NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm.
NEM features an integrated P2P secure and encrypted messaging system, multi-signature accounts and an Eigentrust++ reputation system. Essentially, NEM is designed as a financial blockchain solution and can be used for payment, clearing and settlement in a private environment which is highly controlled. This means that NEM meets several of the regulatory requirements and guidelines in the financial industry. This allows it to be used to settle (change of ownership) any asset via the blockchain. Mijin which is a private chain of NEM has gained popularity and companies such as Hitachi have already embraced it. This has led to an increase in XEM price which is its native token.
NEM Symbol Public Blockchain
In March 2021, the NEM project launched the NEM Symbol public blockchain. Before NEM Symbol was launched, XEM holders had the chance to opt-in to obtain an XYM balance equal to that of their XEM balance at the time of Snapshot. But it’s not too late to opt-in and participate!
NEM Ecosystem
Banks
Many banks around the world have come to accept the importance of blockchain technology. In fact, a good number of banks in the U.S, India and Japan have already started using the technology. Because banks generally employ the smart contract concept, NEM’s platform which is asset-friendly can be used to settle any asset. In settling assets, speed, security, and reliability are very important to a mainstream institution which is what this crypto offers. NEM addresses these issues by repackaging its blockchain into a private chain and presenting it as Mijin.
Let us review XEM Price
XEM Price Prediction
XEM is currently trading near the resistance at $0.2000. If it can break this resistance, we could start seeing a move towards $0.2479, $0.3253, $0.4028 and $0.4507. Failure to break the resistance at $0.2000 could lead to a drop towards $0.1440, $0.1225 and $0.0951.
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