Guides to Cryptocurrencies
NEM (XEM) Cryptocurrency and Blockchain Guide
What is NEM (XEM)?
NEM is the abbreviation for New Economy Movement and is a peer-to-peer transparent cryptocurrency and blockchain ecosystem that enables multiple ledgers to coexist on one blockchain. It is written in Java and uses the Proof-of-Importance (PoI) consensus algorithm to validate transactions, harvest its native XEM cryptocurrency and records reputation scores.
Full name: New Economy Movement (NEM)
Ticker Symbol: XEM
Coin Price: Latest XEM Price
Launch Date: 31 March 2015
Circulating Supply: Around 8,999,999,999 XEM
Algorithm: POI (Proof-of-Importance)
Organization: NEM Foundation
Block Explorer: chain.nem.ninja
NEM’s native cryptocurrency coin is the XEM token. Users who own more than 10000 XEM can become a miner to start harvesting with the PoI consensus protocol. When a user account harvests a block, it validates all transactions in that block and records them permanently on the blockchain to earn transactions fees for its owner.
President: Alexandra Tinsman
Vice President: Jason Lee
Council Member / Cofounder: Jeff McDonald