What is NEM (VIEW)? Things to know about the latest NEM coin (VIEW) 2020

NEM (VIEW), the blockchain platform was derived from the original idea of ​​a hard fork for the NXT blockchain, but it was reoriented and created a separate platform with its own coin.

So…

  • What is NEM? What is NEM coin (XEM)?
  • Should I invest NEM coin (VIEW) are not?
  • Buy and sell NEM coin where?
  • NEM coin wallet should use.

If you are looking to find out NEM platform and potential invest NEM coin (VIEW) This article is just for you.

What are you waiting for, let’s start the article!

Maybe you are interested: What is Bitcoin? Bitcoin investment guide for beginners?

What is NEM?

NEM abbreviation for the phrase New Economy Movement is a blockchain P2P platform launched on March 31, 2015 written in the Java programming language.

Initial, NEM blockchain The idea was created by a user on the Bitcoin Talk forum with the nickname UtopianFuture, inspired by the NXT blockchain. Initial plan for NEM was to create a hard fork of NXT, but the idea was eventually rejected in favor of an entirely new codebase.

Starting January 19, 2014, an open discussion was started on the Bitcointalk forum. The goal of the discussion was to create a new community-oriented cryptocurrency.

‘s ambition NEM is to eliminate mining (mining) when expensive hardware is needed to confirm transactions. NEM make transactions simpler and more efficient thereby reducing energy consumption as well as the time required to complete a transaction.

You may be interested: What is Bitcoin Mining? Detailed Beginner’s Guide from AZ

What are the advantages of NEM?

Unlike Bitcoin and some similar cryptocurrencies, NEM coin (VIEW) cannot be exploited. Instead, it is obtained through a process called “Harvesting”.

This is a system designed by NEM, where each time a transaction is made on the platform, the system that first sees and verifies it notifies the surrounding users, generating a block. When someone owns more 10,000 “vested” NEM will generate a block, which comes with a transaction fee.

nem-blockchain

To do the above, NEM use consensus mechanism Proof of Importance. This mechanism is completely different from Proof of Work nice Staking like Proof of Stake. The basic principle of this mechanism is to provide block rewards and more benefits to those who are still active on the network. Therefore, users who own little NEM coin (VIEW) can still get more rewards than the one who owns more NEM coin but do not contribute to the network.

Final, NEM has an API interface compatible with popular programming languages ​​like Java and C++.

NEM blockchain application

NEM-Exchange-Use-Case-2

NEM is a platform that aims to provide an easily customizable blockchain solution for different use cases. These customizations are built on simple yet powerful APIs that increase flexibility. Some areas can be applied NEM may be mentioned as:

  • Used in financial sector including: payment, stock market, creating own token…
  • In business management: it can be used for automated accounting, kyc, rewards, shipping, inspection and supply chain management.
  • It also has use cases in recordkeeping securely: like encrypted messages, anti-counterfeiting, authentication, etc.
  • In addition to all this, you can create a decentralized organization through NEM with high security, voting and can be used to raise capital, and open ICO.

What is NEM coin (VIEW)?

NEM coin known as dong VIEW, is the base currency of NEM blockchain. It plays an important role in maintaining economic stability in the platform NEM and network security.

Basic information of NEM coin (VIEW):

Token symbol TO WATCH
Blockchain NEM (New Ecomony Movement)
Consensus Mechanism PoI (Proof of Importance)
Transaction speed 2 TPS
Block generation time 60s
Maximum total token supply 8,999,999,999 VIEW
Total tokens in circulation 8,999,999,999 VIEW

What is NEM coin (XEM) used for?

VIEW Coins is the base currency of the platform blockchain NEM So its main role is to pay fees for transactions in the network.

Besides, dong VIEW It is also used as a block reward to pay participants in the new block generation process.

Should I invest NEM coin?

Attention: no investment is 100% safe and every decision carries risk. In any case, it’s up to you to decide. However, below is some useful information that can impact the return on your investment of NEM coin (XEM).

NEM blockchain development team

nem-team

NEM blockchain known as a project with a relatively good development team in both quantity and quality. With 20 regular developers and 30 promising marketers can take on a huge amount of work.

Not only that, the people in the team all have long-term experience in fields such as: business, cryptographic engineering, operator. This promises solid steps in the future of NEM.

NEM’s competitors and roadmap

NEM blockchain can be applied in many fields and fields such as dApps, a platform for businesses, etc., which makes it confront many “hard” competitors. Names such as: Ethereum, EOS, NEO, these are all big names and have a strong foothold in the crypto space. It seems NEM will have to compete very hard.

Maybe you are interested: What is Ethereum? Ethereum Basics for Beginners

Having many competitors can make NEM somewhat restrained so the development team must have a suitable development roadmap to avoid being left out. To refer to the specific route, readers can access it via this link: https://docs.nem.io/ja/roadmap

NEM coin price (VIEW)

coin
NEM coin price (VIEW)

Present price VIEW coin is trading at $0.0373 with low volatility over the past 24 hours. At one point, price VIEW has increased to the level of 2.09 USD and this is also the level price VIEW highest ever. This price was established on January 4, 2018.

Meanwhile, the lowest price ever NEM coin set on 15/9/2015 is 0.000079 USD.

Where to buy and sell NEM coin (VIEW)

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy VIEW, sell VIEW has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell NEM coin (XEM) in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy VIEW For prestige, I think the best currently is the Bitmoon exchange.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

Prestigious international NEM coin (XEM) trading platform

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the name of the exchange and a comparison table of transaction fees for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Exchanges Transaction fee
Houbi 0.070-0.20%
Okex 0.060 – 0.150%
Binance 0.015-0.100%
Kucoin 0.080 – 0.100%

Although the international exchange has the advantage of trading volume as well as high liquidity, the disadvantage is that you cannot trade in VND. Almost every transaction buy and sell NEM coin All of you use USDT for transactions.

NEM coin wallet should use

NEM now developed wallet NEM coin My own name is NEM Wallet on both computers (Windows, MacOS, Linux) and phones (Android, iOS).

Or if you often trade, you can refer to the store NEM coin at reputable exchanges. Some reputable exchanges that you can refer to are: Binance exchange, Bitmoon exchange, …

Conclude

This article has summarized the most basic information you need to know about NEM and NEM coin (VIEW). With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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