It is a crypto currency known as NEM for short, known as New Economy Movement. NEM coin is protected with blockchain. It works integrated with Bitcoin. NEM is a foundation coin. The NEM coin (XEM) has its own unique features. The abbreviation of this crypto currency is known as XEM. XEM is the native currency of the NEM public blockchain launched in 2018. Detailed information about what is NEM coin XEM and how does it work is in the continuation of the article. For information about Theta Fuel (TFUEL) coin, you can check here.
What is NEM coin (XEM) and how does it work?
Those who deal with crypto money also call this coin as XEM coin. For the first time, NEM coin was founded in 2018 by the company called NEM Foundation. NEM coin is managed by two big companies. At the same time, the supply is created by these companies and the necessary incineration processes are carried out by these companies.
NEM coin is seen differently by coin companies and also by other coins. It lies securely on the NEM blockchain network. Therefore, this coin is more preferred for international money transfers. It is said that NEM coin creates the most secure crypto network in the world in money transfer internationally. Therefore, all information is privately protected with the NEM coin public key signature system.
NEM is a P2P crypto currency and blockchain technology that enhances the core functionality of leading cryptocurrencies, providing a platform for the management of all types of assets, including currencies, supply chains, notarizations, property records. NEM’s Smart Entity system allows customizing the use of NEM’s blockchain, with features such as domain-like namespaces and multi-signature control on the full blockchain.
NEM is a dual-layer blockchain written in Java, a popular computer programming language, similar to Ethereum but unlike ETH, which is built with programming languages such as Go, C++, and Rust. XEM is not mined. XEM does not use PoS or PoW algorithms. Instead, it uses an algorithm called POI.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency