The provided content is a small HTML snippet. Here is the translation with the same HTML structure preserved: Today 8 yen... When will the price of Nemcoin rise?! A thorough explanation of its characteristics, harvest, and future prospects!
When you hear Nem Coin (NEM/XEM), you might think of hacking incidents or things like it not being catapulted.
Honestly, there are many voices pinning hopes on Nem Coin, so it’s disappointing when it isn’t catapulted.
So, why is Nem Coin even expected in the first place? Let’s dive into its real situation.
What is Nem Coin (NEM/XEM)? Purpose
Nem Coin is the name of the currency issued on the NEM platform, referred to as NEM (Nem Coin).
NEM stands for New Economy Movement, and its purpose is the creation of a new economic zone through blockchain; it is the name of the project with that goal.
Nem Coin was launched in March 2015, with a maximum supply of 9 billion XEM, but all NEMs have already been issued today.
Below is a video that clearly presents Nem Coin’s purpose (duration: 2 minutes 40 seconds, with Japanese subtitles).
Difference between NEM (Nem) and XEM
Because some people confuse NEM and XEM, here is a simple explanation:
- NEM (Nem) = name of the blockchain
- XEM (Zem) = name of the cryptocurrency
That’s all there is to it.
Thus, technically, it would be more correct to call it Zem Coin rather than Nem Coin, but since the name Nem Coin is widely established, in this article I will refer to it as Nem Coin.
Features of Nem Coin (NEM/XEM)
NEM (Nem Coin) has several features.
I will explain the most important ones here.
Adopts PoI (Proof of Importance)
Nem Coin uses an algorithm called PoI (Proof of Importance).
BitcoinusesPoW (Proof of Work)to reward those who validate transactions.
However, with PoW, those with more capital can generate more profits, so mining difficulty keeps increasing.
In contrast, Nem Coin’s PoI rewards users based on their importance.
So, what determines a user’s importance?
- Amount of Nem Coin held
- Frequency of transactions
This system determines importance.
However, having a high-spec computer does not guarantee rewards; how much you are involved with Nem Coin determines rewards.
Thus, it is said to also promote the Nem Coin community’s activity.
Smart contracts implemented
Nem Coin implements smart contracts similarly to Ethereum (ETH).
However, Nem Coin’s smart contracts differ slightly from Ethereum’s.
Using Ethereum’s smart contracts requires programming expertise, so without knowledge you cannot handle smart contracts.
Nem Coin’s smart contracts can be used without specialized knowledge, making it easier for people to participate in projects.
In short, you don’t need programming expertise, which lowers the barrier to project participation.
What is Nem Coin’s Harvest (Habrast/Harvest)?
Nem Coin has something called Harvest. If you hold more than 10,000 Nem Coins, you can receive Nem Coins for free.
To explain in more detail, Harvest is the process of approving transactions on the blockchain, using the Proof of Importance mechanism.
Harvest is simple: hold 10,000 NEM in a Nano Walletand participate in Harvest from the Nano Wallet, then wait and you will automatically receive Nem Coins.Note that Harvest applies only to Nem Coins in the Nano Wallet, so even if you hold a large amount on an exchange, Harvest cannot be received, so beware.
What happens when Nem Coin is Catapulted (Implemented)?
One of the things people eagerly await for Nem Coin is the implementation of Catapult.
Catapult can be thought of as a major upgrade, introducing new features and improvements.
With Catapult, processing speed can be increased, and multi-level multi-signature (multisig) can require multiple signatures, strengthening security.
Additionally, it includes the implementation of Aggregated Transactions, which allows combining multiple transactions into one for processing between customers paying Nem Coin and the services a company provides to its customers.
This helps eliminate transaction problems and streamline transactions.
In short, once Nem Coin catapults, it will be more high-performance than other cryptocurrencies.
When will Nem Coin be Catapulted? Why hasn’t it catapulted yet?
People are eagerly awaiting Nem Coin’s catapult, and since early 2017.......Continue here ⇩
