NEM
Name
NEM
Summary
The New Economy Movement is abbreviated as NEM. NEM aspires to cater to enterprise blockchain sectors and has a wide range of applications.
-It was founded by Jeff McDonald
-It is secured by Proof of Importance consensus mechanism.
Rating
Symbol
XEM
Overview
NEM is hybrid open-source blockchain technology and private, permissioned ledger that aims to provide a more efficient, performance-oriented alternative to completely open-source blockchains like Bitcoin and Ethereum. NEM seeks to cater to enterprise blockchain sectors and has a wide range of applications (e.g. healthcare, government, and financial markets).
Historical Price Movement (in INR)
Technology
NEM is a Java and JavaScript-based blockchain protocol that claims to execute 100% original code. Instead of employing standard consensus methods such as Proof of Work (PoW) or Proof of Stake (PoS), the NEM network employs Proof of Importance (PoI), which aims to eliminate specific aspects of PoW and PoS that NEM dislikes. PoI employs a time- and stake-based network incentive that establishes a minimum number of coins required to begin "harvesting" new coins and requires ongoing coin investment to maintain the privilege of minting new coins.
NEM uses Ed25519 public-key signature system and the SHA3 hash algorithm to secure its network.
Use of Native tokens in the ecosystem: The NEM public blockchain's native currency is XEM, which is used to pay for transactions on the network. It is used to motivate the network of public nodes to execute and record transactions for the benefit of the participants.
Stakeholders
53%
Development fund
21%
Sustainability fund
26%
Volume (17th May 2022)
$17,344,042
Total Supply
8999999999
Circulating supply
9.00B XEM
Crowd Sales
NA
Funding
NA
Country
Singapore
Name of Organization
NEM.IO FOUNDATION LIMITED
Year Incorporated
2015
Registered Address
57 Mohamed Sultan Road #01-05 Sultan-Link Singapore 238997
Dispute Resolution and Governing Law
Singapore
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Jeff McDonald | Co-Founder | The University of Kansas: Master of Arts, Religious Studies (Ethics)The University of Kansas: Graduate Certificate, Peace and ConflictOklahoma State University: Bacherlor of Arts, Psychology | 19 Yrs |
Whitepaper 
