What is NEM [XEM]

#1
NEM is a p2p cryptocurrency platform. NEM technology is made from scratch, it's not a fork of something. Launched in 2017. NEM brought new features to blockchain technology: POI (proof-of-importance) algorithm, multisignature accounts, encrypted messaging, and a reputation system. The NEM blockchain is already used by companies in Japan and internationally.




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Re: NEM [XEM]

#2
kenzie wrote:
December 25th, 2017, 7:37 am
NEM is a p2p cryptocurrency platform. NEM technology is made from scratch, it's not a fork of something. Launched in 2017. NEM brought new features to blockchain technology: POI (proof-of-importance) algorithm, multisignature accounts, encrypted messaging, and a reputation system. The NEM blockchain is already used by companies in Japan and internationally.




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This PoI stuff sounds pretty interesting, but I couldn't find any of the technicalities about it, specifically what makes it more energy efficient / scalable than the popular alternative PoS
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Re: NEM [XEM]

#3
BEEnull wrote:
December 25th, 2017, 10:54 pm
kenzie wrote:
December 25th, 2017, 7:37 am
NEM is a p2p cryptocurrency platform. NEM technology is made from scratch, it's not a fork of something. Launched in 2017. NEM brought new features to blockchain technology: POI (proof-of-importance) algorithm, multisignature accounts, encrypted messaging, and a reputation system. The NEM blockchain is already used by companies in Japan and internationally.




Image
This PoI stuff sounds pretty interesting, but I couldn't find any of the technicalities about it, specifically what makes it more energy efficient / scalable than the popular alternative PoS

Well with POI, it's hard to get 'rich' via harvesting with it as to get a higher 'importance' score you need to spend it. POI rewards economic participation. POS rewards just holding. This is the problem that POI hopes to solve which is to disincentivize hoarding.

AFAIK, PoI encourages investors to spend money and therefore stimulate the economy. PoS, on the other hand, rewards holding funds.
By rewarding economy participation, PoI wants to solve the problem that PoS cannot (at the moment).
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