This is not investment advice. I am not an investment advisor. This is just my take on blockchain and cryptocurrencies.
There is a new crypto girl in town. Her name is Alexandra Tinsman. Her Youtube-channel is called "Inside NEM" and she will talk about the NEM-project, about the competitive advantages of NEM and its developments. In the first episode she talks about the difference between Ethereum and NEM amongst other things. What will be discussed also is questions and recommendations from viewers and bloggers on NEM's forum. She also discusses how current issues are being solved by NEM's team of developers. Her channel gives the viewer the possibility to see how (easy) NEM is capable to adjust and market its product to the demands of the market. Her channel will give the viewer an inside look in the developments of an interesting (start-up) project.
Additional info about NEM
Company name: NEM (New Economy Movement)
Trading name: XEM
The total amount of tokens outstanding is 8,999,999,999 XEM. Fixed amount.
Trading on July 5th 2017: around 0.155 EUR or 0.175 USD per token.
Market capitalization on July 5th 2017: €1.389.584.650 / $1.575.441.000, 6th among cryptocurrencies.
Distributed consensus mechanism: Proof-of-Importance (POI). Article about POI in combination with NEM: https://themerkle.com/what-is-proof-of-importance/
Mining possibilities: currently none.
Possibility to get NEM-tokens without buying: yes. This is done via a process called harvesting. To learn more about harvesting XEM: https://blog.nem.io/how-local-and-delegated-harvesting-works/
The pillars of NEM: Fast transactions, standardization and simplification of smart contracts called smart assets, easy to use Application Programming Interface, mosaic, scalability?, POI.
Direct competition: Ethereum (ETH), EOS (EOS), Stratis (STRAT), Lisk (LSK)
- Especially the smart assets and easy to built apps on NEM-(blockchain) technology. This should make NEM "easy and ready to use out of the box". Ethereum is according to the video more complex.
- Another advantage is POI.
- NEM could be the go-to-IT-solution for businesses and individuals who want to make use of blockchain technology and are looking for an easy way to start and learn.
- Interface developers will make more complex blockchain technologies over time more easier to use. This gives an advantage to Ethereum which already has a lot of name recognition and a bigger infrastructure which is currently being battle tested.
- NEM is less complex and because of that there are less possibilities to customize.
- There will probably be new competitors entering this market.
- The volume on which XEM trades is very low compared to other cryptocurrencies at the top.
Background developers: Unknown. This could become an issue.
Let's see how the NEM-project unfolds.
Watch Alexandra Tinsman for more information about NEM. Youtube-channel: https://www.youtube.com/channel/UCnsSiqyb0PuQkqT4v8Xjugw
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.