Difference between revisions of "NEM (XEM)"

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Latest revision as of 08:56, 23 January 2022

NEM

Basics

  • Started in: 2015
  • Based in:
  • “New Economy Movement”
  • Currency, Exchange, Pegged assets within, instead of controlling just money, you can manage stock ownership, contracts, medical records, and stuff like that.
  • It appears to be the public counterpart to a private blockchain called Mijn, à la Ripple.
  • Also has another new sister blockchain, called Symbol (16-3-2021).

History

  • Founding can be traced back from NXT. Original investors (around 1500) paid NXT to get a XEM stake.

Token

ICO

Token allocation

Utility

Token Details

  • Inflationary economic model

Stablecoin

Tech

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].
  • They created the blockchain from the ground up, 100% new code.
  • Programming language used:

Transaction Details

  • Capacity (TPS):
  • Latency:
  • "Instant Transactions", Transaction take about 6 seconds to show up, and 20 to confirm.
  • You can write an additional message underneath your transaction, which costs 1 Nem per 15 characters.

How it works

  • NIS1 is the original NEM blockchain.
  • POI (Proof of Importance) which inherently promotes network usage as a currency rather than a storage of value.
  • Allows multi-signature wallets.

Staking

  • Works with “Super Nodes” needs 3 million NEM.

Privacy Method being used

  • Not a private coin, blockchain is totally transparent.

Oracle Method being used

Their Other Projects

NEM Hub

"NEM has launched a cryptocurrency-powered social media platform that pays out cryptocurrency as a reward. The platform is intended as a way to earn rewards for NEM marketing content, not as a site for general content. NEM Hub went live on July 15, following an early launch on June 12."

Symbol

  • Reinvented itself by launching its new Symbol blockchain (16-3-2021).

Governance

DAO

Upgrades

Roadmap

  • Can be found [Insert link here].

Audits

Bugs

Usage

Projects that use or built on it

Pros and Cons

Pros

  • Inherently encourages network usage
  • Multi-signature wallets
  • Consistent updates to the technology
  • Has been active in establishing partnerships

Cons

  1. "Something known as Catapult did not launch on mainnet
  2. There were complaints over silence from the developers
  3. The NEM foundation held an election, the results of which angered the NEM community, apparently
  4. NEM decided to partner up with Ripple and Cardano
  5. A Japanese exchanged called Coincheck got massively hacked, to the tune of $530m worth of NEM. The NEM foundation released a tool to blacklist those stolen NEM"

Competition

Coin Distribution

Team, investors, Partnerships, etc.

Team

Investors

  • In late 1-2019 the Nem foundation got into financial problems, reportedly only having funds left for 1 more month.

Partners 

CoinGecko, Travala, Fireblocks, Storj, Humingbot and GurdaWallet (12-3-2021).

 (:

Knowledge empowers us all and will help us get closer to the decentralised world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

NEM tip address: NDLLXRPKWJHMXOFHRVYRBN75ZXEWLJBXIKLAYK4W