Large buying in China has triggered 'New Economic Movement's' market cap to exceed £100m. I have cut some information on the cryptocurrency for the website: http://nem.io/faq.html
Is NEM a cryptocurrency?
NEM is not just a crypto currency. Above that, and more importantly, NEM is a peer to peer platform and it provides services like payments, messaging, asset making, and naming system. There shall be a lot more to come as NEM shall be an evolving solution.
Why should I use NEM when there is Bitcoin?
Bitcoin is a crypto currency and so are most crypto coins. Some are application specific while some are purely crypto coins. Apart from NEM being another crypto currency, NEM is a solution platform. There is more to offer as a platform. As a crypto currency, it does not require a lot of computing power and energy to run a node. NEM also advocates low entry barrier with Proof of Importance (POI) instead of the traditional ones that require a lot of stakes or computing power to mine. In NEM we call it harvesting. In addition, it also uses another solution, called Eigentrust ++ to validate and sieve out bad actors in the network. As an evolving solution, NEM is setting the stage for better things to come. At the initial stage NEM has this to offer:
- First block chain based multisig solution.
- An encrypted messaging solution that also allows unencrypted and hex messaging.
- Harvesting: Once harvesting is started, you don't need your wallet to stay open to harvest. It can be closed and the wallet does not need to be online.
- Protected wallet, i.e., wallet does not need to be online. It can hide behind a firewall and only connects itself directly to the NIS via the local network.
- The wallet is protected by a password. The password and private key never leaves the computer on which the wallet is running.
- Mosaics are NEM's asset feature and allows assets to be created to be mutable, immutable, capped, not capped, divisible, not divisible, ability to be bagged with other tokens, and levied. They come with discriptions and are a part of Namespaces.
- NEM's naming service, Namespaces, allows organizations to build a brand or brands that can be known and identified helping to increase their projects' reputation.
- Mobile wallets for Android and iOS as well as a pure javascript light wallet for desktops.
Spam protection designed to prevent attacks on the network by raising the fees of the attackers. - Node Rewards for participants running high powered nodes that serve light and mobile wallets.
What can I do with NEM?
You can send and receive payments and messages quickly, securely and at low cost on a global scale without the need for a bank account. You can make/buy/sell/trade assets and goods worldwide. In future, there shall be more exciting features.
What is XEM?
"XEM" is NEM's currency code. It is similar to USD, EUR, CNY, JPY etc.
Does NEM have a white paper?
Yes, the NEM developers have written an in depth Technical Reference as a guide to understanding how the new technology in NEM works.
Where can I trade?
Trades on Poloniex. I'm currently looking into it a little deeper. If anyone has an opinions on XEM, that would be great.
I was in NEM since inception and honestly I don't understand from there this hype came. NEM is really good tech based on Eigentrust++. NEM has awesome and engaged community. Yes. But I cannot see enough community and transnational activity to explain 100M+ cap. It seems that markets has been manipulated. Sad for NEM.
Hype seems to have built really quickly in the last 2 weeks. I consider myself pretty well read around crypto currency projects, but it went reasonably unnoticed for me until recently. Moving from 350satoshi to 1914satoshi in 2 weeks is a bold move...
You have any opinions as to where we are going from here? I hate to see projects like this get dumped, so many don't recover. However not many projects hit $100m market cap... I'm too late to the party, however will be looking to buy if we see a 50% retracement, I like the project and the adoption rate is going to be helped no end by the price rallying the way it has..
Feels too late to buy now. 13000% in 6mnths is a mighty pump. Hard to see this not getting dumped soon...
Yep, that'll teach me for being to lazy to do the research...
$140m Market Cap now...
Have been noticing NEM just the last few days in my CoinCap app... market cap is really high at number five. Investing in a coin with a supply of 9 Billion is risky. I did visit their website to find out what it's about. Does seem to have potential. Definitely being pumped at the moment. If it drops I might get in as long as the trade volume is safe enough to get out if need be.
I'm completely with you on this.
Almost a 50% pull back in prices from XEM's high's. Market cap now stands at $88m, having hit $140m yesterday. The pull back was inevitable after such a rally...