About NEM Coin (XEM) and its History
NEM boasts of conducting all kinds of decentralized transactions securely and quickly. The wait-time is one of the most crucial concerns of the cryptocurrency community, as the number of transactions are increasing on the network by each passing day. Bitcoin's long wait-time has frustrated many users, who decide to move to other cryptocurrencies instead. NEM and other alt-coins have a high anticipation in terms of wait-time, transaction fees and other small things that have begun to matter now, because of the cut-throat competition.
Harvesting instead of Mining
As traditional cryptocurrencies like Bitcoin require mining, NEM requires harvesting
. It functions on the feature that the user must have 10,000 vested XEM coins in his NEM Wallet, that he can earn using the processing power of his computer, by running super-nodes.
What makes NEM popular enough to feature among top cryptocurrencies of the world?
NEM Coin is said to follow the path of Ripple, as it rose to heights in just one year. Only in 2017, NEM coin's price hike was more than 17,000%. Just in one month, the coin gained more than 475% alone
. Another factor to consider in NEM is its stronghold and solid approach in smaller countries, than targeting big markets. NEM cryptocurrency focuses on small businesses and enterprises, because of which its target audience has always been the communities that did not hear about Bitcoin or any other cryptocurrency at all. With such a crowd, it becomes easier to emerge as the first player. Rather than compete in an already bloody market of blockchain based currencies that have higher popularity in the global market.
Additionally, NEM is not a simple blockchain platform - it is a smart-asset blockchain, that allows users to customize their blockchain platform and craft their own smart contracts, where they can store their digital assets or other cryptocurrencies.
South Korea and its popular cryptocurrency exchange OKEx is also highly responsible in making NEM reach the level it is at today. There are many social media links and groups like - NEM Reddit, NEM Telegram, NEM Github etc. They talk about the latest innovations happening in the NEM Coin (XEM) and its network.