for all commercial banks? Yes, we at Invesd think this might be the reality! Cryptocurrencies and the blockchain technologies will play an important role in the new economy! A lot of big institutions and banks see the opportunity to add the blockchain to transactions.
NEM uses PoI, which stands for proof-of-importance. This means that (unlike Bitcoin and Ethereum), NEM is environmentally friendly, and more secure. Unlike mining Bitcoin and Ethereum, network upkeep does not require hundreds and thousands of electricity hogging mining machines. A NEM node can be run on a computer as simple and cheap as a Raspberry Pi, which is only $35 and takes up very little electricity. PoI also encourages people to actually use NEM, rather than just hoard it. For a more detailed explanation, check out the previous article comparing PoW, PoS, and PoI.
Another advanced feature is mosaics. This works similar to colored coins (custom currencies) in bitcoin, but is done completely on chain, rather than requiring the trust of a third party. The names of these colored coins are based off of namespaces, which are similar to how domain names work on the internet. Once a namespace is created, no one can claim the same one, and the owner can make unlimited subdomains.
A platform is never complete without messaging, and NEM includes either encrypted or unencrypted messaging between addresses, completely through the network. There’s even hex messaging for developers.
continually go up over the last couple of months. We should go back to early 2016 to see exactly what happened to NEM as a business and investment opportunity!
Back in February 2016, NEM had a market cap of around 5.000.000 USD. In July 2016 NEM had the highest market cap of around 150.000.000 USD and now in mid August NEM is back to around 50.000.000 USD.
NEM’s current market cap is over 55.000.000 USD and almost 300 Nodes Online!
is an advanced bitcoin 2.0+ system that has been in development since January of 2014. NEM is more than just a cryptocurrency. It is a peer to peer platform and it provides services like payments, messaging, asset making, and namespace system.
in NEM’s open source project is interesting. A lot of different developers and contributors. Here are several core developers to mention, most of whom stay anonymus.
- Core developers
STATE OF THE ART WEBSITE
A lot of interviews in the past have been published! Here are some important news (http://mijin.io/en/633.html) about NEM integrations.
A lot of high qualitiy tutorials to help out beginners
On top of that NEM there is the forum to ask all questions that are still open.
- NEM has made making or editing multi-signature contracts as easy as a few clicks
- It is the first easy to use web-wallet for everyone (my personal best experience!)
NEM is also superior in security. It uses EigenTrust++ for node reputation, which is not used in any other cryptocurrency, and strengthens the security of the network considerably. It also uses localized spam protection, which shuts down spammers, and only the spammers, when the network is at full capacity. Both are only found in NEM.
Unlike Bitcoin, multi-signature accounts are on the blockchain, and do not require trusting a third party in order to have a multi-signature account.
NEM was built with a two tier design in mind as well. If you want a wallet, you don’t need a full node and a copy of the blockchain. Instead, you can just connect to any node, and have access to all the same features without trusting it. Even a malicious node has no access to your funds, and the worst it can do is just not work. In order to make sure that nodes continue to operate, the developers created a supernode program, which gives a greater incentive for people to maintain the network for years to come.
Check our full rating and short summary in the end!
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