NEM is a blockchain project that is developed to help companies and industries to improve things like payments and logistics.

NEM was launched on March 31, 2015, symbol XEM.

It’s trying to differentiate itself from other cryptocurrencies by making its blockchain highly customizable.

NEM blockchain works as the company described the "smart asset system"

“Smart Assets systems” are the kind of tools that NEM uses to handles business data. "Smart asset systems" help to use NEM as if it were a custom blockchain built to handle your assets.

The “Smart Asset System” can be broken down into four attributes

Addresses:

Addresses are the containers that hold coins, contracts, or business records. These containers could be something like a user’s account which holds coins or something like a carton to be shipped, or the document to be authorized.

Namespaces

Namespaces let you create a dedicated place to keep your assets on the NEM blockchain, thus giving your assets identification and make the assets easy to use and credible.

Mosaics

Mosaics is something like a digital item or digital token. It may be something like a coin, stock shares, a signature, a status update or more.

Transactions

Transactions let you transferring assets(Mosaics) between Addresses or transferring the ownership of Addresses

This is the list of NEM potential use cases as describes on its website.

• Financial services companies can use NEM blockchain for instant payments
• Creating your Own Cryptocurrency without the knowledge of a single piece of code. You can set your own coin transaction fee.
• XEM the native cryptocurrency of NEM blockchain can be used for the online payment. NEM blocks take 60 seconds to complete, making transactions confirm swiftly
• NEM can be used for mobile payments because of the fast transaction time and low fee.
• The network has launched a fixed amount of XEM, hence it will never cause inflation and will maintain asset liquidity. Every transaction on the public blockchain requires a small transaction fee, ensuring demand for XEM coins over time
• NEM can also be used for escrow services.
• According to the company, you can also create your own payment system like PayPal. One of the few examples of this is NEMPay app which is an open-source payment application that allows anyone to use the blockchain for peer to peer payments.

NEM seems to be a more stable cryptocurrency than its competitors especially Ethereum for building new applications with support for real business models.

As Litecoin and Bitcoin are designed to be used as Fiat currencies whereas NEM is not developed to be used as the Fiat currency. It is a payment transactional platform for the businesses

But NEM still faces a lot of challenges as its main competitor Ethereum has a very strong grip on the altcoins market.

It has a circulating supply of 8,999,999,999 XEM coins and a max. supply of 8,999,999,999 XEM coins.

If you want to know where to buy NEM at the current rate, the top cryptocurrency exchanges for trading in NEM stock are Binance, OKX, Bybit, Coinbase, and Huobi. 

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