NEM (New Economy Movement) is a blockchain-based platform for operation of mission-critical transactions for businesses. The platform has its own blockchain and a native token called XEM. NEM appeared on the market in 2015. Currently, it is one of the most successful blockchain projects hailing from Japan.
The NEM blockchain is permission-based. Stakeholders (who should have at least 10,000 XEM) participate in building of blocks ("harvesting"). The hierarchy of validators is based on the original proof-of-importance algorithm. It considers number of staked coins, volume of transactions, and other factors. Validation of transactions brings rewards for the stakeholders.
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