Crypto Coins: Overview: NEM (XEM) the High Performance Smart Asset Blockchain. Should you invest?
Overview: NEM (XEM) the Smart Asset Blockchain. Should you invest?
NEM is an smart asset platform that's built for performance and very high customisability which allows the users to modify NEM blockchain to fit their needs.
The project is aimed at businesses because it enables them to develop a variety of real world application uses.
They are proving both public and private blockchains. Depending on the application the companies can choose to deploy private NEM blockchain or use the public one.
The cryptocurrency XEM is the asset running on NEM.
NEM is aiming to find usage in several different sectors:
Financial: transfer of value, own tokens, mobile payments, equity markets, escorw services and liquid assets.
Business: accounting, KYC, Lloyalty reward points, shipping and inspections and logistics.
Security: encrypted messaging, authentication and notarization, anti-counterfeiting, certificate issuance, land registry and access control.
Decentralized Organisations: voting, crowdfunding, ICOs and stock ownership.
XEM is the native currency of the NEM public blockchain
It is used to pay for transactions on this public blockchain in order to incentivize its network of public nodes that process and record transactions for businesses and users there.
This means that XEM has real fundamental value if the NEM blockchain can sustain a high number of transactions going through it.
The token will also be used for ICOs (like ETH and NEO).
Verdict:
NEM has been around for a while and is one of the more grown up cryptocurrencies out there. Because of that it's also one of the safer choices out there.
It is not an exciting project however (most of the people don't even know what NEM does) and the market cap is already significant meaning there is less room to grow.
It's certainly a solid option for people looking for more stable investments but I think platforms like Dragonchain or Stratis have more potential in terms of growth.
There are also Ethereum and NEO who are aleady established and much safer options.
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