NEM is currently trading at $0.0332, after a price change of 3.99% in the last 24 hours.
Ranked as cryptocurrency #94 by capitalization today, XEM market cap is valued at $298,709,307. XEM trading volume reached $9,535,760 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on XEM coin price prediction page.
What is NEM?
NEM is a network of protocols that leverage blockchain technology and cryptocurrency for enhanced solutions in institutional and individual client segments. NEM is focused on addressing the needs of enterprise clients in diverse sectors.
The ecosystem is secured via a proof-of-importance consensus model, which essentially borrows from the proof-of-work and proof-of-stake. PoI enables any user to operate a node on the ecosystem and facilitates transactions through a delegated harvesting process. The blockchain is written in Java and JavaScript and claims to operate a completely original code. Supernodes manage NEM blockchain where its native token is harvested (not mined) via a proof-of-work process.
XEM is the native token powering the NEM protocol. There are 9 billion circulating tokens from a total supply of 8,999,999,999 and a matching hard cap. The whole supply was mined at the project’s inception. In tokenomics, 53% of the tokens are set aside for stakeholders, 21% for the development fund, and the remainder is allocated to the sustainability fund. NEM rewards supernodes from a portion of its sustainability fund.
A pseudonymous team comprising Jaguar0625, gimre, and BloodyRookie introduced NEM between 2014 and 2015.