What is NEM (Kryptowährung)?
NEM is a Kryptowährung from Japan that was released to the general public in 2015. NEM stands for “New Economy Movement” and the Kryptowährung was originally planned as a derivative of the Kryptowährung NXT. However, during the course of the project, the developers decided to redesign NEM from scratch.
The special features of Kryptowährung
NEM is based on the “Proof of Importance” algorithm. This already makes it different in its basic principle from most other Kryptowährungs that use the Proof of Work algorithm. NEM is limited to a number of around 9 billion NEM tokens, all of which are already in circulation. The NEM-Blockchain offers its users some extremely interesting functions and features, such as:
- an integrated spam filter
- encrypted communication on the Blockchain
- a programming interface (API) that can be used with a variety of different programming languages
How the NEM works
The Kryptowährung is operated on a network of so-called “nodes”. The nodes are responsible for securing Blockchain and processing transactions. Each user who runs such a node on his computer is rewarded with a NEM token. In the NEM network, node operators are called harvesters. To operate a node, 10,000 NEM coins are required.
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