In the beginning of my experiences with cypto-currencies, Bitcoin was THE answer to so many of my hopes and dreams about a more decentralized, sovereign world. Where governments can't infinitely fund wars. Where ones money actually belongs to them, and one can send/receive money to anyone anywhere without fear of losing their money because of third parties. I was eager to get my hands on this. After being obsessed and continually amazed with the technology that bitcoin is, I learned it wasn't bitcoin I loved. I love Blockchain technology. But bitcoin was the birth of Blockchain. Bitcoin is the big thing, but so were pagers.
Technology is always evolving, and everyone into crypto-currencies knows that bitcoin does not provide everything people want from cryptos. From Monero's privacy, to dash's better governance, Ethereums smart contracts, there are so many niches to be filled to make a crypto stand out from your regular shitcoin. With such a wildly new and exciting arena that bitcoin has given us, where people have opportunity's again to innovate without permission, there has got to be a new technology at some point that will be the new king of Blockchain money, and perhaps the king of mainstream Blockchain usage aswell. Just like the dotcom boom, it settled down with big monopolies of the best companies. Im sure this will happen with crypto and bitcoin aint gonna cut it. So, why do I think the New Economy Movement (NEM) could most likely be the big player of Blockchain boom?
NEM, it is not a fork of bitcoin. Nem was built from scratch to inherently address all the issues cryptos face today, like scalabilty, ease of use, energy consumption, governance, Incentive to use, and avoiding centralization and consolidation of power by miners etc. and governments who become involved.
The New Economy Movement provides much more than just a currency, (called XEM). You can check out the whole shbang on nem.io
Created in 2014, XEM, is a fixed supply of 9 billion, at the time of this writing XEM has been very steadily climbing into $0.021 and is now 8th in overall market cap. Constantly breaking suspected glass ceilings incredibly organically. XEM is not mined, it is harvested, when an account has 10,000 or more nem, the money will naturally become vested by Nem's algorithm. Then you can begin to passively harvest block fees (delegated harvesting). This takes very little electricity because you can turn off your computer and still be harvesting. The more POI (Proof of Importance) you have by holding stake and normally transacting, the more POI you gain. In turn increasing the amount of blocks you harvest. And the more that XEM is used, the higher the amount harvesters receive! This creates an incentive to invest in Nem as a currency because it will naturally pay for its own fees! In terms of transaction speed, XEM takes about 10 to 30 seconds maximum to process. The scalability of xem has been tested on a Private chain called mijin, and the devs are devolping catapult aswell, you can look into this here: https://www.arara.com/english/entry4943/ it looks promising to one day handle the average amount of transactions a day that visa handles! If you know more about mijin and xems scalability, please share what you know!
Because the NEM ecosystem provides a platform for start-ups, industrys, hospitals, realestate, game developers,artists, and inventors to easily create special blockchains for different purposes easily on java and in other ways, the first projects are already under way in revolutionary new arenas, like gaming: developers can create in game economies of different shapes that allow gamers to make money by, well, gaming. Ill link to some very awesome projects coming into fruition:
www.ecobit.io - the first ico green project, supported by the malaysian government, and united nations to name a few.
XHAI studios: creating games built with nem, first game to implement will be: https://play.google.com/store/apps/details?id=com.xhaistudios.hitlertohell
Landstead: land trust type- blockchain government!
These are sure signs of a bright future for NEM, and this is why I believe NEM is a sleeping giant of crypto-currencies.
I would love to explain more and answer any questions you have about Nem in the comments,
and feel free to join the community and ask questions to the awesome Telegram community at https://t.me/nemred
ps, think I should add something to this post? Wondering what to write more about Nem :D
Send me some xem if you appreciated my work!