NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.

NEM (cryptocurrency)

NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015.

NEM (cryptocurrency)

NEM is a peer-to-peer cryptocurrency and blockchain platform launched on March 31, 2015. Written in Java,with a C++ version in the works, NEM cryptocurrency has a stated goal of a wide distribution model and has introduced new features to blockchain technology such as its proof-of-importance (POI) algorithm, multisignature accounts, encrypted messaging, and an Eigentrust++ reputation system. The NEM blockchain software is used in a commercial blockchain called Mijin, which is being tested by financial institutions and private companies in Japan and internationally


NEM was started by a Bitcoin Talk forum user called UtopianFuture who was inspired by Nxt. The initial plan for NEM was to create a fork of NXT, but this was eventually dismissed in favor of a completely new codebase. Starting on January 19, 2014, an open call for participation began on the Bitcointalk forum. The goal of the call was to create a community-oriented cryptocurrency from the ground up The NEM project was not a legal entity at the time, though there have been recent efforts to change this. Stakes of NEM were to be distributed to those who contributed to the project in amounts of 2.25 Million XEM. As the project evolved, people were able to redeem the stakes they had paid for. As NEM was not a legal entity, there was an uncertainty if the people running the redemption would leave. As a result, an 8-month deadline was created. All unclaimed funds were decided to be put aside for the development of NEM.

DateOpenHighLowCloseVolumeMarket Cap
Jan 05, 20181.691.811.511.59175,192,00015,195,600,000
Jan 04, 20181.842.091.541.64332,371,00016,520,300,000
Jan 03, 20181.151.801.151.79265,016,00010,333,700,000
Jan 02, 20181.,186,0009,374,970,000
Jan 01, 20181.,202,8009,315,310,000
Dec 31, 20170.9174151.080.9094891.0369,870,1008,256,740,000
Dec 30, 20171.051.050.8930580.92688373,225,3009,427,530,000
Dec 29, 20170.9126201.060.8902311.06105,782,0008,213,580,000
Dec 28, 20170.9443100.9528240.8415340.90974152,492,7008,498,790,000
Dec 27, 20170.9836160.9941820.9095450.94446453,708,4008,852,550,000
Dec 26, 20170.9993411.010.9255470.98838065,543,3008,994,070,000
Dec 25, 20171.041.140.9455851.01122,425,0009,378,680,000
Dec 24, 20170.9402831.040.7872981.0498,134,1008,462,550,000
Dec 23, 20170.8366460.9976630.8202640.92716677,666,4007,529,810,000
Dec 22, 20171.011.030.5927090.816177187,781,0009,100,960,000
Dec 21, 20170.9499661.050.9135110.998102112,835,0008,549,700,000
Dec 20, 20170.9414011.040.8157500.918996119,243,0008,472,610,000
Dec 19, 20170.8513901.060.8513900.942962242,843,0007,662,510,000
Dec 18, 20170.6866630.8461930.6845490.846193114,759,0006,179,970,000
Dec 17, 20170.6564080.7478240.6441320.68782783,063,9005,907,670,000
Dec 16, 20170.5876550.7163280.5788990.65799999,889,0005,288,890,000
Dec 15, 20170.6014220.6101920.5038000.59268269,296,2005,412,800,000
Dec 14, 20170.5359650.6161280.5152540.61004587,375,2004,823,690,000
Dec 13, 20170.5292580.5563060.4996140.52385856,148,6004,763,320,000
Dec 12, 20170.4953420.5742110.4610910.534018106,068,0004,458,080,000
Dec 11, 20170.3939200.5040220.3939200.49053071,627,1003,545,280,000
Dec 10, 20170.4447020.4447020.3342560.39396677,311,8004,002,320,000
Dec 09, 20170.6841880.6841880.3852520.445482211,103,0006,157,700,000
Dec 08, 20170.2350380.6567890.2191790.639449267,451,0002,115,340,000
Dec 07, 20170.2714190.2756600.2309220.23628330,563,7002,442,770,000

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Cryptocurrency Benefits and Drawbacks

Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.

Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.

But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.

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