NEM (New Economy Movement) is a blockchain platform that was launched in 2015. It was created by Japanese developer Jinta Takemoto and his team with the goal of creating an innovative platform for various applications in finance, business and social networks.
NEM Features
One of the main features of NEM is its Proof of Importance (PoI) consensus algorithm, which reduces mining energy costs and increases transaction speed. Under PoI, users receive a certain rating, which depends on their activity in the system, and not just on the power of their computing resources, as is the case with the Proof of Work (PoW) algorithm.
NEM also offers its own wallet with support for multi-signature and encryption, which ensures highly secure transactions. In addition, thanks to the Smart Asset System protocol, users can create their own unique assets and use them for various purposes, including organizing an ICO.
Pros and cons of NEM
Among the advantages of NEM are high transaction processing speed, high level of security and an effective consensus algorithm. In addition, thanks to the ability to create unique assets, NEM allows the platform to be used for a wide range of tasks.
However, there are some disadvantages to NEM. For example, unlike other popular blockchain platforms, NEM does not have widespread support from the developer and user community. Additionally, the platform's capabilities may be limited for certain types of businesses, which may limit its use in certain industries.
Overall, NEM is an interesting blockchain platform with several unique features and strengths, but it also has some disadvantages and limitations that may limit its use in certain cases.
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