New Economy Movement, or NEM, is a peer-to-peer virtual currency. Released in early 2015, its source code is written in Java and 100% original. Its blockchain uses a new synchronization solution based on proof-of-importance POI.

NEM defines itself as an intelligent asset system and is committed to building a platform to provide blockchain technology solutions for enterprises.

The New Economy Movement, or NEM for short, was founded on January 19, 2014. The founder is a cryptic Bitcointalk.org forum called Utopianfuture. Utopianfuture's original intention was simply to build a copy of the SECOND generation digital currency NXT. He then realized that NXT's distribution model was unreasonable and joined NEM, which had an egalitarian distribution model. "NEM is the first virtual currency that no rich person or early participant can capture a significant share of by mining with a powerful mining machine or simply buying. It symbolizes full equality and fairness to me." Utopianfuture managed to assemble a brilliant development team to complete this project. Soon, the team realized that it wasn't enough to be content with creating replicas, that there were more problems with the DESIGN of the NXT than uneven initial release, and that this was an opportunity to create a better future hot digital currency. The team's development goal has since shifted from simply creating replicas to creating an entirely new digital currency. As a result, NEM has become a movement for global financial change, a movement to create a new global economic environment for everyone, not just the digital currency community.

NEM has been completely rewritten based on java8. As a new block chain technology, THE emergence of NEM solves problems common to other cryptocurrencies (e.g., waste of resources in mining and concentration of electricity). In addition, Java, as a widely supported software development platform, will not lack programmer support as a long-term solution. NEM has a revolutionary harvesting solution based on proof of materiality, POI Proof of materiality (as opposed to POW, proof of work), which solves the massive waste of resources and competition among mining equipment in the Bitcoin ecosystem. In NEM networks, rewards are determined and delivered to users in a subtle and balanced way. POI is the addition of additional features to POS proof of ownership that eliminate the cycle of making the rich richer that all other POS systems have. Eigentrust++ algorithm is adopted to determine the credit rating of each node to ensure P2P network security. If a node behaves abnormally, the whole network will discover and expel it from the network. At a time when most other cryptocurrencies still use a rule-based blacklist, the Eigentrust++ algorithm offers an adaptive, self-learning approach.

Token name: XEM Total issue: 9 billion

XEM is a native token of the NEM network, allowing instant payments and transfers anywhere in the world. XEM can also be used to pay transfer fees, create tokens, encrypt messages, and other features.

NEM projects produce coins through the original Proof of Importance (POI) consensus mechanism. Proof of Importance (POI) assigns importance points to each node to motivate users to actively participate in the new coin network activities. The more users invest, the more frequently the nodes produce XEM, facilitating the development of a decentralized network of nodes in their ecosystem.

1. High performance: NEM is designed and coded for scale and speed from the very beginning, with public and private chains. 2. Easy to develop: NEM opens up its functionality through a powerful API interface and can be used in any programming language. 3. High customization: NEM customizes various solutions through its powerful modular system.

1. NEM is a blockchain written in Java that supports multiple ledgers on its cryptocurrency layer. NEM's ecosystem seamlessly connects and transfers any type of digital asset between private and public blockchains. 2. NEM abandoned the POS consensus and introduced POI. NEM is the world's first practitioner of the POI (Proof of Importance) consensus. While it is similar to proof-of-stake, requiring a certain number of coins to be locked in the ecosystem, there are several major differences. The key difference between POS and POI consensus is that in POS consensus, the number of locked coins does matter, whereas an order allocated 10% of the locked amount will only mine 10% of the block in the network. POI consensus is used to determine which network participants are eligible to add blocks to the blockchain, which in the NEM ecosystem is referred to as "harvesting."

1. NEM has good scalability NEM is incredibly scalable, with transaction speeds currently comparable to bitcoin, but when planned updates take effect, the network can process hundreds or even thousands of transactions per second. In comparison, Bitcoin can only process 4-5 transactions per second. This has been a huge problem for Bitcoin and was a factor that led to it being forked into three different currencies. 2. NEM uses a unique revenue approach NEM is the opposite of the mining method used by other tokens, which rewards tokens with unique certificates of importance (POI) and certificates of delegation. When it receives block revenue, it confirms the transactions in the block, permanently adds them to the blockchain, and then rewards the miners with transaction fees from that block. 3. NEM is 100% traceable Traceability will allow for security features such as buyer and seller protection, which is one reason why NEM is a very secure digital currency. So far, there have been no major safety issues. NEM also allows businesses to track their spending habits, a useful feature that may entice more businesses to use it in the future. 4. NEM consumes low resources NEM uses 100 times less energy than Bitcoin to run its nodes. That is why NEM's transaction costs are a fraction of those of some of its rivals. 5. NEM is not affected by inflation Another advantage of NEM is that all tokens (8,999,999,999 to be exact) have already been created. That means zero inflation, and for most other digital currencies, such as Bitcoin or Litecoin, the mining process is still constantly putting new tokens into circulation, which leads to some inflation.

One differentiating factor is the traceability of NEM, which, unlike rivals such as Monero, has no "private transactions".

The NEM platform is the innovator and pioneer of the blockchain ecosystem. It's expected to be a major player in the upcoming "Catapult" update, providing an enterprise-class solution for any case developers come up with, which is pretty impressive. The ease of development on the NEM platform is certainly a major attraction, and the flexibility and unique importance of consensus justifies the strong appeal of the mechanism to developers. While there is no way to guarantee that the adoption of any blockchain technology will be highly secure and efficient, NEM appears to have the right strategies and measures in place to ensure future growth and adoption.

NEM projects can write smart contracts down the chain without many of the problems of Ethereum smart contracts. NEM developed a perfect REST API interface, easy to use, support all mainstream RESEARCH and development languages, the core transaction module encapsulation perfect to ensure security X and atomicity of the transaction. It uses a namespace system and Mosaic system to ensure that NEM has perfect financial transaction adaptability, and is also very suitable for various functions such as notarization, traceability, voting, registration and so on.