It seems that 2018 is the year of altcoins. By what we have seen so far, a lot of cryptocurrencies other than Bitcoin have risen in price and showed the world that they are the assets behind a new type of technology.
One of them is NEM (XEM), a cryptocurrency that rose to $1.84 in the past few hours, marking a growth of 44.47%. This cryptocurrency is another asset representing the distributed ledger technology (blockchain) which is designed and coded from the ground up for scale and speed. According to their website, the platform is using a revolutionary consensus mechanism and the Supernode program to ensure that NEM can grow without even compromising the throughput.
The new growth has been impressive and is due to the same technology. While Ethereum is focused on smart contracts and Ripple is focused on its lighting speed of execution, NEM (XEM) has brought together a technology that is easy to use and one that is amazingly customizable. There is a great sense of development in this technology too and the quality is paramount.
NEM is different from many altcoins because of the quality of the technology. According to sources, it adopts a work done by a node that counts and one that works on Eigentrust++, a reputation management platform that assigns global trust value to every user based on the quality of their activities.
This enables more usability for NEM, giving it a unique edge over other digital currencies. So far, the company has partnered with Australia’s biggest exchange platform, ACX, from where the growth supposedly comes. This has given NEM a solid foundation for a white-labeled software and paved the way to a lot of success on the crypto market.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post