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What is NEM Cryptocurrency?

NEM (XEM) is a decentralized, open-source cryptocurrency and blockchain framework launched in March 2015. It is written in Java and JavaScript with 100% original source code. NEM has one of the most secure and advanced consensus mechanisms (Proof-of-Importance - or POI) and is designed to be even more energy efficient than other types of blockchains. The founders of NEM have developed a variety of features that make it highly secure, safely decentralized and easy to use.

NEM operates on a unique blockchain technology known as “NEM Smart Asset System”. It is one of the first blockchains to integrate built-in SafeNet, which protects user identities and transactions from theft and tampering. The NEM blockchain uses a Delegated Proof of Stake (DPoS) protocol for consensus, meaning that the network is managed by a limited number of trusted nodes. This helps increase network speed, reduce energy consumption and improve security. NEM also has an innovative approach to mining, which rewards users for making contributions to the network.

The NEM ecosystem also includes a cryptocurrency, XEM, which is used as a medium of exchange between users. XEM is a decentralized, proof-of-work token that is released through regular mining of the NEM blockchain. XEM is traded on a variety of cryptocurrency exchanges and is currently the 13th most valuable cryptocurrency by market capitalization. It is also used to pay transaction fees on the NEM blockchain.

The NEM platform has a number of unique features that make it attractive to businesses and developers. For example, NEM has a powerful API and an easy-to-use modular system for developers. It also has built-in features such as automated escrow and multi-signature transactions that make it attractive for businesses. NEM also has a strong financial incentive for developers, with up to 10% of the network fees used to fund the NEM Foundation and pay rewards for the development of applications on the NEM platform.

In addition to its features, NEM has a well-developed community with an active forum and a vibrant developer ecosystem. The NEM Foundation, a non-profit organization, actively promotes the use and adoption of NEM products and services. The NEM Foundation works with businesses, developers and governments to promote the widespread use and adoption of the NEM blockchain. The NEM Foundation also provides technical and educational support to developers, universities, and businesses.

Overall, NEM is a reliable, secure, and energy efficient public blockchain with a strong and active community. Its advanced features and incentives make it an attractive choice for businesses and developers, while its safety measures and ease of use make it an attractive investment for individuals. With more businesses, developers, and users adopting the NEM blockchain every day, NEM is quickly becoming a major player in the world of cryptocurrency.

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