NEM (XEM) Cryptocurrency Review! NEM is the seventh-largest cryptocurrency by market cap, but you wouldn’t know it by reading Forbes or Fortune. It is relatively unknown outside of crypto circles.

There’s also confusion around the currency’s name. It is called NEM, but it trades under the symbol “XEM.”

This is a cryptocurrency as well as a revolutionary platform that is targeting further blockchain usage in crypto markets. Unlike many coins or altcoins, this has its very own source code. Introducing a lot of features and valuable technical support to the blockchain community is simply taking cryptocurrency usage and values to a new height.

NEM isn’t another Bitcoin clone; its codebase was written from the ground up to improve on some of Bitcoin’s flaws and greatly expand its functionality for enterprise compatibility. NEM’s core value proposition is what it calls its smart assets system. It’s a blockchain ledger system that can be configured to manage almost anything, including ownership records, financial instruments, supply chain tracking, and much more.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

The process of verifying transactions within the NEM platform is called harvesting, which is equivalent to mining on the Bitcoin network. It involves using your computer to process algorithms and add blocks to the NEM blockchain. Unlike in Bitcoin mining, no special computer hardware is required to harvest NEM, but you do need to maintain 10,000 $XEM in your account over a couple of weeks in order to be eligible for a harvesting account.

Harvesting does not create new XEM, it just allows you to earn transaction fees contained within blocks. It takes about 60 seconds to complete this task, so a new block is added to the blockchain roughly every minute.

Transferring and using $XEM is designed to be both easy and cheap. At just 0.1%, NEM’s transaction fees are among those in this space. For instance, it costs just $0.01 to send $100 worth of $XEM.

NEM (XEM) Cryptocurrency Review

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