NEM (XEM)

NEM, or New Economy Movement, is a digital asset project launched in 2015. It is a decentralized blockchain platform that utilizes a consensus mechanism called proof-of-importance (PoI) to secure its network. PoI takes into account a participant's stake, time, and transaction activity when determining their contribution to the network, which is referred to as “harvesting” rather than “mining” or “staking.”

NEM has undergone several changes, including operating as two separate blockchains under the NEM brand name. The original NEM blockchain became known as NEM NIS1, with XEM as its native asset. The second blockchain, Symbol, was tailored towards business use cases and functions and had its native asset, XYM.

In 2021, the Symbol and NEM blockchains were set to merge due to a community vote, with the NIS1 blockchain becoming a sidechain. In addition, the digital asset community Coinapult also acquired NEM at some point.

XEM Price and Market Cap

The XEM price, or NEM price, can be expressed in U.S. dollars (USD) and is determined by supply and demand on exchanges. It is important to note that the XEM price and market cap can fluctuate significantly due to various factors such as market demand, news events, and regulatory changes.

In Summary

NEM is a digital asset project that operates a decentralized blockchain platform using the PoI consensus mechanism. It has undergone several changes over the years, including operating as two separate blockchains and being acquired by Coinapult. The XEM price, or NEM price, is expressed in USD and is determined by supply and demand on exchanges. As a result, the XEM market cap and price can fluctuate significantly due to various factors.