Logo NEM XEM

Blockchain consensus built on a unique Proof-of-Importance algorithm similar to Google's PageRank

0.1557 -10.88%


What is NEM?

NEM is an acronym for New Economy Movement, an open source, decentralized platform use blockchain and cryptography that able to provide solutions for enterprise and individuals. NEM runs on Proof of Importance (PoI) consensus mechanism, which is use to reward active participants. PoI speed up transaction process using delegated harvesting system. The system is It is environmentally sustainable and does not require high scale computing resources. NEM aims to be an ecosystem that focuses on security and permissionless computing. The network uses a modified version of Eigentrust++ to detect and minimizes impact of malicious nodes.