What is NEM (XEM)?
NEM is a peer to peer, open source, decentralized cryptocurrency written is Java and C++ and gives multiple newer features including POI algorithm, encrypted messaging and multi-signature accounts. NEM started out as a fork of NXT, another open source cryptocurrency and payment network platform, but soon got its codebase after the development team at NEM.io Foundation decided to rebuild the system from the group up.
NEM (XEM): History
NEM was introduced by ‘UtopianFuture’ a Bitcoin user, who wanted to build a community-oriented cryptocurrency. The Alpha version of NEM was released in June 2014, followed by Beta version in October 2014. The stable version of NEM was introduced in March 2015, and the major update is to be released in 2017. Mijin, a commercial blockchain used NEM blockchain, and also many other financial institutions and private companies use NEM.
How Does NEM (XEM) Work?
NEM works just like Bitcoins as it uses blockchains to convey transaction data and miners to approve the payment. When a payment is started, the user required to send the receivers wallet address also the amount of NEM to be transferred to the network. The nodes then approve (or disapprove) this payment and once approved, the receiver receives the payment. There will be a tiny fee for every transaction. However, unlike Bitcoin, a basic user (unlike power users) don’t need to download the complete blockchain to make transactions. Supernodes (nodes with high computation power) can help these users to process the payment.
How to Buy NEM (XEM)?
First of all, get a NEM wallet to store your coins. Then set up a password for the wallet. Make sure that you won’t forget the password; if you do, you can’t access your coins. Then buy Ethereum by using Coinbase. After that, exchange Ethereum for NEM.
NEM (XEM) Price Prediction 2018
XEM can be a profitable investment option. NEM price equal to 0.559 USD at 2018-02-07. If you buy NEM for 100 dollars today, you will get a total of 178.814 XEM. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-02 is 1.694 US Dollars. With a 5-year investment, the revenue is expected to be around +202.84%. Your current $100 investment may be up to $302.84 in 2022. NEM (XEM) price today is $0.557419 and have the current supply of 8,999,999,999 XEM. The market cap value is $5,016,770,999, and the volume is marked as $65,968,200. NEM price prediction, NEM price forecast, NEM price and news, XEM price forecast, XEM price prediction 2018, What is the price of NEM 2018.