Tag Archives: nem coin

NEM summary

WHAT IS NEM?

NEM (New Economy Movement) is a smart asset blockchain platform, designed primarily for Enterprise use.

 XEM is the cryptocurrency used for transactions on the NEM blockchain.

STRENGTHS

  • Scaling- Nem was designed from the ground up to be scalable and can handle 3000 transactions per second

  • Fees are scalable depending on size and complexity of transaction
  • Harvesting-  If an investor holds 10000 XEM they can "harvest" a new block and collect fees. This encourages investors to hold XEM.
  • Almost unlimited business use cases for the NEM platform

WEAKNESSES

  • As Nem is geared towards Enterprise adoption  the NEM Foundation doesn't seem as interested in marketing the currency XEM. 

OPPORTUNITIES

NEM has the potential to revolutionize the way global Businesses operate.

Whichever "smart" blockchain platform is first to gain mass adoption in the business world could be the next Apple or Microsoft.

THREATS

NEM faces a lot of strong competition in this category. 

Ethereum has a big head start. Other challengers include Cardano and NEO.

NEM will need to get the marketing right to ensure they stay competitive.

5 YEAR OUTLOOK

NEM looks to have a bright future ahead.

 Where it is in 5 years depends on how well they can sell the real world applications for their smart asset blockchain. 

The business world has to date been slow to realize the potential of blockchain technology. This could soon be about to change.

  • www.Binance.com 
  •   Over 80+ Currency pairs. No verification to trade crypto to crypto.
  • Fees: As low as 0.1% trading fee
  • Supported countries: Worldwide
  • Deposit methods: BTC, ETH, LTC, NEO & BNB
  • www.coinspot.com.au
  •   60+ Altcoins available.  User friendly.
  • Fees: 1-3%
  • Deposit currencies: AUD*, BTC, LTC, DOGE
  • Payment methods: BPAY, POLi, cash, cryptocurrency


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