NEM (cryptocurrency)

NEM
Development
Original author(s)	Jaguar; Gimre; BloodyRookie
Code repository	https://github.com/NemProject
Written in	Java
Developer(s)	Jaguar; Gimre; Hatchet
Website	nem.io
Ledger
Timestamping scheme	Proof-of-Importance
Block explorer	https://explorer.nemtool.com

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NEM ( New Economy Movement ) is a public blockchain Launched on March 31, 2015.^[1]^[2]The native currency is XEM.^[3]

History

The idea for NEM came from UtopianFuture on the bitcointalk.org forum and was inspired by the NXT project to implement the NEM blockchain.^[4] The goal was to create a new economic zone based on the principles of financial freedom, decentralization, equality, and solidarity.^[5]

After an open alpha test and an open beta test, the mainnet was launched on March 31, 2015.^[1]^[6]

Design

XEM

NEM defines XEM as its native currency, with a total issuance of approximately 9 billion (8,999,999,999) XEM, all of which were issued when NEM went public and will not be issued again. XEM is used to pay for transaction fees and to reward those who approve transactions, known as harvesters.^[3]

Harvesting

NEM uses Proof-of-Importance (PoI) as a consensus algorithm, and the process of block generation is called harvesting.　　

In PoI, the importance of a NEM account is determined by the number of XEMs owned and the number and amount traded to and from the wallet, and about every minute, the fees in the block are randomly distributed to the wallet according to the importance.^[3]

Mosaic

NEM has the ability to issue tokens, and these tokens are called mosaics. The native currency XEM is a type of mosaic, a token that is built in from the beginning.To create a token, a domain name is created in the namespace area and a mosaic is created underneath it.^[7]

References

↑ ^1.0 ^1.1 "NEM Launches, Targets Old Economy with Proof-of-Importance" (in en). https://cointelegraph.com/news/nem-launches-targets-old-economy-with-proof-of-importance.
↑ "NEM" (in en). https://github.com/NemProject.
↑ ^3.0 ^3.1 ^3.2 "仮想通貨ネムとは｜初心者でもわかる仕組みとユースケースを紹介" (in ja). https://coinpost.jp/?p=203724.
↑ "An Introduction to the New Economy Movement" (in en). https://cointelegraph.com/news/an-introduction-to-the-new-economy-movement.
↑ "仮想通貨ネム（XEM）とは｜今後の将来性とおすすめ取引所" (in ja). https://coinpost.jp/?p=1321.
↑ "中国のCERT報告書：NEM(XEM)が最も安全なプロジェクト" (in ja). https://coinpost.jp/?p=12200.
↑ 馬渕邦美, ビットバンク株式会社 (2016) (in Japanese). ブロックチェーンの衝撃: ビットコイン、FinTechからIoTまで社会構造を覆す破壊的技術. 東京: 日経BP社. ISBN 978-4-8222-3659-5. OCLC 952367804. https://www.worldcat.org/title/burokkuchen-no-shogeki-bittokoin-fintekku-kara-aioti-made-shakai-kozo-o-kutsugaesu-hakaiteki-gijutsu/oclc/952367804.

External links

NEM official website

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[:1-1] 1.0 ^1.1 "NEM Launches, Targets Old Economy with Proof-of-Importance" (in en). https://cointelegraph.com/news/nem-launches-targets-old-economy-with-proof-of-importance.

[2] "NEM" (in en). https://github.com/NemProject.

[:0-3] 3.0 ^3.1 ^3.2 "仮想通貨ネムとは｜初心者でもわかる仕組みとユースケースを紹介" (in ja). https://coinpost.jp/?p=203724.

[4] "An Introduction to the New Economy Movement" (in en). https://cointelegraph.com/news/an-introduction-to-the-new-economy-movement.

[:3-5] "仮想通貨ネム（XEM）とは｜今後の将来性とおすすめ取引所" (in ja). https://coinpost.jp/?p=1321.

[6] "中国のCERT報告書：NEM(XEM)が最も安全なプロジェクト" (in ja). https://coinpost.jp/?p=12200.

[7] 馬渕邦美, ビットバンク株式会社 (2016) (in Japanese). ブロックチェーンの衝撃: ビットコイン、FinTechからIoTまで社会構造を覆す破壊的技術. 東京: 日経BP社. ISBN 978-4-8222-3659-5. OCLC 952367804. https://www.worldcat.org/title/burokkuchen-no-shogeki-bittokoin-fintekku-kara-aioti-made-shakai-kozo-o-kutsugaesu-hakaiteki-gijutsu/oclc/952367804.

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