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What is NEM (XEM)?

NEM basic info

Name:NEM
Ticker:
Introduction:

What is NEM?

Established with the vision to enhance the interoperability and scalability of blockchain networks, NEM (New Economy Movement) has carved a niche for itself as the "Smart Asset Blockchain". Created in 2015 as a fork of another blockchain called NXT, NEM aims to bridge the gap between private and public blockchains, thereby fostering a seamless flow of digital assets and data.

NEM operates as a programmable blockchain network, akin to Ethereum, but distinguishes itself with its unique Proof of Importance (PoI) consensus mechanism. This Java-based, API-integrated platform facilitates the creation and management of smart assets, allowing users to model real-world assets on the blockchain. Its versatility and user-friendly interface have garnered attention, especially from enterprise-level clientele, seeking to revolutionize asset management and data sharing through blockchain technology.

Resources

Whitepaper: https://nemproject.github.io/nem-docs/pages/Whitepapers/NEM_techRef.pdf

Official website: http://nem.io/

How Does NEM Work?

At the core of NEM's functionality is its innovative Proof of Importance (PoI) consensus algorithm, a departure from the conventional proof-of-work and proof-of-stake systems prevalent in the blockchain sphere. The PoI system rewards users based on their network activity and the amount of XEM tokens they hold, fostering a more engaged and growth-oriented community. This consensus mechanism takes into account the time and amount vested in the NEM network, encouraging authentic transactions and network growth.

To further enhance efficiency and security, NEM introduced the concept of Harvesting, where users, with a minimum of 10,000 vested XEM, can generate new blocks and receive rewards. This process is facilitated through supernodes, which form the backbone of the NEM ecosystem, allowing for a more energy-efficient and democratized blockchain network. Moreover, NEM's blockchain integrates the Eigentrust++ algorithm to maintain the PoI reputational architecture, ensuring only quality contributing nodes are part of the consensus system.

What is XEM Token?

XEM is the native utility token of the NEM blockchain. Users can vest XEM tokens to gain voting rights and block approval rights, enhancing their role in the network's growth and governance. Apart from facilitating lightning-fast transactions, XEM tokens are instrumental in creating customizable crypto tokens that can be used for various applications, including voting rights or as a store of value.

The XEM token has a maximum and circulating supply of 8,999,999,999 units, playing a pivotal role in transaction validations through the Proof of Importance system. The harvester's importance score, which is crucial in the validation process, is determined based on their vested stake, net transfers, and cluster nodes, promoting a more engaged and authentic network transaction environment.

NEM's Impact on Finance

NEM has emerged as a disruptive force in the financial sector, offering a more efficient and secure alternative to traditional asset management and data sharing systems. Its focus on fostering interoperability between private blockchain networks has positioned it as a vital player in the mainstream adoption of blockchain technology. Moreover, its partnerships with companies like Unibright and Good Crypto signify its growing influence in the blockchain ecosystem.

However, NEM has faced challenges, including issues of mismanagement and a decline in web presence. The launch of Symbol, a new blockchain project, has raised questions about NEM's future trajectory. Despite these hurdles, NEM continues to showcase resilience, with signs of ongoing activity and community engagement, hinting at a potential resurgence in the evolving blockchain landscape.

What Determines NEM's Price?

In the ever-fluctuating world of cryptocurrencies, the NEM price today is influenced by a myriad of factors that potential investors keenly observe on the NEM (XEM) price chart. A critical aspect that shapes the current NEM (XEM) price is the market sentiment, often swayed by NEM crypto news and developments within the blockchain technology sphere. Investors and market analysts frequently turn to XEM price analysis to gauge the potential trajectory, relying on historical data encapsulated in the NEM (XEM) price history to make informed predictions. Furthermore, the NEM (XEM) market cap plays a pivotal role in determining the XEM token value, with a higher market cap often indicating a more stable price outlook.

As enthusiasts keep a close eye on NEM price live updates, several ponder over how much is NEM worth today. The answer to this question is multifaceted, encompassing aspects such as the broader market trends, developments in blockchain technology, and the overall sentiment in the cryptocurrency market. The NEM price forecast is also significantly influenced by its utility and adoption rate, with a surge in usage potentially leading to a price rise. Conversely, any negative news or developments can lead to a NEM price drop, reflecting the volatile nature of digital currencies.

Looking ahead, the NEM token future prediction is a topic of vibrant discussion in the crypto community. Many base their XEM price prediction on factors such as technological advancements within the NEM ecosystem, partnerships, and collaborations that can potentially bolster the NEM digital currency price. Investors keen on the XEM to USD price often turn to expert analyses and market trends to navigate the turbulent waters of cryptocurrency investments. As the NEM cryptocurrency price continues to evolve, keeping abreast with the latest NEM (XEM) price update becomes vital for making informed investment decisions, fostering a proactive approach to capitalizing on potential price rise opportunities in the future.

Conclusion

In conclusion, NEM stands as a notable figure in the blockchain network arena, leveraging its unique Proof of Importance consensus mechanism to foster a more engaged and growth-oriented community. Despite facing challenges, including managerial issues and a fluctuating web presence, NEM continues to showcase a remarkable resilience, hinting at a promising resurgence in the dynamic blockchain landscape. Its potential in revolutionizing asset management and facilitating a seamless interoperability between private and public blockchains cannot be understated. As investors closely monitor the NEM price and the factors influencing it, such as market sentiment and technological advancements, NEM positions itself as a disruptive force in the financial sector, encouraging authentic transactions and network growth through its innovative features and community-centric approach.

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Current price:
All-time high:$2.09
All-time low:$0.{4}7930

XEM supply and tokenomics

Circulating supply:9,000,000,000 XEM
Total supply:8,999,999,999 XEM
Max supply:8,999,999,999 XEM
Market cap:$240.90M
Fully diluted market cap:$240.90M
Token allocation:
Stakeholders
53.00%
Sustainability fund
26.00%
Development fund
21.00%
Tokenomics:

Token utility

Thanks to NEM’s interoperability with both public and private blockchains it has a broad range of use cases. For example, users can transfer many different types of digital assets via the network, including tokens, files, contracts, and more, to any type of network. For example, money can be moved from Paypal to another private network directly using NEM.

Other potential use cases include:

  • Creating systems for retail stores to track customer loyalty reward points;
  • Managing end-to-end supply chain logistics systems;
  • Conducting ICOs.
  • Links

    Buy NEM for $1Buy XEM now

    What is the development prospect and future value of XEM?

    The market value of XEM currently stands at $240.90M, and its market ranking is #273. The value of XEM is not widely recognized by the market. When the bull market comes, the market value of XEM may have great growth potential.

    As a new type of currency with innovative technology and unique use cases, XEM has broad market potential and significant room for development. The distinctiveness and appeal of XEM may attract the interest of specific groups, thereby driving up its market value.

    What will the price of XEM be in 2025?
    Based on XEM's historical price performance prediction model, the price of XEM is projected to reach $0.04158 in 2025.
    What will the price of XEM be in 2030?
    In 2030, the XEM price is expected to change by +4.00%. By the end of 2030, the XEM price is projected to reach $0.08231, with a cumulative ROI of +240.90%.
    Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of XEM and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

    Is XEM worth investing or holding? How to buy XEM from a crypto exchange?

    If you want to buy XEM, the following information may be helpful for your investment decisions:
    In the last 7 days, the price of XEM has fallen by -12.89%, leading to negative returns for most XEM investors. The market is currently pessimistic about the price trend of XEM.
    It is important to note that the current price of XEM has retreated by -98.72% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
    Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
    To decide whether XEM is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
    Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in XEM or any cryptocurrency comes with certain risks and uncertainties.
    Regardless of your outlook on the development prospects and future trends of XEM, if you want to buy or sell XEM, you can consider Bitget for your trading needs. The best place to buy XEM is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
    Investing in NEM has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy NEM. Here's a step-by-step guide on how to buy NEM on Bitget.

    How to get NEM through other methods?

    Using cash to buy NEM is not the only way to obtain NEM. If you have the time to spare, you can get NEM for free.
    Learn how to earn NEM for free through the Learn2Earn promotion.
    Earn free NEM by inviting friends to join Bitget's Assist2Earn promotion.
    Receive free NEM airdrops by joining ongoing challenges and promotions.
    All crypto airdrops and rewards can be converted to NEM through Bitget Convert, Bitget Swap, or spot trading.

    What is NEM used for and how to use NEM?

    The use case of NEM may expand as the crypto market and the project itself develop. Currently, you can use XEM to achieve the following goals:
    Arbitrage by trading XEM: Since XEM is a frequently traded cryptocurrency, the price of XEM is always fluctuating. Earn more XEM by buying low and selling high on the exchange. Bitget spot market provides a variety of XEM trading pairs to fully meet your needs.
    Earn by staking XEM: You can also generate income through financial management methods such as staking XEM or lending XEM. Bitget Earn offers a variety of financial products designed to help you earn more income from your XEM.
    Send or pay XEM: If you want to give XEM to your friends, a charity, or a fundraiser, or you want to pay someone with XEM, you can quickly and easily send XEM to the recipient through their payment address.
    You can also go to the official website of the NEM project to learn more about the use cases of XEM. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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    XEM resources

    Tags

    PoI
    Medium of Exchange
    Payments
    Moremore
    Links
    NEM WebsiteNEM WhitepaperNEM TwitterNEM Github

    XEM price calculator

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    XEM
    USD
    1 XEM = 0.02682 USD
    Last updated (UTC-0)
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