1. Introduction to XEM-New Economics Coin Project
NEM blockchain project was founded in 2015. It is a digital asset management platform that can be created according to needs, financial technology system, logistics tracking system, the first time Token issuance, notarization, decentralized identity verification, etc. Since the system is autonomously open, decentralized, and self-supporting the NEM public blockchain, not only can anyone use the NEM blockchain fully autonomously, but developers can also build on NEM. XEM, the native token of the NEM network, enables instant payments and transfers anywhere in the world. XEM can also be used to pay for transfer fees, token creation, encrypted messages, or some other feature.
II. Project Features
NEM has a unique namespace/intelligent asset system, similar to the structure of domain names/pages in the Internet era, and each user can easily apply for their own , and publish on-chain assets on the public chain. XEM is an on-chain asset released in the basic namespace of NEM. NEM is a Java-based blockchain system programmed from scratch. The digital asset XEM running on it has the following basic features:
• Perfect collectible value – the total amount of XEM is constant and never Inflation
• Convenient transaction – good on-chain transaction carrying capacity, very high TPS
• Harvest system – holding coins for passive income
• High efficiency – The operation of the blockchain will not generate a large amount of power demand and energy consumption
• Large demand – accounting and publishing smart assets on the public chain need to consume XEM
3. NEM project application
1. Financial Payments
Financial services companies can use NEM to make instant payments and transfers anywhere in the world. One of the main advantages of NEM is its ability to seamlessly interface between public and private blockchains. This means that you can transfer currency, tokens or files to another company's network via a public blockchain from within a company's network.
2. Create your own cryptocurrency
NEM's smart asset system enables you to define and launch your own token or cryptocurrency without programming. Just open the client and define the name, number of coins, divisibility, transferability and levy and it's done. You can trade with the new coins for free, or you can set a transaction fee of any amount.
3. Mobile payment
You can use NEM's cryptocurrency XEM, or you can create your own cryptocurrency on NEM. NEM is an excellent choice for mobile retail payments. NEM blocks complete every 60 seconds, allowing transactions to be confirmed quickly enough for everyday use. Transaction fees are kept low enough to make even small purchases a reality. NEM's mobile wallet supports barcode functionality for easy payment without entering an address.
4. The stock market
The stock market is very inefficient in terms of post-trade clearing, payment and settlement. Trade matching occurs at hundreds of transactions per second, but inventory clearing and settlement takes more than two days to complete. Since current systems and practices are based on outdated legacy process practices, the stock market should consider a complete overhaul of the system. NEM blockchain technology is a suitable core component for redesigning the stock market ecosystem, which could save the industry billions of dollars in operating expenses annually.
5. Managed Services
NEM can form the basis of managed services. You can set up trustless accounts to manage the transfer of currency, tokens, data or any other assets. You can also set the minimum number of digital signatures (up to 32) required before performing a transfer.
6. Liquid Assets
The network has set XEM to a permanently fixed amount, which means there will never be inflation. Every transaction on the public blockchain requires a small transaction fee to secure demand for XEM coins over time. Users also need XEM to pay for token creation, encrypted messaging, and other features. This makes XEM a great store of value.
