What is NEM (XEM)?

XEM is the native token of New Economy Movement (NEM) - a smart contracts platform tailored to business and individual solutions.
Buy XEM
What is NEM (XEM)?

NEM’s ecosystem is designed from inception for scalability and speed.

XEM operates on NEM’s NIS1 public blockchain in the same vein as BTC, recording transactions within a public ledger blockchain.
[object Object]

Proof of Importance (PoI)

XEM uses a different algorithm (as compared to the more common Proof-of-Work or Proof-of-Stake) to secure their blockchain. In essence, it functions similarly to Google’s PageRank to assign trust scores to different individuals. The higher their score, the more chance they have of being rewarded for mining.

[object Object]

Wealth Distribution

Due to XEM’s PoI consensus, even individuals with a smaller account balance of XEM can be rewarded more. They can do this by contributing more towards the NEM network, as an egalitarian caveat to conventional Proof-of-Stake methods where the more coins you earn, the more you make.

[object Object]

Ease of Development

NEM has modularity built in to allow customization for any use case you can imagine. As an example, NEMPay is a payment app that is already in use, but other uses may include loyalty rewards points tracking for customers, or supply chain management.

[object Object]

API Compatibility

NEM is API compatible, meaning that existing applications can be connected to and used within the NEM ecosystem. As an example, mobile or web apps can connect to the XEM blockchain, and then interact in a secure manner using the API.