NEM (New Economy Movement) can be translated as “promotion of a new economy.” In the new cryptocurrency platform, the developers laid down the principle of equal opportunities for its participants. The letter designation of the internal digital currency of the network is XEM. We will now try to find out what it is and what its prospects are in 2018.

XEM is a promising cryptocurrency that interests investors

The system is decentralized, not controlled by anyone from the outside, it is built by all users together. According to the authors, their project has almost unlimited possibilities. However, all startup developers make such bold statements. It is best to evaluate the potential of new digital assets by their actual technical indicators and performance results.

XEM cryptocurrency and its features

NEM (XEM) is a relatively new one, created at the beginning of 2015 and showing stable growth. Its advantage over similar projects is the presence of a unique open source code and several useful innovations at once. One of them is the PoI (Proof Of Importance) algorithm.

Unlike the PoS algorithm, which takes into account only the miner’s share, in this algorithm, the determination of a participant for calculating a new block is carried out taking into account his total contribution to the promotion of the NEM network using the mathematical functions of system clustering and rating.

This is the most fair way of distributing opportunities, in which, along with the amount of currency in the account, the participant’s activity, i.e., his transactions, is taken into account. PoI is somewhat similar to the proof of stake protocol, but with more values.

PoI makes it possible to solve two important problems:

• accumulation of coins without conducting transactions. The network is structured in such a way that it is more expedient for participants to trade rather than collect real estate assets;
• the ability to assign the status of a collector to generate blocks taking into account the activity and importance of the user’s account without delaying the fork.

The NEM platform is written in Java. Other know-how includes: a unique encrypted information exchange system, the use of Eigentrust ++ multi-signature.

NEM is a Proof Of Importance based cryptocurrency

On the NEM network, validators are called harvesters, and the reward is called harvesting. Anyone who installs on their computer can try themselves as a harvester. There is one more mandatory condition - having at least 10 thousand XEM on your account. Block generation time is about a minute.

NEM e-wallets come in multiple formats and are very easy to use. The software can be installed in just a few minutes. XEM coins are used for any payment transactions that occur instantly. The network security system is reliably protected from hacker attacks and other circumstances; In the two years of its existence there have not yet been any cases of hacking.

There are 9 billion XEM in circulation today and the emission has already been completed. According to the developers, the amount of this currency should be limited to exactly this amount.

What results does the XEM cryptocurrency show?

Many traders are waiting for the XEM cryptocurrency to go “to the moon”

In the market capitalization ranking, the XEM cryptocurrency is consistently in the top ten, occupying 7-8 lines. This indicator is very important, since it determines the popularity of a particular crypto asset. The economic component is also calculated by capitalization, and not by quotes, as many people think.

In the summer of 2016, there was an intensive growth in the XEM exchange rate, which was somewhat knocked down at the beginning of 2017. It was this moment that was the most advantageous for investment, since within three months there was a rapid breakthrough and a tenfold strengthening of the coin, or an increase of 1,147%.

A comprehensive analysis carried out by experts showed good prospects for this currency, especially taking into account the innovations and tools constantly introduced by developers for the convenience of participants.

Where to buy XEM cryptocurrency

So far, the new coin is traded on only a few exchanges. Those wishing to purchase it are encouraged to use special resources to find a favorable exchange rate. Meanwhile, the lack of widespread use can be regarded as a plus rather than a minus: a new promising exchange product implies the possibility of good earnings for those who invest in it before others.

In this case, it is worth considering several rules that are relevant for traders:

• Before entering the market, analyze growth trends and trading volumes of this digital asset;
• the jumps are more significant than on the stock exchanges. This contains both great risks and great attractiveness for traders;
• take into account the latest news from countries that influence the crypto-economy, primarily the USA, Japan and China.

Payment of rewards in NEM

The NEM cryptocurrency has an unusual corporate logo

The NEM network and its cryptocurrency operate thanks to participants who allocate the power of their computers for this purpose. Compared to other similar platforms, NEM is less demanding in terms of capacity, consumes less energy, and is the most environmentally friendly. The generation of each new block brings a certain reward to the participant.

An important feature of the network is the calculation of commissions for completed payment transactions. There are no set prices; in each individual case, the fee varies depending on the size of the assets of the parties to the transaction and their activity, as well as the level of security of the transaction. As the balance increases, commissions also increase, which motivates users to more actively use XEM in mutual payments.

Alexey Russkikh

The NEM cryptocurrency (ticket XEM) deserves the closer attention that its more mature competitors are receiving. Since its launch in 2015, the token quickly made its way into the TOP 10 by market capitalization, and even stormed the TOP 5, but could not stay in the top five. The progress made today will most likely continue in 2018. Let's look at the cryptocurrency forecast for next year.

Brief description of NEM

Each product on the cryptocurrency market tries to present itself as unique, capable of revolutionizing this area. This is almost always done to create a public image, using sophisticated marketing techniques aimed at participants in an overheated market. However, NEM actually innovates and does some things better than its competitors.

Here are some distinctive features of NEM that directly affect the interest of society and commercial organizations, thereby increasing the demand for the token:

1. Currently an e-wallet supported by the NEM platform, Nano Wallet is a full-fledged product developed using HTML and JavaScript, which allows it to be used on any platform with a web browser. In addition, mobile versions are available for iOS and Android.
2. NEM software is used not only in the field of cryptocurrencies. It is used by the commercial blockchain Mijin, which is used by financial institutions in Japan and around the world.
3. Another advantage that makes NEM effective for investors is its strong protection against external attacks. If the wallet is connected to the NEM infrastructure server (NIS) through a firewall, it cannot be hacked. Moreover, when attacking NIS, the attacker cannot obtain a direct path to the NEM wallet, which is an additional layer of protection.

NEM is gaining momentum

The NEM platform has attracted and continues to attract a large number of investors due to its cost-effectiveness compared to Bitcoin. The NEM network is many times faster than the Bitcoin network. The generation time for one NEM block is only 1 minute, in contrast to 10 minutes for Bitcoin.

In addition, NEM has great scalability capabilities. And in order to achieve a large audience, the cryptocurrency was designed to offer a software interface to third-party developers. Its supporters say that this provides a serious advantage not only over Bitcoin, but also over Ether.

The platform also has anti-spam protection. Those wishing to transfer XEM tokens from one account to another will soon notice the growing cost of the transaction.

Over the past period, NEM adoption has progressed at a rapid pace, particularly in Asia, with Japan and Malaysia leading the way. Now this process is spreading throughout the world, making this cryptocurrency very attractive from an investment point of view.

In January 2017, the price of the NEM token fluctuated between 20 and 30 kopecks. The psychological mark of $1 was recently broken. Total, an incredible 24,000% for the year and ninth place in capitalization ($9.4 billion). The gap from its closest competitors, Cardano and IOTA, is insignificant. But the pursuers, including Monero and Bitcoin gold, are still far behind.

NEM in 2017

From the above it is clear that despite its relative youth, XEM is a very profitable cryptocurrency. The price of the token soared in the first quarter of the year to a then-record value of $0.29, then there was a turbulent period of strong volatility, and a correction to $0.09. Then another rise followed, this time to the level of $0.34 with a correction to $0.15-0.2. The current wave has raised the rate to above $1.

Of course, we should expect a pullback from this value, but given the strength of the momentum, we can predict a continuation of the upward trend in 2018. Some experts say that by the end of 2018, NEM could reach $5-7.

Your own exchange

The project's founders are also working on creating their own exchange to provide the ever-growing number of NEM investors and users with a secure way to buy and sell tokens. This will increase the level of reliability of the cryptocurrency, making it virtually inaccessible to hackers, who often launch attacks on centralized exchanges. It will be more convenient for NEM investors to use a special exchange designed for buying and selling XEM tokens.

Conclusion

The NEM price forecast for 2018 should take into account a number of factors, such as the incredible percentage of profits that investors who believed in this cryptocurrency received six months or a year ago, as well as a 10-fold gain in the efficiency of the platform compared to Bitcoin. Additionally, the ease of use of the platform for non-crypto developers and the NEM team's security-first policy should be taken into account. However, one should not ignore the likelihood of negative consequences from legal regulation by governments, potential liquidity risks and competition from other players.

The constantly growing investment attractiveness of various cryptocurrencies is no secret to anyone. In most cases, the increase in their value is speculative, but this does not prevent skillful “investors” from making money on the difference in exchange rate. The forecast of what to expect from NEM in 2019, whether its value will rise or fall, whether it is worth counting on it in hopes of making money, and what assumptions there are about the development of events with this type of cryptocurrency are interesting not only for experienced, but also for novice investors. Also, even banks are already seriously studying forecasts for cryptocurrencies, identifying the most promising tokens.

Favorable scenarios for the development of events

The Economic Forecasting Agency gives a favorable forecast for the NEM exchange rate in 2019. The price of the coin is expected to increase, with a pronounced increase in popularity. Price jumps, like those of Bitcoin, are not expected - growth will be relatively uniform. At the same time, APE suggests that at the end of 2018 the crypt will lose value. Therefore, the cost of NEM in January 2019 will be only $0.37. The price will rise for the first 5 months, but in June the price is expected to fall by 7.7%, and in August there will be a zero increase in the exchange rate. Otherwise, 2019 is favorable for this crypto; by December the coin’s value will reach $1.05. The maximum rate jumps in percentage terms will be in April, July and November. The April-July price increase is the same - 16.7%. In November, the cost will increase by only 16.5%.

Another news portal about cryptocurrencies with forecasts of their rates suggests that HEM will begin to rise in price, and this can happen quite rapidly. The updated crypto blockchain will become more scalable, which will once again force users to show interest, and this will lead to a surge in overall popularity for those who have not yet invested in IT. The result could be an incredible increase in value in a short period, so the forecast is very rosy - in 2019, the price of 1 HEM coin will fluctuate around $5-10.

A number of analysts suggest that the synchronization of WeChat and HEM will allow the token to confidently stay afloat for a very long time. At the same time, the structure of the project itself is aimed at maximum safety and attractiveness for business. The prospects of the platform have already been recognized by Japanese banks, which only increases investor interest in this crypt. Their interest leads to investments, which increases demand, and at the same time has a positive effect on the price. The beginning of intensive growth of the rate will lead to a surge in popularity and subsequent buying of the cryptocurrency, and this will again “throw up” the price of IT upward. However, there are also unfavorable assumptions.

Pessimistic forecast for the NEM exchange rate in 2019

Experienced investors remind newcomers that it is important not to forget about the versatility of investments. This is especially true for various speculative currencies, which for the most part include all cryptocurrencies. In this galaxy, HIM also stands out. The planned blockchain update promises not only a high level of speed and scalability. Along with these benefits, an additional threat may appear in the form of bugs, various failures and hacker attacks. It is the latter that HEM holders should think about in 2019 - some analysts suggest problems with the security of the system with the subsequent loss of tokens. Following this, there will be a loss of interest and a sharp drop in price to 10 cents or even lower.

It is important not to forget about the “soapiness” of NEM and other cryptocurrencies. The price “bubble” can inflate to a certain size, after which the logical completion of the process occurs. This is precisely the point that many pessimistic investors and business analysts pay attention to. In their opinion, an unfavorable prognosis is likely for HEM in 2019 after a sharp jump in value several times. The final collapse of the cryptocurrency will not happen, but after a rapid increase in the rate, a sharp drop in the price of the coin will invariably follow.

There is also an even, only partly pessimistic forecast. There is a version that the cost of HEM will remain approximately the same or decrease slightly. Now the token is in its formation, and changes in the blockchain may alert holders, which will lead to a slight outflow of investors and the absence of sharp positive jumps in the rate.

Video about NEM cryptocurrency

Today we will try to give a forecast for the NEM(XEM) cryptocurrency for 2018. However, first, let’s try to give a generalized description of this crypto-asset. We would like to note right away that the main advantage of NEM is the fast and cheap transactions of its coins. This gives cryptocurrency a significant advantage over other assets. In the context of a constant rise in the cost of transactions, this indicator comes in handy in favor of a positive attitude among investors.

Mining cryptocurrency NEM(XEM)

In order to mine XEM coins, you must already have them in your wallet. Thus, it turns out that if you do not have coins and you have nowhere to get them from just like that, then the only way to start mining them is to make an initial purchase on exchanges. It is also worth noting that mining is only possible if you have a certain node (a certain absolute number of coins). There is also the concept of a supernode, which gives much higher returns in case of mining.

In order for a node to become a supernode, it needs to pass a fairly large number of tests and checks. Thus, mining the XEM cryptocurrency can generally be done initially by a seriously minded miner-investor with a certain starting package of funds for this. And this fact excludes the presence of all kinds of crooks and small unstable miners who mine one cryptocurrency today, another tomorrow, and a third the day after tomorrow.

Control

There are two ways to talk about decentralization in NEM. On the one hand, the company is managed not by one person or a small group of people, but by everyone who has a certain number of nodes. Moreover, the more nodes he has and the larger nodes they are (a supernode, for example), the greater influence he can have on the company’s policies.

On the other hand, there is some similarity to share management. That is, one person (theoretically) can ultimately buy up all the nodes (the entire XEM cryptocurrency) or buy a control amount of them and thus manage it individually. Then it turns out that there can be no talk of any decentralization.

Our team is more inclined to believe that the current decentralization of management of the NEM company will be centralized over time. Another question is how soon this can happen. In 2018, it is unlikely, therefore, the centralization aspect is unlikely to significantly affect the exchange rate of this cryptocurrency in 2018.

Exchanges and NEM

Another aspect of NEM that tells us about the positive attitude of investors towards the XEM cryptocurrency is its wide representation on various exchanges. In today's difficult conditions of standardization and registration on exchanges, this is a very good indicator. Currently NEM is traded on such exchanges as Poloniex, Bittrex, Bter, Hitbtc, etc.

Moreover, the more good exchanges with a high level of reputation that provide the opportunity to buy a given cryptocurrency, the more confidence the project itself inspires among investors. Regarding the XEM coin, we can say that the level of trust in it among famous exchanges is very high.

The digital money market is literally bursting at the seams with an overabundance of new cryptocurrencies and crypto-projects. The time has come when users should take a closer look at coins for investment. Since not everyone can grow in price. The topic of this article is the NEM cryptocurrency, which is among the TOP 10 cryptocurrencies by capitalization. Should it be included in your cryptocurrency portfolio, and what are the prospects for NEM 2018?

Features of the NEM cryptocurrency

The creators of the NEM cryptocurrency made every effort to ensure that its system became qualitatively better than its closest competitors. And judging by the growing popularity of this cryptocurrency, they succeeded. Let's look at the features and advantages of this cryptocurrency.

So, NEM got its name as an abbreviation for New Economic Movement, the technology for operating the NEM network is called Mosaics, and the main operating algorithms are POI and Eigentrast++. It is these algorithms that make this cryptocurrency unique and elevate it above many other coins that work using POS and POW algorithms.
In order for you to understand the differences, let’s look at everything in more detail.

The POS algorithm is a Proof-of-Stake system (translated as proof of stake), in which the security of the network depends on the amount of cryptocurrency in user accounts.

The POW algorithm is a Proof-of-work system (translated as proof of work), in which the security of the network depends on the computing power of the participants.

Most cryptocurrency systems operate on the basis of such algorithms. In which your importance depends on how many coins you have in your account or what computing power you use.

The creators of NEM decided to move away from this practice and created their own algorithm - POI (Proof-of-Importance), which gives preference to those who make a more real contribution to the economy depending on the activity of work.
In parallel, NEM uses the Eigentrast++ algorithm, which is responsible for checking the reputation of nodes, routing transactions only through nodes with a high degree of reputation, avoiding nodes with a low degree of reputation. The reputation criterion is directly proportional to the number of successful transactions.

Thus, using the NEM system client, the user becomes a node (node). This client performs transaction verification and network security functions. At the same time, the POI algorithm distributes the reward between nodes according to the criterion of assessing their activity in the network, regardless of what hardware they use and how much money is in their wallets, and the Eigentrast++ algorithm forces the system to work only with those nodes whose reputation has been verified.
Also, the advantages of the NEM system include a significantly smaller volume of coins that can be mined in the future - up to 9 million, as well as a lower resource intensity that is necessary for mining.
The NEM project team is seriously aimed at conquering the real financial sector and is currently negotiating with a number of banks regarding the use of the NEM system in the operation of the banking system. In the future, this factor will become one of the main growth drivers. but more on that below.
Also, the NEM platform is actively used to launch new “colored” coins (ICO) and raise funds for their development.

NEM 2018 Outlook

According to experts, the NEM system has unique advantages, which has very real proof in the form of the rate of capitalization of its market.
At this point in time, NEM ranks 7th in terms of capitalization among all other known cryptocurrencies:

The total market value of NEM is $2,020,518,000, and the current price of NEM has reached $0.224502 ​​per coin. As you can see in the screenshot below, the NEM rate is within the growing trend:

Taking into account all the above features, it is possible to analyze the prospects for NEM 2018 and create a NEM forecast for a longer period.

The following factors will play in favor of further growth of the NEM price:

1. The uniqueness of the algorithms of the NEM system (the POI algorithm described above), according to which success is achieved not by those who have the most money, but by the most active users who bring real benefits to the system and the economy as a whole.
2. NEM’s focus on the real financial sector of the economy, which over time is guaranteed to begin using advanced cryptocurrency technologies.
We focus our attention on this point. It is necessary to understand that in the future, states will make even more desperate attempts to curb the digital currency market. After all, if they lose control over the financial system, this will mean the collapse of the state - that’s for sure! Therefore, in the future, new “rules of the game” will likely be determined, according to which the existing model of the financial system will merge with the cryptocurrency market. This means that those cryptocurrencies that are most suitable for this format will receive the greatest development. These include the NEM cryptocurrency.

In the near future, the rise in NEM prices will be restrained by negative processes in the legalization of the digital money market. Let us remind you that China and the United States (the two leading economies on a global scale) are not yet in a hurry to follow the path of legalizing cryptocurrencies. Although, these processes are temporary, since the digital money market will develop one way or another.
And most importantly, based on the current price of NEM, which is in correction after an explosive growth wave, now is the time to purchase these digital coins!! The NEM price you are seeing now is far from the peak. The NEM course is guaranteed to reach new heights of growth!

You can choose the best exchange for trading NEM in our rating of cryptocurrency exchanges.