You have certainly heard about cryptocurrencies. The best known is Bitcoin, but other alternative cryptocurrencies about which the traders are also talking among others are NEM.
NEM is the first private / public blockchain, which is the same system that was used to create Linux, widely accepted as a secure operating system in the business world. NEM was built by experienced developers and was built for scalability and stability from the first day. NEM is also currently the only platform tested by banks and approved for financial use.
NEM price in September 2017
After reaching the threshold of 21.18 INR, there was a decline in the price of the NEM. In addition, it rose and stabilized at 15.27 INR. The evolution of the price of the NEM was in the direction wherein the team was busy setting up and executing their SSL certificate .
NEM price in October 2017
After reaching 15.99 INR on October 1st 2017, NEM fluctuated to market trends and finally reached 11.89 INR on 31st October 2017. As the team was into expediting their API models and had then seemed to have setting up their NEMventory and many more complex integrations of their project which led to the steady rise of NEM in October 2017.
NEM price in November 2017
NEM started from 10.66 INR on 1st November 2017 and fluctuated over the weeks to finally reach at 14.80 INR on 30th November 2017.
It was in November 2017 that NEM team had ventured into healthcare management and On-Chain IoT Ownership and so were looking into testing of use cases and building up their architecture in that domain.
NEM price in December 2017
The NEM team along with TREZOR had launched the firmware or what can be called as a Nanowallet which led to huge market speculation following which NEM started off at 15.57 INR on 1st December 2017 and finally reached 69 INR on 31st December 2017 which was an unexpected consolidated spike.
NEM price in January 2018
NEM was INR 67.80 on 1 January 2018 and it’s price plunged down to INR 48.91 on 31 January 2018.
NEM price in February 2018
NEM initially from INR 48.95 on 1 February 2018, dipped down to INR 26.09 on 28 February 2018.
More About NEM:
NEM is a platform based on a blockchain. Written in Java language, it was launched in March 2015. It offers its users a wide range of options: payment services, messaging, asset creation.
In order to validate the transactions carried out on the network, NEM uses the POI ("proof of importance").
Each NEM user will be assigned an "importance score". As soon as a user has more than 10,000 NEM tokens, a mathematical calculation will calculate this score. It will be based in particular on the volume of past transactions, as well as the users with whom these transactions were made.
If you have never made a single transaction, the POI will only be based on the number of tokens you hold - which is a typical Proof of Stake validation.
Miners who hold high scores are therefore favored, being more likely to be awarded the next block resolution award.
More Features about NEM
NEM makes it possible to create "mosaics" - which are actually assets that you create on the blockchain. These can find their application in many areas: creation of stocks of bonds, currency, coupons. It is also possible to imagine applications that could be used outside the financial sphere: marriage certificate , diploma, title deed, vote.
Finally, it should be noted that the NEM blockchain is already used in a commercial blockchain, called Mijin. It is currently being tested by private companies and financial institutions, particularly in Japan.