NEM, New Economy Movement was started on April 1st, 2015 by Utopian future and is the first digital asset developed using the test-driven development model. NEM is a peer-to-peer virtual currency. The source code is 100% original. NEM is widely issued and its blockchain adopts a completely new synchronous solution. NEM uses the importance proving PoI consensus mechanism. According to the transaction quantity and active degree and such dimensions to decide who has the right to bookkeeping. Its total amount is 9 billion. And all the new currency will be issued at the beginning of the release. So each new block will not generate new currency rewards. The block rewards will only be transaction fees.
1.Use new importance replacement workload proving
For code, all the NEM was written in JAVA. New importance replacement workload proving was used.
2.Use EigenTrust++ algorithm
For reputation system, EigenTrust++ algorithm was used to monitor the nodes' action within the network, which makes NEM network to operate and maintain more efficiently.
3.Use validated and multiple-layer system structure
For structure, NEM system structure is built on a validated, multiple-layer frame that makes NEM a very unique and highly secure platform compared with all other platforms.
4.Add multiple-signature technology
NEM adds multiple-signature technology to the platform. Multiple-signature is a crucial technology for enhancing wallet security, which can avoid fraud and make sure funds security.
NEM price to USD hit the highest 1.90 USD on Jan 4th, 2018. The price fluctuated relatively large overall.