NEM/XEM reaching 500 mil USD market cap - could it be the next ETH?
New Economy Movement (NEM) and it's crypto token XEM is (again) is reaching ATH (in USD, not in BTC) with 500M USD sitting firmly as TOP #7
Well done NEM team and congrats to all initial stakeholders who are still holding!
NEM definitely has huge potential and great team. Question is, can it become equal competitor to ETH? What's your estimation for 2017? Personally, I have not much doubt about it, but in the blockchain-world quite everything is possible and so no advices given :).
Image credits: coinmarketcap.com
No. Because their smart contract implementation is nowhere near what is needed for the Web3 stack. Their consensus mechanism is interesting. In my opinion, most of the value is being derived from simply being listed on exchanges. Once there is multiple development teams competing for clients and a robust dApp ecosystem, then you can make those claims about XEM/NEM.
Well, it doesn't seem NEM's goal is to provide completely custom smart contracts but rather to provide comfortable access to certain use-cases. It's not the approach ETH took and therefore it's not its direct competitor, just the alternative player in same are with different tool-set and slightly different focus IMHO. As my basic understand goes, NEM's approach is to provide more end-user experience on block-chain for most-wanted cases rather than totally general scripting engine. If someone needs to implement complex and specific dApp on the blockchain without any limitation, ETH would be probably the first choice. But if you have some standard basic scenario (like putting simple records on blockchain similar to Factom), NEM could be less expensive for both using and maintenance with a better comfort.
hummmmm i see what you are saying. Something does NOT feel right about the farming and coin distribution but I don't have the time to dig much deeper. I am much more of a maximalist.
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