What Is NEM (XEM)?
NEM is a relatively new mining service that has gained the most popularity in Japan and the Asian region. On the basis of the NEM blockchain technology, the XEM cryptocurrency was developed and put into circulation, which has a number of features and advantages over other tokens. In the summer of 2016, XEM demonstrated a record growth on the stock exchange, its exchange rate against the dollar increased by 37 times. In the following year, the exchange rate has adjusted, and many crypto experts predict a new wave of NEM growth in the near future.
NEM is a cryptocurrency and crypto platform launched in March 2015 in Malaysia. Initially, it was assumed that this would be a fork of the NXT cryptocurrency. However, after carefully considering this, the team decided to create their own source code. This means that the NEM blockchain is completely unique.
What is XEM? This is NEM's own internal coin.
NEM is short for New Economy Movement. It is built on the Java programming language and is currently also being adapted for C++. This will be added in an update in 2018 known as "Catapult".
Like many cryptocurrency projects, NEM cryptocurrency is a project with quite promising goals, as XEM news has repeatedly said. This is not just a means of payment, in fact, using its properties as a currency is not a priority for the NEM team.
In addition to making a difference to global finance, the NEM team believes it could revolutionize many areas and areas, such as medical and legal records, gaming, royalties, smart contracts, accounting, ICO launches, and more.
One of the key features of NEM is that it is called the Smart Asset System. This is the basis of what makes NEM unique. It was designed to configure blockchain systems, allowing for dozens of variations of powerful yet simple API calls.
Like most decentralized blockchain networks, the NEM network is protected by a global node system that is used by the API Gateway platform.
This makes the NEM network very easy to use for developers, who can now create powerful dApps without special software, since all the features provided by NEM are easily accessible when working with the Gateway API.
Thus, the development of the NEM platform allowed for greater flexibility in terms of system design and the use of the applications being created. In addition to direct access to the NEM API, applications can also access other servers when working with the NEM platform, and developers can use existing servers and use them in the background.
Now NEM is developing. Obviously, the best solutions will not appear soon. But we must pay tribute to the developers, because it is very hard to develop and improve their product, introducing new technologies into it. And many experts insist that NEM is a technically advanced system.
Following NEM news, NEM price today is $ 0.33. However, some experts predict that by the end of the year, the growth of XEM price will reach the level of $ 0.5 to $ 1.65. Therefore, NEM can be an extremely profitable investment.
The most important question especially for novice investors: is it possible to buy XEM coins for dollars? However, this possibility does not exist. Experienced investors and traders know that few cryptocurrencies can be bought on the exchange directly for dollars or other fiat equivalents. So the best way is to buy BTC first.
Next, you can exchange BTC for XEM on any exchange where this trading pair is available. You can also exchange other cryptocurrencies for the NEM coin.
The coin can be obtained through an exchange on the following exchanges: ImExchanger, OpenChange, ExBox. On Godex.io NEM coin exchange is also available. Here you can get or sell the required number of tokens quickly, anonymously and with one of the lowest transaction fees.
Circulation of NEM
Today NEM price is $0.329739 USD. CoinMarketCap's current ranking is 48th with a market capitalization of $ 2,967,647,570. Today, there are 8,999,999,999 XEM in circulation. This is the final number of coins that will be added to the circulation. There will be no more coins. Therefore, at the moment, the NEM price does not depend on the number of coins in circulation.
Can You Mine XEM?
At the time of the release of the NEM project to the market, the developers added the entire total number of coins to the network, that is, no additional coins can be mined. Therefore, XEM mining is not possible – it is simply not provided.
Fortunately, mining is not the only way to get coins. You can freely mine other crypto tokens that provide this opportunity, and then exchange them for XEM.