEM to manage loyalty reward programs, or a shipping enterprise can work on details regarding logistics are some of the other uses of NEM.
Yes. NEM is listed on cryptocurrency exchanges such as CoinSwitch Kuber.
CoinSwitch, India’s largest crypto exchange, is a safe and reputed investment platform. In keeping with its mission to “Make Money Equal for All,” the company prioritizes quality in its product and the safety of all stakeholders.
Cryptocurrencies have emerged as an attractive investment option in recent years, capturing the imagination of investors despite their high volatility.
A simple explainer can be a pretty rare thing in a realm as complicated as the cryptosphere. That’s what we are here to change—one article at a time.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
NEM is a blockchain technology initiative that aims to assist businesses in powering their critical private infrastructure.
900 Cr. XEM
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